Hawaii foreclosure filings tripled last month amid the ongoing economic downturn, research firm RealtyTrac said Thursday.

There were 395 foreclosure filings in October, up from 131 the same month last year.

Hawaii foreclosure filings have sharply increased since July.

At first, most properties were foreclosed on people unable to make payments after interest rates rose on their hybrid and subprime loans.

That’s fewer than September’s record 594 filings. But Daren Blomquist, marketing and communications director for RealtyTrac, said local foreclosures are still rising, and the market could take months or even years to recover.

But now rising consumer costs, falling home values and growing unemployment are making it harder for a broader range of people to keep up with their mortgage payments.

Hawaii’s foreclosure rate, at one filing per 1,266 households, was higher than 29 other states, but was still better than the national average of one filing per 452 households.

When I started my current residential sales company some 11 years ago, I found that many potential buyers I met had to “sell their house first” and were not committed to a real estate agent, but were skeptical in listing with one.  I put my thinking cap on and decided to go after these “hard core” FSBO types and what I came up with was a “non-advertised” program to offer this type seller a “discount” in selling their home in exchange for capturing them as a Buyer’s Agent on their purchase.

As time went on, I changed my fee structure to $595 up front for either Option 1 or 2 and Option 2 was for 3% and I paid the Buyer Agent 2.4% and kept 6 tenth’s of a percent.  In fact, I recently did this on a $950,000 sale and my total commission was still $6,295, plus I sold my seller client another home and made $7,280.  I didn’t even use a sign or lockbox and did no advertising other than the internet.  I consider that a fair transaction for the work.  Oh…it also sold in 7 days of listing.

I called the program the Facilitator Service.  The way it worked was to assist or help facilitate the sale of a FSBO home seller in 2 stages I called “Options”.  For this service I charged a flat fee of $500.00 and no percentage commission.  But I was virtually assured in representing the FSBO as a Buyer for a purchase. At this point in time I used a 1-888 advertising number, so I designed a custom made FSBO sign using my 1-888 number that had a recorded message describing the home and price and if interested to call the seller direct at their desired number.  I stayed in the background as a “consultant” for the seller and when they got a good prospect that wanted to write an offer, all they had to do was call me and I would come over and help finish negotiate the purchase and write up the offer and have both parties sign.  I also explained all the real estate procedures and represented both buyer and seller.    That was Option 1.  Option 2 was subsequently stepping up and signing a regular listing agreement and putting the seller in the MLS system for 2.4% which was the average amount of commission a Buyer Agent was paid.  In this case I had to use my sign and lockbox and spend some time making agent appointments and at closing I got zero.

The way I use this program today is on a one-on-one selective basis.  I pick a specific FSBO or an expensive expired listing and offer the Facilitator Service.  If the sales amount is high enough and I’m assured to be a Buyer Agent for the seller, I’ll do a full blown effort to sell the home including heavy internet marketing an a Video Tour that I personally produce.  I don’t advertise this program otherwise and am not labeled as a “discount broker” because it’s not offered to anyone and I always pay the buyer agent the same amount they’d make on a regular full commission.

If anyone has any specific questions about this service, just enter a blog comment and I’ll be more than glad to respond.  Generally I’ll do about 10 of these a year on average and the great thing is that regardless whether the house ever sells or not, I still make $5.950.

One of the biggest advantages of selling by owner is that you can save money. As you may know, hiring a real estate agent to sell your home can cost you a lot of cash. In most cases, an agent is going to want at least 6 percent of the sale price. While this may not sound like a lot, go ahead and do the math. You will see that this can add up to quite a large sum if you end up selling your home for a lot of money. For this reason, more and more people are selling by owner. This is a great way to save money as long as you are willing to deal with all of the other details that go along with these transactions.

So how do you save money when selling by owner?

But before you get caught up in saving all this money, remember that you must also spend more of your own during the sales process. When you work with a real estate company they will take on the cost of printing flyers, putting your home in the paper, and much more. But when you are selling by owner, these are all expenses that you are responsible for. So while you will save money in the end, you need to make sure that you have enough cash to make it through the sales process. The good thing is that since there is no agent involved, you can make all the decisions as to what you are going to spend your money on.

As mentioned above, you will never have to give money to a real estate agent. Depending on how much you sell your home for, this could add up to quite a large amount of savings. At an average of 6 percent commission, a real estate agent will take $6,000 for every $100,000 that your home sells for. So if you have an average priced home, you can expect to give up approximately $10,000. It is safe to say that there are plenty of things that you could do with a large sum of money like that.

In the end, there is no denying the fact that selling by owner is a great way to save money. If you are going to be putting your home on the market, and want to maximize your profit, you need to consider selling on your own.

More For sale by owner articles and a lot of information about FSBO.

Here is a review of For sale by owner California website where you can find California FSBO listings, a lot of statistics of California towns and countries.

FSBOSellBuy.com is the is the world’s premier real estate site for buying and selling California homes without real estate agents. Whether you’re buying or selling a house, home, condo, apartment or rental property, FSBO Sell Buy .com can help make the real estate process easy and affordable.

Very userful design, google maps views of all the houses, a lot of photos of FSBO properties. There are about 6000 homes for sale by owner in fsbosellbuy.com database.

So, if you want to buy or sell your home FSBO in CA then use FSBOSELLBUY.COM resource.

Realtor Greg Yurkovic specializes in working with first-time home buyers. Yurkovic serves the West Valley as part of the Remax Sonoran Hills team.

Q: What are some of the biggest mistakes people make when trying to sell their home, and how can these mistakes be avoided?

A: Not using an agent is a big mistake. This may seem like I am trying to justify my job, however as an agent, the first place we look for our buyers is the Multiple Listing Service, which gives us access to every home for sale by an agent in Maricopa County. Properties that are “For Sale By Owners” are hard to find. With so much extra inventory, there is no interest for an agent to search FSBO properties.

Q: When do you predict the Valley’s housing market will rebound?

A: We are already starting to see an increase in sales in the $150,000 to $250,000 range. Some of these homes, if priced right, are off the market within 30 days. This is the first phase of a rippling effect that should help the market rebound during the summer months.

Q: When house hunters want a pool, which is best: purchasing a home that already has a pool or taking out another loan so they can install one themselves?

A: It’s much cheaper to repair and resurface an existing pool than build a new one. The down side is that obtaining loans for this kind of home improvement can be difficult. My advice is to find a home with a pool that is in good enough condition to last you a couple of years before any major maintenance is necessary. A good pool-repair professional can help guide a home buyer through this decision prior to purchase.

You’ve found the perfect home. The only problem is it’s for sale by owner, and you’re not sure where to start. Possibly you have heard horror stories about homes bought directly from the owner. Unfortunately many of them may be true.

There have been many buyers who have found out too late about problems with a home, or incorrectly negotiated the terms of the contracts. The result of which, costs the buyer even more money.

With the right steps, however, a FSBO home doesn’t need to be a scary prospect. There are simple methods that you can use to protect yourself (and your money).

Consider a Buyer’s Agent

Before we get into tips for negotiating alone here is something to consider.

Call a real estate professional. Ask them to contact the seller for you. Most real estate agents will do this at a reduced commission. In many cases you can negotiate that fee into the contract.

Without professionals involved you have two parties negotiating the terms, in an industry they may not know anything about. A buyer’s agent will not only make the whole transaction run more smoothly, they know the law concerning real estate and they can help you to protect yourself.

Tips for Negotiation

Negotiation can be one of the more stressful components of a FSBO purchase. Without the involvement of a third party you are dealing with the seller on a one-on-one basis. Since you both have a vested interest, in the price of the property (you want to pay less, the seller wants more), this phase of the purchase can get quite tense.

Here are a few considerations for the negotiation phase:

Ensure a Fair Price

The first thing you want to do is, ensure that the asking price is in line with what similar houses are selling for in the area. Since the seller isn’t a professional, it stands to reason that, they may not have correctly priced their property. Real estate professionals, the local newspaper, and the internet are all good places to start. Some real estate offices will
even provide an in-depth market analysis for an area (usually for a small fee).

Start Low with Your Offer: Since you don’t know what the seller really expects, start low! The only place they can go from there is up.

Negotiation Contingencies to Protect Yourself: Along with the price you should make protection a part of your negotiations. Ensure you allow for appraisals, home inspections, approval of the disclosures, and a contingency for insurability.

Leave Your Earnest Deposit with a Third Party: Instead of giving your deposit directly to the seller, use a lawyer, or an escrow service.

Full Disclosure, Really?

Most states have laws that say, a seller must disclose all known faults/issues with a property. The problem comes when the seller didn’t know about a problem (or their just dishonest). Be sure you hire a qualified inspector to look at the home. Your lawyer or local real estate office will be able to recommend one.

Real Estate Attorney

Last, but definitely not least, do not sign anything without a lawyer. Have them draw up the purchase contract. Work with your lawyer through-out the purchase. They know the laws, as they pertain to real estate. They can also help you to watch out for any caveats that might come back to haunt you.

SearchHomesOnTV.com announced that it will be airing its TV show in Europe. Programming will be aired on Visitors Network, ItsMyFaith, IndiePix, Hip Hop and the Comedy & Games channels. Those channels will air in Germany, France, Sweden, Austria, Luxembourg, Liechtenstein, the Alto Adige region of Italy, Serbia, Montenegro, Bosnia Herzegovina and Croatia with other European markets following in Q2 – 2008.

“We believe the level of interest in the European market place will be huge on two levels. Europeans have a curiosity in viewing the American life style, architecture and design. More importantly, the strength of the Euro has created an unprecedented investment opportunity; current exchange rates are basically allowing for a 50% discount when acquiring US property.” stated John Giaimo, president SearchHomesOnTVsm.

United States programming on DirecTV and syndication throughout Europe will increase the SearchHomesOnTVsm “world wide” exposure to well over 145 million households. All shows will be broadcast in English with Multilanguage subtitles added.

According to the company, SearchHomesOnTV.com is offering promotional pricing that includes the broadcasting of a 40 second commercial of a fsbo home for two weeks in the US and European markets for $149.00 (this is a limited time offer providing a $250 discount).

We take the business of selling our home as seriously as we do any other major investment ~ in fact, probably even more so because it is our most major investment. So the question comes up from a buyer (or possibly a realtor), ‘How did they arrive at their price?’. It is a valid question. We did hire several market analysts, and have continued to follow the market prices for homes that are comparable to ours.

We think you as the buyer would have the same questions before purchasing a home as we have. Most people have a list of their ‘must haves’ followed by their ‘wants’, and it likely includes items they do not want. These are good questions. Therefore, in order to do a market analysis of our property, you must ask yourself these questions. If you wish to live on a lot approaching a zero-lot line, that is great! This would not be the home for you, however. It also would not be a comparable comparison for pricing. For examples of homes that have similar sized lots that are also well-built homes, a neighborhood near our home you might look at for good comparison of pricing would be Quail Run. It is within a few miles of our home. No two homes are equal, but this is a neighborhood that will offer you a good analysis of pricing. We have done a lot of homework, and we know you want to do so also.

As Southern California sales have stalled and home prices have slumped, realty agents here have geared up to help sellers tap into this market of buyers who come with pockets full of cash. Some local agents have adapted their websites for foreign buyers by adding multiple language translation options. Others have joined professional organizations to give themselves an international reach. One local agent has even offered to reimburse buyer travel expenses should a sale close.

Foreigners purchase all types and sizes of properties; however, high-end estates, larger homes and condominiums in upscale areas are especially prized. These buyers also prefer properties that are bright, clean, ready to occupy and on large lots, experts say.

About one-quarter of agents surveyed in a National Assn. of Realtors study last year said their business with buyers who principally reside in another country had increased in the previous five years. California was second in popularity, accounting for 16% of international purchases in the U.S. Florida was tops.

Locally, real estate brokers report an influx of buyers from Europe, the Middle East, Asia and Latin America. Specific countries include Brazil, China, France, Germany, Italy, the Netherlands, the Philippines, Russia and Spain, as well as Canada and Mexico.

Desert and beachfront areas are both seeing their share of international shoppers seeking sunny vacation getaways.

The strength of foreign currencies against the U.S. dollar has been the “icing on the cake” of California’s appeal, said Greg Moesser, estates director at Prudential California Realty in Beverly Hills.

George Colombotos, a real estate investor and partner in Casa Grande Enterprises, a luxury home design-build firm in Cathedral City, wasn’t surprised when a Canadian couple made an all-cash offer to buy a Rancho Mirage property he’d listed with a local broker. Another Canadian couple had bought a similar home, also for cash, that Colombotos had listed with the same broker several months earlier.

Clear and comprehensive listing is the first introduction your prospective buyer will have for the property. The real estate listing should be complete and the facts contained in the listing should be accurate. The prospective buyer should find the listing easy to understand and tempting enough to make them motivated to learn more and come out to view the property. As technology moves forward with advances in print and the internet getting the attention of buyers can be an easier assignment.

Your real estate listing should not only be factual but honest. Many prospective buyers invest a lot of time and energy to get out and view properties. They are therefore not likely to appreciate finding that the home they see listed as lakefront property is actually overlooking the lake from a block away and has lake access. There really is a difference. The more inflated the claims, the less likely buyers will be willing to work with a property owner. Since buyers ultimately want to feel good about their purchase, it is better to be honest and show credibility than to be dishonest and run the risk of having no one to sell to. Plus in many areas it’s against the law not to disclose all the facts about the property.

How many times have you read a real estate listing with vital information left out? Basic things like number of bedrooms or the amount of property tax paid. On the other hand others put in such an excessive amount of information, or with nothing by abbreviations that the prospective buyer will just move on to the next listing. You can’t go wrong starting with the basics. Numbers of bedrooms, if raw land the zoning, size of the lot and so forth. Detail the properties most attractive selling points like large lot, or remodeled master suite or location. Color pictures always support the written real estate listing.

It’s widely known that you’ll make the sale sooner and closer to the asking price if a larger number of prospective buyers are motivated to take the next step and view the property. So with a proper balance of facts, technology and good old fashioned sales savvy will go a long way toward selling your property.

Online real estate listings are a great option to marketing a home. Visualization plays an extremely vital role when it comes to marketing a property and the internet is a perfect venue for creating stunning visual portfolios. The number of technological advances, such as the 360 degree camera shot, allows prospective buyers to pan around and see a property from every angle without ever having to leave the comfort of their home. This is a bonus for those who find themselves in need of a residence in an entirely different city or state. Properties with these types of listings are also likely to get a higher number of views as compared to the conventional real estate listing.