Web site helps owners price homes for resale

ForSaleByOwner.com has launched a new property pricing report system that provides data on 95 percent of all U.S. homes, according to officials of the Web site.

The new system offers a home valuation tool that, combined with other ForSaleByOwner.com resources, enables consumers to more easily sell and buy homes without paying commission, said Greg Healy, vice president of operations of ForSaleByOwner.com. With price information on 95 percent of American homes, the company offers more data than any other real estate Web site, according to Healy.

"We are pleased to offer our customers this trusted, professional resource that will help them accurately price their home," Healy said.

"We believe an increasing number of consumers are seeking the benefits that come from independently selling their home, and the availability of this resource on ForSaleByOwner.com will provide them with the confidence to do so," he said.

"This new system is another product of our commitment to provide consumers with a complete package of all the tools, guidance and help they need to sell and buy homes without paying commissions," he said.

To provide customers with the largest database available, ForSaleByOwner.com partnered with HomeSmartReports.com, a provider of real estate property information to real estate professionals, investors and consumers.

"Our modeling technology has been used by mortgage lenders for 10-plus years, unlike some of the newer entrants that provide property valuations," said Steve Morgan, senior vice president of HomeSmartReports.com.

"Our Automated Valuation Model home valuation reports are created from the largest real estate information database available anywhere, and we are excited about offering our service to home sellers and buyers on ForSaleByOwner.com."

Key data contained in the reports include comparable sales information, the property's last sale price and its assessed value. Reports will be provided free to all ForSaleByOwner.com customers who purchase an "until sold" listing package.

Customers who purchase the monthly package, as well as other visitors to ForSaleByOwner.com, can buy the home pricing reports for $8.99 to $16.95, Healy said.

"A recent study from Northwestern University found that 'for sale by owner' home sellers achieve the same sales price as homes listed with an agent. Our pricing reports will help customers with one of the most important parts of the selling process -- setting the price," Healy said.

Since 1999, according to Healy, ForSaleByOwner.com has saved home sellers more than $1 billion by providing Internet marketing services, real estate guidance and information, as well as live customer support.

ForSaleByOwner.com charges a fee ranging from $89 to $899 for its advertising and real estate resources, Healy said.

Prospective buyers may browse the ForSaleByOwner.com database at no charge, Healy said.

HomeSmartReports.com has been a national provider of property information reports since 2004. The stated goal of HomeSmartReports.com is to provide information that assists people in making more informed decisions about the real estate process.