The housing market had become victim to the current economic woes, and Charlotte, while isolated, is not immune. We have seen the increasing surplus of foreclosures, and many sellers are lowering prices in hopes of getting houses sold.
And what is happening? Houses are being sold! The housing market is an extraordinary thing. Sometimes it goes a little crazy--but it always comes back to reality, and that is what is happening now. In most cases, housing prices are reflecting the appropriate values of homes. That isn't to say that some people aren't losing their investments, it is just to say that many houses were previously sold for over their real value
When I sell a house I always want to get top dollar. But I also know that I have to price a house appropriately to get it sold. It has to be right for the neighborhood, the market, the seller and the house. Choosing the right price to list a home at is something that I take very seriously. There are so many more factors involved than just what the seller wants to get out of it!
The other thing that I have to do is find the right incentives to attract a buyer's attention, and make the sale more enticing. People by on price, they buy on value, they buy because they find a house that can be a home. But sometimes it really helps seal the deal if a house can be sold at its appropriate value (and not under-value a neighborhood) and some tantalizing extras are added in.
People will never buy a house they don't like because it comes with a brand new washing machine, but it may help differentiate one house from another in the final decision phase. Especially as we trudge through a slowed housing market, incentives do help make a sale into a bigger or nicer home more amenable to some buyers-and it helps the sellers get the house sold.
Here are a few of the incentives that may draw in new home buyers:
$7500 Rebate for 1st time homebuyers. (government incentive)
Gift Cards/Certificates for local stores, (i.e. gas, grocery, home improvement)
Landscaping Services
Housekeeping Services
Lowering Mortgage Points (Seller pays)
HOA fees
House Upgrades (Counter-tops, Carpets, etc.)
Are you a Realtor who has used unusual incentives to promote and sell a house?
Are you a buyer who would like to see some great incentives? If so, what would be of interest?
...if so I would love to hear from you. Please write me at rich@richferretti.com or comment below.
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