Unless you have been living in the Batcave for the past year, you realize that the real estate market, in most cities has changed drastically.  Sellers who have tried traditional means to get their homes sold have started to explore "other" options.

Here locally, in Yachats, OR we have an essay contest that is still running (anyone want to win a very nice house in Yachats, OR), and I recently read this seller's creative idea.

Mary Umberger, a columnist for the Chicago Tribune, recently wrote this in her article dated April 13, 2008  titled "Motivated seller tosses out a lifeline"

" ...In the last couple of years, I've seen plenty of sellers try to entice buyers with attention-getting incentives. The "buy a house, get a big-screen TV/car/vacation time-share" freebies became ho-hum because they were ubiquitous.

Here's a new one: The owner of a house on 30 acres in Whitehall, Wis., has been trying to sell for two years, so now he's offering ... his life insurance. The Capital Times in Madison reports that Bob Fanning is offering to make the buyer of his home, listed at $498,900, the beneficiary of a 10-year, $500,000 term policy.

So, if Fanning, 69, dies in the next decade, the purchaser gets the payout (except in the case of homicide or suicide). Fanning has set up a trust to pay the premiums. "

I have to say that has to be one of the most creative ideas I have heard.   It should be noted that the policy does not cover murder or suicide...

 (c) Copyright, 2008. Melina Tomson, All Rights Reserved.   DO NOT COPY this without express written permission from the author.

If you are thinking about relocating to Salem-Keizer Metro area and need more information about what our city is like, please call or email me for more information.  If you are considering a purchase or sale of a home, I'd like to discuss your real estate needs with you.

Melina Tomson, MS 

call: 503-371-6515

email:  melina@tomsonburnham.com 

http://www.tomsonburnham.com