In order to get the most buyers through your front door, you’ll need to do more than just stick a sign in the front yard. An aggressive and thoughtful marketing campaign can make the difference between a quick sale and your house continuing to sit on the market with little activity.

Utilize the weekends to take the time to thoroughly market your Brooklyn home for sale by owner (FSBO).

Take a lot of good photographs. You have to expect that buyers will look at your property online before they decide to take the time to visit it in person. Make sure you have a lot of photographs online and that they do your house justice. Take pictures from multiple angles in each room and choose the best ones. Also, if you have a great yard, make sure you show it off.

1. Make the most of your signage. Ensure your phone number is clearly visible. Also, check with your homeowners association and neighbors that live at busy intersections to find out if you can put a sign with an arrow pointing toward your house.
2. Put ads on every website you can. Most buyers start their search on the Internet, so make sure your Brooklyn home for sale by owner has a strong online presence.
3. Don’t forget about print ads. Many buyers still look at newspaper Classifieds, so make sure your house appears there. You can often place large ads in smaller publications for relatively little money.
4. Host open houses. Not every location is especially suitable, but try it a couple of times and see how many people turn out.  If you’re getting good foot traffic, keep it up.

If you need help marketing your Brooklyn home for sale by owner, please call me Charles D’Alessandro your Brooklyn Realtor® with Fillmore Real Estate at (718) 253-9600 ext 206 or email me at [email protected] for more information.   And, have a fun and safe summer!

There’s a lot of confusion surrounding short sales, so I thought I’d answer some of the questions I’ve received from clients, owners of Brooklyn real estate and blog readers.

Q:  What is a short sale?

A:  A short sale is when a lender agrees to accept less than what is owed on a home.  For example, you owe $300,000 on your home loan, but your lender will allow you to sell your home for $250,000.

Q:  Who makes up the difference between the short sale price and the amount owed?

A:  In the past, the owner of the Brooklyn real estate would receive a 1099 income statement at tax time.  The “forgiven amount” would then be counted as income subject to income tax.  This left homeowners in debt to the federal government for the tax owed on that amount.  Now, with the passing of the Mortgage Forgiveness Debt Relief Act and Debt Cancellation, the short fall on a primary residence is not counted as income.  This eases the financial hardship of those who are already struggling.

Q:  Does a short sale impact your credit the same way as a foreclosure?

A:  No, the impact of a short sale is milder on your credit than a foreclosure.  Short Sales usually reduce your score by about 80 to 250 points and only stay on your record for around 5 years.  Compare that to foreclosures which reduce your score approximately 250 to 400 points and remains on your record for 10 years.

Q: How do I qualify for a short sale on my Brooklyn real estate?

A:  Contact your lender as soon as you know you are in financial trouble.  Government programs, particularly the Home Affordable Foreclosure Alternatives (HAFA), are designed to make short sales more attractive to lenders by giving them incentives for allowing a short sale over a foreclosure.  However, if you allow your loan to become delinquent (more than 60 days), lenders are less likely to grant a short sale.

Q:  Can I sell my home as a FSBO and still qualify for a short sale?

A:  No.  Lenders rely on “broker opinion” as to what the home is worth at this time.  You need to hire a real estate professional that has experience with short sales.  Short sales take longer to close and properly handling the sale can make a difference in getting an offer accepted by your lender.

If you are facing the possibility of foreclosure and  looking for an experienced, energetic, resourceful  Brooklyn real estate agent , let me help you discover the options that are available to you. Give me Charles D’Alessandro your Brooklyn Realtor® with Fillmore Real Estate a call at (718) 253-9600 ext.206 or email me at [email protected]