Brainstorming ideas to help promote properties

[tomocox]

Originally Posted by Silverfall

There is little demand in my area. $50,000 homes are sitting too because we don't have enough investors to scoop those up. The local investors are a bit freaked out by the lack of activity and are being extra cautious with their purchases. You can sell homes here, just not in 60 days. 4-6 months is more realistic for a competitively priced home in my area.

I don't need to take a course in econ. Thanks for the condescending attitude though.

Silver, I apologize for sounding condescending; however, just read the post I have quoted above. The very first sentence is exactly what I am arguing. Stop and think about it. You have no sales because the price of the house (s) is out of balance with demand.

Yesterday, I advised a very wise lady to remove her $500,000 property from the market. Economically, she would be better off to mothball the property that to continue destroying it's value by a function known as shelf-life. She and her husband had attempted to downsize. They have a $200-250,000 house which they are living in which has current market value.

So their choice is to take less for their big house and continue to live in the small home (they are less than 1 mile apart), or to move back into the large home and sell the smaller home.

Let me ask you this question, imagine you are an auctioneer, at what price between $ 1.00 and the current list price of the home you are marketing would you personally purchase the house? I assure you that unless the house is environmentally dirty, you will pay at least one dollar. Now, if the general public knows of the auction, I assure you that another bidder will raise you at least $1.00. At the point where the next to last bidder drops out, you have found true market value.

As you assist sellers in pricing their homes, think as though you are going to buy this home yourself. (assuming your capital reserves are unlimited).