Jaime Dunaway-Seale, Author at Semya-Moya https://semya-moya.ru/authors/jaime-dunaway-seale/ Tue, 05 Dec 2023 16:29:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.2 https://semya-moya.ru/wp-content/uploads/2023/05/icon-96x96-1.png Jaime Dunaway-Seale, Author at Semya-Moya https://semya-moya.ru/authors/jaime-dunaway-seale/ 32 32 Real Estate Facts 2024: Housing Market Statistics and Survey Research https://semya-moya.ru/research/real-estate-statistics/ Mon, 11 Dec 2023 13:00:00 +0000 https://semya-moya.ru/?p=39771 Find the latest real estate research and statistics compiled from Semya-Moya's data.

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Real Estate Market Statistics | Home-Buying Statistics | Millennial Home Buyer Statistics | Housing Affordability Statistics | Home-Selling Statistics | Renting Statistics | Real Estate Agent and Commission Statistics | Moving Statistics | Real Estate Fun Facts

🏑 What was the real estate market like in 2023? 🏑

The 2023 real estate market was a lousy environment for buyers and sellers. A majority of Americans thought it was a bad time to sell a home (51%) and an even worse time to buy (53%).

The 2023 real estate market was a particularly challenging one. Rising mortgage rates either locked buyers out of homeownership or locked sellers in to their existing low rate, curtailing new home listings and contributing to the U.S. housing shortage.

Today's stalemate in the real estate market is a drastic change from just two years ago, when surging demand caused home sales to reach a 15-year high. Now, sales are down 15% year-over-year, and nobody feels like a winner. 

To gauge how Americans are navigating new market realities, Semya-Moya and its partner websites commissioned a series of surveys and data-driven analyses throughout 2023.

We compiled 65 of the most compelling real estate facts from our research to provide a snapshot of the ever-changing housing market headed in to 2024.

General Real Estate Market Statistics

1. Americans remain surprisingly optimistic about achieving their goals in 2024. Nearly a quarter of millennials (23%) and zoomers (24%) say buying a home is a goal next year, but just 28% of Americans who wanted to buy a home in 2023 actually did.[1]

2. About 83% of non-homeowners want to buy a house but can't because of financial reasons. The top reasons are: They don't have enough for a down payment (53%), homes near them are too expensive (43%), and interest rates are too high (36%).[1]

3. Homes are out of reach for many Americans because home prices have risen more than 2x faster than income since 2000. Since then, home values have soared 162%, while income has increased only 78%. If home prices had grown at the same rate as income since 2000, the median U.S. home would cost nearly $294,000 β€” about 32% less than today’s price of $433,100.[2]



4. To afford a home today, Americans need an average income of roughly $166,600, but the median household income is just $74,580.[2]

5. The average house-price-to-income ratio in the U.S. is 5.8, more than double the 2.6 experts recommend. None of the 50 most-populous metros in the U.S. have a home-price-to-income ratio that’s equal to or below the recommended 2.6. Pittsburgh has the lowest home-price-to-income ratio at 3.2, while San Jose has the highest at 12.1.[2]

6. As home prices rise, Americans are paying more for less space. Since 1980, the median price per square foot for single-family homes has increased 368% β€” from $41 to $192. At $133 per square foot, Cleveland is the least expensive city based on the price per square foot, while San Jose is the most expensive at $845 per square foot.[3]



7. Soaring home prices are connected to a surge in homelessness. Metro areas with above-average home values have homeless rates about 2.5x that of metro areas with below-average home values.[4]

Home-Buying Statistics

8. The hot housing market is cooling, but for many beleaguered buyers, the correction hasn't been the boon for which they had hoped. Nearly all recent home buyers (93%) said the real estate market impacted their home-buying experience, compared to 88% in 2022.[5]

9. The percentage of homeowners who said buying a home was more difficult than expected increased from 30% in 2022 to 44% in 2023 because of financial reasons, such as exceeding their budget (45%), high interest rates (42%), and expensive home prices (42%).[5]

10. Nearly 3 in 4 Americans (73%) don’t think homes are affordable right now, but 60% continue to underestimate the median home price. Just 14% actually know the median price ranges between $400,000 and $499,999.[6]

11. Although competition has eased nationwide, a surprising 38% of home buyers still paid more than the asking price for a home in 2023. However, 58% of recent buyers and 63% of first-time buyers admit they overpaid for their home.[5]

12. Mortgage lenders recommend putting down 20% on a home, but 62% of Americans believe it's a requirement. In fact, more than 1 in 5 Americans (21%) said home buyers actually need to put down more than 20%.[6]

13. Nearly 2 in 3 recent buyers (61%) said searching for a home took longer than expected. Three-fourths of buyers (76%) searched for at least one month, while nearly half (47%) looked for at least three months. While house hunting, 95% of Americans made more than one offer.[5]

14. Nearly all recent home buyers (93%) compromised on their priorities, compared to 80% in 2022. Although 1 in 3 buyers (32%) wanted to find an affordable home, it was the most-compromised priority among house hunters. Of those who said it was a priority, about one-third (34%) had to offer a higher price than expected.[5]



15. Compromising on their priorities inevitably led to regret among home buyers. About 93% of home buyers had regrets β€” up from 72% in 2022. The most common regrets were:

  • Buying homes that require too much maintenance (33%)
  • Buying too quickly (30%)
  • Spending too much (28%)
  • An interest rate that's too high (28%)[5]

16. About 88% of homeowners find some aspect of homeownership stressful, and more than one-third (34%) said they'd be less stressed if they didn't own a home. The most stressful aspects of homeownership are maintenance (47%), unexpected expenses (47%), and their current mortgage rate (23%).[7]Β 

Millennial Home Buyer Statistics

17. Millennials are willing to make rash decisions to afford a home in a competitive market, including buying a home sight unseen (90%), offering over asking price (85%), and purchasing a fixer-upper that needs major repairs (65%).[8]

18. Nearly half of millennials (47%) said high interest rates are a significant barrier to homeownership, followed by expensive homes (46%) and saving for a down payment (41%). In fact, 62% of millennial home buyers plan to put down less than 20% on a home.[8]



19. More than half of millennials (54%) have less than $10,000 in savings, including 1 in 5 (20%) who have nothing saved. But nearly 1 in 4 millennials (23%) plan to buy a home that costs more than the national median. To afford such expensive homes, 38% of millennials anticipate maxing out their budget.[8]

20. Millennials are so desperate to own homes that 1 in 7 (14%) would offer $100,000 or more over asking price for their dream home. Meanwhile, not a single boomer would offer that much over asking price.[8]

21. Desperate buyers who rush into a home purchase are more likely to experience financial remorse. About 82% of millennials who own a home have regrets about their purchase. The most common regret among millennial homeowners is that their interest rate is too high (22%).[8]

22. Nearly half of millennials (44%) said they've skipped meals to afford housing payments at some point β€” more than double the share of baby boomers (20%) who have done the same.[7]

Home Affordability Statistics

23. About 90% of homeowners said some aspect of owning a home is more expensive than they originally expected.[9]

24. On top of their mortgage, the average homeowner in 2023 pays $17,459 annually for additional expenses, including:

  • $4,975 for utilities
  • $4,283 for maintenance
  • $3,890 for home improvements
  • $2,795 for property taxes
  • $1,516 for homeowners insurance[9]



25. Just 14% of Americans know the true cost of homeownership. The rest are in for a rude awakening. About 1 in 4 Americans (29%) expect to pay less than $5,000 in additional costs every year β€” 3x less than what the average homeowner actually spends.[9]

26. The cost of owning a home isn't only a matter of money. The average homeowner spends 17.1 hours each month β€” 205 hours a year β€” on home repairs and improvements.[9]

27. About 42% of homeowners said they pay for renovations and repairs mostly by borrowing, and 54% of homeowners could not afford a $3,000 emergency repair without going into credit card debt.[9]

28. More than half of homeowners (57%) would have approached buying a house differently had they realized the true cost of homeownership: 

  • 42% would have purchased a home that requires less maintenance.
  • 33% would have negotiated a better price or contingencies on their home.
  • 29% would have purchased a less expensive home.[9]

29. More than half of home buyers (56%) have felt in over their head financially since purchasing their home, and almost two-thirds (62%) have struggled to make mortgage payments on time. While paying for their home, about half of home buyers (56%) have taken on additional debt to maintain their lifestyle.[5]

Home-Selling Statistics

30. The extreme seller's market has cooled as high mortgage rates and expensive home prices suppress buyer demand. As a result, 40% of recent sellers said selling their home was more difficult than they expected β€” up from 31% in 2022. Unexpected difficulties inevitably led to more stress, with 56% saying the home-selling experience was stressful.[5]

31. Today's sellers have to compromise to make deals happen, but doing so often leads to regret. About 95% of home sellers have regrets β€” up from 90% in 2022. The most common regrets are paying too much in realtor fees (28%), making too many concessions (26%), and having their home sit on the market too long (21%).[5]



32. The percentage of homes that sold within one month decreased by half β€” from 55% in 2022 to 28% in 2023 β€” indicating a cooling market.[5]

33. More than half of home sellers (58%) said earning the most money from their home sale was very important, but 38% weren't satisfied with the profit they made on their sale.[10] A majority of sellers (57%) made less than $50,000 on their home sale, and 1 in 14 (7%) actually lost money or broke even.[5]

34. Just over half of sellers (53%) had to reduce the asking price for their home. About 45% of home sellers rejected an offer, only to settle for a lower price later on.[10]

Renting Statistics

35. The U.S. defines affordable housing as housing that costs no more than 30% of an occupant's gross monthly income, but about 1 in 4 renters (24%) said they spend half their income or more on housing.[11]

36. Renters must spend a greater share of their income on housing than in previous years because rent has outpaced income by 7% over the past four decades. Since 1985, the monthly median rent price in the U.S. has increased 208% β€” from $378 to $1,163 in 2021 β€” the last full year for which rent and income data are available.[12]

37. From 2009 to 2021, rent growth outpaced income growth in 46 of the 50 most-populous metros. Rent exceeded income by the largest margin in Denver (71%) and the smallest margin in Milwaukee (5.2%). Income growth has exceeded rent growth in only four U.S. cities: Providence, Buffalo, Cleveland, and Pittsburgh.[12]

38. The rent-to-income ratio is the percentage of income a tenant will need to afford monthly rent. Miami has the highest rent-to-income ratio at 28.5%, while Cincinnati has the lowest at 15.5%.[12]



39. About 84% of renters are stressed about not owning a home, but it is cheaper to rent than buy in 45 of the 50 most-populous U.S. cities based on the price-to-rent ratio, which is calculated by dividing the median home price by the median annual rent.[7][13]  

40. A price-to-rent ratio of 15 or less means it’s better to buy. A price-to-rent ratio of 21 or more means it’s better to rent. With the lowest price-to-rent ratio (12) and the lowest home prices ($188,418), Pittsburgh is the best city for buying a home. With the highest price-to-rent ratio (38) and the highest home prices ($1.4 million), it's demonstrably easier to rent than buy in San Jose. Unfortunately, the typical monthly rent in San Jose is still $3,181 β€” nearly 3x more than Pittsburgh’s monthly rent of $1,214.[13]



41. Nationally, the average monthly mortgage payment is $174 more than the average rent payment. It would take nearly 215 months of rent to buy an average-priced U.S. home β€” almost 18 years’ worth of rent.[13]

42. Homeownership is still a goal for 85% of renters, but 72% said they'll never have enough money to buy one. Some renters are so desperate to own homes that 31% would sell their own plasma, and 29% would skip meals. With no realistic way to afford a home, 66% of renters said home prices make them feel hopeless.[11]

Real Estate Agent and Commission Statistics

43. About 79% of Americans who sold a home in 2022 or 2023 used a real estate agent. Of the 21% who did not use an agent, 20% sold to a cash buyer or investor, 13% sold to an iBuyer, and 13% listed their home for sale by owner. However, 53% of non-traditional home sellers wish they used a traditional real estate agent.[10]

44. Home sellers who used an agent averaged $46,603 more in profit than those who didn't use an agent. In fact, those who sold without a realtor were 3x more likely to say they lost money on their home sale than those who sold with a realtor.[10]



45. Working with a real estate agent has many advantages, but it comes at a cost. The No. 1 regret among home sellers was that their agent's commission rate was too high. The percentage of respondents who cited this as their top regret surged 40% in just a year, from 20% in 2022 to 28% in 2023.[5]

46. Nearly half of 2022 and 2023 home sellers (48%) said avoiding high commission was a β€œvery important” priority when selling their home, and 42% said they were less likely to work with agents who were unwilling to negotiate commission.[10]

47. More than half of Americans (51%) underestimate how much they’ll pay in realtor commission. Only 11% know agents earn about 6% of the final sale price.[6]

48. Home sellers usually pay commission for their agent and the buyer's agent, but they are becoming increasingly fed up with the traditional commission model. About 55% of sellers said they shouldn’t be obligated to pay the buyer’s agent’s half, and a recent lawsuit aims to release them from that responsibility.[10] About 62% of Americans already think buyers pay their agent’s commission. This misunderstanding could be why 65% of Americans wrongly think buyers can save money by not working with a real estate agent.[6]

Moving Statistics

49. Americans said the most desirable places to live have a low crime rate (46%), affordable homes (43%), and a low cost of living (41%), but they rank California as the best state to live, followed by Florida and New York β€” three expensive states. The most undesirable states are Alaska, Alabama, and California.[14]



50. Americans consider Seattle the most desirable city in the U.S. The least desirable city is Washington, D.C.[14]

51. Cities and states that Americans think are desirable don’t necessarily attract the most new residents. In the first six months of 2023, South Carolina had more inbound moves than any other state, while Illinois had the most outbound moves, according to Allied Van Lines. It's no surprise, then, that Chicago had more outbound moves than any other city, while Phoenix had the most inbound moves during that same time period.[14] 

52. Just 63% of Americans like where they live in 2023 β€” down from 80% in 2022. But of those who don’t like where they live, 42% said they can’t afford to move.[14]

53. About 1 in 4 Americans (26%) hire movers, but 46% were surprised by the cost. Roughly 40% of Americans did not budget their move correctly, with 17% reporting that their move was ultimately too expensive.[15]

54. A majority of Americans spent less than $2,000 on their moves (54%), while 46% spent more than $2,000 β€” including 7% who spent $5,000 or more. Sixty percent of those who used a moving service spent more than $2,000, whereas only 46% of all respondents reported spending that much. Americans who made long-distance moves paid the price as well, with 60% spending $2,000 or more.[15]

55. Three-fourths of Americans (75%) have regrets about their move, including 28% who regret not hiring movers β€” despite the cost.[15] 

56. Spending money on movers is worth the convenience for some Americans. About 43% said working with movers is easier, and 40% said it saves time. Only 56% of Americans who hired a moving company said the moving process was stressful, compared to 68% who did not use a mover.[15]



57. Still, a whopping 44% of Americans cried at least once during the moving process, and 43% fought with loved ones.[15]

Real Estate Fun Facts

The post-pandemic housing market has been anything but normal. These eight peculiar facts offer a unique perspective on the weirdest real estate market ever.

Haunted Real Estate

58. About 29% of Americans believe they’ve lived in a real haunted house β€” up slightly from 24% who said the same in 2022. Of those who have lived in a haunted house, 27% knew the house was haunted before they moved in and still chose to live there. However, more than 1 in 3 haunted homeowners (36%) regret living in a haunted house, and 55% would not buy another home they knew was haunted.[16]



59. In this monster of a market, buyers are willing to overlook just about anything to own a home, including a few ghosts. About 71% of Americans could be convinced to buy a haunted house to save money.[16]

60. Ghosts are scary, but 93% of Americans are more afraid of home repair problems, such as mold (60%), termites (57%), and a leaky roof (54%).[16]

61. Nearly half of Americans (48%) would rather live with ghosts than purchase a home near a nuclear waste facility.[16]

Cannabis and Home Values

62. Recreational cannabis is legal in 23 states and Washington, D.C. Those jurisdictions have seen property values rise by $185,075 since 2014, compared to $136,092 in states without recreational cannabis. That means home values climbed an average of $48,983 more in states with recreational cannabis than in states without recreational cannabis.[17]



63. Medicinal cannabis is also associated with higher increases in home values. Since 2014, states with medicinal cannabis have seen home values increase $29,289 more than in states without medicinal cannabis.[17]

64. There’s a notion that dispensaries hurt property values, but the data shows that since 2014, home values increased $67,359 more in cities with recreational dispensaries than in cities where recreational marijuana is legal but dispensaries are not available.[17]

65. In states with legal recreational cannabis, weed sales in 2023 are projected to generate about $25 billion in overall sales revenue β€” mostly collected as taxes. That's more than $1 billion per legal state.[17]

About Clever

Since 2017, Semya-Moya has been on a mission to make selling or buying a home easier and more affordable for everyone. 12 million annual readers rely on Clever's library of educational content and data-driven research to make smarter real estate decisionsβ€”and to date, Clever has helped consumers save more than $160 million on realtor fees. Clever's research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more.

More Research From Clever

American Home Buyer and Seller Report: 2023 Edition

We surveyed 1,000 recent home buyers and sellers to find out how they're navigating a gridlocked housing market that makes nobody feel like a winner.
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A Year to Forget: Americans Fall Short of Financial Goals in 2023

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The post Real Estate Facts 2024: Housing Market Statistics and Survey Research appeared first on Semya-Moya.

]]> The Most Bike-Friendly Cities in the U.S. (2023 Data) https://semya-moya.ru/research/most-bike-friendly-cities-us/ Mon, 17 Jul 2023 19:27:08 +0000 https://semya-moya.ru/most-bike-friendly-cities-us/ We analyzed data from the U.S. Census and other metrics to rank the most-bike friendly cities in the U.S. Find out if your city is geared toward cyclists.

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πŸ† Where are the most bike-friendly cities in the U.S.? πŸ†America's most bike-friendly city is Minneapolis, followed by Portland, Oregon, and San Francisco.
Show more
Most Bike-Friendly Cities, Ranked | 15 Most Bike-Friendly Cities | Rankings by Category | 10 Least Bike-Friendly Cities | Methodology | FAQs In a modern world with an abundance of fast, motorized options for transportation, the humble bicycle is experiencing a boom not seen in the U.S. since the 1970s. Americans rediscovered the bicycle during the pandemic as they looked for safe, socially distant forms of exercise, recreation, and transportation. Bike sales surged, and retailers struggled to keep up with demand. Three years later, Americans are still pedaling in high gear while other pandemic fads have fallen flat. In 2022, U.S. consumers spent $8.2 billion on bicycles and accessories β€” up from $6.9 billion in 2020. Cycling is fun, healthy, and good for the environment, but it can be a perilous pastime depending on a city's infrastructure. Many motorists assume the streets were made for them, although cyclists were actually the first people to lobby cities for paved roads. Some cities, however, are shifting away from a car-centric transportation model by adding designated bike lanes, building off-road bike paths, and increasing access to bike-sharing options. To determine the most bike-friendly cities in America, we evaluated multiple metrics, including:
  • 5x: The bikeability of the metro area based on Walk Score's bike score.
  • 5x: The number of bike trails per 100,000 residents, emphasizing access to non-road bike areas.
  • 4x: The number of cyclists involved in fatal motor vehicle crashes in 2021 per 100,000 residents.
  • 3x: The number of bike shops per 100,000 residents, including bike repair locations.
  • 3x: The number of bike share docking stations per 100,000 residents.
  • 2x: The number of bike rental shops per 100,000 residents.
  • 2x: The number of days the metro has a moderate air quality index score of above 50 but below 100. Below 50 is considered "good," and lower values are ranked higher.
  • 1x: The number of wet weather days per year. Lower values are ranked higher.
  • 1x: Total search volume for 10 bicycle-related search terms, such as "biking," "cycling," and "bike trails," on Google.
  • 1x: The percentage of workers who commute by bicycle. A higher percentage may act as an indicator of bicycle-friendly transportation infrastructure.
  • 1x: Commitment to Vision Zero, a nonprofit campaign helping communities commit to transit and bicycle safety with the goal of eliminating traffic fatalities and injuries.
For a full list of metrics, see the methodology section. Keep reading to find out if your city is geared toward cyclists or poses a wheel problem.

🚲 Most Bike-Friendly Cities in the U.S. Statistics

  • Minneapolis is the most bike-friendly city in the U.S. The city is tied with Portland, Oregon, for the second-best bikeability score among the 50 most-populous metros, scoring 83 out of 100.
    • Minneapolis also boasts 4x the average number of bike share docking stations, with 10.8 per 100,000 residents. Among cities in the top 15, only Washington, D.C., has as many.
  • Last year's winner, Portland, fell to No. 2 but still has the highest percentage of employees who commute by bike (1.1%).
    • The City of Roses also has the highest concentration of bike shops per capita, with 3.5 per 100,000 residents.
  • The best bicycle infrastructure is found in Washington, D.C. The U.S. capital has a bikeability score of 92 out 100, while Birmingham and Charlotte have the lowest scores (31).
  • Raleigh, North Carolina, has more bike trails than any other city in our study, with 4.6 bike trails per 100,000 residents. That's more than 2.5x the studied city average (1.8).
  • Denver residents are passionate about cycling culture, ranking No. 1 and scoring a perfect 100 in overall Google search activity for bike-related terms. They also rank first for the specific terms "bicycle," "mountain bike," "bike trails," and "cycling."
  • The coasts are the best places to cruise by bike. About 75% of our top 15 most bike-friendly cities are located on the East or West coasts.
    • California is the best state for cyclists with three cities in the top 15.
  • The least bike-friendly city is Memphis, Tennessee, followed by Houston and Riverside, California.
    • Overall, Memphis has little bike infrastructure with just 2 bike share docking stations per 100,000 residents β€” 31% less than average (2.9) β€” and 0.4 bike trails per 100,000 residents β€” 78% fewer trails than average (1.8).
    • Memphis has 0.37 cyclist-involved fatal car crashes per 100,000 residents β€” 21% more than the average rate of 0.3 in all 50 cities studied.
  • Florida is the most dangerous state for bike riders. Four Florida cities β€” Tampa, Miami, Jacksonville, and Orlando β€” rank in the top five for cyclist-involved fatal crashes per capita.
Show more

The 50 Most Bike-Friendly Cities, Ranked

Rank City Bikeability Score* Bike Trails/100K Cyclists Involved in Fatal Crashes/100K Bike Shops/100K Bike Share Docking Stations/100K Bike Rental Shops/100K Days of Wet Weather/Year % of Workers Commuting by Bike Bicycle Passion Score** Vision Zero Status*** Air Quality Index****

-

 National Average

56

1.8

0.31

1.1

2.9

0.5

-

0.4

39.4

-

90

1

 Minneapolis, MN

83

2.6

0.14

1.4

10.8

0.3

119

0.4

67.7

Y

50

2

 Portland, OR

83

1.7

0.12

3.5

9.0

0.6

163

1.1

52.4

Y

32

3

 San Francisco, CA

72

2.2

0.17

2.4

9.8

1.3

71

1

67.4

Y

83

4

 Boston, MA

69

1.8

0.10

0.9

8.9

0.4

128

0.7

44.2

Y

36

5

 Washington, DC

92

1.7

0.13

1.1

10.8

0.4

118

0.4

50.6

Y

86

6

 Salt Lake City, UT

74

3.3

0.24

2.7

3.9

0.6

92

0.7

76.5

N

140

7

 San Jose, CA

62

4.2

0.51

2.8

3.1

0.8

59

1

67.4

Y

75

8

 Denver, CO

72

3.5

0.24

2.3

0.0

0.6

84

0.6

100.0

Y

163

9

 Seattle, WA

71

1.4

0.12

1.8

0.0

0.3

156

0.6

58.3

Y

47

10

 Providence, RI

61

3.7

0.12

0.7

0.0

1.0

127

0.2

29.2

Y

40

11

 Hartford, CT

54

3.7

0.08

0.9

0.0

0.9

130

0.1

33.9

N

38

12

 Milwaukee, WI

58

3.4

0.26

1.4

6.3

0.3

126

0.3

37.1

N

82

13

 Raleigh, NC

39

4.6

0.21

1.0

2.3

0.8

118

0.2

32.3

N

56

14

 Sacramento, CA

67

2.2

0.21

1.5

0.0

0.2

61

0.9

53.3

Y

136

15

 New York, NY

69

0.4

0.14

1.0

8.6

0.5

125

0.7

51.0

Y

124

16

 Nashville, TN

72

1.2

0.10

0.8

1.7

0.5

123

0.1

31.0

N

98

17

 Austin, TX

54

1.5

0.30

1.2

3.4

0.4

86

0.4

51.9

Y

81

18

 Philadelphia, PA

67

2.2

0.24

0.7

2.9

0.2

121

0.5

38.0

Y

131

19

 Baltimore, MD

53

3.7

0.14

0.8

0.0

0.2

121

0.2

27.6

N

82

20

 Chicago, IL

72

1.2

0.28

0.8

14.4

0.2

127

0.6

31.0

Y

122

21

 Buffalo, NY

63

1.8

0.60

0.8

9.5

0.6

166

0.3

28.0

N

55

22

 Columbus, OH

48

2.1

0.19

0.7

4.5

0.2

141

0.3

31.2

N

62

23

 St. Louis, MO

58

1.9

0.04

0.5

0.0

0.2

114

0.1

28.2

N

136

24

 Cleveland, OH

52

2.7

0.19

0.7

0.0

0.3

159

0.2

31.4

N

103

25

 Kansas City, MO

35

3.4

0.14

0.5

0.0

0.3

104

0.2

33.7

N

74

26

 Pittsburgh, PA

55

1.6

0.25

0.7

3.3

0.2

154

0.2

33.7

N

123

27

 San Diego, CA

43

0.6

0.49

2.2

0.6

1.5

40

0.4

51.3

Y

120

28

 Richmond, VA

51

0.5

0.30

1.3

1.6

0.5

119

0.3

33.0

Y

36

29

 Los Angeles, CA

59

0.5

0.28

1.0

2.4

0.2

34

0.5

41.7

Y

131

30

 New Orleans, LA

66

1.0

0.71

1.5

0.0

1.7

115

0.6

23.5

N

86

31

 Louisville, KY

79

0.6

0.62

1.0

2.9

0.4

125

0.1

27.3

N

87

32

 Orlando, FL

57

1.8

0.67

0.7

0.0

0.4

130

0.3

35.5

Y

38

33

 Las Vegas, NV

46

1.2

0.17

1.1

1.0

0.7

26

0.2

28.9

N

121

34

 Tampa, FL

55

1.0

1.27

0.8

3.6

0.3

108

0.5

38.0

Y

68

35

 Cincinnati, OH

36

1.8

0.22

0.6

2.8

0.5

136

0.2

29.6

N

134

36

 Indianapolis, IN

43

2.7

0.38

0.5

2.3

0.3

128

0.3

33.0

N

107

37

 Detroit, MI

52

1.1

0.14

0.6

1.7

0.2

136

0.2

33.0

N

97

38

 Atlanta, GA

42

1.4

0.10

0.3

1.9

0.1

116

0.1

31.0

Y

113

39

 Birmingham, AL

31

1.7

0.09

0.6

0.0

0.5

118

0.1

27.8

N

90

40

 Miami, FL

64

0.6

0.79

0.6

3.1

0.4

141

0.4

38.0

N

49

41

 Dallas, TX

49

1.5

0.23

0.2

0.8

0.1

82

0.1

32.1

N

84

42

 Virginia Beach, VA

42

1.6

0.33

0.4

0.0

0.3

118

0.2

25.1

N

22

43

 Charlotte, NC

31

1.5

0.22

0.6

1.1

0.2

112

0.1

28.9

Y

89

44

 San Antonio, TX

45

0.9

0.31

0.8

1.7

0.3

81

0.2

24.6

Y

106

45

 Jacksonville, FL

41

0.9

0.67

0.7

0.9

1.3

120

0.3

32.6

N

60

46

 Phoenix, AZ

56

0.7

0.59

0.7

0.0

0.2

33

0.4

41.7

N

164

47

 Oklahoma City, OK

40

1.0

0.35

0.8

0.0

0.5

83

0.2

31.2

N

126

48

 Riverside, CA

49

1.2

0.39

0.6

0.0

0.2

35

0.2

41.7

N

125

49

 Houston, TX

49

0.3

0.49

0.4

2.1

0.3

107

0.3

37.4

Y

142

50

 Memphis, TN

41

0.4

0.37

0.6

2.0

0.3

111

0

14.8

N

63
*Scores are based on a 100-point scale.**Based on Google Trends data for 10 bike-related search terms over the past 12 months. Scores are based on a 100-point scale, where 100 represents the most traffic.***Vision Zero communities meet various criteria that indicate a city-wide commitment to bicycle safety and transit safety.****The number of days the metro has a moderate air quality index score of above 50 but below 100. Below 50 is considered "good."
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The 15 Most Bike-Friendly Cities in the U.S.

1. Minneapolis, Minnesota

πŸ₯‡ A Schwinner’s Mindset Minneapolis improved upon its No. 4 rank in 2022 to knock off Portland as this year's most-bike friendly city in the U.S.
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Minneapolis may be a frozen tundra for half the year, but it's a hotbed for two-wheeled travel. Less-than-ideal weather conditions haven't stopped Minneapolis cyclists, who are some of the most zealous in the country. With a passion score of 68 out of 100 β€” the third-highest score on our list β€” Minneapolis residents search for bike-related terms on Google 72% more than residents in other cities. The city is known for its sizable network of bike paths, which includes 98 miles of bike lanes and 101 miles of off-street bikeways and trailsβ€” the most popular of which is the 5.5-mile Greenway converted from out-of-use railroad infrastructure. Overall, the city boasts 2.6 bike trails per 100,000 residents, which is 42% more than the studied city average (1.8). Decades of work to make streets more accessible has led to one of the highest bikeability rankings among all 50 cities studied. Minneapolis is tied with Portland for the second-highest score β€” 83 out of 100. But it takes more than well-developed bike infrastructure to get residents into the saddle. Minneapolis is a leader in increasing access to bikes. Its bike share program provides 10.8 docking stations per 100,000 residents β€” nearly 4x the studied city average (2.9). In addition, Minneapolis has 37% more bike shops than the average city, with 1.4 per 100,000 residents. Bike shops and bicycle advocacy groups help power the local economy, producing more than 5,500 jobs and $780 million in economic activity. Naturally, the city lends its full support, collaborating with local businesses and nonprofits on numerous car-free, open-streets events that cultivate a tight-knit cycling community.

2. Portland, Oregon

πŸ₯ˆ Pedal PushersΒ  Portland has the highest percentage of employees who commute by bike, with 1.1% cycling to work β€” 2.75x more than the studied city average (0.4%).
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In 1895, The Oregonian published a story titled "Reign of the Wheel: The Present Passion for the Bicycle Likely to Hold Out." The article has aged remarkably well. More than 100 years later, Portland is still a bike town with an enthusiastic base of supporters. Of the 50 most-populous metros, Portland ranks No. 8 for bicycle passion, with local residents searching the web for bike-related terms 33% more often than residents in other cities. Portland's bike community is nurtured through a number of community events, including the monthslong Pedalpalooza festival featuring hundreds of themed rides. It's easy to join in on the fun without spending a lot of money through Portland's bike share program, Biketown. The program provides a fleet of 1,000 bikes and 9 docking stations per 100,000 residents β€” 3x the number in the average city (2.9). There are plenty of opportunities to rent a bike in Portland, but cyclists who want to own their own wheels will find the highest concentration of bike shops per capita among the 50 largest U.S. metros. Portland sports 3.5 bike shops per 100,000 residents β€” 3x the number in the average city (1.1). Portland is one of the best places to cycle recreationally, but it's also a legitimate form of daily transportation. With more than 160 miles of bike lanes, 94 miles of neighborhood greenways, and 85 miles of bike paths, the city has earned a bikeability score of 83 out of 100, compared to the national average of 56. Safe street infrastructure has resulted in just 0.12 fatal crashes involving cyclists per capita β€” about 61% fewer than in the average city (0.31). Although Portland is certainly pedaling ahead of the pack, Minneapolis outperformed it in many key metrics, including trails and bike share docking stations per capita. What's more, the city is experiencing a puzzling decline in bicycle ridership, causing it to slip from last year's top position.

3. San Francisco, California

πŸ₯‰ The Bronze PedalΒ  San Francisco has 9.8 bike share docking stations per 100,000 residents β€” nearly 3.5x the number in the average city (2.9).
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California is the most bike-friendly state for cyclists with three cities in the top 15, but San Francisco breaks away from the pack. The city boasts a whopping 460 miles of total bike lanes and 2.2 trails per 100,000 residents β€” 21% more than in the average city (1.8). With such a developed bike network, it's no surprise San Francisco has earned a bikeability score of 72 out of 100. Ongoing infrastructure investments make biking to work a safe and convenient option for many employees, and about 1% of residents commute to the office by bike. That's the second-highest percentage on our list and 2.5x more than the studied city average (0.4%). San Franciscans enjoy some of the best biking infrastructure in the country thanks to powerhouse advocacy groups that have worked for decades to make the city more bike-friendly. The oldest group, the San Francisco Bicycle Coalition, organizes community events and partners with the city to provide in-class and on-road safety courses. The result is 44% fewer fatal crashes involving cyclists in San Francisco than in the average city. Bay Area bikers show a massive interest in cycling, ranking No. 4 in overall online search activity for bike-related terms. Specifically, San Francisco residents rank No. 2 in Google searches for "bike lanes," "cycling," and "bicycle." To meet such high demand for wheels, San Francisco has 2x more bike shops and 2.5x more bike rental shops than the average city.

4. Boston, Massachusetts

↗️ No Backpedaling Biking in Boston has gotten even better. The city improved to No. 4 on our list after ranking No. 8 in 2022.
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Boston may be best-known for its marathon, but cycling has a long and rich history in Beantown. The United States' first recreational bicycle club was founded in Boston in 1878, and since then, bike riders have only grown more passionate β€” searching the web for bike-related terms 12% more often than residents in other cities. The Boston cycling community is active in organizing meetups and events, such as the now-famous Midnight Ride of the Boston Marathon course on the eve of the race. Boston offers plenty of recreational opportunities for cyclists, but it has also developed its transit network to promote sustainable transportation. Boston officials hope to encourage 0.8% of employees to bike to work by 2030. With seven years to go, the city has almost achieved its goal. About 0.7% of Boston employees currently commute to work by bike β€” 75% more than the studied city average (0.4%). But the city isn't taking chances and is building additional bike infrastructure to ensure it meets its objective. With 59 miles of off-street paths and 17.5 miles of separated bike lanes, the city has earned a bikeability score of 69 out of 100, compared to the national average of 56. But there are gaps in the network that can cause accidents. Although Boston has 67% fewer cyclist-involved fatal crashes than the average city, harmful collisions still happen. In August 2022, activists from the Boston Cyclist Union formed a human bike lane during the morning commute to advocate for completion of the bike network. A few weeks later, the mayor announced the city would add 9.4 miles of new bike lanes by the end of 2023. Once completed, 35% of all Boston residents will live within a three-minute walk of the bike network. Residents can roll through the growing bike network on one of the city's many rental bikes. With 8.9 bike share docking stations per capita β€” 3x the number in the average city (2.9) β€” it's easy to access a bike from nearly anywhere in the city.

5. Washington, D.C.

πŸ€ͺ Cycle-pathsΒ  The District is tied with Minneapolis for the most bike share docking stations per capita, with 10.8 per 100,000 residents. That's nearly 4x more than the studied city average (2.9).
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The U.S. capital wasn't always a bike-friendly city, but local officials began pushing the pedal forward in 2010 when they piloted the country's first bike share program. Known as Capital Bikeshare, the program provides easy access to bicycles in its ever-expanding network of docking stations, which grew 9% from 2022 to 2023. The goal is for every resident to live within a quarter-mile of a docking station. Around the same time that Capital Bikeshare launched, the city began developing its cycling infrastructure. Since then, the District has built more than 100 miles of bike lanes and installed nearly 2,000 bike racks. The investment in infrastructure has earned the District a bikeability score of 92 out of 100 β€” the highest mark among all 50 cities studied. By building infrastructure that makes streets safer, the city has the 10th-lowest cyclist-involved fatal crash rate in the country. The District records 0.13 fatal crashes involving cyclists each year β€” 59% fewer than the national average (0.31). City officials hope prioritizing safety will encourage residents to hop on a bike more often. For new cyclists, there are a number of groups, such as DC Bike Party and Nice-N-Easy, that will welcome them to the community. Whether they're new or experienced cyclists, D.C. residents are passionate about biking and search for bike-related terms on Google 28% more than those in other cities.

6. Salt Lake City, Utah

🚴 Life Behind Bars Salt Lake City has 2.5x more bike shops than the average city, with 2.7 per 100,000 residents β€” the third-highest number on our list.
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Ranked No. 9 in our 2022 report, Salt Lake City has worked tirelessly to become a more bike-friendly city. The Folsom Trail and a number of others were completed last year, resulting in a 6% increase in trails per capita from 2022. Now, residents enjoy 3.3 bike paths per 100,000 residents β€” 80% more than in other cities (1.8). Salt Lake City cyclists can traverse the bike network with relative ease thanks to a top-five bikeability score of 74 out of 100 β€” 32% higher than the national average (56). That's led to 23% fewer fatal crashes involving cyclists and an increase in the number of residents who feel comfortable biking to work. From 2022 to 2023, the percentage of Salt Lake employees who commuted by bike rose from 0.6% to 0.7% β€” the fifth-highest rate on our list. Meanwhile, some students are even hopping on the trend and cycling to school by "bike bus." Promoting sustainable forms of transportation is a priority for the city to counteract increasing pollution, which manifests in 140 days a year of poor air quality. To get Salt Lakers rolling, the city's bike share program, GREENbike, provides 3.9 docking stations per 100,000 residents β€” 34% more than in the average city (2.9). The city also has 35% more bike rental shops than the average metro, with 0.6 per capita.

7. San Jose, California

πŸ’» Cycology 101 San Jose cyclists aren't the type to coast on their own knowledge. With a passion score of 67 out of 100, they search the web for bike-related terms 71% more than residents in other cities.
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San Jose is a notoriously expensive and sprawling city, resulting in long commutes and increased air pollution. As a possible solution to these problems, city officials are shifting their focus to bicycles as a low-cost and low-carbon way to traverse the city. Since 2009, the city has built 400 miles of on-street bike lanes and nearly 3,500 bike parking spaces, earning the city a bikeability score of 62 out of 100, compared to the national average of 56. San Jose already has the second-highest concentration of trails on our list, with 4.2 per 100,000 residents β€” 2.5x more than the average city (1.8). But the local government isn't stopping there. By 2025, the Better Bike Plan calls for 100 additional miles of protected bike lanes. City officials hope the upgrades will encourage more residents to increase their non-car trips throughout the city. About 1% of San Jose employees regularly ride their bike to work β€” 2.5x more than the national average β€” but the city has an ambitious goal of increasing that percentage to 20% by 2050. To do that, the city has made accessing a bike easy and affordable through participation in the Bay Wheels bike share program, which provides 3.1 bike share docking stations per 100,000 residents. What's more, San Jose has 2.5x more bike shops (2.8 per 100,000 residents) than the average city (1.1).

8. Denver, Colorado

πŸš΅β€β™€οΈ Ride the Rockies Denver residents are passionate about cycling culture, ranking No. 1 in Google search activity for bike-related terms.
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Colorado may be best known as a skiing and hiking destination, but it's also one of the best places in the U.S. to cycle. In Denver, there are 3.5 bike trails per 100,000 residents β€” about 2x more than the average number across all cities studied (1.8). Cyclists ready to hit the trails will have no trouble accessing a bike in Mile High City. With 2.3 bike shops and 0.6 bike rental shops per 100,000 residents, Denver has 115% and 36% more retailers than the average city, respectively. Denver has plenty to offer recreational cyclists, but it also accommodates those who want to bike for transportation. About 0.6% of employees commute to work by bike, and the transit system has grown to meet those needs. The city has built 137 miles of new bike infrastructure in the past five years, exceeding the goal of 125. Advocates, such as the Bike Denver Initiative and the Denver Bicycle Lobby, continue to push for more high-comfort bike lanes with physical barriers to reduce rising fatalities. But with a steadfast commitment to the Vision Zero network, Denver still has 24% fewer cyclist-involved fatalities than the average city. Support for safe cycling and a commitment to building bike infrastructure has earned Denver a bikeability score of 72 out of 100, much higher than the average score of 56 across all cities studied.

9. Seattle, Washington

πŸ›ž The Wheel Deal Seattle boasts 1.8 bike shops per 100,000 residents β€” 71% more than the average among all 50 cities studied (1.1).
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Seattle might not seem like an ideal city for cyclists with its hilly landscape and infamous rainy season, but this city is a tour de force in the biking community. Despite the geographical challenges, about 30% of Seattle's roughly 733,000 residents ride their bikes regularly. With a score of 58 out of 100, the city's bicycle base is passionate about cycling culture and searches the web for bike-related terms at the sixth-highest rate among all cities studied. Seattle utilizes innovative bike lane design with plenty of physical barriers, leaning rails, and bike-specific traffic signals β€” earning the city a bikeability score of 71 out of 100, compared to 56 nationwide. Additionally, the Vision Zero commitment is taken seriously, and Seattle has just 0.12 cyclist-involved fatal crashes per 100,000 residents β€” about 60% less than the average city (0.31).

10. Providence, Rhode Island

❗️ Spoke-tacular With 3.7 bike paths per 100,000 residents, Providence has more than double the number of trails as the average city (1.8).
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In 2020, former Providence mayor and avid cyclist Jorge Elorza implemented the Great Streets Initiative, which aimed to increase mobility through 43 miles of new trails, 22 miles of neighborhood greenways, and 6 miles of upgrades to existing bike lanes. With help from local advocates, such as RI Bike, results of the ambitious plan are starting to show. Providence is one of the most-improved bike cities on our list, rising 13 spots from No. 23 in 2022 to No. 10 in 2023. Cycling can be an expensive hobby, but the state is working to make it more affordable by offering rebates to residents who purchase e-bikes. For casual cyclists who don't want to bust their budgets, Providence is a top-five city for bike rental shops, with 1 per 100,000 residents. Additional bike infrastructure will be a boon to those bike businesses as more residents have access to safe bike paths nearby. With just 0.12 cyclist-involved fatal crashes, Providence is already the seventh-safest bike city on our list, but the city reiterated its commitment to safe streets by joining the Vision Zero network in 2022.

11. Hartford, Connecticut

πŸš— Sharing the Road Hartford is one of the safest cities for cyclists with just 0.08 fatal bike accidents per 100,000 residents β€” the fewest among all cities in the top 15.
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Hartford has made significant progress in becoming more bike-friendly, jumping 13 spots from No. 24 in our 2022 study. But biking has yet to gain a lot of traction in Hartford. Overall, locals search for bike-related terms on Google 13% lessΒ than residents in other cities. However, Hartford residents show a particular interest in "bike tours," ranking No. 3 in online search activity for the term. With 0.9 bike rental shops per 100,000 residents β€” nearly double the studied city average (0.47) β€” it's easy to find a bike in Hartford and take a spin through the city. Cyclists who want to explore off the beaten path will find plenty of trails overlooking picturesque rivers and ravines. Hartford boasts the fourth-largest trail network, with 3.7 trails per 100,000 residents. That's 2x more than the studied city average (1.8). Hartford cyclists have to contend with 130 days of precipitation each year, but when the skies clear, bike riders enjoy some of the cleanest air in the country. The city ranks No. 5 for air quality, with pollution reaching unhealthy levels just 38 days each year.

12. Milwaukee, Wisconsin

🎢 Get On Your Bikes and Ride! With 1.4 bike shops per 100,000 residents, Milwaukee has 34% more than the average city (1.1). With so many options to choose from, it's no surprise Milwaukee ranks No. 3 in online search activity for the term "bicycle shop."
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Milwaukee has long been home to a vibrant cycling community, with unique bike events at every turn. This year, the city's busy bike schedule includes the return of the clothing-optional As Bare As You Dare bike ride, the Colectivo Coffee Beans Classic mountain bike race, and the Santa Cycle Rampage in which cyclists don Santa suits and take to the streets. But no schedule is complete without the annual Riverwest community event, a 24-hour bike ride that draws about 1,000 cyclists each year. Who wouldn't want to get in on the action? Those in need of a bike will have no problem finding one around town. Milwaukee's bike share program, Bublr Bikes, provides 6.3 docking stations per 100,000 residents β€” more than double the average in all 50 metros (2.9). The program also offers adaptive bikes, making cycling more accessible to all riders. With 3.4 bike trails per 100,000 residents β€” 88% more than the national average β€” Milwaukee has trails for extreme cyclers and casual riders alike. The 100-mile Oak Leaf Trail is a local favorite, while the Beerline Trail near the city's old breweries is well suited for shorter trips. Biking is a popular pastime in Milwaukee, but wheels are also made for working. About 0.3% of Milwaukee employees cycle to work on the city's 160 miles of bike lanes. Cars know how to share the road with bike riders, resulting in 18% fewer fatal crashes involving cyclists than in the average city.

13. Raleigh, North Carolina

βš™οΈ Mud, Sweat, and (Bike) Gears Raleigh has more bike trails than any other city in our study, with 4.6 per 100,000 residents. That's more than 2.5x the studied city average (1.8).
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With a bikeability score of just 39 out of 100, Raleigh still has miles to go in making the city more traversable by bike. However, Raleigh has added 53 miles of on-street bike paths in the past five years β€” including 10 miles in 2022 β€” and has made progress on the 17-mile Triangle Bikeway that would connect Raleigh, Durham, and Chapel Hill. In 2023, the BikeRaleigh Plan calls for repaving streets, installing bike racks, building and upgrading bike lanes, adding bike lane separators, and improving pavement markings. Thanks to similar safety upgrades, Raleigh has 33% fewer cyclist-involved fatal crashes than the average city. Although city governments don't always work in high gear, advocacy groups, such as Oaks and Spokes, have stepped in to help residents envision better transportation solutions. The group has collaborated with the city to organize pop-up traffic lanes and traffic gardens. Raleigh makes bike access a priority with 0.8 bike rental shops per 100,000 residents β€” 62% more than the studied city average (0.5). What's more, the Cardinal Bikeshare program provides a fleet of rental bikes with 2.3 docking stations per 100,000 residents spread throughout the city for easy access to the city's many trails.

14. Sacramento, California

⚑️ Pedal Power About 0.9% of Sacramento employees commute to work, the fourth-highest percentage among all 50 cities studied.
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You don't need to be a sprocket scientist to understand why Sacramento is one of the most bike-friendly cities in the U.S. California's capital has a bikeability score of 67 out of 100 and continues to invest heavily in bike infrastructure. The city has numerous ongoing projects and was recently awarded a $5 million grant from the California Transportation Commission to add more protected bike lanes in the midtown and downtown areas. About 60% of Sacramento residents are interested in traveling by bike but are worried about sharing the road with motorized vehicles, according to research from the city. To allay concerns, the local government offers a free urban bicycle class on a monthly basis to teach cyclists the rules of the road and other safety tips. As a result, Sacramento has just 0.21 cyclist-involved fatal crashes per 100,000 residents β€” 33% fewer than the studied city average (0.31). Local organizations, such as the Sacramento Area Bicycle Advocates, lend additional support to the cycling community by providing safety lights, simple repairs, and bike valet at certain events. Through such efforts, the city has developed a passionate base of bicycle supporters. In fact, Sacramento residents search for bicycle-related terms on Google 35% more often than residents in other cities. Today's cycling community owes much to early bicycle enthusiasts. In 1896, the Sacramento Wheelmen cycling club laid the cinder foundation for what would become the city's crown jewel, the 32-mile American River Parkway. Now, Sacramento boasts 22% more bike trails than the average city, with 2.2 per 100,000 residents.

15. New York, New York

πŸ—½ Spokes-people In their spare time, New Yorkers search for bike-related terms on Google 30% more than residents in other cities.
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With more than 550,000 cycling trips made each day in New York City, biking is an important part of the commuter landscape. New Yorkers are surprisingly good drivers, and the number of fatal crashes involving cyclists (0.14 per 100,000 residents) is 56% fewer than in the average metro (0.31). But the sheer number of motorists clogging the roadway and slowing the daily commute make biking a preferable mode of transportation. Approximately 0.7% of New York workers commute by bicycle β€” 75% more than the studied city average (0.4%). The commuter crowd enjoys 1,525 miles of bike lanes, and the city is always investing and improving its bicycle infrastructure. That's earned New York a bikeability score of 69 out of 100, compared to the national average of 56. With a slightly below-average number of bike shops per capita, however, New York struggles to meet rising demand for bikes. Luckily, the city's bike share program, Citi Bike, can bridge the gap. New York City boasts 8.6 bike share docking stations per 100,000 residents β€” nearly 3x more than the studied city average (2.9).

Rankings by Category
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The Least Bike-Friendly Cities in the U.S.

Oh, shift! Some cities can really grind cyclists' gears. Of the 50 most-populous metros, these are the worst 10 for bike riders:
  1. Memphis, Tennessee
  2. Houston, Texas
  3. Riverside, California
  4. Oklahoma City, Oklahoma
  5. Phoenix, Arizona
  6. Jacksonville, Florida
  7. San Antonio, Texas
  8. Charlotte, North Carolina
  9. Virginia Beach, Virginia
  10. Dallas, Texas
Dallas, the last place finisher in 2022, has made significant progress in becoming more bike-friendly. Rental bikes are returning to Dallas streets after a three-year ban caused the number of bike share docking stations to drop to zero. That number has since increased to 0.8 per 100,000 residents in 2023. The number of bike trails in Dallas (1.5 per 100,000 residents) has also increased 7% since 2022, with many more scheduled for completion in the coming years. A 50-mile loop trail surrounding the city's urban core is scheduled for completion in 2026, while 4 miles of mountain bike trails and a 66-mile trail connecting Dallas and Fort Worth should be finished by the end of 2023. Meanwhile, Memphis is losing speed, dropping four spots from its 2022 ranking to replace Dallas as this year's lanterne rouge. Memphis has a bikeability score of just 41 out of 100, indicating minimal bike infrastructure. The city has added 270 miles of bike lanes since 2010, but cyclists and motorists often struggle to coexist. Memphis has one of the highest cyclist-involved fatal crash rates at 0.37 per 100,000 residents β€” 21% more than the average rate of 0.3 in all 50 cities studied. With such a high death rate, it's perhaps not surprising that residents show little interest in biking. They spend a dismal amount of time searching the web for bike-related terms, resulting in a passion score of just 15 out of 100 β€” the lowest score on our list. Lack of interest has made accessing a bike in Memphis more difficult than in other cities. The city has just 0.3 bike rental shops and 2 bike share docking stations per 100,000 residents β€” 36% and 31% fewer than the average across all cities studied, respectively. Memphis also lags behind other cities in the number of bike trails within the metro area. With just 0.4 per 100,000 residents, it has 78% fewer bike trails than the average city in our study (1.8).

Methodology

The cities in this study are ranked according to 15 different factors, which were independently weighted and combined to produce our final results. The factors are:
  • 5x: The bikeability of the metro area based on Walk Score's bike score.
  • 5x: The number of bike trails per 100,000 residents, emphasizing access to non-road bike areas.
  • 4x: The number of cyclists involved in fatal motor vehicle crashes in 2021 per 100,000 residents.
  • 3x: The number of bike shops per 100,000 residents, including bike repair locations.
  • 3x: The number of bike share docking stations per 100,000 residents.
  • 2x: The percent of median household income spent on a single comprehensive bike tuneup every year.
  • 2x: An average of the high temperatures each metro experiences annually. Lower temperatures are ranked higher.
  • 2x: The number of bike rental shops per 100,000 residents.
  • 2x: The number of days the metro has a moderate air quality index score of above 50 but below 100. Below 50 is considered "good," and lower values are ranked higher.
  • 1x: The number of wet weather days per year. Lower values are ranked higher.
  • 1x: An average of the low temperatures each metro experiences annually. Higher temperatures are ranked higher.
  • 1x: Total search volume for 10 bicycle-related search terms on Google such as "biking," "cycling," and "bike trails."
  • 1x: The percentage of workers who commute by bicycle. A higher percentage may act as an indicator of bicycle-friendly transportation infrastructure.
  • 1x: Commitment to Vision Zero, a nonprofit campaign helping communities commit to transit and bicycle safety with the goal of eliminating traffic fatalities and injuries.
  • 1x: A Pollfish survey of 1,000 Americans, who identified cities that are the least bike-friendly.
Data sources include the U.S. Census American Community Survey, U.S. Department of Transportation, National Highway Traffic Safety Administration, National Centers for Environmental Information, U.S. Environmental Protection Agency, Vision Zero Network, Google Trends, Traillink.com, Walkscore.com, Biketoworkday.us, and Yelp. For cities that lacked 2021 data for cyclists involved in fatal crashes, we used 2020 estimates.

About Clever

Since 2017, Semya-Moya has been on a mission to make selling or buying a home easier and more affordable for everyone. About 12 million annual readers rely on Clever's library of educational content and data-driven research to make smarter real estate decisionsβ€”and to date, Clever has helped consumers save more than $160 million on realtor fees. Clever's research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more.

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FAQs

What is America's most bike-friendly city?

Minneapolis is the most-bike friendly city in the U.S. The city is tied with Portland for the second-best bikeability score among the 50 largest U.S. metros, scoring 83 out of 100. With 10.8 bike share docking stations per 100,000 residents, Minneapolis also boasts 4x more than the average city (2.9). Learn more.

Which city is not considered a top U.S. cycling city?

The least bike-friendly city in the U.S. is Memphis, Tennessee, followed by Houston and Riverside, California. Memphis has 21% more cyclist-involved fatal crashes than the average city. The city also has poor bike infrastructure, with just 0.4 bike trails per 100,000 residents β€” 78% fewer trails than the studied city average (1.8). Learn more.

Where are the best cities for year-round cycling?

San Francisco is the best city for year-round cycling. It's the only city among America's 50 largest metros that has below-average days of wet weather (71), below-average days of poor air quality (83), below-average high temperature (64 degrees), and average low temperature (51 degrees). Learn more.

The post The Most Bike-Friendly Cities in the U.S. (2023 Data) appeared first on Semya-Moya.

]]> How to Sell a House By Owner in Texas (2023 Update) https://semya-moya.ru/real-estate-blog/how-to-sell-a-house-by-owner-in-texas/ Wed, 12 Jul 2023 20:44:09 +0000 https://semya-moya.ru/how-to-sell-a-house-by-owner-in-texas/ Selling your house without a realtor can save you 4.63% to 6.54% in Texas. Find out more about the FSBO process, its pros and cons, and tips for success.

The post How to Sell a House By Owner in Texas (2023 Update) appeared first on Semya-Moya.

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Why trust us: To create this guide, we surveyed and interviewed Texas real estate agents, studied Texas real estate law, and researched more than 20 FSBO companies and alternatives. We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Learn more about why you can trust our advice.

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Selling your home without a realtor in Texas means you won't have to pay the average listing commission of 2.71% of your home's sale price. On a typical home sale in Texas, that would equal $8,087 in savings.

However, selling on your own β€” also called for sale by owner or FSBO β€” is a lot of work. This is one reason why only 10% of home sales are by owner. You'll need to do all of the work an agent usually does, including pricing, scheduling showings, negotiating offers, and filling out closing paperwork without a realtor's help.

Selling FSBO is something you should only take on if you have the time and experience to actually save money in the end. This guide will help you decide if selling without a realtor in Texas is a good idea for you.

Who should sell a house by owner?

Not everyone will benefit from selling without a realtor. Before making a decision, carefully weigh the pros and cons of FSBO and how they apply to your specific situation.

Selling without a realtor in Texas could be a good choice if:

  • You've sold a home before, either on your own or with the help of a realtor. You'll know what to expect from the selling process.

  • You know a real estate expert you can turn to for advice. Having a friend or family member willing to provide advice (for free) is a huge advantage.

  • Your schedule allows you to do the work of an agent. Acting as your own agent means being available to answer questions and schedule appointments for showings.

  • You already know who you're selling to. Finding a buyer is most of the work of selling a home. If you already have a buyer lined up, you can focus on closing and all the work that goes into it.

  • You want to oversee all aspects of the selling process. If you want to be in total control of selling your home, from pricing to final negotiations, FSBO gives you that control.

If two or more of these criteria don't describe your situation, your best bet is to go with an agent.

If saving money on realtor commission is what you’re after, it’s worth looking into real estate agents who’ll work at a lower-than-typical commission. Semya-Moya matches sellers in Texas with experienced, local agents who offer traditional service for just 1.5%. You can save money and the headache of doing it all on your own.

In addition to looking into FSBO, reach out to Clever to connect with multiple agents in your area. You can interview agents and get a free home valuation so you’ll know you’ve explored all of your options.

Connect with top, local agents in Texas!

How to sell a house by owner in Texas

Here are 6 steps to sell a house by owner in Texas:

  1. Prepare your home for sale

  2. Set a price

  3. List your home

  4. Show your home

  5. Negotiate the best price

  6. Close
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As a FSBO seller, you need to know and understand all your responsibilities, which include preparing your home for sale, pricing your home accurately, finding buyers, negotiating, and filing the paperwork required by state and federal law.

However, real estate laws vary across the country. For example, some states don't allow sellers to put a FSBO sign in their yard if they list on the multiple listing service (MLS) using a flat fee MLS company. You'll want to make sure every part of your FSBO sale is legal and won't cause problems later on.

Here's an overview of what laws you need to know in Texas.

Texas FSBO facts
Real estate attorney required? No
FSBO yard sign allowed? Yes
Required state disclosures?
  • Seller’s disclosure notice
  • Flood zone statement
  • Lead-based paint disclosure
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Although selling your home without a realtor may seem like a great way to save on realtor fees, it’s trickier than many people expect. If it becomes overwhelming, you can hire an agent at any time.

Working with a low-commission real estate company may be a better option for those who don’t have time to sell FSBO. You'll avoid the hassle of a FSBO sale and walk away with the most money possible. Clever saves sellers thousands, and they get offers 2.8x faster than the national average.

πŸ‘‹ Skip the DIY: Get a better agent AND bigger savings

Why do all the work of selling FSBO only to end up with less money than you would have with an agent? Clever offers you bigger savings without sacrificing the service you expect from a traditional realtor.

With Clever:

βœ… You'll only pay 1.5% to list your home

βœ… You'll work with a full-service realtor from a top broker

βœ… It's free, with zero obligation β€” you can walk away at any time

Saving on realtor fees doesn't have to mean sacrificing service. Find a top local agent today!

Step 1: Prepare your home for sale

Small upgrades and repairs can do a lot to sway potential buyers. The key is knowing how to spend your money to get higher offers. Simple DIY projects like a fresh coat of paint or new cabinet pulls have a high return on investment, whereas pricier improvements like adding a new bedroom may not.

Also, consider how valuable specific repairs are to buyers in your area. We asked top agents in Texas what repairs they think help a home sell for more. Here are some additional repairs you can make before selling:

  • Roof repairs or replacement β€” Because they live in areas with high winds and storms that drop hail, Texans want a roof in good condition. Buyers may not see a leaky roof when they're walking through your home, but inspectors and appraisers will definitely notice. Get a pre-sale inspection to make sure your roof is in good working order. A roof can be expensive to replace, but leaving it as is could kill a sale.
  • Foundation repairs β€” Concrete slab foundations are common in Texas, but they're susceptible to extreme heat. When the soil dehydrates in the summer, it shrinks and shifts, causing cracks in your foundation. If you notice cracks in your walls, uneven floors, or jammed doors and windows, it could indicate foundation problems. Most foundation repair companies offer free estimates, but problems can be expensive to fix.
  • Updated kitchen β€” Most buyers want a move-in ready home, including a modern kitchen with quartz or granite countertops. A walk-in pantry is a major selling point, with 54% of buyers saying it's desirable. But if it requires knocking down walls or building an addition, it may not be worth the investment.
  • New HVAC β€” Texans don't want their cooling system to stop working in August. Dispel any fears by replacing your HVAC, especially if it's 10–20 years old. If you can't afford to replace it, get a tuneup and have a service contract to show potential buyers.

Β» LEARN: The Best Paint Colors to Sell a House

πŸ€”Selling "as is" in Texas

Selling a home "as is" means you won't make any repairs, and the prospective buyer will purchase the home in its current condition. You'll likely turn a higher profit if you fix up your home, but if you need to move quickly or don't have money for repairs, selling "as is" may be right for you.

If you're selling your home sans repairs, write in the listing description that the home will be sold "as is" and repairs are not negotiable. Disclose any significant problems, such as mold, asbestos, or water damage. The price of the home should be lowered to reflect the cost of making significant renovations.

Β» READ: Should I Sell My House As Is or Fix It Up?
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Photograph and stage your home

You'll need professional photos for your listing. You'll want to showcase a clean and furnished home for potential buyers to see.

When you're in the process of moving or have already moved to a new home, you might have left your home empty before the sale. Instead of leaving it empty, you could hire a company to stage it.

A well-staged home can help you sell faster and for more money. However, this could cost you several hundred dollars a month per room to fill it with the right furnishings.

In Texas, homeowners will want to see:

  • A backyard staged with patio furniture for outdoor entertaining
  • Flex spaces staged as a home office, gym, or playroom
  • A walk-in pantry, if you have one, with storage bins
  • Lots of space, so consider moving extra furniture to storage
  • Lots of light, so open or remove curtains that might darken a room

Bonus tip: Hire a professional stager who knows your local market and can ensure your home is ready to impress, giving you one less thing to worry about. In Texas, expect to pay between $2,000–3,500 in upfront staging costs. This will get you 60–90 days of a fully designed living room, kitchen, dining room, master bedroom, and bathrooms. Prices vary from city to city, so be sure to give local companies a call for specific estimates.
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Step 2: Set a price

Pricing strategy can make or break a FSBO sale. List your home for too little, and you leave money on the table. Price it too high, and the listing goes stale, forcing a price drop that could make buyers wary of the home.

To get an accurate idea of your home's fair market value without a realtor's help, look at comparable listings online in your area. For example, if you think your house is worth about $300,000, search Zillow, Redfin, or other listing sites for properties that are about $50,000 more or less than that target. Analyze details about the homes and how they compare to yours.

A pre-sale appraisal gives you a more accurate starting point for pricing your home. In Texas, appraisals average $320 to $425 but help you walk away with thousands more once your home is sold.

Bonus tip: Ask an agent to perform a comparative market analysis examining comparable properties that have sold recently in your neighborhood. Many realtors will do this for free in the hopes of gaining your business if you decide to forego FSBO.
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Β» LEARN: What is a Comparative Market Analysis?

State of the Texas real estate market

To find the right price for your Texas home, look at current trends in your local housing market. Like the rest of the U.S., housing sales are slowing down in Texas. There were 32.1% fewer home sales in late 2022 compared to late 2021. Houses are also sitting on the market for almost twice as long β€” 48 days compared to 27 days a year ago. All of this means you'll take a bit longer to sell your home in 2023 than you would have in 2021.

Median home value* $296,127
Median listing price⁺ $365,000
Listing price per square foot⁺ $183
Percent of homes with price reduction⁺ 21.0%
*Based on data from Zillow (November 2023)
⁺Based on data from Realtor.com (November 2023)
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The good news is that home prices haven't fallen, even if they've leveled off a bit. The median sale price of a home in Texas is up 3% from a year ago. But the market is cooling in Texas, and home values will likely continue to shrink. You're better off selling sooner rather than later.

With home values flattening, you might think that FSBO is a good way to maximize your profits. But remember that you risk selling for less overall when you choose to sell without a realtor.

Sell a Home with Clever and Save Thousands!

Enter your ZIP code to find a Clever partner agent in your area.

Step 3: List your Texas home

Once you've decided on a price, it's time to write a listing description that speaks to local buyers. Understanding their priorities will help you identify what features of your property to highlight in your listing. Here are some of the top buyer priorities in Texas according to real estate professionals.

Texas buyer priorities Advice for FSBO sellers
Backyard amenities With mild winters and year-round warm temperatures, Texans spend a lot of time outside. They value shaded patios and pools to cool off in the summer, as well as outdoor kitchens and dining sets for backyard barbecues. A storage shed for tools, boats, or ATVs is a bonus.
Architectural style Texas has a wide range of architectural styles, from Craftsman to Victorian and Spanish Colonial Revival. In your listing description, talk about unique architectural features, such as original flooring, that could set your home apart. Let buyers know if your home was built by Charles Dilbeck, Clifford Hutsell, or another famous Texas architect.
Energy efficiency Texas summers are sweltering, especially in southern parts of the state. As temperatures rise, so does energy use. If you've sprayed additional insulation in your home or installed energy-efficient windows or appliances, mention that in your listing. Consider including a recent utility bill.
Sprinkler system Let buyers know if you have a sprinkler system. Not only will it keep the yard green under intense summer heat, it will keep the dirt around the foundation moisturized to prevent cracking.
Low property tax rates Texas doesn't have state income tax, but it does have some of the country's highest property tax rates. Property tax rates in Texas are set at the local level. If your home is located in a county that has a tax rate lower than the state average, include that in your listing.
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Where to list your home

The best place to market your home is on the MLS. MLS listings populate onto real estate websites like Zillow, increasing your home's online presence. That's important because 51% of buyers found the homes they purchased via the internet.

However, agents are the only ones who can list on the MLS. You can work with an agent and still maintain control of your sale by using a flat fee MLS company that charges a one-time payment to list your home on the MLS.

It usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months. Additional services, such as a virtual tour, downloadable contracts, and free changes to your listing, are often bundled into more expensive packages β€” but they're still typically cheaper than paying a listing agent's 3% commission fee. Find the best flat fee MLS companies in Texas.

As a FSBO seller, you also have several free or low-cost options.

  • For sale by owner websites: There are several well-established and recognized for sale by owner sites that cater specifically to people wanting to buy or sell FSBO homes.
  • Social media: Post your home listing to Facebook, Twitter, Instagram, and Nextdoor. Sharing is free, and you can reach a lot of people where they’re already spending time.
  • For sale by owner yard sign: You can buy a FSBO sign from most hardware stores or online for $20–50. Choose one that allows you to add your phone number so interested buyers can contact you for property information and showings.
  • Craigslist: Posting your home on Craigslist is free and simple. Just go to the Texas page, find your city, and create a "real estate β€” by owner" listing.

Β» MORE INFO: Learn How to Sell a House on Craigslist

Step 4: Show your home

Organization is key when showing your home to potential buyers. You'll need a good scheduling system and a spreadsheet to save buyers' and agents’ contact information. You'll want to be flexible and try to show your house at buyers’ convenience.

Keep the home clean and decluttered at all times. The last thing you want is to scramble with a vacuum after a buyer calls for a last-minute showing.

πŸ™‹πŸ»β€β™€οΈ Ask a Realtor: "Clean top to bottom. Houses are selling fast, but clean sells," said J.C. Young, a realtor with more than 10 years experience in the Texas market. "We have such low inventory, buyers can overlook a few things like a kitchen or bathroom that's not updated if the shower and tub are sparkling clean. It makes them feel like there’s pride of ownership there. That emotion carries throughout the house."
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Step 5: Negotiate for the best possible price

Negotiations are about more than the final sale price. You and the buyer (or their agent) will also have to agree upon contract contingencies, how closing costs are divided, the timeline, and more.

To gain the upper hand, get creative with the seller concessions you offer a buyer. While they might cost you a little more at closing, concessions sweeten the deal for buyers and could lead to a higher final sale price.

Knowing what's important to buyers in your area will help you strengthen your offer. A Clever survey of local real estate professionals found that in Texas, sellers often cover 1.40% to 2.30% of buyers' closing costs. On a home of median value, that will cost an additional $4,146 to $6,811.

You should also consider offering these popular seller concessions:

Concession Benefits of offering concession
Home Warranty If your home has major appliances or systems that are on their last leg, a home warranty can give buyers peace of mind. A warranty will cover possible issues and is typically less expensive than paying for the repairs (or accepting a lower offer from a wary buyer).
Mortgage Discount Points While the cost varies between lenders, mortgage points lower a buyer's interest rate and can save them thousands over the years. If you offer to buy mortgage discount points, it can seal the deal for some buyers β€” especially with buyers who don't plan to move again for several years.
Repair Credits Repair credits are win-wins for buyers and sellers. You'll credit the buyer a set amount to cover the cost of repairs. Once the deal closes, the buyer can personally oversee the project to their liking and you don't have to worry about repairs going over budget.
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Step 6: Close

Closing is the final step in a real estate transaction. The title of the property is officially transferred from the seller to the buyer, and both parties pay their closing costs.

Use a title company to facilitate a smooth closing. Title companies collect and distribute closing costs, collect signatures, ensure sellers have the right documents, and file them with relevant agencies.

In Texas, the buyer and seller can negotiate who chooses the title company.

Β» READ: How Much are Closing Costs for Sellers in Texas?

πŸ€”Do I need a real estate attorney to sell my house in Texas?

Texas doesn't require a real estate lawyer to be present at closing, but if you're selling for sale by owner, you may want one to ensure you comply with local laws and protect you from being sued.

Unlike realtors, real estate attorneys don't have knowledge of the local market and can’t help you negotiate the price of your home, but they can write a purchase and sale agreement and other legal contracts. Hire one if you want a contract that's free of loopholes, ensures the best terms for you, and protects you against a breach of contract.

Real estate attorneys usually work for an upfront flat fee or an hourly rate costing a few hundred dollars. In Texas, a real estate attorney will cost about $230 an hour on average. Find Texas lawyers near you by searching the state bar association, Avvo, or FindLaw.
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Paperwork to sell a house by owner in Texas

In a typical real estate transaction, your agent will make sure you fill out all the necessary documents and forms. As a FSBO seller without a realtor, you'll have to navigate the paperwork by yourself. Here’s a quick breakdown of Texas’ requirements.

Want to save this list for later? Download our FSBO paperwork checklist to help you prepare for your sale.

Required for all Texas real estate sales

Two forms of ID In most cases, a valid passport, driver's license, or other form of Texas-issued ID.
Copy of purchase and sale agreement and addendums Copy of the original, signed sales agreement, as well as any agreed upon changes.
Closing statement A detailed list of all the costs associated with the sale and who pays them. This is often prepared by your escrow agent or title company.
Signed deed To legally transfer your property, you'll need the deed that proves you're the rightful owner. At closing, you'll sign the deed over to the buyer.
Bill of sale This is basically a receipt that includes both your information and the buyer's. It will also list the final price of the home and what was included in the sale.
Affidavit of title A notarized document that states you own the home, that there are no liens on the property, and that you are not simultaneously selling the home to someone else.
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Additional documents

Loan payoff information If you have a mortgage on your home, you'll need documentation of exactly how much you still owe and any payoff fees. If you've already paid your mortgage in full, you'll need documentation proving that.
HOA forms and guidelines If your home is part of an HOA, you'll need to give the buyer documentation on the covenants, codes, restrictions, financial history, required fees, and approval process.
Survey results or survey affidavits A survey or an affidavit verifying a previous survey proves exactly where the property lines are.
Home inspection results If you had a pre-sale inspection, you'll want the results to compare to the buyer's inspection. If having a buyer's inspection was part of the sales agreement, you should receive a copy of the results before closing.
Proof of repairs or renovations Documentation proving any major repairs or changes to the house help verify its fair market value. These receipts also provide buyers with information about who to contact if they discover issues with the repairs in the future.
Home warranty information The home warranty service agreement will explain what is covered, for how long, and costs associated with the policy.
Copies of relevant wills, trusts or power of attorney letters If you are selling an inherited property, you'll need copies of all legal documents that passed ownership to you.
Relevant affidavits (name affidavits, non-foreign affidavit under IRC 1445) You may need additional affidavits like a name affidavit, which lists all of your or the buyer's previous names, or an affidavit proving you are not a foreign citizen and, therefore, exempt from certain property sales taxes.
Closing disclosure If your buyer is taking out a mortgage and you agreed to certain seller's concessions, you may need a copy of their closing disclosure to verify the lender approved your concessions.
Correction statement and agreement If forms are lost or errors are discovered in the future, a correction statement and agreement requires you, the buyer, or their lender to replace or fix those documents.
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Texas disclosure forms

Seller's disclosure notice The seller disclosure statement details known issues with your home and its major appliances and systems.
Flood zone statement With some federally backed mortgages, your buyer's lender might require information about the property's flood risk.
Lead-based paint disclosure If your home was built before 1978, federal law requires that you disclose information about the dangers of lead-based paint.
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Where to find documents

Need a document that's not on the list? The Texas Real Estate Commission website has dozens of blank contracts, forms, and reports. The documents are intended for real estate agents, but they're available for free public use if you're working without a realtor.

You can also find free downloadable forms online through LawDepot or eForms. Some services, such as US Legal, combine the most popular state-specific real estate forms into a package that FSBO sellers can purchase for a small monthly subscription.

When you're looking for other documents, such as tax records, property surveys, and deeds, check state or local government offices, such as your tax assessor’s office or department of revenue.

Just remember, many closing documents are legally binding agreements. Errors can result in an unenforceable contract that could derail your sale and cost you thousands in fees. To avoid an expensive mistake, consider working with a low-commission realtor.

πŸ‘‹ Skip the DIY: Get a better agent AND bigger savings

Why do all the work of selling FSBO only to end up with less money than you would have with an agent? Clever offers you bigger savings without sacrificing the service you expect from a traditional realtor.

With Clever:

βœ… You'll only pay 1.5% to list your home

βœ… You'll work with a full-service realtor from a top broker

βœ… It's free, with zero obligation β€” you can walk away at any time

Saving on realtor fees doesn't have to mean sacrificing service. Find a top local agent today!

FSBO alternatives

If saving money is your main reason for selling your home by owner, there are alternatives.

Semya-Moya

Clever is a nationwide real estate service that connects sellers with top, local agents. You pay Clever nothing. You'll only pay your full-service agent a 1.5% listing fee if and when your home sells.

Semya-Moya

Get Started

πŸ’² Listing Fee

1.5% ($3,000 min.)

πŸ’° Buyer Savings

Cash back after closing

⭐ Avg. Customer Rating

5/5 (2,735 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Try Clever for free β€” save thousands on commission!

  • Clever is a free, nationwide agent matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
  • You get multiple agent matches so you can interview several, compare marketing plans, and choose the best fit.
  • Clever pre-negotiates low rates on your behalf β€” you get full service for just a 1.5% listing fee ($3,000 minimum).
  • If you buy with Clever, you can get cash back to help pay for your move.
  • You may not get matched with an agent from your preferred real estate brokerage.
  • Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Discount real estate services in Texas

Discount real estate companies can help you sell your house for less than a traditional realtor, although pricing and services vary. In most cases, you'll still need to offer a competitive buyer's agent commission, but you'll save on listing fees.

Redfin

Full Review

πŸ’² Listing Fee

1.5% (min. fees vary)

πŸ’° Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service β€” especially agent experience and availability.

Read the full Redfin review.

  • If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
  • Redfin gives its listings premium placement in its popular home search app.
  • If finding the right agent is a top priority, you'll have limited options β€” Redfin only has a few agents in each of its markets.
  • Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Redefy

Full Review

πŸ’² Listing Fee

$3,500 (1% above $1M)

πŸ’° Avg. Savings

$8,500

⭐ Avg. Customer Rating

4.6/5 (300 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redefy’s flat fee could offer big savings. But hands-off service and non-refundable upfront fees make it a hard sell over other, less risky options.

Read the full Redefy review.

  • Flat $3,500 listing fee is an excellent value for higher-priced homes
  • Agents provide more in-person services than some similarly-priced low commission brands
  • Redefy charges an upfront, non-refundable $500 fee (most companies don't make you pay anything until your house sells)
  • Your agent will not host an open house for you

Redefy has a 4.6 out of 5 rating (300 reviews) across popular review sites like Google and Zillow.

Read reviews from real Redefy customers here.

Redefy is available in the following areas: CO, FL, GA, IL, NC, SC, TN, TX, VA.

SimpleShowing

Full Review

πŸ’² Listing Fee

1% (min. $3,500)

πŸ’° Avg. Savings

$6,375

⭐ Avg. Customer Rating

5.0/5 (336 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

SimpleShowing’s commission savings are solid β€” but you may compromise on agent selection and hands-on service.

Read the full SimpleShowing review.

  • SimpleShowing is one of the only true 1% commission companies.
  • It also offers one of the largest home buyer rebates of any low-fee brokerage.
  • You have very few options when it comes to selecting your agent.
  • Agents handle more customers than the average realtor, which could impact service quality.

SimpleShowing has a 5.0 out of 5 rating (336 reviews) across popular review sites like Google, Trustpilot, and Zillow.

Read reviews from real SimpleShowing customers here.

SimpleShowing is available in the following areas: FL, GA, TX.

Β» COMPARE: Discount Real Estate Brokers: Who's the BEST in 2021?

Flat fee MLS companies in Texas

A flat fee MLS service will post your listing on the local MLS, usually for a low, upfront fee. In Texas, this will typically cost you a couple hundred dollars.

Unreal Estate

Learn more

πŸ’² Listing Fee

$99–599

⭐ Avg. Customer Rating

4.3
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Unreal Estate offers service nationwide.

It has some of the best rates to list on the MLS, but listings in some states come with a minimum fee.

  • Three budget-friendly flat fee options to choose from.
  • Flexibility to determine the commission for a buyer's agent.
  • Listings remain active for a minimum of six months.
  • Only the premium plan fulfills all our criteria for essential service quality.
  • Concierge service information is challenging to locate.
  • No packages provide the maximum number of listing photos.

Customers have given Unreal Estate an average rating of 4.3 out of 5 based on over 230 reviews across platforms like Google, Trustpilot, Yelp, and the Better Business Bureau.

Nationwide*

*Locations current as of June 20, 2023

Congress Realty

Congress Realty

Best For

Sellers who want a lot of a-la-carte options

Price Range

$299
Pros & Cons

Pros:

  • Congress Realty has a phone system that forwards any phone calls about your listing directly to you.
  • You can request a free Comparative Marketing Analysis if you want a better idea of what homes in your area have sold for recently.

Cons:

  • Congress Realty costs a lot more than competitors with similar MLS packages.
  • You have to pay an extra $50 if you want more than four photos in your listing.

Creekview Realty

Creekview Realty

Best For

Sellers who might still sign with a full-service broker.

Price Range

$495
Pros & Cons

Pros:

  • Your listing comes with a yard sign and key lock box β€” features most companies charge extra for.
  • You can upgrade to a flat fee full service plan with the same company.

Cons:

  • The entry level package is more expensive than similar MLS listings from other companies.
  • The company doesn't provide much information about how many photos you can add to your listing or how often you can make changes to it.

FlatFeeByYou

FlatFeeByYou

Best For

Budget-conscious sellers who want the best bang for their buck

Price Range

$45-295
Pros & Cons

Pros:

  • The Basic Package ($45) doesn't include a lot of extras, but it's one of the most affordable options we've seen.
  • If you upgrade to the Best Package ($95), you'll get free consultations with the broker who may be able to help you improve your listing.

Cons:

  • The Basic Package doesn't include free status and description updates.
  • You have to pay extra if you need help making sure you get all your forms and disclosures right.

Β» FIND: 5 Best Texas Flat Fee MLS Companies in 2021

If you'd like some professional guidance with no strings attached, Clever can help. Fill out your info below to connect with a top, local realtor for a no-obligation consultation.

πŸ‘‹ Skip the DIY: Get a better agent AND bigger savings

Why do all the work of selling FSBO only to end up with less money than you would have with an agent? Clever offers you bigger savings without sacrificing the service you expect from a traditional realtor.

With Clever:

βœ… You'll only pay 1.5% to list your home

βœ… You'll work with a full-service realtor from a top broker

βœ… It's free, with zero obligation β€” you can walk away at any time

Saving on realtor fees doesn't have to mean sacrificing service. Find a top local agent today!

FAQs

How do I sell a house as is in Texas?

Selling your home "as is" means you won't make any repairs, and the prospective buyer will purchase the home in its current condition. Write in the listing description that the home will be sold "as is" and repairs are not negotiable. Disclose any significant problems, such as mold, asbestos, or water damage. The price of the home should be lowered to reflect the cost of making significant renovations.

What paperwork do I need for selling a house by owner in Texas?

The most common forms you need to sell a house by owner in Texas are:

  • Copy of purchase agreement
  • Signed deed
  • Bill of sale
  • Affidavit of title
  • Seller's disclosure notice
  • Lead-based paint disclosure
  • Flood zone statement

Do I need a real estate lawyer to sell my house in Texas?

Texas doesn't require a real estate lawyer to be present at closing, but if you're selling for sale by owner, you may want one to ensure you comply with local laws and protect you from being sued. Unlike realtors, real estate attorneys don't have knowledge of the local market and can’t help you negotiate the price of your home, but they can write a purchase agreement and other legal contracts.

How do I sell my house by owner in Texas?

As a FSBO seller, you need to know and understand all your responsibilities.

  1. Prepare your home for sale. Clean and make necessary repairs to receive higher offers.
  2. Set an accurate price. List your home for too little, and you leave money on the table. Price it too high, and the listing goes stale.
  3. List your home. Write a description that highlights the features that matter most to local buyers.
  4. Show your home. Make sure you keep it clean so you can allow buyers to see the property whenever they want to.
  5. Negotiate the best price. You and the buyer will need to agree on the sale price, contingencies, and the closing timeline.
  6. Close. Officially transfer the property title to the buyer.

Additional resources for Texas home sellers

Selling a House in Texas: Everything You Need to Know

Selling your house in Texas? Our in-depth guide breaks down the process into 8 easy-to-understand steps, from listing through closing.

Disclosure Requirements for Selling Texas Real Estate

Learn everything you need to know about the legal requirements regarding home disclosures for sellers in Texas.
cash home buyers houston texas downtown

Best Cash Home Buyers in Texas (2023)

We ranked 'we buy houses' for cash companies in Texas based on time to offer, time to close, and real customer reviews.

The post How to Sell a House By Owner in Texas (2023 Update) appeared first on Semya-Moya.

]]> How to Sell a House By Owner in Pennsylvania (2023 Update) https://semya-moya.ru/real-estate-blog/how-to-sell-a-house-by-owner-in-pennsylvania/ Wed, 12 Jul 2023 20:43:27 +0000 https://semya-moya.ru/how-to-sell-a-house-by-owner-in-pennsylvania/ Selling your house without a realtor can save you thousands of dollars in Pennsylvania. Find out more about the FSBO process, its pros and cons, and tips for success.

The post How to Sell a House By Owner in Pennsylvania (2023 Update) appeared first on Semya-Moya.

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Why trust us: To create this guide, we surveyed and interviewed Pennsylvania real estate agents, studied Pennsylvania real estate law, and researched more than 20 FSBO companies and alternatives. Learn more about why you can trust our advice.

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Choosing to sell your home without a realtor in Pennsylvania means you'll save yourself the average Pennsylvania listing commission of 2.81%. For an average-priced home in Pennsylvania, cutting out listing commission can lead to savings of $7,213.

Once you realize how much you can save, selling a home for sale by owner (FSBO) is very tempting. But remember, you'll need to do all of the work a real estate agent would normally do, including setting the price, listing the home, scheduling showings, and dealing with negotiations. You'll also be on your own during closing, which involves complicated paperwork.

If selling FSBO was easy, everyone would do it. But only 10% of home sales are for sale by owner. Even if you do save money on commission, you might not sell for as much without an agent. Sale by owner homes go for as much as 35% less than those made with an agent.

Selling without a realtor in Pennsylvania is right for some, but not everyone. This guide will help you determine if you should go FSBO and explain more about the FSBO selling process.

Who should sell a house by owner?

Selling a home without an agent isn't a decision to make lightly. Consider the pros and cons of FSBO before listing.

Selling without a realtor in Pennsylvania could be right for you if:

  • You have experience selling a home, with or without a real estate agent. If you've sold before, you have some idea of what to expect during the selling process.

  • You know a real estate expert that you can ask for advice. It can be a big advantage if you have a family member or friend who knows about real estate and they're okay with answering an occasional question.

  • You have time in your schedule to devote to selling your home. Acting as your own agent means being available all of the time to answer questions and schedule showings.

  • You've already found a buyer. If you don't need to find a buyer, much of the work is already complete. You'll still have to navigate closing on your own, though.

  • You want to be in charge of your home sale. If you want to have complete control over everything involved in selling your home β€” from the price to the final negotiations β€” FSBO sales allow that.

If more than two of these criteria don't sound like you, consider hiring an agent instead.

If saving money on realtor commission is what you’re after, it’s worth looking into real estate agents who’ll work at a lower-than-typical commission. Semya-Moya matches sellers in Pennsylvania with experienced, local agents who offer traditional service for just 1.5%. You can save money and the headache of doing it all on your own.

In addition to looking into FSBO, reach out to Clever to connect with multiple agents in your area. You can interview agents and get a free home valuation so you’ll know you’ve explored all of your options.

Connect with top, local agents in Pennsylvania!

How to sell a house by owner in Pennsylvania

Here are 6 steps to sell a house by owner in Pennsylvania:

  1. Prepare your home for sale

  2. Set a price

  3. List your home

  4. Show your home

  5. Negotiate the best price

  6. Close
Show more

As a FSBO seller, you need to know and understand all your responsibilities, which include preparing your home for sale, pricing your home accurately, finding buyers, negotiating, and filing the necessary paperwork required by state law.

Real estate laws vary across the country. For example, some states don't allow FSBO sellers to put a FSBO sign in their yard if they list on the multiple listing service (MLS) using a flat-fee MLS company.

Here's an overview of what laws you need to know in Pennsylvania:

Pennsylvania FSBO facts
Real estate attorney required? No
FSBO yard sign allowed? Yes
Required state disclosures?
  • Seller's property disclosure statement
  • Flood zone statement
  • Lead-based paint disclosure
Show more

Although selling your home without an agent may seem like a great way to save on realtor fees, it’s trickier than many people expect. If it becomes overwhelming, you can hire an agent at any time.

Working with a low-commission real estate company may be a better option for those who don’t have time to sell FSBO. You'll avoid the hassle of a FSBO sale and walk away with the most money possible. Clever saves sellers thousands, and they get offers 2.8x faster than the national average.

πŸ‘‹ Skip the DIY: Get a better agent AND bigger savings

Why do all the work of selling FSBO only to end up with less money than you would have with an agent? Clever offers you bigger savings without sacrificing the service you expect from a traditional realtor.

With Clever:

βœ… You'll only pay 1.5% to list your home

βœ… You'll work with a full-service realtor from a top broker

βœ… It's free, with zero obligation β€” you can walk away at any time

Saving on realtor fees doesn't have to mean sacrificing service. Find a top local agent today!

Step 1: Prepare your home for sale

Small upgrades and repairs can do a lot to sway potential buyers. The key is knowing how to spend your money to get higher offers. Simple DIY projects like a fresh coat of paint or new cabinet pulls have a high return on investment, whereas pricier improvements like adding a new bedroom may not.

Also, consider how valuable specific repairs are to buyers in your area. We asked top agents in Pennsylvania what repairs they think help a home sell. Here are some additional repairs you can make before selling:

  • DRYLOCK basement walls β€” With so much rain and snow, water infiltration is a major problem in Pennsylvania. Left unchecked, it could cause mold and mildew and lead to cracks in the foundation from repeated freezing and thawing. Use DRYLOCK, a product to prevent water seepage, on your walls and floor.
  • Unclog gutters β€” Overflowing gutters can cause water damage in your basement. You may be able to clear debris with your hands, a hose, and a garden trowel. Use power tools, such as a leaf blower or power washer, for stubborn clogs.
  • Upgrade your bathrooms β€” Some older homes in Western PA have a curious feature known as the "Pittsburgh potty," an open toilet in the basement, often with no sink or privacy walls. Consider converting it into a modern restroom or replacing it with a more practical feature, such as a utility sink.
  • Minimum federal property standards β€” U.S. Department of Agriculture (USDA) loans are quite common in rural areas of Pennsylvania. To attract the most buyers, make sure your property is up to federal standards. Some of the most common repairs may include installing handrails on stairs, replacing cracked windows, and fixing a leaky faucet.
  • New furnace or heat pump β€” Pennsylvanians don't want their heating system to stop working in January. Dispel any fears by replacing your furnace or heat pump, especially if it's 10–20 years old. If you can't afford to replace it, get a tuneup and have a service contract to show potential buyers.
  • Roof repairs or replacement β€” Buyers may not see a leaky roof when they're walking through your home, but inspectors and appraisers will definitely notice. Get a pre-sale inspection to make sure your roof is in good working order. A roof can be expensive to replace, and you may not get a full return on your investment. But, leaving it as is could kill a sale.

πŸ™‹πŸΎ Ask a realtor: "A lot of first-time buyer are looking to move right in," said Christina Hoffmeier, a real estate agent of 15 years in the Pittsburgh area. "Less and less buyers are handy. Today’s millennials don’t want to gut a house when they move in, especially when they pay top dollar. Plus, contractors are booked six months out, so it’s just not feasible."
Show more

Β» LEARN: Best Paint Colors to Sell a House

Stage and photograph your home

You'll need professional photos for your listing, and you'll want to showcase a clean and furnished home for potential buyers to see.

A well-staged home can help you sell faster and for more money. Start by decluttering, deep cleaning, and sprucing up your home's curb appeal. We asked top agents in Pennsylvania for their best additional staging tips.

  • To make your home look more spacious, consider moving extra furniture to storage, especially if it's outdated.
  • Declutter countertops and bookshelves. There should be a combination of books, decorative items, and empty spaces on your display areas.
  • Add pops of warm color in the form of flowers, rugs, decorative pillows, or throw blankets.
  • Open or remove room-darkening curtains to let in lots of light.

Bonus tip: Hire a professional stager who knows your local market and can ensure your home is ready to impress, giving you one less thing to worry about. In Pennsylvania, expect to pay between $1,012–2,762 in staging costs. This will get you 60–90 days of a fully designed living room, kitchen, dining room, master bedroom, and bathrooms. Prices vary from city to city, so be sure to give local companies a call for specific estimates.
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Step 2: Set a price

Pricing strategy can make or break a FSBO sale. List your home for too little, and you leave money on the table. Price it too high, and the listing goes stale, forcing a price drop that could make buyers wary of the home.

πŸ™‹πŸ»β€β™€οΈ Ask a realtor: "Price your home unemotionally," Hoffmeier said. "Your home is now your product. If Walmart and Target are selling the same product, buyers will go to the one that’s cheaper."
Show more

A pre-sale appraisal gives you a more accurate starting point for pricing your home. In Pennsylvania, appraisals average $320 to $385 but help you walk away with thousands more once your home is sold.

Bonus tip: Ask an agent to perform a comparative market analysis examining comparable properties that have sold recently in your neighborhood. Many realtors will do this for free in the hopes of gaining your business if you decide to forego FSBO.
Show more

Β» LEARN: What is a Comparative Market Analysis?

State of the Pennsylvania real estate market

Before you set the price for your home, you need to know what's going on with the local market. In Pennsylvania, home sales dropped by 33.1% from late 2021 to late 2022. This is happening across the U.S. as the housing market cools off after two years of fast-paced selling. But just because fewer people are selling their homes, it doesn't mean you'll have trouble selling yours.

Median home value* $254,802
Median listing price+ $272,500
Listing price per square foot+ $169
Percent of homes with price reduction+ 15.4%
*Based on data from Zillow (November 2023)
⁺Based on data from Realtor.com (November 2023)
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However, home values vary from city to city within the same state, and determining the right price for your home will depend on your location. Here are the median home values for some of Pennsylvania's biggest cities:

City Median home value
Philadelphia $344,731
Pittsburgh $203,260
Allentown $
Erie $
Reading $
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Having less competition could be a good thing. Homes are selling about as quickly as they were a year ago, with a median of 35 days on the market. You just may not earn as much as you did a year or two ago. Home prices in Pennsylvania are flattening, having increased only 1.8% in median price from a year ago.

With home prices leveling off, the savings you'd get selling without an agent can be tempting to think about. But it's also important to remember that you might not sell for nearly as much on your own, negating any savings you'd earn from FSBO.

Sell a Home with Clever and Save Thousands!

Enter your ZIP code to find a Clever partner agent in your area.

Step 3: List your Pennsylvania home

Once you've decided on a price, it's time to write a listing description that speaks to local buyers. Understanding their priorities will help you identify what features of your property to highlight in your listing. Here are some of the top buyer priorities in Pennsylvania, according to real estate professionals.

Pennsylvania buyer priorities Advice for FSBO sellers
Radon mitigation system Because of the state's geology, an estimated 40% of Pennsylvania homes have radon levels above Environmental Protection Agency guidelines. If you have a radon mitigation system, it will give buyers peace of mind about their health and safety. At the very least, perform an at-home radon test and let buyers know the results.
Recent renovations Most buyers want move-in ready homes. Be specific about large updates you’ve made in the last five years, such as rewiring electric or installing a new furnace. List when the renovation occurred, how much it cost, and its current condition.
A dry basement A leaky basement can cause mold, mildew, and foundation problems. If you've treated your basement for cracks or have a dehumidifier or sump pump, include that in your listing.
Energy efficiency As temperatures drop, energy use rises. If you have a heat pump, sprayed additional insulation, or installed energy-efficient windows, mention that in your listing. Consider including a recent utility bill.
Garage or carport No one wants to scrape 2 in. of ice off their car windshield before heading to work in the morning. Let buyers know if there's a covered area where they can park their vehicles to shield them from winter weather.
Heated driveway A heated driveway that prevents snow and ice accumulation allows owners to easily enter and exit their home without any shoveling.
Heated interior floors Stepping onto cold stone, tile, or concrete can feel like walking through a frozen tundra. Heated interior floors will make Pennsylvania's cold winters much more comfortable for buyers. If your home has other luxury features, include that in your listing to make it stand out.
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Where to list your home

The best place to market your home is on the MLS. MLS listings populate onto real estate websites like Zillow, Redfin, and Realtor.com, increasing your home's online presence. That's important because 51% of buyers found the homes they purchased via the internet.

However, agents are the only ones who can list on the MLS. You can work with an agent and still maintain control of your sale by using a flat-fee MLS company that charges a one-time payment to list your home on the MLS.

It usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months. Additional services, such as a virtual tour, downloadable contracts, and free changes to your listing, are often bundled into more expensive packages β€” but they're still typically cheaper than paying a listing agent's 3% commission fee. Find the best flat fee MLS companies in Pennsylvania.

FSBO sellers also have several free or low-cost options.

  • Zillow: Listing on Zillow is free and takes just a few simple steps: create a profile, claim your home, navigate to the FSBO page, fill out your listing info, click publish, and wait for verification. Zillow listings also automatically appear on its sister site, Trulia. However, recent changes to Zillow keep FSBO listings separate from agent listings, meaning your home will be a lot less visible to buyers.
  • ForSaleByOwner.com: This well-established and recognized for-sale-by-owner site caters specifically to people wanting to buy or sell FSBO homes. It's free to advertise, but your home won't show up on the MLS or syndicate to other real estate websites. That means your listing will only be viewable to buyers who go to ForSaleByOwner.com.
  • Social media: Post your home listing to Facebook, Twitter, Instagram, and Nextdoor. Sharing is free, and you can reach a lot of people where they’re already spending time.
  • For-sale-by-owner yard sign: You can buy a FSBO sign from most hardware stores or online for $20–50. Choose one that allows you to add your phone number so interested buyers can contact you for property information and showings.
  • Craigslist: Posting your home on Craigslist is free and simple. Just go to the Pennsylvania page, find your city, and create a "real estate β€” by owner" listing.

Β» MORE INFO: Learn How to Sell a House on Craigslist

Step 4: Show your home

Organization is key when showing your home to potential buyers. You'll need a good scheduling system and a spreadsheet to save buyers' and agents’ contact information. You'll want to be flexible and try to show your house at buyers’ convenience.

Keep the home clean and decluttered at all times. The last thing you want is to scramble with a vacuum after a buyer calls for a last-minute showing.

Focus on creating a homey atmosphere for buyers. You want to make a great first impression, so add little touches that speak to most people. Bake cookies or light scented candles before a showing. Smell plays a huge part in how buyers perceive and remember your house. Use comforting scents to your advantage so they feel at home the moment they walk through the door.

Step 5: Negotiate for the best possible price

Negotiations are about more than the final sale price. You and the buyer (or their agent) will also have to agree upon contract contingencies, how closing costs are divided, the timeline, and more.

To gain the upper hand, get creative with the seller concessions you offer a buyer. While they might cost you a little more at closing, concessions sweeten the deal for buyers and could lead to a higher final sale price.

Knowing what's important to buyers in your area will help you strengthen your offer. A Clever survey of local real estate professionals found that in Pennsylvania, sellers often cover 2.10% to 3.00% of buyers' closing costs. On a home of median value, that will cost an additional $5,351 to $7,644.

You should also consider offering these popular seller concessions:

Concession Benefits of offering concession
Home warranty If your home has major appliances or systems that are on their last leg, a home warranty can give buyers peace of mind. A warranty will cover possible problems and is typically less expensive than paying for the repairs (or accepting a lower offer from a wary buyer).
Property taxes You often have to share past tax information about the property before closing a sale. By covering some of those costs, you can offer buyers some financial relief and make them more inclined to close the sale.
Repair credits Repair credits are a win-win for buyers and sellers. You'll credit the buyer a set amount to cover the cost of repairs. Once the deal closes, buyers can oversee the project to their liking, and you don't have to worry about repairs going over budget.
Show more

Step 6: Close

Closing is the final step in a real estate transaction. The title of the property is officially transferred from the seller to the buyer, and both parties pay their closing costs.

Use a title company to facilitate a smooth closing. Title companies collect and distribute closing costs, collect signatures, ensure sellers have the right documents, and file them with relevant agencies.

πŸ€” Do I need a real estate attorney to sell my house in Pennsylvania?

If you use a title company, Pennsylvania doesn't require a real estate lawyer to be present at closing. But if you're selling for sale by owner, you may want one to ensure you comply with local laws and protect you from being sued.

Real estate attorneys usually work for an upfront flat fee or an hourly rate costing a few hundred dollars. Find lawyers near you by searching the state bar association, Avvo, or FindLaw.
Show more

Β» READ: How Much are Closing Costs for Sellers in Pennsylvania?

Paperwork to sell a house by owner in Pennsylvania

In a typical real estate transaction, your agent will make sure you fill out all the necessary documents and forms. FSBO sellers have to navigate the paperwork by themselves. Here’s a quick breakdown of Pennsylvania's requirements.

Want to save this list for later? Download our FSBO paperwork checklist to help you prepare for your sale.

Required for all Pennsylvania real estate sales

Two forms of ID In most cases, a valid passport, driver's license, or other form of Pennsylvania-issued ID.
Copy of purchase and sale agreement and addendums Copy of the original, signed purchase and sale agreement, as well as any agreed-upon changes.
Closing statement A detailed list of all the costs associated with the sale and who pays them. This is often prepared by your escrow agent or title company.
Signed deed To legally transfer your property, you'll need the deed that proves you're the rightful owner. At closing, you'll sign the deed over to the buyer.
Bill of sale This is basically a receipt that includes both your information and the buyer's. It will also list the final price of the home and what was included in the sale.
Affidavit of title A notarized document that states you own the home, that there are no liens on the property, and that you are not simultaneously selling the home to someone else.
Show more

Additional documents

Loan payoff information If you have a mortgage on your home, you'll need documentation of exactly how much you still owe and any payoff fees. If you've already paid your mortgage in full, you'll need documentation proving that.
HOA forms and guidelines If your home is part of an HOA, you'll need to give the buyer documentation on the covenants, codes, restrictions, financial history, required fees, and approval process.
Survey results or survey affidavits A survey or an affidavit verifying a previous survey proves exactly where the property lines are.
Home inspection results If you had a pre-sale inspection, you'll want the results to compare to the buyer's inspection. If having a buyer's inspection was part of the sales agreement, you should receive a copy of the results before closing.
Proof of repairs or renovations Documentation proving any major repairs or changes to the house help verify its value. These receipts also provide buyers with information about who to contact if they discover issues with the repairs in the future.
Home warranty information The home warranty service agreement will explain what is covered, for how long, and costs associated with the policy.
Copies of relevant wills, trusts or power of attorney letters If you are selling an inherited property, you'll need copies of all legal documents that passed ownership to you.
Relevant affidavits (name affidavits, non-foreign affidavit under IRC 1445) You may need additional affidavits like a name affidavit, which lists all of your or the buyer's previous names, or an affidavit proving you are not a foreign citizen and, therefore, exempt from certain property sales taxes.
Closing disclosure If your buyer is taking out a mortgage and you agreed to certain seller's concessions, you may need a copy of their closing disclosure to verify the lender approved your concessions.
Correction statement and agreement If forms are lost or errors are discovered in the future, a correction statement and agreement requires you, the buyer, or their lender to replace or fix those documents.
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Pennsylvania disclosure forms

Seller's property disclosure statement The seller disclosure statement details known issues with your home and its major appliances and systems.
Flood zone statement With some federally backed mortgages, your buyer's lender might require information about the property's flood risk.
Lead-based paint disclosure If your home was built before 1978, federal law requires that you disclose information about the dangers of lead-based paint.
Show more

Β» LEARN: Disclosure Requirements for Selling Pennsylvania Real Estate

Where to find documents

The Pennsylvania Association of Realtors, the state chapter of the National Association of Realtors, provides most of the forms used in a typical real estate transaction exclusively to its members and their clients. However, the site offers descriptions of each document that FSBO sellers can read if they need help choosing which forms to use and how to complete them.

Documents may be written in other legal formats if you choose to write them yourself or hire an attorney to help with the paperwork.

✍️ How to write a purchase agreement in Pennsylvania

You can write your own purchase agreement for free if you have access to word processing software, a printer, and legal paper. You must include all the necessary components and terms of sale. Here's what to include:

  • Buyer's and seller's names
  • The address of the property
  • Purchase price
  • Earnest money amount
  • Closing date
  • Inspection or financing contingencies
  • List of inclusions and exclusions, such as furniture and fixtures that stay on the property
Show more

Templates for purchase agreements and disclosures can also be found online. Just make sure you download the most up-to-date version for your transaction. Updates seem to happen every six months to a year. Check the Pennsylvania Association of Realtors' standard forms page for any changes.

Here's where to find forms online:

When you're looking for other documents, such as tax records, property surveys, and deeds, check state or local government offices, such as your tax assessor’s office or department of revenue.

Just remember, many closing documents are legally binding agreements. Errors can result in an unenforceable contract that could derail your sale and cost you thousands in fees. To avoid an expensive mistake, consider working with a low-commission realtor.

πŸ’° Incredible savings, none of the DIY

Selling your home is time-consuming, and fraught with potential legal issues.

There's a better option. Clever pre-negotiates lower listing fees with top agents in your area. You still save on commission, while getting the support of a full-service agent.

  • Clever partner agents offer full-service support for a fraction of the traditional cost: a 1.5% listing fee instead of the typical 2.5-3%
  • Choose from the best local agents representing top regional and national brokerages, like Keller Williams and Century 21

Ready to find real estate agents who can help you save thousands on your sale? Enter your zip code below to get started!

FSBO alternatives

If saving money is your main reason for selling FSBO, there are alternatives.

Semya-Moya

Clever is a nationwide real estate service that connects sellers with top, local agents. You pay Clever nothing. You'll only pay your full-service agent 1.5% if your home sells.

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Get Started

πŸ’² Listing Fee

1.5% ($3,000 min.)

πŸ’° Buyer Savings

Cash back after closing

⭐ Avg. Customer Rating

5/5 (2,735 reviews)
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Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Try Clever for free β€” save thousands on commission!

  • Clever is a free, nationwide agent matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
  • You get multiple agent matches so you can interview several, compare marketing plans, and choose the best fit.
  • Clever pre-negotiates low rates on your behalf β€” you get full service for just a 1.5% listing fee ($3,000 minimum).
  • If you buy with Clever, you can get cash back to help pay for your move.
  • You may not get matched with an agent from your preferred real estate brokerage.
  • Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Discount real estate services in Pennsylvania

Discount real estate companies can help you sell your house for less than a traditional realtor, although pricing and services vary. In most cases, you'll still need to offer a competitive buyer's agent commission, but you'll save on listing fees.

Redfin

Full Review

πŸ’² Listing Fee

1.5% (min. fees vary)

πŸ’° Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service β€” especially agent experience and availability.

Read the full Redfin review.

  • If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
  • Redfin gives its listings premium placement in its popular home search app.
  • If finding the right agent is a top priority, you'll have limited options β€” Redfin only has a few agents in each of its markets.
  • Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Houwzer

Full Review

πŸ’² Listing Fee

1% (min. $2,500)

πŸ’° Avg. Savings

$7,625

⭐ Avg. Customer Rating

4.9/5 (1,463 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Houwzer has very low listing fees, but you may be frustrated working with a team instead of just your realtor.

Read the full Houwzer review.

  • You’ll pay a 1% listing fee, which is one of the lowest rates in the industry.
  • Houwzer’s maximum listing fee of $10,000 makes it a great deal for homes over $1 million.
  • Houwzer has a small team, which limits your options if you don't hit it off with the first agent it sends you.
  • The company uses a team-based approach, which increases the chances of miscommunication and mistakes.

Houwzer has a 4.9 out of 5 rating (1,463 reviews) across popular review sites like Google and Zillow.

Read reviews from real Houwzer customers here.

Houwzer is available in the following locations: FL, MD, NJ, PA, VA, DC.

REX Real Estate

Full Review

πŸ’² Listing Fee

2.5% ($9,000 min.)

πŸ’° Avg. Savings

-$325

⭐ Avg. Customer Rating

4.7/5 (1,041 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

REX’s promise of huge savings is misleading. Its advertising misrepresents the significant risks of its pricing model and marketing approach. And its high minimum fees mean that many sellers won't save anything.

Read the full REX Real Estate review.

  • REX's approach is incredibly risky β€” but if the gamble pays off, you could save about 50% on realtor fees
  • Like other full-service brokerages, REX agents provide in-person services and support
  • REX's 2.5% listing fee doesn't save you much β€” many full-price agents charge similar rates
  • REX doesn't list your home on the MLS, so up to 90% of buyers may not even know it's for sale
  • This risky marketing strategy seems likely to fail, so you may not save anything on commission

REX has a 4.7 out of 5 rating (1,041 reviews) across popular review sites like Google and Zillow.

Read reviews from real REX customers here.

REX is available in the following areas: AZ, CA, CO, FL, GA, MD, NV, NJ, OR, PA, TX, WA, DC.

Β» COMPARE: Discount Real Estate Brokers: Who's the BEST in 2021?

Flat fee MLS companies in Pennsylvania

A flat fee MLS service will post your listing on the local MLS, usually for a low, upfront fee. In Pennsylvania, this will typically cost you a couple hundred dollars.

Simple Choice Realty

Simple Choice Realty

Best For

Sellers who want to manage their listing completely online

Price Range

$399-1,999
Pros & Cons

Pros:

  • The basic listing package includes 25 photos. Many competitors include fewer than 10 with their lowest listing tier.
  • For an extra fee the listing broker will review your contract and walk you through everything included in it.

Cons:

  • You'll pay extra to get your contact info added to your Zillow listing.
  • Simple Choice Realty doesn't cover all areas of the state. You can check with the broker to see if they take listings in your area.

XFlatFeeMLS

XFlatFeeMLS

Best For

Sellers who want an affordable barebones MLS listing without any extras

Price Range

$89-380
Pros & Cons

Pros:

  • You can choose to defer payment until after closing.
  • The company claims it will beat any competitor's price by 10%.
  • XFlatFeeMLS offers a full refund if you decide to list with one of its recommended full-service agents instead of selling FSBO.

Cons:

  • The deferred payment plan costs more than twice the unlimited listing.
  • The website is hard to navigate and offers no way to manage your listing and leads online.

Flat Fee Group

Flat Fee Group

Best For

Sellers who need a longer listing term

Price Range

$399-1,999
Pros & Cons

Pros:

  • The base package comes with a 12-month listing term. Many companies only offer six-month options for their basic listing.
  • You'll get a for sale sign with each listing package β€” just pay $10 for shipping.

Cons:

  • You won't get any pricing assistance unless you upgrade to the full-service option ($1,999).

Β» FIND: 5 Best Pennsylvania Flat Fee MLS Companies in 2021

If you'd like some professional guidance with no strings attached, Clever can help. Fill out your info below to connect with a top, local realtor for a no-obligation consultation.

πŸ‘‹ Need a great agent on your side?

Connect with top local agents who can help you get a great deal on a new home. Eligible buyers will also earn cash back after closing.

Additional resources for PA home sellers

8 Steps to Selling a House in Pennsylvania

Selling your house in Pennsylvania? Our in-depth guide breaks down the process into 8 easy-to-understand steps, from listing through closing.

Average Real Estate Commission in Pennsylvania

Pennsylvania real estate commission costs more than the national average. Learn how commission works and how you can save on realtor fees.

Average Cost to Sell a House in Pennsylvania

It costs $31,270 to sell a house in Pennsylvania on average. Use our cost of selling a house calculator to see how much you'll pay when you sell your home.

Pennsylvania Real Estate Transfer Taxes: An In-Depth Guide

Transfer taxes are split between the state and local authorities in Pennsylvania. Here’s how much you’ll pay in transfer tax when buying a house in the state.

FAQs: How to sell your house without a realtor in PA

Can I list FSBO on Zillow in Pennsylvania?

Listing on Zillow is free, and homes will automatically appear on its sister site, Trulia. However, recent changes to Zillow keep FSBO listings separate from agent listings, meaning your home will be a lot less visible to buyers.

What paperwork do I need to sell for sale by owner in Pennsylvania?

The most common forms you need to sell a house by owner in Pennsylvania are:

  • Copy of purchase agreement
  • Signed deed
  • Bill of sale
  • Affidavit of title
  • Seller's property disclosure statement
  • Lead-based paint disclosure
  • Flood zone statement

Do I need a lawyer to sell a house by owner in Pennsylvania?

Pennsylvania doesn't require a real estate lawyer to be present at closing. But if you're selling for sale by owner, you may want one to ensure you comply with local laws and protect you from being sued.

The post How to Sell a House By Owner in Pennsylvania (2023 Update) appeared first on Semya-Moya.

]]> How to Sell a House By Owner in Ohio (2023 Update) https://semya-moya.ru/real-estate-blog/how-to-sell-a-house-by-owner-in-ohio/ Wed, 12 Jul 2023 20:42:32 +0000 https://semya-moya.ru/how-to-sell-a-house-by-owner-in-ohio/ Selling your house without a realtor can save you thousands of dollars in Ohio. Find out more about the FSBO process, its pros and cons, and tips for success.

The post How to Sell a House By Owner in Ohio (2023 Update) appeared first on Semya-Moya.

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Why trust us: To create this guide, we surveyed and interviewed Ohio real estate agents, studied Ohio real estate law, and researched more than 20 FSBO companies and alternatives. Learn more about why you can trust our advice.
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Selling your home without a realtor in Ohio means not having to pay the average Ohio listing commission of 3.19%. Based on the average Ohio home price, this would mean a savings of around $6,961.

Seeing how much you can save makes selling your home by owner sound very tempting. Keep in mind, though, that you'll need to put in the work to earn the savings. Everything involved in selling the home β€” pricing, marketing, showings, and negotiating β€” will be your responsibility. Even after you accept an offer, you'll still need to make it through closing.

FSBO isn't easy, which is why only 10% of home sales are for sale by owner (FSBO). Another thing to consider is that you might end up selling for as much as 35% less than you would with a real estate agent, erasing your savings and then some.

Selling your home without a realtor in Ohio is not the right path for everyone. This guide will help you decide if it's right for you.

Who should sell a house by owner?

Selling on your own is not like other DIY projects. It's important to consider the benefits and the downsides of FSBO before listing your home for sale by owner.

Selling without a real estate agent in Ohio could be right for you if:

  • This isn't your first home sale. If you've sold a home before, with or without a realtor, you have an idea of what to expect. If you were once a licensed real estate agent, even better.
  • You know a real estate expert to ask for help. Friends and family willing to provide the occasional piece of advice (for free) would be very valuable to a FSBO seller.
  • You don't have a busy schedule. Acting as your own agent means being ready to answer calls and buyer questions at all times. If you're too busy to respond, it might lead to buyers losing interest.
  • You already have a buyer. If you have an offer on the table, most of your work is done. You'll still need to navigate all of the paperwork during closing, however.
  • You want total control over your home sale. If it's important to you to control all aspects of the selling process, such as how the home is marketed and what the listing price should be, FSBO gives you that option.

If more than two of the above criteria aren't true for you, consider using an agent over trying to make a sale by owner.

If saving money on realtor commission is what you’re after, it’s worth looking into real estate agents who’ll work at a lower-than-typical commission. Semya-Moya matches sellers in Ohio with experienced, local agents who offer traditional service for just 1.5%. You can save money and the headache of doing it all on your own.

In addition to looking into FSBO, reach out to Clever to connect with multiple agents in your area. You can interview agents and get a free home valuation so you’ll know you’ve explored all of your options.

Connect with top, local agents in Ohio!

How to sell a house by owner in Ohio

Here are 6 steps to sell a house by owner in Ohio:

  1. Prepare your home for sale
  2. Set a price
  3. List your home
  4. Show your home
  5. Negotiate the best price
  6. Close
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As a FSBO seller, you need to know and understand all your responsibilities, which include preparing your home for sale, pricing your own home accurately, finding buyers, negotiating, and filing the necessary paperwork required by state law.

Real estate laws vary across the country. For example, some states, like Ohio, don't allow sellers to put a FSBO sign in their yard if they list on the multiple listing service (MLS) using a flat fee MLS company.

Here's an overview of what laws you need to know in Ohio.

Ohio FSBO facts
Real estate attorney required? No
FSBO yard sign allowed? Not if your home is on the MLS
Required state disclosures?
  • Residential Property Disclosure Form
  • Flood Zone Statement
  • Lead-Based Paint Disclosure
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Although selling your home without an agent may seem like a great way to save on realtor fees, it’s trickier than many people expect. If it becomes overwhelming, you can hire an agent at any time.

Working with a low-commission real estate company may be a better option for those who don’t have time to sell FSBO. You'll avoid the hassle of a FSBO sale and walk away with the most money possible. Clever saves sellers thousands, and they get offers 2.8x faster than the national average.

πŸ‘‹ Skip the DIY: Get a better agent AND bigger savings

Why do all the work of selling FSBO only to end up with less money than you would have with an agent? Clever offers you bigger savings without sacrificing the service you expect from a traditional realtor.

With Clever:

βœ… You'll only pay 1.5% to list your home

βœ… You'll work with a full-service realtor from a top broker

βœ… It's free, with zero obligation β€” you can walk away at any time

Saving on realtor fees doesn't have to mean sacrificing service. Find a top local agent today!

Step 1: Prepare your home for sale

Small upgrades, repairs, and curb appeal can do a lot to sway potential buyers. The key is knowing how to spend your money to get higher offers. Simple DIY projects like a fresh coat of paint or new cabinet pulls have a high return on investment, whereas pricier improvements like adding a new bedroom may not.

The most important factor is knowing what's necessary and what's over the top. If your kitchen is outdated, spending money on a remodel to get it in solid condition will pay off in the end. But spending money on high-end features to take it from good to extravagant could be a waste.

Consider how valuable specific repairs are to buyers in your area. We asked top agents in Ohio what additional repairs they think help a home sell for more.

  • Updated kitchen β€” Most buyers want a move-in ready home, including a modern kitchen with quartz or granite countertops.
  • Foundation repairs β€” Between rain and snow, Ohio gets a lot of moisture. If you have cracks in your foundation, water could leak into the basement and flood your home. If you notice cracks in your walls, uneven floors, or jammed doors and windows, it could indicate foundation problems. Most foundation repair companies offer free estimates, but problems can be expensive to fix.
  • New flooring β€” If you want to get the most bang for your buck, install new wood flooring. Realtors ranked it as one of the top four interior renovation projects buyers most want to see, and they estimated homeowners could recoup more than 100% of the expense.
  • Basement conversion β€” If your basement is unfinished, consider renovating it into extra living space to ride out Ohio's cold and snowy winters. However, since a full basement conversion can be upwards of $45,000, if you have a limited budget and your main floor has seen better days, you may want to focus on remodeling that instead to get the most value back.

Β» LEARN: How Much Value Does Finishing a Basement Add to a Home?

πŸ€” How does selling "as is" in Ohio affect the price?Selling a home "as is" means you won't make any repairs, and the prospective buyer will purchase the home in its current condition. The price of the home should be lowered to reflect the buyer's cost of making significant renovations. You'll likely turn a higher profit if you fix up your home, but if you need to move quickly or don't have money for repairs, selling "as is" may be right for you.

Β» READ: Should I Sell My House As Is or Fix It Up?
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Photograph and stage your home

You'll need professional photos for your listing, and you'll want to showcase a clean and furnished home with great curb appeal for potential buyers.

If you've already moved to a new home, your old home may be vacant. Instead of leaving it empty, you could hire a company to stage it and a professional photographer to take pictures.

πŸ™‹πŸ»β€β™€οΈ Ask a realtor: "Video tours have been huge in this area because we’ve had a ton of people relocating to Ohio," said Tom Garuccio, a real estate agent in the Cleveland metro area. "We get sight unseen offers all the time, and I’ve sold a bunch of houses just on a video tour."
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A well-staged home can help you sell faster and for more money. However, this could cost you several hundred dollars a month per room to fill it with the right furnishings.

In Ohio, a potential buyer will want to see:

  • Flex spaces, such as a basement, staged as a home office, gym, or fan cave for watching all of Ohio's sports teams
  • Front-porch furniture that creates a welcoming atmosphere
  • Lots of space, so consider moving extra furniture to storage
  • Lots of light, so open or remove curtains that might darken a room

Bonus tip: Hire a professional stager who knows your local market and can ensure your home is ready to impress, giving you one less thing to worry about. In Ohio, expect to pay between $1,760–$1,880 in upfront staging costs. This will get you 60–90 days of a fully designed living room, kitchen, dining room, master bedroom, and bathrooms. Prices vary from city to city, so be sure to give local companies a call for specific estimates.
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Step 2: Set a price

How much you can sell your home for will depend on a number of factors, including your home's physical characteristics and local market conditions, as well as personal conditions: do you want top dollar or do you want to sell fast?

State of the Ohio real estate market

To choose a price that will generate interest, research local market trends. As of late 2022, Ohio home prices were up by 13.3% compared to last year. While it's likely that prices will cool off as Ohio catches up with the rest of the U.S. market, the continued growth is great news for anyone currently selling.

But even as home values remain strong, fewer people are selling homes. The number of homes sold dropped by 30.4% from late 2021 to late 2022.

Median home value* $216,115
Median listing price+ $227,500
Listing price per square foot+ $131
Percent of homes with price reduction+ 15.6%
*Based on data from Zillow (November 2023)
⁺Based on data from Realtor.com (November 2023)
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However, home values vary from city to city within the same state, and determining the right price for your home will depend on your location. Here are the median home values for some of Ohio's biggest cities:

City Median home value
Columbus $299,588
Cleveland $214,136
Cincinnati $269,669
Toledo $
Akron $
Dayton
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While you might not have a bidding war develop over your home (like you might have a year ago), you'll also have less competition from other homes. If you're patient and set your price appropriately, you should be able to attract an offer within the average 41 days on market.

As the market cools and home prices in Ohio begin to dip, it makes sense to view FSBO as a way to make the most of your home sale. Remember, though, that having a realtor on your side can lead to a higher sale price, especially as the market becomes challenging to sellers.

Sell a Home with Clever and Save Thousands!

Enter your ZIP code to find a Clever partner agent in your area.

How do I price my home?

Pricing strategy can make or break a FSBO sale. List your home for too little, and you leave money on the table. Price it too high, and the listing can go stale β€” even in a seller's market. If it lingers on the market too long, you may be forced to lower the price, which could make buyers wary of the home.

πŸ™‹πŸΎ Ask a realtor: "You get a lot of people saying, 'It’s a crazy market. Price it high,'" Garuccio said. "But if you do that, you end up getting less β€” always. What I tell sellers is to come out with an attractive listing that grabs attention and to price it competitively. That doesn’t mean underprice. Price it where it’s going to drive demand. Emotion starts to take over, and people start bidding higher and higher."
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To get an accurate idea of fair market value for your home, look at comparable listings online in your area. For example, if you think your house is worth about $300,000, search Zillow, Redfin, or other listing sites for properties that are about $50,000 more or less than that target. Analyze details about the homes and how they compare to yours.

Remember, it's best to evaluate homes that are in the same area. If you're selling your Columbus home, don't base the price off a similar home in Dayton.

πŸ€” How do I find out how much a house sold for?
The best way to find out how much a house sold for is to ask a local real estate agent who can look up the house on the MLS. You can also try your county recorder’s office or website.
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A pre-sale appraisal can also give you a more accurate starting point for pricing your home. In Ohio, appraisals average $290 to $340 but help you walk away with thousands more once your home is sold.

Bonus tip: Ask an agent to perform a comparative market analysis (CMA) examining comparable properties that have sold recently in your neighborhood. Many realtors will do this for free in the hopes of gaining your business if you decide to forego FSBO.
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Β» LEARN: What is a Comparative Market Analysis?

Step 3: List your Ohio home

Once you've decided on a price, it's time to write a listing description that speaks to local buyers. Understanding their priorities will help you identify what features of your property to highlight in your listing. Here are some of the top buyer priorities in Ohio, according to real estate professionals.

Ohio buyer priorities Advice for FSBO sellers
Listing price Ohio's housing market is the most competitive it's ever been, but it's still very affordable compared to other states. Do your research and look at recent sales data in your area for an accurate price point for homes of comparable size and condition.
Finished basement Basements provide additional space for entertaining or serve as a bonus room for a fan cave or gym. The extra square footage will be beneficial during Ohio's cold winters.
Recent renovations Nearly 40% of Ohio buyers are looking to avoid renovations in their new homes, according to the National Association of Realtors' 2020 Profile of Home Buyers and Sellers. If you've made updates, such as rewiring electric or installing a new roof, mention that in your listing. List when the renovation happened, how much it cost, and its current condition.
School district Include appealing information about school districts in your listing description. Mention the GreatSchools rating, graduation rates, parental reviews, or state accolades.
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Where to list your home

The best place to market your home is on the MLS. MLS listings populate onto real estate websites like Zillow, increasing your home's online presence. That's important because 51% of buyers found the homes they purchased via the internet.

However, agents are the only ones who can list on the MLS. You can work with an agent and still maintain control of your sale by using a flat fee MLS company that charges a one-time payment to list your home on the MLS.

A flat fee MLS company usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months. Additional services, such as a virtual tour, downloadable contracts, and free changes to your listing, are often bundled into more expensive packages β€” but they're still typically cheaper than paying a listing agent's 3% commission fee. Find the best flat fee MLS companies in Ohio.

When you sell FSBO, you also have several free or low-cost options.

  • For sale by owner websites: There are several well-established and recognized for sale by owner sites that cater specifically to people wanting to buy or sell FSBO homes.
  • Social media: Post your home listing to Facebook, Twitter, Instagram, and Nextdoor. Sharing is free, and you can reach a lot of people where they’re already spending time.
  • For sale by owner yard sign: You can buy a FSBO sign from most hardware stores or online for $20–50. Choose one that allows you to add your phone number so interested buyers can contact you for property information and showings. However, if you list your home on the MLS via a flat-fee company, you cannot legally put a FSBO sign in your yard.
  • Craigslist: Posting your home on Craigslist is free and simple. Just go to the Ohio page, find your city, and create a "real estate β€” by owner" listing.

Β» MORE INFO: Learn How to Sell a House on Craigslist

Step 4: Show your home

Organization is key when showing your home to potential buyers. You'll need a good scheduling system and a spreadsheet to save buyers' and agents’ contact information. You'll want to be flexible and try to show your house at buyers’ convenience. For a realtor selling a property, it's their entire job; when you sell FSBO, it can become a full-time job.

Keep the home clean and decluttered at all times. The last thing you want is to scramble with a vacuum after a buyer calls for a last-minute showing. Look at other open houses by Ohio agents selling properties similar to yours; compare them to yours in terms of cleanliness and atmosphere.

πŸ™‹πŸ½ Ask a realtor: "Hire a professional cleaner, even if you think your house is clean," Garuccio said. "It can never be too clean."
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Focus on creating a homey atmosphere for buyers. You want to make a great first impression, so add little touches that speak to most people. Bake cookies or light scented candles before a showing. Smell plays a huge part in how buyers perceive and remember your house. Use comforting scents to your advantage so they feel at home the moment they walk through the door.

Step 5: Negotiate for the best possible price

Negotiations are about more than the final sale price. You and the buyer (or their agent) will also have to agree upon contract contingencies, how closing costs are divided, the timeline, and more.

And don't forget about factors such as whether you're dealing with pre approved buyers (if they aren't pre-approved, the deal could fall through) or cash buyers without a mortgage lender (always preferable). Sometimes it's not about the best price, but the best buyer; an experienced agent checks for these factors.

To gain the upper hand, get creative with the seller concessions you offer a buyer. While they might cost you a little more at closing, concessions sweeten the deal for buyers and could lead to a higher final sale price.

Knowing what's important to buyers in your area will help you strengthen your offer. A Clever survey of local real estate professionals found that in Ohio, sellers often cover 2.70% to 3.70% of buyers' closing costs. On a home of median value, that will cost an additional $5,835 to $7,996.

Most common seller concessions in Ohio:

Concession Benefits of offering concession
Home warranty If your home has major appliances or systems that are on their last leg, a home warranty can give buyers peace of mind. A warranty will cover possible problems and is typically less expensive than paying for the repairs (or accepting a lower offer from a wary buyer).
Property taxes You often have to share past tax information about the property before closing a sale. By covering some of those costs, you can offer buyers some financial relief and make them more inclined to close the sale.
Repair credits Repair credits are a win-win for buyers and sellers. You'll credit the buyer a set amount to cover the cost of repairs. Once the deal closes, buyers can oversee the project to their liking, and you don't have to worry about repairs going over budget.
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Step 6: Close

Closing is the final step in a real estate transaction. The title of the property is officially transferred from the seller to the buyer, and both parties pay their closing costs.

Use a title company to facilitate a smooth closing. Title companies collect and distribute closing costs, collect signatures, ensure sellers have the right documents, and file them with relevant agencies.

In central Ohio, the seller usually picks the title company, while in southwest and eastern Ohio, the buyer chooses.

Β» READ: How Much are Closing Costs for Sellers in Ohio?

What are the costs to sell a house by owner in Ohio?

Although selling FSBO eliminates the listing agent’s fee, you’ll need to budget for other expenses an agent would usually absorb. These add up to about $8,818 on a typical Ohio home sale.

Appraisal $315 An appraiser's professional opinion can help you price your home accurately.
Professional photography $557 for 2-hour shoot Research found 87% of home buyers who used the internet for their home search found photos "very useful."
Flat fee MLS listing $300 for most base packages Attract the most buyers by posting your home on your local MLS.
Marketing $95 Includes 100 flyers and a digital Facebook ad charged per 10,000 impressions.
Staging $1,800 A professional stager will optimize your interior with stylish furnishings and decor.
Real estate attorney $251 per hour Ohio doesn't require a real estate lawyer, but an attorney can ensure you comply with local laws and protect you from being sued.
Buyer's agent commission $5,700 (2.62%) (based on state average home price) Even if you sell your home FSBO, you'll likely still need to pay a buyer's agent commission.
Total estimated costs: $9018
Estimated costs informed by HomeAdvisor’s True Cost Guides and supplemental pricing research. This table is not 100% comprehensive, and actual costs will vary from situation to situation.
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Β» LEARN: How Much Does it Cost to Sell a House in Ohio?

How much will I make selling my house in Ohio?

How much money you keep in your pocket after selling your house will depend on several factors, including:

  • Which repairs and improvements you do to prep your home for sale
  • Whether you make any concessions or offer incentives to buyers
  • State and local taxes
  • Closing costs
  • Your remaining mortgage balance

Wondering how much you'll make on your home sale? Use our calculator below.

Of course, this number could be higher or lower depending on expenses unique to your home.

If you want to save money on your home sale, Clever can help. Clever connects you with local full-service agents who work for a reduced rate. You'll get the same service you would from a traditional agent for thousands less. Call Clever and get connected with an agent today.

Paperwork to sell a house by owner in Ohio

In a typical real estate transaction, your agent will make sure you fill out all the necessary documents and forms. As a FSBO seller, you'll need to have documents ready for each stage of the selling process. Here’s a quick breakdown of the for sale by owner closing paperwork you'll need in Ohio.

Keeping track of all the paperwork for selling a house without a realtor can be time consuming. Want to save this list for later? Download our FSBO paperwork checklist to help you prepare for your sale.

Required for all Ohio real estate sales

Two forms of ID In most cases, a valid passport, driver's license, or other form of Ohio-issued ID.
Copy of purchase and sales agreement and addendums Copy of the original, signed purchase and sales agreement, as well as any agreed upon changes.
Closing statement A detailed list of all the costs associated with the sale and who pays them. This is often prepared by your escrow agent or title company.
Signed deed To legally transfer your property, you'll need the deed that proves you're the rightful owner. At closing, you'll sign the deed over to the buyer.
Bill of sale This is basically a receipt that includes both your information and the buyer's. It will also list the final price of the home and what was included in the sale.
Affidavit of title A notarized document that states you own the home, that there are no liens on the property, and that you are not simultaneously selling the home to someone else.
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Additional documents

Loan payoff information If you have a mortgage on your home, you'll need documentation of exactly how much you still owe and any payoff fees. If you've already paid your mortgage in full, you'll need documentation proving that.
HOA forms and guidelines If your home is part of an HOA, you'll need to give the buyer documentation on the covenants, codes, restrictions, financial history, required fees, and approval process.
Survey results or survey affidavits A survey or an affidavit verifying a previous survey proves exactly where the property lines are.
Home inspection results If you had a pre-sale inspection, you'll want the results to compare to the buyer's inspection. If having a buyer's inspection was part of the sales agreement, you should receive a copy of the results before closing.
Proof of repairs or renovations Documentation proving any major repairs or changes to the house help verify its value. These receipts also provide buyers with information about who to contact if they discover issues with the repairs in the future.
Home warranty information The home warranty service agreement will explain what is covered, for how long, and costs associated with the policy.
Copies of relevant wills, trusts or power of attorney letters If you are selling an inherited property, you'll need copies of all legal documents that passed ownership to you.
Relevant affidavits (name affidavits, non-foreign affidavit under IRC 1445) You may need additional affidavits like a name affidavit, which lists all of your or the buyer's previous names, or an affidavit proving you are not a foreign citizen and, therefore, exempt from certain property sales taxes.
Closing disclosure If your buyer is taking out a mortgage and you agreed to certain seller's concessions, you may need a copy of their closing disclosure to verify the lender approved your concessions.
Correction statement and agreement If forms are lost or errors are discovered in the future, a correction statement and agreement requires you, the buyer, or their lender to replace or fix those documents.
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Ohio disclosure forms

Residential property disclosure form The seller disclosure statement details known issues with your home and its major appliances and systems.
Flood zone statement With some federally backed mortgages, your buyer's lender might require information about the property's flood risk.
Lead-based paint disclosure If your home was built before 1978, federal law requires that you disclose information about the dangers of lead-based paint.
Show more

Β» LEARN: Disclosure Requirements for Selling Ohio Real Estate

Where to find documents

Ohio Realtors, the state chapter of the National Association of Realtors, provides most of the documents used in a typical real estate transaction exclusively to its members and their clients β€” although consumers can download some disclosure forms from the Ohio Division of Real Estate & Professional Licensing.

However, you may be able to find downloadable forms online through:

  • LawDepot β€” Offers free forms
  • eForms β€” Offers free forms
  • US Legal β€” Charges a small monthly subscription

Other property information, such as tax records, property surveys, and deeds, can be found through local government offices. Check the county department of revenue, tax assessor's office, or recorder's office for more information.

Remember, many closing documents are legally binding agreements. Errors can result in an unenforceable contract that could derail your sale and cost you thousands in fees. To avoid an expensive mistake, consider working with a low-commission realtor.

πŸ’° Incredible savings, none of the DIY

Selling your home is time-consuming, and fraught with potential legal issues.

There's a better option. Clever pre-negotiates lower listing fees with top agents in your area. You still save on commission, while getting the support of a full-service agent.

  • Clever partner agents offer full-service support for half the typical cost: a pre-negotiated 1.5% listing fee
  • Clever sellers save an average of $7,000 on commission AND they get offers 2.8x faster than the national average

Ready to find real estate agents who can help you save thousands on your sale? Enter your zip code below to get started!

FSBO alternatives

If saving money is your main reason for selling FSBO, there are alternatives.

Semya-Moya

Clever is a nationwide real estate service that connects Ohio home sellers with top, local agents. You pay Clever nothing. You'll only pay your full-service agent 1.5% of your home sale price, saving up to 50% on listing fees.

Semya-Moya

Get Started

πŸ’² Listing Fee

1.5% ($3,000 min.)

πŸ’° Buyer Savings

Cash back after closing

⭐ Avg. Customer Rating

5/5 (2,735 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Try Clever for free β€” save thousands on commission!

  • Clever is a free, nationwide agent matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
  • You get multiple agent matches so you can interview several, compare marketing plans, and choose the best fit.
  • Clever pre-negotiates low rates on your behalf β€” you get full service for just a 1.5% listing fee ($3,000 minimum).
  • If you buy with Clever, you can get cash back to help pay for your move.
  • You may not get matched with an agent from your preferred real estate brokerage.
  • Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Discount real estate services in Ohio

Discount real estate companies can help you sell your house for less than a traditional realtor, although pricing and services vary. In most cases, you'll still need to offer a competitive buyer's agent commission, but you'll save on listing fees.

Redfin

Full Review

πŸ’² Listing Fee

1.5% (min. fees vary)

πŸ’° Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service β€” especially agent experience and availability.

Read the full Redfin review.

  • If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
  • Redfin gives its listings premium placement in its popular home search app.
  • If finding the right agent is a top priority, you'll have limited options β€” Redfin only has a few agents in each of its markets.
  • Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Β» COMPARE: Discount Real Estate Brokers: Who's the BEST in 2021?

Flat fee MLS companies in Ohio

A flat fee MLS company will post your listing on the local MLS, usually for a low, upfront fee. In Ohio, this will typically cost you a couple hundred dollars.

Ohio Property Group

Ohio Property Group

Best For

Sellers interested in a hands-on listing experience they can adjust as necessary.

Price Range

$297-997
Pros & Cons

Pros:

  • Your listing will be launched within 48 hours and can be cancelled at any time with no penalty.
  • Premium packages have access to a showing and feedback app that solicits viewer responses, helping you improve if your home isn't selling straight away.
  • All packages allow for 25 or more photos.

Cons:

  • The basic package does not include offer/counter-offer forms or response templates, so additional services will be necessary.

Team Results Realty

Team Results Realty

Best For

Sellers who need a lot of photos to showcase their home's visual appeal.

Price Range

$299-999
Pros & Cons

Pros:

  • Every package provides the MLS maximum photo limit, allowing you to upload as many photos as you'd like.
  • Buyer leads are automatically fowarded to the seller's email address.
  • Pricing is competitive - if you find a better listing offer somewhere else, they'll reduce their fee to compensate for the difference.

Cons:

  • The listing doesn't allow for free seller-hosted open houses without an additional fee.
  • Direct calls from buyer leads aren't passed on automatically, so you might not hear from potential buyers quickly.

Flat Fee Realty

Flat Fee Realty

Best For

Budget-conscious sellers who need a simple, affordable listing.

Price Range

$299-999
Pros & Cons

Pros:

  • Your listing comes with all the state seller's disclosures that you'll need.
  • You can pay a little more to post up to 25 photos on the MLS instead of the standard six.

Cons:

  • Flat Fee Realty doesn't offer any pricing or contract assistance.
  • The company won't be your listing broker. Instead, they'll refer you to a Montana-based broker who will list your property. If you have problems or questions, you'll end up talking to two companies instead of just one.

Β» FIND: 4 Best Ohio Flat Fee MLS Companies in 2021

If you'd like some professional guidance with no strings attached, Clever can help. Fill out your info below to connect with a top, local realtor for a no-obligation consultation.

πŸ‘‹ Need a great agent on your side?

Connect with top local agents who can help you get a great deal on a new home. Eligible buyers also earn cash back after closing.

FAQs: How to sell your house without a realtor in Ohio

How do I sell a house for sale by owner in Ohio?

As a FSBO seller, you'll need to:

  1. Prepare your home for sale by cleaning and making repairs
  2. Set an accurate price that's not too high or low.
  3. List your home with a description highlighting the features that matter most to local buyers.
  4. Show your home and keep it clean so it's ready at a moment's notice.
  5. Negotiate the best price, contingencies, and the closing timeline.
  6. Officially transfer the property title to the buyer.

How much can I sell my house for in Ohio?

How much you can sell your house for depends on a number of factors, including your home's physical characteristics and local market conditions. The median home price in Ohio is $182,200, but home values vary from city to city within the same state.

How much will I make selling my house for sale by owner in Ohio?

How much money you keep in your pocket after selling your house will depend on several factors, including:

  • Pre-sale repairs
  • Whether you make any concessions or offer buyer incentives
  • State and local taxes
  • Closing costs
  • Your remaining mortgage balance

Do realtors avoid for sale by owner properties in Ohio?

If you don't offer a buyer's agent commission, realtors may prioritize taking clients to homes with a commission. Providing a competitive commission rate of 2.62% will incentivize realtors to show your FSBO home to buyers. Learn more about how commissions work in Ohio.

What paperwork do I need to sell my house by owner in Ohio?

The most common forms you need to sell a house by owner in Ohio are:

  • Copy of the purchase and sale agreement
  • Signed deed
  • Bill of sale
  • Affidavit of title
  • Residential property disclosure form
  • Lead-based paint disclosure
  • Flood zone statement

What are the benefits of selling a house by owner in Ohio?

Selling real estate without a real estate agent reduces the overall commission you need to payβ€”and puts you in complete control over the selling process. Still, when you sell FSBO you also take on a lot of additional responsibility, such as negotiating a purchase price, running open houses, writing a purchase contract, and finding all the documentation.

What are the risks associated with selling a house by owner in Ohio?

Frequently, homeowners choose to list their houses without a listing agent to save money. But it's possible to lose money by underpricing your property or making the wrong decisions throughout the negotiation process. Legally, it's possible that mistakes could be made in the transfer that could cause issues later for everyone involved. Some risks can be mitigated by hiring a real estate attorney.

Additional resources for Ohio home sellers

8 Steps to Selling a House in Ohio

Selling your house in Ohio? Our in-depth guide breaks down the process into 8 easy-to-understand steps, from listing through closing.

Ohio Real Estate Transfer Taxes: An In-Depth Guide

Click here to learn about Ohio’s real estate transfer tax and how it might affect you when buying or selling your home.

Average Real Estate Commission in Ohio

Ohio real estate commission is higher than the national average. Learn how commission works and how you can save on realtor fees.

The post How to Sell a House By Owner in Ohio (2023 Update) appeared first on Semya-Moya.

]]> How to Sell a House By Owner in California (2023 Update) https://semya-moya.ru/real-estate-blog/how-to-sell-a-house-by-owner-in-california/ Wed, 12 Jul 2023 20:37:39 +0000 https://semya-moya.ru/how-to-sell-a-house-by-owner-in-california/ Selling your house without a realtor can save you 2.09% to 5.73% in California. Find out more about the FSBO process, its pros and cons, and tips for success.

The post How to Sell a House By Owner in California (2023 Update) appeared first on Semya-Moya.

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Why trust us: To create this guide, we surveyed and interviewed California real estate agents, studied California real estate law, and researched more than 20 FSBO companies and alternatives. Learn more about why you can trust our advice.

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Selling your house without a realtor in California (also known as for sale by owner or FSBO) is typically a way to save money. As a seller, hiring a listing agent in California will cost you an average of 2.5% of your home’s sale price. On the average California home price of $746,100, that’s over $19,000 you could pocket by selling without a realtor.

But listing your home for sale by owner isn’t always easy – and it comes with risks. There’s a reason only 10% of home sales are made without a realtor. Selling FSBO is a lot of work, from setting the right price and handling showings to negotiating with buyers and getting paperwork in order. And, for all of that work, FSBO homes sell for an average of 35% less – often outweighing the money you save by doing it all on your own.

That’s why it’s generally only recommended for experienced and savvy sellers who know how to make it work in their favor.

This guide will help you decide if selling without a realtor is right for you, and how to do it if it seems like the right fit.

Who should sell a house by owner?

Selling without a realtor isn’t recommended for everyone, and it comes with its own set of pros and cons. FSBO sellers must do the work of a trained real estate professional, so it requires ample time and a high level of expertise.

Selling by owner in California might make sense for you if:

  • You’ve sold more than one property with or without a realtor. You understand the selling process in-depth. (Even better if you were a licensed real estate agent at one point.)

  • You have a real estate expert in your corner. Even if you’re not an expert in selling, you might be able to gather enough help and guidance from your realtor friend to make it work.

  • You have some free time on your hands. If you work multiple jobs or have a big family to take care of, you might struggle to find the time it takes to market and close on your home.

  • You know the person you intend to sell to. If you already have a friend or family member lined up to buy your house, you can forgo any marketing required to sell it.

  • You want more control over your home sale. You’d prefer to be hands-on when it comes to how you market your home, how you price your home, and how you negotiate – rather than entrusting a real estate agent to do it.

If you don’t meet at least a few of these criteria, selling without a realtor in California may not be right for you.

If saving money on realtor commission is what you’re after, it’s worth looking into real estate agents who’ll work at a lower-than-typical commission. Semya-Moya matches sellers in California with experienced, local agents who offer traditional service for just 1.5%. You can save money and the headache of doing it all on your own.

In addition to looking into FSBO, reach out to Clever to connect with multiple agents in your area. You can interview agents and get a free home valuation so you’ll know you’ve explored all of your options.

Connect with top, local agents in California!

How to sell a house by owner in California

Here are 6 steps to sell a house by owner in California:

  1. Prepare your home for sale

  2. Set a price

  3. List your home

  4. Show your home

  5. Negotiate the best price

  6. Close
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As a FSBO seller, you need to know and understand all your responsibilities, which include preparing your home for sale, pricing your home accurately, finding buyers, negotiating, and filing the necessary paperwork required by state law.

Real estate laws vary across the country. For example, some states don't allow sellers to put a FSBO sign in their yard if they list on the multiple listing service (MLS) using a flat fee company. And note that there may be some small differences depending on exactly where you are, such as San Francisco vs. Los Angeles.

Here's an overview of what laws you need to know in California.

California FSBO facts
Real estate attorney required? No
FSBO yard sign allowed? Yes
Required state disclosures?
  • California Transfer Disclosure Statement
  • Megan's Law Disclosure
  • Natural Hazard Disclosure Report/Statement
  • Statewide Buyer & Seller Advisory
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Although selling your home without a listing agent may seem like a great way to save on realtor fees, it’s trickier than many people expect. If it becomes overwhelming, you can hire a listing agent at any time.

Working with a low-commission real estate company may be a better option for those who don’t have time to sell FSBO. You'll avoid the hassle of a FSBO sale and walk away with the most money possible. Clever saves sellers thousands, and they get offers 2.8x faster than the national average.

πŸ‘‹ Skip the DIY: Get a better agent AND bigger savings

Why do all the work of selling FSBO only to end up with less money than you would have with an agent? Clever offers you bigger savings without sacrificing the service you expect from a traditional realtor.

With Clever:

βœ… You'll only pay 1.5% to list your home

βœ… You'll work with a full-service realtor from a top broker

βœ… It's free, with zero obligation β€” you can walk away at any time

Saving on realtor fees doesn't have to mean sacrificing service. Find a top local agent today!

Step 1: Prepare your home for sale

Commit to some small upgrades and repairs for your California house. The key is knowing how to spend your money to get higher offers. Simple DIY projects like a fresh coat of paint or new cabinet pulls have a high return on investment, whereas pricier improvements like adding a new bedroom may not.

Home repairs with the highest resale value in California:

Top upgrades Average repair cost Average resale value Cost recouped
Garage Door Replacement 4190 3986 0.951
A new garage door adds functionality and beauty to your home while enhancing curb appeal.
Manufactured Stone Veneer 11867 11000 0.927
Artificial stone looks like expensive material but is cheaper, durable, and made to last. It's also lighter, placing less stress on your foundation.
Minor Kitchen Remodel | Midrange 31413 24464 0.779
Most buyers want a move-in ready home, including a modern kitchen with quartz or granite countertops.
A resale value of more than 100% indicates a profitable repair. Based on regional data from Remodeling
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Β» LEARN: Best Paint Colors to Sell a House

Photograph and stage your home

You'll need professional photos for your listing, and you'll want to showcase a clean and furnished home for potential buyers to see. Often, a listing agent will organize staging and photography before listing your house on the multiple listing service.

In California, local buyers will want to see:

  • A backyard staged with patio furniture for outdoor entertaining
  • Flex spaces staged as a home office, gym, or playroom
  • Lots of space, so consider moving extra furniture to storage
  • Lots of light, so open or remove curtains that might darken a room
  • Plants that give your home a beautiful and relaxing atmosphere

Bonus tip: Hire a professional stager who knows your local market and can ensure your home is ready to impress, giving you one less thing to worry about. Staging a home in California costs $3,455 on average. This will get you 60–90 days of a fully designed living room, kitchen, dining room, master bedroom, and bathrooms. Prices vary from city to city, so be sure to give local companies a call for specific estimates.
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Β» LEARN: How to Stage a House to Sell

Step 2: Set a price

Pricing strategy can make or break a FSBO sale. List your home for too little, and you leave money on the table. Price it too high, and the listing goes stale, forcing a price drop that could make buyers wary of the home.

πŸ™‹πŸ»β€β™€οΈ Ask a realtor: "Homes definitely need to be priced right depending on the season," said Shane Cabrera, a real estate agent of 13 years in Santa Clarita. "For example, the spike of buyers submitting offers will be a lot greater at the end of January than it will be a month earlier around Christmas. You can’t list a property and then just hope and pray it will sell. You’ve got to know what you’re doing."
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To get an accurate idea of what your house in California is worth, look at comparable listings online in your area. For example, if you think your house is worth about $300,000, search Zillow, Redfin, or other listing sites for properties that are about $50,000 more or less than that target. Analyze details about the homes and how they compare to yours.

A pre-listing appraisal can give you a more accurate starting point for pricing your home. In California, appraisals average $300 to $400 but help you walk away with thousands more once your home is sold.

Bonus tip: Ask an agent to perform a comparative market analysis (CMA) examining comparable properties that have sold recently in your neighborhood. Many realtors will do this for free in the hopes of gaining your business if you decide to forego FSBO.
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Β» LEARN: What is a Comparative Market Analysis?

State of the California real estate market

Determining the right price for your home depends on conditions in your local market. California home prices reached their all-time peak in spring of 2022, but have been on a downward trend ever since. Home values are still up 16% over this time last year, but homes are staying on the market longer, and price drops are becoming more common.

Median home value* $746,055
Median listing price+ $699,475
Listing price per square foot+ $422
Percent of homes with price reduction+ 15.7%
*Based on data from Zillow (November 2023)
⁺Based on data from Realtor.com (November 2023)
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Market forecasts indicate that the total of California home sales will decline by 7.2% in 2023. If you’re looking to buy a new home after you sell, this is great news, as you’ll face less competition with other buyers. But as a seller, don’t expect to sell as fast or for as much as you might have in 2022.

In a weakening California real estate market, it might feel like saving money on realtor fees is the way to go. But in a rapidly changing market, it pays to have the local expertise of a real estate agent. Otherwise, you may risk pricing your home too high or too low.

Sell a Home with Clever and Save Thousands!

Enter your ZIP code to see if Clever has a partner agent in your area.

Step 3: List your California home

Once you've decided on a price, it's time to write a listing description that speaks to California buyers. Selling real estate is about knowing what makes your property special. Understanding their priorities will help you identify what property features to highlight in your listing. Here are some of the top buyer priorities in California according to real estate professionals.

California buyer priorities Advice for FSBO sellers
Backyard amenities With mild winters and year-round warm temperatures, Californians spend a lot of time outside. They value shaded patios and pools to cool off in the summer, as well as outdoor kitchens and dining sets. A storage shed for tools and boats is a bonus.
Sprinkler system As California’s wildfires have become more destructive, many homeowners are installing interior and exterior sprinkler systems to protect their homes.
Car-charging station With or without Tesla, California has more electric cars than any other state. If your house in California already has an at-home charging station, include that in your listing. If not, let potential buyers know if your electrical box is capable of supporting one.
Energy efficiency California summers are sweltering, especially in southern parts of the state. As temperatures rise, so does energy use. If you've sprayed additional insulation in your home or installed energy-efficient windows or appliances, mention that in your listing. Consider including a recent utility bill.
A spectacular view Buyers are willing to pay more for a view of California's natural beauty, whether it's a beach, a lake, or a mountain. Promote the view on your listing and highlight nearby recreational activities.
Open floor plan California homeowners love open floor plans because they allow more light, make a home feel bigger, and facilitate a seamless flow from room to room.
Garage In some cities where parking is expensive or hard to find, many buyers will want a free place to park their car.
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Where to list your home

The best place to market your home is on the MLS. MLS listings populate onto real estate websites like Zillow, increasing your home's online presence. That's important because 51% of buyers found the homes they purchased via the internet.

However, agents are the only ones who can list on the MLS. You can work with an agent and still maintain control of your sale by using a flat fee MLS company that charges a one-time payment to list your home on the MLS. Otherwise, you need to use other real estate websites, some of which may include a small listing fee.

A flat fee MLS service usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months. Additional services, such as a virtual tour, downloadable contracts, and free changes to your listing, are often bundled into more expensive packages β€” but they're still typically cheaper than paying a listing agent's 3% commission fee. Find the best flat fee MLS companies in California to get MLS access and save money.

As a FSBO seller, you also have several free or low-cost options.

  • For sale by owner websites in California: There are several well-established and recognized for sale by owner sites that cater specifically to people wanting to buy or sell FSBO homes.
  • Social media: Post your home listing to Facebook, Twitter, Instagram, and Nextdoor. Sharing is free, and you can reach a lot of people where they’re already spending time. This is an ideal option if you want to sell your house in California and also save money.
  • For sale by owner yard sign: You can buy a FSBO sign from most hardware stores or online for $20–50. Choose one that allows you to add your phone number so interested buyers can contact you for property information and showings.
  • Craigslist: Posting your home on Craigslist is free and simple. Just go to the California page, find your city, and create a FSBO listing.

Β» MORE INFO: Learn How to Sell a House on Craigslist

Step 4: Show your home

It’s time for open houses and scheduled showings. Organization is key when trying to sell FSBO. When showing your home to potential buyers, you'll need a good scheduling system and a spreadsheet to save buyers' and buyer's agents’ contact information. You'll want to be flexible and try to show your house at buyers’ convenience.

Keep the home clean and decluttered at all times. The last thing you want is to scramble with a vacuum after a potential buyer calls for a last-minute showing. A house in California could move fast (particularly if the market is hot), but there are a lot of things that can potentially kill a buyer's interest.

πŸ™‹πŸΎAsk a realtor: "If you want to sell for top dollar on that first weekend, you need to have that home-look shine," Cabrera said. "You need to have great marketing."
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Step 5: Negotiate for the best possible price

Negotiations are about more than the final sale price. You and the buyer (or the buyer's agent) will also have to agree upon contract contingencies, how closing costs are divided, the timeline, and more. Usually, you'd have an agent and a real estate broker on your side. When you sell FSBO, it's all you.

To gain the upper hand, get creative with the seller concessions you offer. While they might cost you a little more at closing, concessions sweeten the deal for buyers and could lead to a higher final sale price. Concessions can include things like escrow fees, transfer tax, buyer's agents commission, or just repair credits.

Knowing what's important to buyers in your area will help you strengthen your offer. A Clever survey of local real estate professionals found that in California, sellers often cover 0.90% to 1.50% of buyers' closing costs. On a home of median market value, that will cost an additional $6,714 to $11,191.

Most common seller concessions in California:

Concession Benefits
Home warranty If your home has major appliances or systems that are on their last leg, a home warranty can give buyers peace of mind. A warranty will cover possible problems and is typically less expensive than paying for the repairs (or accepting a lower offer from a wary buyer).
Repair credits Repair credits are a win-win for buyers and sellers. You'll credit the buyer a set amount to cover the cost of repairs. Once the deal closes, buyers can oversee the project to their liking, and you don't have to worry about repairs going over budget.
Property taxes You often have to share past tax information about a property before closing. Many first-time home buyers are shocked by how much property taxes actually cost. By covering some of those costs, you can offer these buyers some financial relief.
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Who draws up the contract in a for-sale-by-owner transaction in California?

In a traditional home sale, the seller's agent draws up the contract (also called a purchase and sale agreement). If you forego an agent, you'll have to create the contract yourself or hire a California real estate attorney to help. The prospective buyer does not create the contract. When transferring a house in California, it's advisable to have an attorney look over all the details to protect all parties involved.

Writing a contract yourself can be difficult. You'll need to purchase a contract template online and fill it out with a comprehensive description of the terms, including the purchase price, down payment, closing date, payment plan, disclosures, and contingencies.

Mistakes, ambiguities, or the absence of key information may lead to legal disputes or cause you to lose money from the sale.

If you don't feel comfortable writing the contract yourself, you can hire a lawyer. California law doesn't require FSBO sellers to use an attorney, but they can help ensure your contract is free of loopholes, secures the best terms for you, and protects you against a breach of contract. Otherwise, there could be major issues with your purchase agreement that could haunt you later.

πŸ€” How much are real estate attorney fees in California?

Real estate attorneys usually work for an upfront flat fee or an hourly rate. In California, the average hourly rate is $247, but the cost will vary depending on your location. On the high end of the spectrum, attorney fees cost $395 in San Jose, compared to $238 in San Diego. Give local companies a call for specific estimates.
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The buyer's agent can also take care of the paperwork for the seller as a dual agent. Dual agency is legal in California, but agents are required to get written consent as soon as possible. This will cost less than getting your own real estate agent, but can introduce other problems.

Β» LEARN: Everything You Need to Know About Dual Agency

Step 6: Close

Closing is the final step. Even if you’re trying to sell FSBO, you still need to use a title company or an escrow agent to facilitate a smooth closing.

In Northern California, you'll likely just need a title company. Title companies in this area also perform escrow procedures and charge one fee for both services. Sellers may split the cost evenly with the buyer or agree to pay a certain percentage.

In Southern California, it's customary to use separate escrow and title companies, each charging different fees. Sellers usually pay for title insurance and the county transfer tax and split the escrow fee with the buyer.

What a title company does

The title company's primary job is to research a title to verify that the seller has the legal right to sell the property without any challenges. It also provides title insurance that protects buyers and lenders of any claims against the property that weren't revealed during the search.

πŸ‘‰ Property title searches in California

A title company researches legal documents to identify anything that might prevent the seller from transferring ownership, such as unpaid property taxes, liens against the property, or clerical errors related to the title. To search for a property title yourself, visit the county clerk's office where the property is located or search the address on its website. Most of the information is free to the public, but you may have to pay a small fee for copies.
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What an escrow company does

The escrow company holds and manages documents and funds required for the transaction. It ensures sellers have the right documents, gathers signatures, collects and distributes closing costs, and files documents with relevant agencies.

πŸ€” How long is the escrow process in California?

The length of escrow is agreed upon by the buyer and seller. It usually takes between 30–60 days. It can be delayed if the buyer has trouble getting financing, documents aren't signed on time, or there are disputes.
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Β» READ: How Much are Closing Costs for Sellers in California?

Paperwork to sell a house by owner in California

In a typical transaction, your agent will make sure you fill out all the necessary documents and forms. When you sell FSBO, you'll have to navigate the paperwork by yourself. Here’s a quick breakdown of California’s requirements.

Want to save this list for later? Download our FSBO paperwork checklist to help you prepare for your sale.

Required for all California real estate sales

Two forms of ID In most cases, a valid passport, driver's license, or other form of California-issued ID.
Copy of purchase agreement and addendums Copy of the original, signed sales agreement, as well as any agreed upon changes.
Closing statement A detailed list of all the costs associated with the sale and who pays them. This is often prepared by your escrow agent or title company.
Signed deed To legally transfer your property, you'll need the deed that proves you're the rightful owner. At closing, you'll sign the deed over to the buyer.
Bill of sale This is basically a receipt that includes both your information and the buyer's. It will also list the final price of the home and what was included in the sale.
Affidavit of title A notarized document that states you own the home, that there are no liens on the property, and that you are not simultaneously selling the home to someone else.

You should also get a preliminary title report before this.
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Additional documents

Loan payoff information If you have a mortgage on your home, you'll need documentation of exactly how much you still owe and any payoff fees. If you've already paid your mortgage in full, you'll need documentation proving that.
HOA forms and guidelines If your home is part of an HOA, you'll need to give the buyer documentation on the covenants, codes, restrictions, financial history, required fees, and approval process.
Survey results or survey affidavits A survey or an affidavit verifying a previous survey proves exactly where the property lines are.
Home inspection results If you had a pre-sale inspection, you'll want the results to compare to the buyer's inspection. If having a buyer's inspection was part of the sales agreement, you should receive a copy of the results before closing.
Proof of repairs or renovations Documentation proving any major repairs or changes to the house help verify its value. These receipts also provide buyers with information about who to contact if they discover issues with the repairs in the future.
Home warranty information The home warranty service agreement will explain what is covered, for how long, and costs associated with the policy.
Copies of relevant wills, trusts or power of attorney letters If you are selling an inherited property, you'll need copies of all legal documents that passed ownership to you.
Relevant affidavits (name affidavits, non-foreign affidavit under IRC 1445) You may need additional affidavits like a name affidavit, which lists all of your or the buyer's previous names, or an affidavit proving you are not a foreign citizen and, therefore, exempt from certain property sales taxes.
Closing disclosure If your buyer is taking out a mortgage and you agreed to certain seller's concessions, you may need a copy of their closing disclosure to verify the lender approved your concessions.
Correction statement and agreement If forms are lost or errors are discovered in the future, a correction statement and agreement requires you, the buyer, or their lender to replace or fix those documents.
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California disclosure forms

California transfer disclosure statement Details any known problems with your home and its major appliances and systems.
Megan's Law disclosure You and the buyer will need to sign a form that explains it's the buyer's responsibility to research local sex offender databases to see if any live in the area. The document also explains how buyers can access the database.
Natural hazard disclosure report/statement Discloses if the property is near a mapped area where natural hazards β€” such as earthquakes, flooding, or wildfires β€” occur.

You need to provide a natural hazard disclosure statement if you are aware of any potential hazards. Sellers typically enlist a real estate agent or natural hazard disclosure company to help with or complete this report.
Statewide buyer and seller advisory Explains the rights and responsibilities of everyone involved with the sale, including you, the buyer, and any agents.
Show more

Β» LEARN: Disclosure Requirements for Selling California Real Estate

Where to find documents

The California Association of Realtors provides most of the forms used in a typical real estate transaction, but they can only be downloaded by the association's members. However, they may be written in other legal formats if you choose to hire an attorney to help with the paperwork.

You can also find free downloadable forms online through LawDepot or eForms. Some services, such as US Legal, combine the most popular state-specific real estate forms into a package that FSBO sellers can purchase for a small monthly subscription.

When you're looking for other documents, such as tax records, property surveys, and deeds, check state or local government offices, such as your tax assessor’s office or department of revenue.

Just remember, many closing documents are legally binding agreements. Errors can result in an unenforceable contract that could derail your sale and cost you thousands in fees. To avoid an expensive mistake, consider working with a low-commission realtor.

πŸ’° Incredible savings, none of the DIY

Selling your home is time-consuming, and fraught with potential legal issues.

There's a better option. Clever pre-negotiates lower listing fees with top agents in your area. You still save on commission, while getting the support of a full-service agent.

  • Clever partner agents offer full-service support for half the typical cost: a pre-negotiated 1.5% listing fee
  • Clever sellers save an average of $7,000 on commission AND they get offers 2.8x faster than the national average

Ready to find real estate agents who can help you save thousands on your sale? Enter your zip code below to get started!

FSBO alternatives

If saving money is your main reason for selling FSBO, there are alternatives.

Semya-Moya

Clever is a nationwide real estate service that connects California home sellers with top, local agents. You pay Clever nothing. You'll only pay your full-service agent 1.5% of your home sale price, saving up to 50% on listing fees.

Semya-Moya

Get Started

πŸ’² Listing Fee

1.5% ($3,000 min.)

πŸ’° Buyer Savings

Cash back after closing

⭐ Avg. Customer Rating

5/5 (2,735 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.

Try Clever for free β€” save thousands on commission!

  • Clever is a free, nationwide agent matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
  • You get multiple agent matches so you can interview several, compare marketing plans, and choose the best fit.
  • Clever pre-negotiates low rates on your behalf β€” you get full service for just a 1.5% listing fee ($3,000 minimum).
  • If you buy with Clever, you can get cash back to help pay for your move.
  • You may not get matched with an agent from your preferred real estate brokerage.
  • Agents may not provide premium services like drone photography and professional home staging.

As of 11/6/2023, Clever has a 5.0 out of 5 rating on Trustpilot, based on 2,589 reviews.

Read reviews from real Clever customers here.

Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.

Discount real estate services in California

Discount real estate companies can help you sell your house for less than a traditional realtor, although pricing and services vary. In most cases, you'll still need to offer a competitive buyer's agent commission, but you'll save on listing fees.

Redfin

Full Review

πŸ’² Listing Fee

1.5% (min. fees vary)

πŸ’° Avg. Savings

$5,550

⭐ Avg. Customer Rating

2.9/5 (331 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Redfin offers real savings and is a proven brand. But sellers could compromise on service β€” especially agent experience and availability.

Read the full Redfin review.

  • If you buy and sell with Redfin, you'll get a 0.5% listing fee discount.
  • Redfin gives its listings premium placement in its popular home search app.
  • If finding the right agent is a top priority, you'll have limited options β€” Redfin only has a few agents in each of its markets.
  • Redfin agents handle more customers at once than the average realtor, so they may not be able to provide as much personalized service.

Redfin has a 2.9 out of 5 rating (331 reviews) across popular review sites like Google and Yelp.

Read reviews from real Redfin customers here.

Redfin is available in 80+ U.S. markets (see all locations).

Prevu Real Estate

Full Review

πŸ’² Listing Fee

1.5% (min. fees vary)

πŸ’° Avg. Savings

$2,450

⭐ Avg. Customer Rating

5.0/5 (465 reviews)
✍️ Editor's Take
Pros
Cons
Reviews
Locations

Prevu offers solid commission savings for buyers and sellers. But at certain price points, other discount brands may offer better value.

Read the full Prevu review.

  • Prevu's 1.5% listing fee saves sellers an average of $2,450 compared to a standard 3% commission rate.
  • Eligible buyers get a commission rebate worth up to 2% of the home price.
  • High minimum fees may limit your savings if you're selling a lower-priced home.
  • Prevu has a small team, which limits your options if you don't hit it off with the first agent it sends you.

Prevu has a 5.0 out of 5 rating (465 reviews) across popular review sites like Google and Yelp.

Read reviews from real Yelp customers here.

Prevu is available in the following areas: CA, CO, CT, MA, NY, PA, TX, WA.

Β» COMPARE: Discount Real Estate Brokers: Who's the BEST in 2021?

Flat fee MLS companies in California

A flat fee MLS company will post your listing on the local MLS, usually for a low, upfront fee. In California, this will typically cost you a couple hundred dollars.

Congress Realty

Congress Realty

Best For

Sellers who want a lot of a-la-carte options

Price Range

$299
Pros & Cons

Pros:

  • Congress Realty has a phone system that forwards any phone calls about your listing directly to you.
  • You can request a free Comparative Marketing Analysis if you want a better idea of what homes in your area have sold for recently.

Cons:

  • Congress Realty costs a lot more than competitors with similar MLS packages.
  • You have to pay an extra $50 if you want more than four photos in your listing.

MLS Town

MLS Town

Best For

Budget-conscious sellers who only need a basic listing

Price Range

$95-895
Pros & Cons

Pros:

  • You can add on listing support and offer negotiation for an hourly fee.
  • The basic listing comes with eight photos. Many listing packages under $100 include less than five photos.

Cons:

  • The basic listing is only a three-month listing term. If you need more time, you have to upgrade to the Annual plan for a 12-month listing.
  • You can't make changes to your listing or add open houses with the basic plan.
  • This broker is currently only available in Northern California.

HomeListers.House

HomeListers.House

Best For

Sellers who don't mind paying for extra guidance from the listing broker.

Price Range

$1,295
Pros & Cons

Pros:

  • You don't have to pay upfront. Instead, you'll pay the flat fee when at closing.
  • You'll get help preparing offers, counter-offers, and disclosures from the broker.

Cons:

  • There's only one listing option and it's fairly expensive β€” although you do get a lot of broker support. This isn't a great option for sellers on a tight budget.
  • HomeListers.House is currently only available in 10 Southern California markets.

Β» FIND: 6 Best California Flat Fee MLS Companies in 2021

πŸ‘‹ Need a great agent on your side?

Connect with top local agents who can help you get a great deal on a new home. Eligible buyers also earn cash back after closing.

FAQs: How to sell your house without a realtor in California

What documents are needed to sell a house in California?

There are many legal documents required to sell a house in California (see the Paperwork to sell a house by owner in California section in the guide above for details). You don't necessarily need a real estate agent to collect these documents; you can also use a California real estate attorney. It can be dangerous to try to produce all these documents on your own, as even a small error could have devastating consequences when selling your California home.

How does the buyer's agent get paid in a California for-sale-by-owner transaction?

Traditionally, the homeowner pays commission to the buyer's agent and listing agent. As a FSBO seller, you don't have to pay the buyer's agent, but it's a good incentive for realtors to show your house to their clients. If you don't offer a competitive commission, agents may prioritize other homes whose owners offer a commission.

How do you get an MLS listing without a realtor in California?

Only agents can list on the MLS. You can work with an agent and still maintain control of your sale by using a flat fee company that charges a one-time payment to list your home on the MLS. It usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months. Find the best flat fee MLS companies in California.

How long is escrow in California?

The length of escrow is agreed upon by the buyer and seller. It usually takes between 30–60 days. It can be delayed if the buyer has trouble getting financing, documents aren't signed on time, or there are disputes.

Who pays for escrow fees in California?

In Northern California, title companies perform escrow procedures and charge one fee for both services. Sellers may split the cost evenly with the buyer or agree to pay a certain percentage. In Southern California, it's customary to use separate escrow and title companies, each charging different fees. Sellers usually pay for title insurance and the county transfer tax and split the escrow fee with the buyer.

What are the steps involved in selling a house by owner in California?

Selling a California home without a real estate agent is the same core process, you just need to do it yourself. You will need to prepare your house for sale, set a price, and either list your property online or pay a flat fee for a flat fee MLS service. Once you have an offer in hand, you can open the escrow process with an escrow account and move to close.

What are the risks involved in selling a house by owner in California?

There are quite a few risks when you sell FSBO. You could underprice your house or make a mistake during the closing that could cost you a significant amount of money. You could get scammed during the selling process if you don't work with escrow agents, or you could write a real estate contract that is ultimately void. Without MLS access, it may simply take you a long time to sell your house.

Additional resources for California home sellers

Selling a House in California: Everything You Need to Know

Selling your house in California? Our in-depth guide breaks down the process into 8 easy-to-understand steps, from listing through closing.

Average Real Estate Commission in California

4.91% is the average real estate commission rate in California. Learn how California real estate commission works and how you can save on realtor fees.

Average Cost to Sell a House in California

It costs california to sell a house in California on average! Use our cost of selling a house calculator to see how much you'll pay when you sell your home.

When Is the Best Time to Sell a House in California?

If you’re thinking of selling your California home, here are the best (and worst) times of year to do it, by the numbers.

Average Time to Sell a House in California

We’ve compiled the latest data on how long it takes to sell a house in California β€” along with top tips on how to sell your house faster AND for top dollar.

The post How to Sell a House By Owner in California (2023 Update) appeared first on Semya-Moya.

]]> How to List on the MLS Without a Realtor https://semya-moya.ru/real-estate-blog/listing-mls-without-realtor/ Wed, 21 Jun 2023 12:19:35 +0000 https://semya-moya.ru/listing-mls-without-realtor/ If you're selling your home for sale by owner, you can use a flat-fee company that charges a one-time payment to list your property on the MLS.

The post How to List on the MLS Without a Realtor appeared first on Semya-Moya.

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What is the MLS? | Why use the MLS? | Who has access? | What is a flat-fee MLS? | Why use a flat-fee MLS? | How to list on a flat-fee MLS | Flat-fee MLS alternatives

How to list on the MLS FSBO

If you're selling your home for sale by owner and want to list on the Multiple Listing Service (MLS), you'll need to work with an agent. They are the only ones who can list on the MLS.

You can work with an agent and still maintain control of your sale by using a flat-fee company that charges a one-time payment to list your home on the MLS.

Using a flat-fee service to list on the MLS is cheaper than paying a seller's agent commission, which is usually 3% of the sale price. But selling a property involves more than just listing on the MLS.

As a FSBO seller, you're responsible for choosing an accurate listing price, marketing your home, negotiating, and completing the necessary paperwork. A flat-fee MLS company may not offer those services or charge you more for them.

If you want to save money when selling your home but need more support, consider using a low-commission agent. Semya-Moya pre-negotiates discount rates with top agents in your area.

You'll get an MLS listing, plus all the support of a full-service agent, for just 1.5%. The service is free, and you can walk away at any time.

Β» SAVE: Find top local agents and get a 1.5% listing fee!

What is the MLS?

The MLS is a private database created and maintained by real estate brokers to facilitate home buying and selling. There are more than 800 regional Multiple Listing Services through which participating realtors list homes for sale. Buyer's agents from different brokerages can then access the same pool of properties consolidated in one place.

Why use the MLS?

Listing on the MLS increases the likelihood of a successful sale because properties get a ton of exposure online. The internet is where 51% of buyers found the homes they purchased.

A bonus of using the MLS is that listings automatically sync to popular real estate websites like Zillow, Trulia, and Realtor.com. Listing on those sites is crucial because they are where most people begin searching for homes. More than 43% of buyers look at listings online before they take any other step in the home-buying journey.

The MLS is also a great tool for real estate agents. Most agents subscribe to their local MLS and receive notifications when new homes are listed. Realtors represented nearly 90% of buyers who purchased homes last year, so you'll want to get on their radar.

Β»LEARN: The Pros and Cons of a Multiple Listing Service in Real Estate

Can I list on the MLS without a Realtor?

No. Only licensed agents can list on the MLS. Each regional MLS has its own rules, but in most cases, access is restricted to members of the National Association of Realtors (NAR).

The NAR governs most local Multiple Listing Services and requires agents to pay dues for access. This helps protect the overall accuracy of the site. If agents misrepresent a home or fail to report a change in its status, they could face fines or restricted access.

πŸ’‘What is listing status?
The status of a property shows buyers if a home is still available, under contract, or has been taken off the market for some reason.

MLS listings may also contain private information, such as times a home will be vacant for showings, that is best kept among professionals who are held to strict ethical standards.

If you don't have an agent, the next best option is to use a flat-fee MLS company.

What is a flat-fee MLS company?

A flat-fee MLS company charges a set rate to list your home on the MLS. It usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months.

Additional services are often bundled into premium packages, which are available for an extra fee. The most expensive packages cost up to $2,000, but you get more dedicated support. They may include:

  • Professional photography and additional listing photos
  • Videos or a virtual tour
  • A longer listing term
  • Free changes to your listing
  • A comparative market analysis and pricing assistance
  • Negotiation support
  • Downloadable contracts and disclosures

Flat fee MLS companies offer minimal services and require a lot of work on your part, but if you have your heart set on flat fee MLS, we recommend Unreal Estate. You can list your house for as low as $99.

Why use a flat-fee MLS company?

A flat-fee service is the only way to list and advertise your home on the MLS without an agent. Remember, your flat-fee MLS listing will automatically syndicate to Zillow, Trulia, Redfin, and Realtor.com β€” enhancing your home's online presence.

A flat-fee MLS company is also cheaper than paying 3% commission to a listing agent. Flat-fee services can add up, but the Department of Justice found that clients can potentially save thousands of dollars on commission fees.

Although you'll save on seller's agent fees, you'll still have to pay full buyer's agent commission, which is usually around 2–3% of the sale price. Doing so is a requirement of many flat-fee MLS companies.

Pros Cons
βœ… Using a flat-fee MLS is cheaper than paying agent commission ❌ You still have to pay buyer's agent commission
βœ… Your home will receive maximum exposure online ❌ You can't leverage an agent's networking connections to find buyers
βœ… You can choose what services you need ❌ Extra services will cost you more, and you won't get the support of a full-service agent
Show more

Selling your home is difficult, even with a flat-fee MLS company. Add expensive service packages, and you'll save less than you planned and still be stuck with most of the work.

There's a better option. Clever can connect you with an agent from a trusted brokerage who will provide full-service support for just 1.5%. The service is free, and there's no obligation.

πŸ’° Compare low commission agents and save thousands

Try our free, no-obligation agent-matching service! Clever will get proposals from the top agents in your area β€” and negotiate discounted 1.5% listing fees.

How to list with a flat-fee MLS company

Step 1: Research the best flat-fee MLS companies in your area

There are hundreds of flat-fee services in operation. Some companies like Unreal Estate, Fizber, and FSBO.com are available nationwide. But some states might have more coverage than others.

A national company will likely hand you over to a local broker, who will list on the MLS in your region. That broker's name will be on your listing and will be your main point of contact. To avoid the middleman, it may be best to start with a local company that has more knowledge of your area.

When choosing a flat-fee MLS company, ask about its network of brokers. Does it have strong coverage in your location? Do brokers have access to the specific MLS in your area? If not, you may not be reaching the most appropriate audience.

Finally, read reviews online to discover if customers were satisfied with their service.

Β»EXPLORE: Flat-Fee MLS Listings: Find the BEST Services Near You

Step 2: Choose a plan that's right for you

Once you've selected a company, determine what services you need and how much you're willing to spend. Weigh opportunity costs carefully.

For example, if you choose a plan without professional photography, you'll likely save a few hundred dollars in the short term. But if your home fails to attract buyers online, it may sit on the market longer, forcing you to lower your price by thousands.

If you're not sure what you need, ask if you can pay for additional services Γ  la carte in the future.

Step 3: Sign the listing agreement

After choosing your plan, you'll be asked to sign an exclusive listing agreement. The agreement outlines what services are included in your package and who is responsible for providing them.

Make sure to read the fine print for any service. Some companies claim to charge only a flat fee but then impose "closing fees" or "administration fees." If you notice any suspicious language, drop that company and look for another.

Step 4: Write an engaging property description

A well-written listing description is one of the first opportunities you'll have to tell potential buyers about your home. It needs to include all the essential information, such as the number of bedrooms and bathrooms, square footage, and any special features.

Think about how buyers could benefit from your home. Is it a good fit for growing families? Pet owners? Lovers of the outdoors? Use creative language to target those buyers and pique their interest.

You'll also want to emphasize nearby amenities that give your home an edge over others on the market. Is your home located in a good school district? Are grocery stores and shopping centers nearby? Can you walk to a park? Describe those features in your listing.

Keep the description short β€” around 250 words or less. That's the space limitation on many real estate websites. Plus, buyers aren't likely to read a lengthy listing.

If you need inspiration, look at examples online.

Β»READ: 5 Great "House for Sale" Listing Description Examples

Step 5: Upload photos

Homes with more photos tend to sell faster. There is no magic number, but Zillow research found that the sweet spot is between 22–27. That's also the upload limit of most MLS companies.

Homes with fewer than nine photos are about 20% less likely to sell within 60 days than homes with 22–27 photos. Homes with more than 28 photos also sit on the market longer.

Consider hiring a professional photographer or videographer. About 77% of buyers said viewing professional photos was extremely or somewhat important in their decision to buy a home.

Must-have photos Nice-to-have photos
Owner's suite Patio or deck
Kitchen Pool or hot tub
Living room Landscaping
Bathrooms Outbuildings
Show more

Β»MORE: Real Estate Photography Might Be the Most Important Part of Your Listing

Step 6: View your listing on the MLS

Your listing will go live about 24–48 hours after you submit its information. Review it carefully to make sure there are no mistakes. Depending on your plan, you may have to pay for changes.

Once your listing is posted, you're responsible for fielding calls and scheduling showings if those services aren't included in your package.

You must notify your flat-fee service within one business day after closing so it can update your listing. Failing to do so could result in a fine.

Consider a flat-fee MLS alternative

A flat-fee MLS company is the best way to market your home online without a realtor, but it isn't the only option. You can list your property for free on social media and some real estate websites.

Zillow and Trulia

Zillow and Trulia allow FSBO sellers to manually input their listings and upload unlimited photos. However, FSBO listings do not appear on the property map. Buyers will only see your home if they use the for sale by owner filter.

Β»LEARN: Zillow Listing Fees: Are They Worth the Cost?

Free FSBO websites

Some flat-fee companies, such as Fizber and ForSaleByOwner.com, offer free listings on their websites. Those listings will not appear on the MLS or populate onto other real estate websites unless you upgrade and pay for that service.

Β»MORE: 16 Best For Sale By Owner Websites: Read This BEFORE You Sell

Semya-Moya

Foregoing a flat-fee MLS listing will save you money, but advertising on other platforms simply won't attract the same number of shoppers. That will make it more difficult for buyers and their agents to find your home.

Get the most visibility for your listing and still save money by using Clever. Our free service connects you with a full-service, low-commission agent who will list your home on the MLS and guide you through every step of the home-selling process. You can avoid the hassle of an FSBO sale without breaking the bank.

πŸ’° Clever pre-negotiates low commission rates for you!

Try Clever's free agent matching service: compare top agents in your market, get built-in commission savings.

  • Choose from top local agents from major brands like Compass and RE/MAX
  • Get a pre-negotiated 1.5% listing fee (half the typical rate)
  • Clever's service is 100% free with no obligation
  • You only pay your agent's low listing fee when your house sells

Click below to view agents in your area and see how much you could save!

Related reading

How to Get MLS Access: No Realtor's License Required

A real estate license is usually required to get access to the MLS, but there are a few ways around it. Learn how to access MLS listings as a home buyer or seller.

How to Sell Your House For Sale by Owner

Everything you need to know to sell your house by owner, including marketing, pricing, and state specific paperwork.

How to Find the BEST Low Commission Real Estate Agents

Low commission real estate agents can save you thousands of dollars on realtor fees when you sell your house, but which low commission companies offer the best overall value? Read our guide to find out!

FAQs

Can I list on the MLS without a Realtor?

No. Only licensed agents can list on the MLS. Each regional MLS has its own rules, but in most cases, access is restricted to members of the National Association of Realtors (NAR). If you don't have an agent, the next best option is to use a flat-fee company that charges a one-time payment to list on the MLS.

How do I list on the MLS without a Realtor?

  1. Research the best flat-fee MLS companies in your area.
  2. Choose a plan that's right for you.
  3. Write an engaging listing description.
  4. Upload photos.
  5. Sign the listing agreement.
  6. View your listing on the MLS.

How much is a flat-fee MLS company?

A flat-fee MLS listing usually costs a few hundred dollars and includes a property description, up to 25 photos, and a listing lasting no more than 12 months. Additional services are often bundled into premium packages, which are available for an extra fee. The most expensive packages cost up to $2,000, but you get more dedicated support. Flat-fee services can add up, but clients can potentially save thousands of dollars on seller's agent commission.

The post How to List on the MLS Without a Realtor appeared first on Semya-Moya.

]]> 2022 Data: 90% of Recent Home Sellers Have Regrets, Despite Hot Market https://semya-moya.ru/research/home-sellers-2022/ Tue, 06 Jun 2023 19:50:53 +0000 https://semya-moya.ru/home-sellers-2022/ Selling a home was easy for most Americans in 2021, but as interest rates rise, 1 in 3 sellers say it's no longer a good time to sell. Learn how home sellers are adapting to worsening market conditions.

The post 2022 Data: 90% of Recent Home Sellers Have Regrets, Despite Hot Market appeared first on Semya-Moya.

]]> recent home sellers

🏠 What do home sellers prioritize? 🏠
Even in a hot seller's market, 90% of home sellers in 2021 and 2022 compromised on their priorities. The No. 1 priority among home sellers was selling quickly (42%), but more than 1 in 6 (17%) settled for a lengthier sale.
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Priorities vs. Compromises | Home Seller Regrets | Home Sale Prices | Selling Above Asking Price | Selling Below Asking Price | Choosing the Best Offer | Days on Market | Home Selling Made Easier

Selling a home has been an easy and hassle-free endeavor for most Americans over the past two years. Amid low inventory, demand for housing reached new highs, creating an extreme seller's market that Americans leveraged to cash in on big profits.

In 2021, home sellers realized a profit of roughly $94,000 β€” up 45% from the $65,000 they collected in 2020. As a result, 1 in 5 Americans (20%) who sold their home in 2021 and 2022 did so because they thought they could make a profit, according to a new Semya-Moya survey of 1,000 Americans.

But the decision to sell wasn't all about the money. As buyer concessions, waived inspections, and record home-sale times became the norm, nearly 1 in 3 Americans (30%) listed their home because it was a good time to sell.

Not only could Americans sell for a hefty profit, they could also do so quickly and without much effort.

More than three-fourths of sellers (78%) were happy with the timing of their sale β€” especially because two-thirds (64%) think the real estate market is now worse for sellers than when they sold. Nearly one-third of respondents (31%) believe it's no longer a good time to sell and an even worse time to buy (36%).

Selling a home isn't as effortless as it was a year ago. In March 2022, the Federal Reserve raised interest rates for the first time since 2018 to tackle rampant inflation. After months of incremental hikes, the rate reached nearly 7% in October, pricing out many buyers and chilling a red-hot market.

About 40% of respondents expected more competition among buyers than they actually experienced, with 2022 sellers 16% more likely than 2021 sellers to be disappointed in the level of competition.

To learn more about the reality of selling in a rapidly changing market, we surveyed 1,000 Americans who sold a home in 2021 and 2022. We found that 93% of sellers said market changes impacted their selling experience, particularly the timing of their sale.

Approximately 39% of Americans fast-tracked their plans to sell ahead of new interest rate hikes. Another third (30%) delayed their plans to sell, especially while high prices and interest rates make buying a new home even more unaffordable.

Read on to learn how Americans sold their homes in 2021 and 2022 and the ways they changed tactics amid worsening market conditions.

Β» MORE: 10 Reasons Home Sellers May Be Striking Out in 2023

πŸ”‘ American Home Seller Statistics

  • Nearly 2 in 3 Americans who sold their home in 2021 and 2022 (64%) think the real estate market is now worse for sellers.
    • About one-third of respondents (31%) think it's no longer a good time to sell and an even worse time to buy (36%).
  • Despite a strong seller’s market, 90% of sellers compromised on their priorities.
    • The No. 1 priority for home sellers was to sell quickly (42%), but more than 1 in 6 (17%) settled for a lengthier sale.
  • 2021 sellers were 2.5x more likely than 2022 sellers to say they did not have to make compromises when selling, indicating a cooling market.
  • 90% of sellers have regrets, with 1 in 4 Americans (25%) saying they should have made more repairs before listing their home.
  • About 80% of sellers sold their homes for at least asking price, including 1 in 3 (35%) who received more than asking price.
    • For homes that sold above asking price, the median amount paid over the list price was $60,000 for a median sale price of $530,000.
  • About 1 in 5 sellers (21%) sold below asking price, with 2022 sellers 23% more likely than 2021 sellers to sell for less.
  • Most sellers (94%) received more than one offer, with more than half (54%) receiving five or more offers.
  • Selling to an all-cash buyer was a priority for nearly 1 in 3 sellers (30%).
    • Of those who said it was a priority, 52% actually sold to an all-cash buyer.
  • More than half of sellers (54%) sold their home within one month, with nearly 1 in 5 (19%) reporting it was on the market for just one to two weeks.
  • Among first-time sellers, 40% said selling their home was easier than expected, while repeat sellers found it even easier β€” nearly half (48%) said it was easier than the last time they sold.
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90% of Home Sellers Compromised on Their Priorities

Despite a hot market, 90% of recent home sellers had to compromise on their priorities.

However, fewer than half of sellers who compromised (45%) sold their home in 2021, when borrowing was more affordable and buyer demand was higher. In fact, 2021 home sellers were 2.5x more likely than 2022 sellers to say they did not have to make any compromises when selling.

Sellers prioritized the timing of their sale above all else, with 42% saying they wanted to sell quickly and 40% saying they wanted to sell on their own timeline.

Although selling quickly was their chief concern, sellers compromised on this priority the most. Of those who prioritized selling quickly, 1 in 6 (17%) said their sale took longer than expected.

2022 sellers, in particular, were 41% more likely to experience a longer home sale as shrinking demand gave buyers more time to tour homes and think about their decision.

In addition to sacrificing their preferred timeline, more than 1 in 3 sellers (36%) had to concede to additional buyer demands, such as repairs. Of the 37% of sellers who did not want to make repairs, 14% had to compromise on that priority.

2022 sellers once again bore the brunt of worsening market conditions. They were 58% more likely to make concessions and 25% more likely to make repairs than 2021 sellers.

90% of Recent Home Sellers Have Regrets

Compromising on their priorities inevitably led to regret among 90% of sellers.

One-fourth of Americans (25%) said they should have made repairs before listing their home, making it the most common regret among sellers.

Making repairs is important because homes in good condition increase in value and attract more buyers. On the other hand, allowing a home to fall into disrepair could lead to negative equity and cut into sellers' profits.

That's no small consideration when 1 in 5 sellers (20%) regretted that their home didn't sell for enough money.

Sellers also regretted listing their home before finding a new place to live. Three-fourths of sellers (73%) bought a new home after they sold, but a quarter (25%) said it was a struggle.

The U.S. is short about 3.8 million homes, making it more difficult for buyers to procure a place to live. About 80% of buyers had to make more than one offer on a home, with 41% submitting five or more, according to an Anytime Estimate survey.

Luckily, Americans who previously purchased a home had a competitive advantage. With profit from their home sale, they could use those funds to pay for a new home in cash, increase their down payment, or win a bidding war. As a result, they were 47% more likely than first-time buyers to submit only one offer.

Finding a new place to live was tough for multiple reasons. Beyond competitive market conditions, sellers often had an emotional connection to their home. One-fourth of respondents (25%) regretted selling because they miss their old home, especially if they were forced to move because of a job change or financial situation.

1 in 5 Sellers Regret Not Using a Real Estate Agent

To avoid mistakes that could lead to regret, a majority of sellers turned to a real estate agent. Two-thirds of sellers (67%) hired an agent, 20% sold their home by owner, and 12% sold to an iBuyer.

An experienced agent can make the home-selling process easier for sellers by tackling stressful tasks, such as organizing showings and negotiating with buyers. Among sellers whose home-selling process was easier than expected, 51% said it was because they had a good agent.

More than half of sellers (52%) were satisfied with their agent, but 1 in 5 (20%) regretted how much they paid in commission.

For many sellers, however, a Realtor's expertise and assistance was worth the price. Among those with regrets, about 21% said they should have sold with a real estate agent β€” slightly higher than the 20% who wish they sold by owner.

Sellers Sold Their Home for a Median of $560,000

As real estate values grow over time, the number of years Americans spend in their home before selling can significantly impact their profit. Real estate experts recommend living in a home at least five years so the value can rise enough to cover the costs of buying.

More than one-third of respondents (36%) followed that advice and lived in their home five to 10 years before selling. Another third (34%), however, stayed in their house less than five years.

That percentage includes 1 in 10 sellers (10%) who lived in their home for less than one year, even though short-term capital gains are taxed at higher rates than assets held for at least two years.

Selling before the five-year mark might have made financial sense in 2021, when sellers could recoup their costs faster because of rapidly rising home values. Nationally, home values tend to appreciate 3% per year. But from August 2021 to August 2022, they rose nearly 14%.

Home prices are finally starting to fall, but survey respondents still sold their homes for a median price of $560,000 β€” 27% higher than the national median of nearly $455,000.

About 40% of Americans sold a home in the $400,000–$695,000 range, while nearly 1 in 4 (22%) sold a home between $700,000–$995,000.

1 in 3 Sellers Received More Than Asking Price for Their Home

More than half of sellers (55%) were happy with the profit they made on their sale β€” likely because 80% sold their homes for at least asking price.

About 1 in 3 sellers (35%) accepted an offer above asking price β€” roughly equivalent to the third of recent home buyers (31%) who paid more than the list price, according to the Anytime Estimate survey.

In the peak home-buying months of April through August, 83% of 2021 sellers sold for asking price or more, compared to 74% of 2022 buyers β€” a decrease of 11%.

It's perhaps no surprise, then, that 2021 sellers were 26% more likely than 2022 sellers to be satisfied with the profit they made on their sale.

In the past, real estate agents have suggested offering 1%–3% above asking price, but buyers desperate to own homes offered a median 13% more. Among sellers who secured more than their asking price:

  • 1 in 3 received up to 10% more.
  • 1 in 4 received 11%–20% more.
  • 1 in 3 received 21%-30% more.

For homes that sold above asking price, the median amount paid over the listing price was $60,000 for a median sale price of $530,000.

Only 1 in 5 Sellers Sold Below Asking Price

The average home sold above listing price for 17 straight months but fell under asking price for the first time in August 2022 as the market weakened.

Home sellers in 2022 were 27% more likely than home sellers in 2021 to sell below asking price. Of the 1 in 5 respondents (21%) who sold below the listing amount, more than half (56%) sold in 2022.

The median amount paid under the asking price was $95,000, but that doesn't mean sellers made less money on their sale. For homes that sold below asking price, the median sale price was $575,000 β€” about 8% higher than the median sale price of homes that sold above asking price.

Although two-thirds of sellers (63%) had to reduce their price, setting the initial amount higher may have resulted in a more profitable sale, even if sellers were negotiated down.

94% of Sellers Received More Than One Offer

Amid high demand for a limited number of homes, most sellers (94%) received more than one offer. Of those who received multiple offers, about half (54%) received five or more offers, and one-third (37%) received seven or more. About 1 in 20 (5%) received more than 10 offers.

With so many options, sellers could afford to be picky. Buyers who offered the highest price didn't always seal the deal. Nearly 1 in 3 sellers (30%) prioritized selling to an all-cash buyer. Of those who said it was a priority, 52% actually sold to an all-cash buyer.

Still, almost 1 in 5 sellers (19%) said they didn't receive as many offers as expected. Surprisingly, half of those buyers sold their home in 2021, indicating that even in a hot market, many had unrealistic expectations.

More Than Half of Sellers Accepted an Offer Within 1 Month

It didn't take sellers long to find an acceptable offer, and more than half (54%) were satisfied with how quickly their home sold.

Fifty-four percent of sellers accepted an offer within one month of listing on the open market. About 1 in 5 (19%) said their home was on the market for less than one week, including 1 in 12 (8%) whose home was on the market for less than a day.

Respondents' answers correspond with national data showing the median time on market was approximately 36 days in June 2021 β€” the fastest rate in which homes sold that year.

Buyers were motivated to purchase while interest rates remained low. When they started to rise, time on market plummeted to 31 days between the peak selling months of April and June 2022 as anxious buyers rushed to beat additional increases.

By September 2022, the median time on market jumped to 50 days β€” seven days longer than the same month a year before.

Among sellers who sold after June 2022, 54% said their home sat on the market for one month or longer β€” making them 32% more likely than respondents who sold earlier that year to say so. Americans who sold in the latter part of 2022 were also 2.5x more likely to say their home was on the market for at least six months.

If anyone knows how to sell a home quickly, it's an experienced real estate agent. Sellers who hired an agent were 13% more likely to sell their home in less than a month than those who sold by owner.

iBuyers can also help Americans sell fast, but only 28% of sellers are familiar with those companies. As a result, sellers may use iBuyers only as a last resort if they've tried and failed to sell on the open market.

Sellers who sold to an iBuyer were 3x more likely than those who used an agent to say their home sat on the market for six months or more.

Selling Quickly Makes Home Selling Easier

Although the market isn't as competitive now as it was in 2021, it still favors sellers, and 41% of respondents said selling their home was easier than they anticipated.

Among first-time sellers, 40% said it was easier than expected, while nearly half of repeat sellers (48%) thought it was easier than their previous sale.

A seller's market has many advantages for Americans listing their homes. About 1 in 4 sellers reported that buyers made concessions (26%), waived an inspection (26%), and did not ask for repairs (24%).

But the greatest advantage, according to respondents, was that homes sold quickly. Among those who found home selling easier than expected, a majority said it was because they sold quickly (52%) and for a good price (51%).

Another third (33%) said the sale didn't require much effort or prep work.

But as fewer Americans look to buy as interest rates rise, the market pendulum has shifted somewhat back toward buyers. Consequently, 2022 sellers were 43% less likely than 2021 sellers to say home selling was easier than expected.

Sellers who had to concede to buyers' demands found home selling more difficult. The most common difficulties included making repairs (42%), making concessions (39%), and lowering the asking price (37%) β€” with 2022 sellers 21% more likely to reduce their price than 2021 sellers.

Methodology

The proprietary data featured in this study comes from an online survey commissioned by Semya-Moya. One thousand people who sold a home in 2021 or 2022 were surveyed Sept. 29 – Oct. 2, 2022. Each respondent answered up to 21 questions related to their home-selling experience.

About Clever

Since 2017, Semya-Moya has been on a mission to make selling or buying a home easier and more affordable for everyone. 12 million annual readers rely on Clever's library of educational content and data-driven research to make smarter real estate decisionsβ€”and to date, Clever has helped consumers save more than $70 million on realtor fees. Clever's research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more.

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FAQs

Is it a buyer's or seller's market?

Today's market still favors sellers. However, the market pendulum is swinging back toward buyers, with more than one-third of sellers (36%) making concessions. Learn more.

How fast can I sell my house?

Fifty-four percent of recent home sellers said their home was on the market less than one month, but homes are taking longer to sell as interest rates rise and buyer demand falls. Among Americans who sold after June 2022, 54% said their home sat on the market one month or longer. Learn more.

How long should you own a house before selling?

Real estate experts recommend living in a home at least five years before selling. More than one-third of sellers (36%) lived in their home for five to 10 years, while 1 in 4 (24%) reported a residency of less than five years. Learn more.

The post 2022 Data: 90% of Recent Home Sellers Have Regrets, Despite Hot Market appeared first on Semya-Moya.

]]> American Home Buyer and Seller Report: 2023 Edition https://semya-moya.ru/research/homebuyer-report-2023/ Mon, 22 May 2023 19:42:43 +0000 https://semya-moya.ru/homebuyer-report-2023/ We surveyed 1,000 recent home buyers and sellers to find out how they're navigating a gridlocked housing market that makes nobody feel like a winner.

The post American Home Buyer and Seller Report: 2023 Edition appeared first on Semya-Moya.

]]> homebuyer report

🏑 How many Americans experience home buyer's remorse? 🏑
Nearly all buyers in 2023 (93%) have regrets about their home-buying experience β€” up from 72% in 2022.
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Home Sale Price | Offering Above and Below Asking Price | Financial Struggles of Homeownership | Home-Buying Difficulties | Priorities vs. Compromises | Home Buyer Regrets | Home-Buying Timeline | Home-Selling Timeline | Home Sale Profit | Home Seller Regrets

Home buyers are saying good riddance to bidding wars and fierce competition as the hot housing market cools after two volatile years. But for many beleaguered buyers, the market correction hasn't been the boon for which they had hoped.

The 2023 real estate market is still a pretty lousy environment for buyers, and 93% of recent buyers say it impacted their buying experience β€” up from 88% in 2022, according to a new survey from Semya-Moya

Competition has waned, but rising mortgage rates have forced buyers to lower their budgets, making it even more difficult to find an affordable home while prices remain near record highs.

Meanwhile, the dip in buyer demand means most home sellers are no longer profiting from bidding wars, benefiting from contingency-free offers, or selling their homes as quickly.

As a result, everyone is disappointed, and nobody feels like a winner.

To learn how buyers and sellers are navigating this bizarre new market, we surveyed 1,000 Americans who purchased a home in 2022 and 2023.

We found that half of Americans think it's a bad time to sell a home (51%) and an even worse time to buy (53%).

About 44% of buyers say purchasing a home in 2023 is more difficult than expected, and 36% aren't satisfied with their buying experience.

First-time buyers are more likely to be dissatisfied, and it's not hard to see why.

In addition to paying higher prices and facing more competition, 51% say the seller of their home took advantage of them, and 67% say they felt pressured to submit an offer β€” making them 11% and 15% more likely, respectively, than repeat buyers to say so.

New and repeat buyers alike persevered through the challenging market, but the personal and financial sacrifices they made to own homes took their toll. More than half of buyers (52%) say their overall happiness has not improved since purchasing their home.

Read on to learn more about the obstacles buyers encountered and the compromises they made to own homes.

πŸ”‘ Recent Home Buyers and Sellers Statistics

  • Nearly all recent buyers (93%) say the real estate market impacted their home-buying experience, compared to 88% in 2022.
  • A majority of Americans think it's a bad time to sell a home (51%) and an even worse time to buy (53%).
  • The average buyer spent 23% more on their home than the national average price of $516,500 and 31% more than the $500,156 they paid in 2022.
  • A majority of recent homeowners (58%) say they overpaid for their home.
  • More than half of home buyers (56%) have felt in over their head financially since purchasing their home, and almost two-thirds (62%) have struggled to make mortgage payments on time.
  • More than 1 in 4 recent home buyers say their overall financial situation has deteriorated (27%) and their debt burden (29%) has gotten worse since purchasing a home.
    • While paying for their home, about half of home buyers (56%) have taken on additional debt to maintain their lifestyle, with first-time buyers 11% more likely than repeat buyers to borrow more money.
  • The percentage of homeowners who said buying a home was more difficult than expected increased from 30% in 2022 to 44% in 2023 because of financial reasons such as exceeding their budget (45%), high interest rates (42%), and expensive home prices (42%).
    • More than half of buyers (53%) accepted loan terms with a higher-than-desired interest rate to secure a mortgage.
  • Nearly all recent home buyers (93%) compromised on their priorities, compared to 80% in 2022.
  • About 93% of home buyers and 95% of home sellers have regrets β€” up from 72% and 90% in 2022, respectively.
  • The percentage of homes that sold within one month decreased by half β€” from 55% in 2022 to 28% in 2023 β€” indicating a cooling market.
  • A majority of sellers (57%) made less than $50,000 on their home sale, and 1 in 14 (7%) actually lost money or broke even.
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Buyers Spent 23% More Than the National Average Price on Their Homes

Buyers who thought less competition for homes would lead to significant savings in 2023 were in for a rude awakening.

The sheer lack of homes for sale has kept prices inflated, and three-fourths of buyers (75%) had to pay more than the average price of $516,500 nationwide.

On average, buyers paid 23% more than the national average price and 31% more than the $500,156 they paid in 2022.

As Americans stretched their budgets to afford homes, more than half of all recent buyers (58%) and nearly two-thirds of first-time buyers (63%) admit they overpaid, with first-time buyers 11% more likely than repeat buyers to do so.

To afford such a big purchase, 78% of recent buyers had to co-purchase their home or share expenses with a spouse, family member, friend, or significant other. Just 22% of buyers are the sole homeowner and do not share expenses.

With home prices hovering near a record high, many buyers can't afford a traditional 20% down payment. In fact, more than half of buyers (55%) put down less than 20%.

More Than 1 in 3 Buyers Still Paid Over Asking Price for a Home

Buyers' purchasing power may be limited by high mortgage rates, but they're still willing to pay top dollar for the right property.

Although competition has eased nationwide, a surprising 38% of home buyers still paid over asking price for a home in 2023 β€” compared to 31% in 2022.

The puzzling increase could be driven by a greater share of first-time buyers offering over asking price in 2023. Compared to 2022, first-time buyers were 31% more likely to pay above asking price, whereas repeat buyers were just 17% more likely to pay above asking price.

As affordability concerns cause buyer demand to shift from expensive homes to homes in the lowest price tier β€” which typically attract new buyers β€” it's likely first-timers faced increased competition with repeat buyers and had to submit high offers to land a home.

Unfortunately for first-time buyers, homeowners who already have assets tend to get better deals. Repeat buyers are more likely to pay below asking price than above it, while the opposite is true for first-time buyers.

This wasn't always the case. In 2022, first-time and repeat buyers had the same likelihood of paying below asking price. Now, repeat buyers are 18% more likely than first-time buyers to pay below the list price.

It's possible that as buyers regain some bargaining power in the market, repeat buyers can leverage their experience and negotiation skills to make home buying more affordable.

Nearly 2 in 3 Homeowners Have Struggled to Pay Their Mortgage Since Purchasing a Home

Owning a home is considered an important part of the American dream, but many homeowners have realized it isn't the key to happiness β€” it's just another source of stress.

Approximately 59% of recent home buyers, including 66% of first-time buyers, say buying a home was more stressful than expected. Unfortunately, enduring the stress didn't translate into future happiness for a majority of buyers.

More than half of buyers (52%) say their overall happiness has not improved since purchasing a home, and 20% say it's actually gotten worse.

The initial joy of becoming a homeowner can fade quickly as unexpected costs β€” which surprised 26% of new buyers β€” strain buyers' tenuous financial situation. More than half (56%) have felt in over their heads financially since purchasing their home.

Additionally, more than 1 in 4 buyers (27%) say their overall financial situation has deteriorated since becoming homeowners, and nearly 2 in 3 (62%) have had difficulties paying their monthly mortgage on time β€” with first-time buyers 8% more likely than repeat buyers to struggle.

To maintain their lifestyle while paying their mortgage, 56% of recent buyers have taken on additional non-mortgage debt since buying a home.

First-time buyers particularly struggle to maintain their standard of living after spending more on their home purchase than other buyers. Compared to repeat buyers, first-timers were 11% more likely to borrow additional money.

It's hardly surprising that home buyers are concerned about how much they owe, with 29% saying their debt burden has gotten worse since purchasing their home.

Americans want more money to rebuild their savings (27%), pay off remaining debts (25%), and contribute toward retirement (24%). But as they struggle to afford their homes and manage their debt, it makes achieving other financial goals more difficult.

Purchasing a Home Was Harder Than Expected for Nearly Half of Home Buyers

Although house hunters encountered less competition in the past year, first-time and repeat buyers generally believe it's getting more difficult to purchase a home.

About 44% of buyers say purchasing a home in 2023 was harder than expected β€” a significant increase from the 33% who said the same in 2022.

It's possible 2022 buyers were more aware of the challenges they'd confront during their house hunt, whereas 2023 buyers experienced new, unforeseen hardships as the market shifted.

Buyers generally found the home-buying process more difficult than they expected because of financial reasons, such as:

  • Exceeding their budget (45%)
  • High interest rates (42%)
  • Expensive home prices (42%)

Americans are specifically reeling from the impact of rising interest rates.

More than half of buyers (53%) accepted loan terms with a higher-than-desired interest rate to secure a mortgage, with first-time buyers 11% more likely than repeat buyers to take on the additional expense.

93% of Recent Home Buyers Compromised on Their Priorities

Buyers persevered through a challenging market, but few came away with their dream home. Overall, 93% of buyers compromised on their priorities β€” compared to 80% in 2022.

First-time buyers found it especially difficult to achieve their priorities, with nearly 1 in 4 (24%) saying they were surprised by how much they had to compromise.

Although 1 in 3 buyers (32%) wanted to find an affordable home, it was the most-compromised priority among house hunters. Of those who said it was a priority, about one-third (34%) had to offer a higher price than expected.

After price, buyers were most likely to sacrifice a short commute.

Americans recognized the upside of not commuting during the pandemic. As many return to the office, few want to live in a home where they'll have to fight traffic every day. In fact, finding a home with a short commute was the most common priority among buyers.

Nearly half of buyers (45%) wanted to find a home within close proximity to work, but 34% had to settle for a home that was farther away.

After surrendering their top priority, home buyers were less inclined to give up other essential wants.

The second- and third-most important priorities were a desirable location (41%) and a good school district (36%). Consequently, those were some of least-compromised priorities, with just 21% settling for a worse location and 22% settling for a worse school district.

Buyers who prioritized a move-in ready home were the least likely to compromise. Of the 24% who wanted to buy a home that didn't need renovations, just 1 in 5 (20%) bought a fixer-upper.

Fixer-uppers might seem like a bargain for cash-strapped buyers, but they can be costly to repair and maintain. The average homeowner spent a staggering $4,283 on maintenance last year, while 1 in 6 spent more than $10,000.

Of those who bought a fixer-upper, more than 1 in 4 (26%) regret it.

Sacrifices are often necessary to land a home, but 35% of buyers aren't satisfied with the home they purchased.

Repeat homeowners walked away from their home-buying experience with slightly more satisfaction than new buyers.

With profit from their previous home sale to make deals happen, repeat buyers (10%) were 2x more likely than first-time buyers (5%) to not compromise their priorities β€” likely leading to higher satisfaction rates.

Nearly All Recent Home Buyers Have Regrets

Compromising on their priorities inevitably led to regret among homeowners.

As more homeowners compromise in 2023, more also experience buyer's remorse. About 93% of recent buyers have regrets about their home-buying experience β€” a 29% increase from the 72% who said the same in 2022.

Repeat buyers, who are less likely to compromise, naturally have fewer regrets. Once again, repeat buyers (10%) are 2x as likely as first-time buyers (5%) to say they don't have regrets.

Purchasing a home that requires too much maintenance is the most common regret β€” especially when 39% of buyers said the seller was not upfront about how much maintenance the home would need.

One-third of buyers (33%) feel remorse about the upkeep their home needs, compared to 25% in 2022. As home buyers bust their budgets to pay for more expensive homes in 2023, they likely have little left over for home maintenance and repairs.

The second most common regret among recent buyers is buying too quickly (30%). Buyers can take more time to consider their decision as competition wanes, but it may be difficult to put into practice after years of lightning-fast home sales.

House hunters may not have to compete as much, but they must still contend with high prices. Buyers report spending more on their home purchase this year, but many have seemingly resigned themselves to the likelihood that they will overspend.

The percentage of buyers who regret overspending dropped from 30% in 2022 to 28% in 2023.

Listings Have Increased, but Half of Buyers Searched 3 Months or More for a Home

Sellers may be losing their grip on the housing market, but they still hold an ace in their hand. The number of U.S. home listings remains painfully low, despite rising 63% after bottoming out in February 2022.

Many of the new listings, however, aren't quality homes that attract buyers. To the shock of many buyers, there's still competition for homes in good condition that are fairly priced.

About 24% of buyers were surprised by how much competitiveness still exists in the market, and 22% were surprised by how long it took them to find a home.

Nearly 2 in 3 buyers (61%) say searching for a home took longer than expected, with first-time buyers 12% more likely than repeat buyers to underestimate their home-search timeline.

Three-fourths of buyers (76%) searched for at least one month before finding their home, while nearly half (47%) looked for at least three months.

While house hunting, 95% of Americans made more than one offer. Nearly two-thirds of buyers (62%) made five or more offers, and 1 in 8 (12%) made 10 or more.

New buyers were more likely to experience rejection. They submitted at least five offers 10% more often than repeat buyers, and they submitted at least 10 offers 2% more often.

As a result, 1 in 5 (19%) first-time buyers were surprised by how many offers they had to make.

44% of Sellers Aren't Satisfied With How Quickly Their Home Sold

Just two years ago, sellers nationwide received multiple contingency-free offers over asking price within days of their homes hitting the market.

Today, the heyday for sellers has stalled as high mortgage rates and expensive home prices suppress buyer demand.

Some recent sellers weren't quite ready to accept that the market has shifted. About 40% say home selling was more difficult than they expected β€” up from 31% who said the same in 2022.

One of the greatest hurdles homeowners face in 2023 is selling their home in a timely manner. Over the past year, the percentage of homes that sold within one month decreased by half β€” from 55% in 2022 to 28% in 2023.

Homes that sold within one week also dropped by more than half β€” from 20% to 8% β€” while homes that sold in less than one day decreased from 8% to 4%.

Meanwhile, the number of homes that sat on the market for six months or more increased 60% from 5% in 2022 to 8% in 2023.

With homes no longer flying off the market, it's no wonder 44% of sellers aren't satisfied with how quickly their home sold.

1 in 3 Sellers Aren't Satisfied With the Profit They Made From Their Sale

Buyers are no longer able to overpay for homes, prompting sellers to set their initial asking price more in line with buyers' expectations.

Still, home prices remain out of reach for most buyers, and some sellers have to lower their price again after listing. In March 2023, the percentage of sellers who reduced their asking price rose to about 13% β€” more than double the percentage in March 2022.

As a result, sellers no longer reap excessive profits, and more than 1 in 3 (38%) aren't satisfied with the money they made on their home sale.

A majority of sellers (57%) made less than $50,000. What's more, about 1 in 4 sellers (22%) made less than $10,000 on their sale, including 1 in 14 (7%) who actually lost money or broke even.

95% of Sellers Regret Some Aspect of Their Home Sale

Today's sellers have to compromise to make deals happen, but doing so often leads to regret. About 95% of sellers have regrets about their home-selling experience, up from 90% in 2022.

The most common regret is paying too much in Realtor commission, with 28% of sellers saying the rate is too high. Just 20% of sellers said the same in 2022, when homeowners making big bucks off their sale could justify paying additional fees for an agent's services.

Nearly 1 in 5 sellers (19%) regret that their home didn't sell for enough money. As profit margins shrink, homeowners are looking for ways to save money by selling with a discount real estate agent or without an agent at all.

About 1 in 5 sellers (18%) wish they sold for sale by owner. Selling FSBO is a lot of work, but it may appeal to the 56% of sellers who think their agent cared more about making a deal than their clients' best interests.

Overall, sellers are reluctant to relinquish any of the leverage they've enjoyed over the past two years β€” whether to agents or buyers.

Sellers have become accustomed to desperate buyers acquiescing to their demands to win homes in an ultra competitive market. As interest rates rise and buyer demand wanes, sellers need to sweeten the deal for apprehensive buyers.

However, more than 1 in 4 sellers (26%) regret making too many concessions, such as paying the buyer's closing costs or offering to make expensive repairs.

With many new hardships in today's market, homeowners who failed to capitalize on the extreme seller's market are likely to feel remorse. About 19% of sellers regret waiting to list their home, and 21% regret how long their home sat on the market.

Methodology

The proprietary data featured in this study comes from an online survey commissioned by Semya-Moya. One thousand Americans who purchased a home in 2022 or 2023 were surveyed April 12-13, 2023. Respondents answered up to 21 questions regarding their recent home purchase, previous home sales, and views on buying and selling homes.

About Clever

Since 2017, Semya-Moya has been on a mission to make selling or buying a home easier and more affordable for everyone. 12 million annual readers rely on Clever's library of educational content and data-driven research to make smarter real estate decisionsβ€”and to date, Clever has helped consumers save more than $160 million on realtor fees. Clever's research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more.

More Research From Clever

Hidden Costs, Buyer's Remorse: The True Cost of Homeownership (2022 Data)

The true cost of owning a house surprises most homeowners, stoking surging rates of buyer's remorse, according to a 2022 survey of 1,000 homeowners. Read more.

Role of the Realtor in 2022: Expectations and Misconceptions

With demand for homes in overdrive, Americans are moving up selling plans to cash in on high sale prices. To make the most of the market, they're turning to realtors and AI to find buyers fast in case the window for unprecedented profit slams shut.

2022 Data: 90% of Recent Home Sellers Have Regrets, Despite Hot Market

Selling a home was easy for most Americans in 2021, but as interest rates rise, 1 in 3 sellers say it's no longer a good time to sell. Learn how home sellers are adapting to worsening market conditions.

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The Best Low Commission Realtors (2023 Broker Rankings)

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FAQs

What is the average number of offers on a house?

While searching for a home in 2022 and 2023, 95% of Americans made more than one offer. Nearly two-thirds of recent home buyers (62%) made five or more offers, and 1 in 8 (12%) made 10 or more offers. Learn more.

Should you buy a house now?

More than half of Americans (53%) think it's a bad time to buy a house. In fact, 44% of buyers in 2023 found the home-search process harder than expected β€” up from 33% in 2022. Financial hardships β€” such as exceeding their budget (45%), high interest rates (42%), and expensive homes (42%) β€” made it especially difficult for buyers. Learn more.

Is it a buyer's or seller's market?

It's a nobody's market. About half of Americans think it's a bad time to sell a home (51%) and an even worse time to buy (53%). Learn more.

The post American Home Buyer and Seller Report: 2023 Edition appeared first on Semya-Moya.

]]> 20 Affordable Places That Will Pay You Thousands to Move There https://semya-moya.ru/moving/20-affordable-places-that-will-pay-you-to-move-there/ Fri, 07 Apr 2023 00:17:38 +0000 https://semya-moya.ru/20-affordable-places-that-will-pay-you-to-move-there/ Working Americans looking to trade urban areas for a slower pace of life will find that many cities offer a more affordable cost of living.

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]]> 20 Places That Will Pay You to Move There

It pays to live in rural America. Across the country, small towns fighting brain drain and dwindling populations are paying workers thousands of dollars to bring their talents to the community.

With inflation near a 40-year high, incentives in the form of cash, housing reimbursement, student loan assistance, and other community perks are hard for many workers to refuse β€” especially when remote positions make it possible to work from anywhere.

Working Americans looking to trade bustling urban areas for a slower pace of life will find that many of these cities offer plenty of economic opportunities, cheaper real estate values, and an affordable cost of living.

If you're ready to sell your house and get paid to move, here are 20 cities and states to consider.

>> TIRED OF BAD MOVES? Check out the best moving companies in your area and get free quotes.

1. Topeka, KS

Kansas may not seem like the most exciting place to live, but local residents know there's no place like home. The state's capital, Topeka, is home to sports complexes, a flourishing arts district, and recreational activities along the city's riverfront.

If you choose this thriving city as your new home, you could receive up to $15,000 through the Choose Topeka program, which targets remote and on-site employees who rent or purchase a home in Shawnee County.

Remote workers are eligible for $5,000 total for renting and $10,000 for purchasing a home. On-site employees will receive $10,000 for renting and $15,000 for buying a home in their first year.

2. Tulsa, OK

Life for digital nomads in Tulsa is more than just OK. Remote workers who currently live outside the state will receive $10,000 to move to the community. The grant from Tulsa Remote is paid in a monthly stipend with the remainder coming at the end of the first year.

In addition to relocation expenses, the program provides recipients with a 36-month membership to a downtown coworking space and regular community-building events.

3. The Shoals, AL

Get $10,000 to bring your remote job to this picturesque community in northwest Alabama. Applicants to the Remote Shoals program will receive 25% of the fund upfront to help them relocate and get settled in their new community. Out-of-towners will be pleasantly surprised to find that real estate is much cheaper than nearby metros such as Nashville, which costs 52% more.

Another 25% of the fund will be distributed after the first six months, with the remaining 50% coming at the end of the first year. By then, program participants will have had plenty of time to explore The Shoals' many nature preserves and rich music history. The community is home to FAME Recording Studios, where Aretha Franklin, The Rolling Stones, and Bob Dylan cut hit records.

4. Tucson, AZ

Tucson has more than 350 days of sunshine each year, but that's just one of the many reasons remote workers are flocking to the Old Pueblo. Tucson is inviting national talent to call this quirky and affordable city home with $9,000 in benefits from the Remote Tucson initiative.

The benefits package includes $1,000 for relocation expenses, as well as $1,500 in hotel and Airbnb credits to use as you get on your feet. The program is open to renters and homeowners, with the latter receiving a complimentary home warranty and closing cost assistance.

>> TIRED OF COSTLY APPLIANCE REPAIRS? Check out these top home warranty companies today

Although Remote Tucson doesn't offer a large sum for relocation expenses, it does provide soft perks to introduce new residents to the community. Workers who participate in the program will receive a Tucson Attractions Passport, a trolley tour, tickets to the local planetarium, and a gift basket of local goods.

5. Bloomington, IN

Bloomington is so confident you'll love it there, the city isn't luring remote workers with cash. Instead, it's offering perks valued at more than $2,000 to help them get plugged in to the community.

Bloomington Remote provides employees who move from out of state a three-year membership to prime downtown coworking space, where it hosts monthly remote worker meetups and happy hours with community leaders.

Participants will also receive special credit card and loan deals, and they'll be paired with a Bloomington ambassador who can provide all-important recommendations on the best mechanics, hair stylists, and babysitters in town.

6. Newton, IA

Newton may not seem like it boasts an abundance of opportunities, but it's located in a land overflowing with milk (and a moderate amount of honey). Iowa is, after all, one of the top dairy-producing states, with a dairy farm located on the outskirts of this small farming community.

Those who want to live a quiet life off the land will find Newton an affordable place to raise their families. Housing in Newton costs approximately 75% of the U.S. average, meaning you'll get more house for your dollar.

Newton's moving initiative aims to develop a growing population by ensuring readily available housing, which is difficult to find amid the country's housing shortage. When you buy or build a new home in Newton, you'll receive up to $10,000, plus a welcome package with discounts at local shops and restaurants β€” valued at $2,500.

If you use a discount real estate agent, you'll have even more discretionary income to spend on family friendly activities, such as a visit to the dairy farm, the Iowa Speedway, or the Newton Arboretum and Botanical Garden.

>> GET A FULL-SERVICE AGENT AT A 1% COMMISSION. Get personalized agent matches today from Semya-Moya with no obligation.

7. Baltimore, MD

Wake up every day singing "Good Morning Baltimore" from your new home. A few lucky home buyers may even win $5,000 in forgivable loans to help with the purchase.

The money comes from a local nonprofit that wants local residents and those moving from out of stay to buy into all that the city has to offer, including its famous Berger Cookies and championship-winning sports teams.

The Buying Into Baltimore program is open to applicants from any location, but it does require them to earn a homeownership counseling certificate and attend one of its trolley tour events. The tour allows participants to visit homes for sale, explore different neighborhoods, and connect with real estate professionals. After the tour, they can enter a lottery that will determine the winners.

8. Charleston, WV

The population of West Virginia is expected to decrease between 2022 and 2027, especially among young working adults. In the capital city, a relocation incentive program aims to reverse that trend.

Charleston Roots is open to anyone who lives at least 50 miles outside the city and is willing to relocate to the capital for a local or remote job. Those selected for the program will receive $5,000 in relocation credit and $500 for each additional person they refer.

Whether you settle downtown or in a historic neighborhood, Charleston offers plenty of outdoor attractions and big-city amenities, such as diverse dining and a thriving art scene, without the traffic and price tag of larger metros.

9. Stillwater, OK

Missing your college days? Work remotely in Stillwater, home to Oklahoma State University and one of America's best college towns. The city is pitching itself to digital nomads with a $5,000 incentive for first-time Stillwater home buyers and $300 toward closing costs.

In addition, recipients will receive free coffee for a year, a month of free martial arts classes, and free tickets to concerts and music festivals that highlight the city's heritage as the birthplace of Red Dirt country music.

Stillwater's music scene is surprisingly top-notch, launching bands such as the Red Dirt Rangers and The All-American Rejects. It's also the birthplace of A-list actor James Marsden and professional baseball player Matt Holliday.

10. Hamilton, OH

Although President Joe Biden's student loan forgiveness plan is on hold, the city of Hamilton is attracting recent college grads and young professionals with funds to pay down student loans.

Through the Talent Attraction Program, recipients who relocate to Hamilton will receive $300 every month until they've reached up to $10,000. To apply, applicants must live outside Hamilton and have graduated with their degree in the past seven years.

11. Natchez, MS

As part of its economic recovery from the pandemic, Natchez wants to welcome digital nomads with true Southern hospitality by providing relocation incentives through its Shift South program.

To qualify, applicants must purchase a home worth at least $150,000 within city limits and work remotely for an employer outside the region. Those selected to the program will receive about $6,000 in benefits β€” $2,500 upfront to help with relocation costs and then $300 for the next 12 months.

>> GET THE FACTS BEFORE YOU BUY. Download Semya-Moya's free home-buying guide and get weekly tips.

Located along the western bank of the Mississippi River, this town of about 15,000 people is attractive not only for its low cost of living but also for its charming Southern architecture, old river taverns, downtown boutiques, and unspoiled recreational areas.

So far, 24 of the original 30 spots for the program have been filled, but the city is budgeting for more.

12. Owensboro, KY

Fall in love with bluegrass and bourbon in this northwestern Kentucky town along the Ohio River. The city's Grow the Boro initiative is designed to attract remote workers to the area by offsetting relocation expenses and helping newcomers connect with the local community.

Remote workers who are selected to the program will receive a $5,000 stipend to cover moving expenses and nearly a dozen other soft perks, such as a gym membership and free coffee for a year.

Country music lovers will particularly enjoy free tickets to the ROMP bluegrass festival, free tickets to the Bluegrass Music Hall of Fame, free dance lessons, and free banjo or fiddle lessons.

13. Morgantown, WV

Take those country roads to your new home in West Virginia. For outdoor enthusiasts, the state is the "almost heaven" John Denver sang about in his 1971 hit. Through the Ascend WV program, new residents will receive a year of free recreational activities, such as rock climbing and white water rafting, as well as free gear rental.

More importantly, program recipients who move to West Virginia will receive $12,000 to use however they see fit, whether that's buying a home in a mountain town or a new car for scenic drives around the state. The money will be paid in two payments β€” $10,000 the first year and an additional $2,000 the second year.

The program is open to remote workers who currently live outside of West Virginia and are willing to settle in one of three featured communities: Morgantown, home to the University of West Virginia; the Greenbrier Valley; or the Eastern Panhandle.

14. West Lafayette, IN

If you can work from anywhere, why not work at one of the most prestigious research institutes in the country? A new Purdue University program hopes to attract remote workers to West Lafayette with $4,000 in cash relocation stipends, a $1,000 dining credit, access to university libraries, free public transportation, and other housing and continuing education discounts.

Through the Work From Purdue initiative, out-of-state remote workers must relocate to the Discovery Park District and commit to living in West Lafayette for at least one year. The college town is buzzing with innovation, making it an ideal place to connect with the brightest minds in tech, art, and business from around the world.

15. Honolulu, HI

With beautiful beaches, lush landscapes, and stunning sunsets, do you really need another reason to move to Hawaii? If living and working in paradise is tempting but you aren't quite ready to move from the mainland, you can get a taste of island life through the Movers and Shakas program.

Applicants from the continental U.S. temporarily relocate for 30 days to the island, where they volunteer at local nonprofits and work to diversify and rebuild Hawaii's economy after the pandemic. In exchange, they receive free round-trip airfare, discounted hotel stays, co-working space, and other perks.

After two successful cohorts, Movers and Shakas is launching a second free program to help new residents and returning kama’āina transition to Hawaiian life.

16. Ketchikan, Alaska

If you can bear the cold, Alaska will pay you to live there through its Permanent Fund Dividend after one year of residency. The amount fluctuates each year, but in 2022, the dividend was $2,622 per person β€” the highest amount on record.

That may not be enough to inspire you to move to a state with sub-zero temperatures and near total darkness for months of the year. But if you dream of exploring the Last Frontier, Alaska offers rugged landscapes, including the highest peak in North America, as well as great views of the Northern Lights.

Although the fund is available for residents of any Alaskan city, the Choose Ketchikan program sweetens the pot with three months of free fiber optic internet. Applications are accepted on a rolling basis until 15 slots have been filled per year.

17. Chattanooga, TN

These days, geeks are cool, and they're helping build cities such as Seattle and San Jose into wealthy tech hubs. Few people outside the mountain town of Chattanooga would describe it as a savvy tech center, but this southeast Tennessee city has earned the nickname "Gig City" with the fastest broadband in the U.S.

To nurture and develop its tech scene, Chattanooga will pay computer developers $10,000 to purchase a home in a historic neighborhood through the city's GeekMove program β€” its real name. Although barriers to homeownership remain high, the money will go a lot farther in Chattanooga than it will in Seattle and other tech centers.

To be eligible for the program, "professional geeks" must currently live at least 50 miles outside Chattanooga and be willing to participate in programming events.

18. Lincoln, KS

The town that went viral in early 2022 for giving away a free historic home to anyone who was willing to move and renovate it is taking additional measures to attract talent to the community.

Remote workers who live outside Kansas are eligible for $5,000 in relocation assistance and will receive a free day trip with the Post Rock Mountain Biking Club, as well as a dozen farm-fresh eggs every month for a year.

Lincoln also offers new residents free land to build their dream home among the rolling hills of north central Kansas.

19. Vermont

Vermont has the fourth-largest labor shortage in the country, and the state government is paying workers to fill much-needed positions. The Worker Relocation Incentive Program helps subsidize relocation expenses, such as hiring a moving company or paying a down payment on a house, through a grant of up to $7,500.

The program targets employees who are hired to work a local job in Vermont or those who become permanent residents while working remotely for an out-of-state employer. In conjunction with the state, the Vermont Welcome Wagon aims to retain top talent by helping them connect to the local community.

20. Maine

Student debt in the U.S. totals nearly $1.8 trillion, with the average student owing $36,510. For many borrowers, it can take years to repay, but those who move to Maine may be able to pay it off faster through the Student Loan Repayment Tax Credit.

Any college degree holder who pays taxes in Maine and makes student loan payments is eligible for a deduction of up to $2,500 per year with a lifetime cap of $25,000.

Besides helping you get out of debt, there's plenty to love about Maine. Of course there's the vibrant fall foliage at Acadia National Park, but the state also has more than 3,500 miles of gorgeous coastline with amazing beaches and world-renowned seafood.

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