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Sellers Offer Deals

(Prosperity is virtually impossible, at least from only a deal or two these days for sellers. The days when a seller could make a significant profit just by uttering the word “sale” are a distant memory.)

And many sellers are finding out that just being able to conduct a sale is a huge success in the current market.

So, the days of buyers competing for the same home have flipped 180 degrees as sellers are now going toe-to-toe with each other, begging buyers just to give them a chance. And how do you tempt someone to do something for you; give them stuff.

Kerry Sanders’ article, “Sweetening deals for ‘home sweet home’” published October 23, 2006 and posted on msnbc.msn.com, explains how sellers are offering some “sweet” housewarming gifts.

“‘Price Reduced’ — it's the sign of the times in real estate.”

“Jack Timmons knows the pain. His Fort Lauderdale home has been on the market for six months. Buy his house for $349,000 today? He'll throw in a new plasma flat-screen TV.”

“‘We didn't have to do this a year ago,’ says Timmons. ‘Nobody did.’”

All of the United States is experiencing the same thing. Homes that took four weeks on the active market last year are taking two to three times as long, now.

So, as an extra incentive to generate a sale, or at least some interest for the prospective buyer to notify friends, sellers are offering amazing gifts such as custom-built furniture, luxury automobiles or even use of a private jet.

“‘The buyers have to be very cautious when they look at these gimmicks out there, because a lot of them are gimmicks, to be honest with you,’ says Bruce Hersey with the EH Building Group in Port St. Lucie, Fla.”

Gimmick or not, paying face-value and probably even less for a house while receiving a couple free round trips along the West coast sounds like a good deal.

Sellers who are not resorting to these “sweet” incentives may still be able to generate a sale but they should be prepared to slash the price $20,000 or more. Did I write $20,000; well some sellers may have taken that reduction in a heartbeat.

“Byron Meo in Riverside, Calif., wanted $680,000 for his three-bedroom home. He got $200,000 less.”

“It was real disappointing,” Meo said.

As disappointing as it may be, the booming years (2000 to 2005) of the U.S. market wasn’t very kind to buyers who jumped in at the wrong time.

Just imagine if you purchased a home for $680,000 last year, there is a great possibility it was $250,000 cheaper in five years prior.

Buyers who were patient the last couple of years are being rewarded now and real estate experts say there are no signs of this new trend changing anytime soon.

"Jessica Moore in St. Lucie County, Fla., a single mother of two, bought her new home thanks to a five percent discount for all school teachers. ‘This is my house, this is the future site of my home,’ she says as she walks through a field where that home will be built. ‘I was happy, yeah!’”

For the first time in many years, buyers can finally enjoy the closing time when they sign final documents and walk into their “home, sweet home.”

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