HARD TO SEE REALESTATE

[Fate]

Ok, first off I am a real estate agent and investor. I buy and sell homes for a living. As some of you know, the market sucks right now. Worse market in 25 years. Homes are sitting on the market. I am trying to get really creative to sell my homes. Wanted to think of some was to sell that are different than other homes on the market. Wanted to see of you guys had some ideas. I was thinking about offering insentives in homes not normally offered. I am rehabbing a home worth around $100,000 dollars and will be selling under value for around $95,000 and then was thinking of offering to pay first 3 months of their payments and maybe a cerificate towards the purchase of electonics or appliances for the home buyer.

Staying under $3,000 what would you guys think would be a good incentive to buy a house?

 

[CAT3]

When I bought my last house or two, I looked for new appliances, warranty on existing HVAC, small landscaping issues (adding a tree or rock garden etc), but with what your looking to do, hell I'd buy a house with those incentives...just not interested in the St.Louis area. Now if you talking about S. Az, parts of Georgia then I'd be there for ya! Good luck with it and please post up if you find any of the incentives working.

Charlie

 

[hionbusa]

The best incentives to buy are

LOW mortgage payments

NO or LOW closing cost .

 

[johnstein]

owner held morgages are a plus ? brings alot of people looking for houses who wouldnt normaly be able to buy .

 

[thepushercg]

one of the biggest things for 3000 would be to apply that to the closing cost.
you have good ideals allready , the second biggest would be to as you stated.
a certifcate to purchase appliances. that would go along ways for a new home buy.

 

[jjbusa]

damn you got me interested....

 

[trip]

There is a lender here in Los Angeles offering the three months free deal. I'm not too sure if it's working, but I hear it on the radio all the time.

People will fll for anything. Offer $3000.00 worth of Taco Bell and they'll buy.

Most are not too bright ya know

 

[Wag]

My opinion is that people buy the house that suits them. The problem people are having now, I believe, is they have a lot more choice and they simply will not "settle" for something they don't like. They know that even if they like a house, they can go look at fifty more then come back to the one they really like the best.

Which is to say that it's unlikely that you're going to sway people and make them change their mind. If they want a turnkey ready to move in today house, they have no interest in fixer-uppers. If they want a fixer-upper, they aren't going to be swayed by mint condition houses. You know the story!!!

UNLESS, they are already in the unfortunate position of having difficulty buying a house. The $3,000 incentive should be customizable. Maybe for one buyer, buying a point or two for them would do the trick. For another, moving out of a furnished apartment, he want's a gift cert to buy a washer/dryer/refrigerator. The list goes on.

As a salesman, you can tell pretty early on what's going to be the most likely incentive to get a buyer to buy one of the houses you have in your list book.

It's a tough market right now. I wish you the best.

--Wag--

 

[Fate]

(CAT3 @ Nov. 22 2006,20:08) When I bought my last house or two, I looked for new appliances, warranty on existing HVAC, small landscaping issues (adding a tree or rock garden etc), but with what your looking to do, hell I'd buy a house with those incentives...just not interested in the St.Louis area.  Now if you talking about S. Az, parts of Georgia then I'd be there for ya!  Good luck with it and please post up if you find any of the incentives working.

Charlie

We are already doing that.... We are looking for outside the box stuff.

 

[Fate]

(hionbusa @ Nov. 22 2006,20:22) The best incentives to buy are

LOW mortgage payments

NO or LOW closing cost .

That would be great but can't control the rates. We as agents or sellers do not have control over which mortgage company the buyer uses. If we do it can be construed as STEERING. My partner is a mortgage banker and we can finance at a discount rate, but cannot advertise that or it would be an insentive on the mortgage side and cause a steering problem. Darn state govermental rules!!!!

 

[Fate]

(johnstein @ Nov. 22 2006,20:31) owner held morgages  are a plus ?  brings  alot of people  looking for houses  who wouldnt normaly be able to  buy .

We offer that on alot of our rehabs. My buisness partner has some special programs where we can finance people that normally can not get a loan and advertise "owner financing" and can finance them in traditional ways most of the times.

 

[Fate]

(thepushercg @ Nov. 23 2006,08:30) one of the biggest things for 3000 would be to apply that to the closing cost.
you have good ideals allready , the second biggest would be to as you stated.
a certifcate to purchase  appliances. that would go along ways for a new home buy.

Almost every deal we have done so far has included closing costs we have paid. With lower priced homes like this one, it is typical. The market is slow for average to higher priced homes, but people wanting to buy with no money, well, they will always be there and will always be buying.

 

[Fate]

(trip @ Nov. 23 2006,13:10) There is a lender here in Los Angeles offering the three months free deal. I'm not too sure if it's working, but I hear it on the radio all the time.

People will fll for anything. Offer $3000.00 worth of Taco Bell and they'll buy.

Most are not too bright ya know

We are running an ad now for 3 months free financing!!!! I hope it works! The house we bought is in a neighborhood that has a new casino breaking ground with 350 million dollars being invested in a new mall, water park, 5,000 space parking lot, new bike trails, movie theaters, and a whole bunch more. Got on the ground floor in the area and me and my investors are talking about buying alot more homes there. Anyone who buys this home could live their a year and sell for a big profit. I am going to try to advertise that without making too many promises and getting myself in trouble. All the above mentioned is a guarantee though. I love St. Louis, lots of money for investors here. Looking to start buying in Florida too. While I was down there recently helping my grandparents out and getting them moved up here with me, I checked on some things going on around the a1a from Jacksonville to Miami.