We haven’t heard much about FSBOs lately, and the topic has been so little in the news that some of you may even be unfamiliar with the acronym: For Sale by Owner.
The recent inventory-short market that’s seen multiple offers would seem ideally suited to a FSBO flurry, but the pickings appear slim at ForSaleByOwner.com, one of the more popular FSBO advertising sites.
A FSBO listing at a property we featured five years ago closed early this month for $688,000, just above its 2008 purchase price of $680K. The 3-bedroom, 3-bath unit is in a renovated 2-flat at 1742 N Sedgwick in the Old Town Triangle. The other unit in the building was purchased for $520K in June of 2009 and resold in January of 2012 for $444,000.