Do-it-yourself cities

Posted by: Amey Stone on August 5, 2005

The web site ForSaleByOwner.com has released a list of the cities where the most homes are sold without a broker (based on 40,000 listings on its site). It’s not a very scientific study, but interesting nonetheless.

Here are ForSaleByOwner.com’s top 10 in 2005:

Top Cities in 2005
1. Detroit, MI
2. Dallas, TX
3. Atlanta, GA
4. New York, NY
5. Houston, TX
6. Washington, DC
7. Chicago, IL
8. Portland, OR
9. Indianapolis, IN
10. Seattle, WA

Reader Comments

Lord

August 5, 2005 1:51 PM

It is interesting to see FSBOs in markets where it is tough to make money on housing rather than in markets where it would be easier to sell. I guess losing money is more painful than sharing the bounty.

Romitek

March 16, 2007 12:10 AM

I only know about Seattle having just sold a house there. I think it is the way the system gets in line to take it's share of a sale, when one is made. This may sound odd but there are ways you can be taken in a real estate deal, and little or nothing can be done about it...Exa. I've been taken by two appraisers here. $400..dollars twice...they know that a lender/agent does not want you to have a copy of your appraisal right away, so they stall late into the deal to keep you from jumping....Also escrow fees can, and are tacked on at will with dubious sub-titles like reprocessing fee, or misc. fees. Not to mention, liens that the courts allow 24/30% interest on plus a $2.50/ per/day fee....So as a seller you can just hire a lawyer, and you be the one that does all of the above to someone else....

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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