Holiday Bargains

I've been reading in the paper and online about all of the creative deals being done by home buyers, especially those of existing homes. While in Phoenix recently I saw several $15-$25K new home purchase cash back offers. You buy the home and get a nice bonus toward closing costs or putting a pool in so that you can handle the 300 degree summers (OK, only 120+/ :-).

I've also been reading about several existing home buyers making offers that include everything from kitchenware, the Plasma TV, all the way up to complete home furnishing included in the already discounted (or not) offer.

With the Holidays here, the market over saturated and a lot of people selling who have wanted to get out of their homes before the New Year...it doesn't hurt to recommend to your client to consider a creative incentive to include with your listing. I would ask your seller directly, "how seriously do you want to sell and are you willing to accept offers?" Then have a creative session together to come up with a few incentive options to consider.

If the seller is an investor, unmotivated or simply just has the house on the market to see what they can get, chances are you're not going to get much play. On the other hand those that are in dire straights, one step from foreclosure or just want to get out of their current situation will usually work with you to meet half way or make some financial concessions that make the deal more attractive to the market.

A lot of people are hanging tough on their price right now, which is probably one of the biggest reasons the market is dropping somewhat slowly. Chances are most of the people in the market are going to stand firm so don't expect that everyone will be willing to get creative. What you can do is work with your clients that are looking to buy, determine if they're looking for a home or a deal of the century then find out the sellers situation and work accordingly. You may consider approaching FSBOs on behalf of your client that is looking for the “great” deal. Just remember it’s not always a good idea to get into the habit of making unrealistic lowball offers. Fill the seller in on your clients perfect scenario and see if there will be a fit. Don’t forget, price doesn’t have to be the only terms to be negotiated.

Serious sellers will hate the lowball offers, but you could make someone's day just by finding a buyer for their house and get your client a great deal at the same time. I’m sure your client would enjoy their new home with a new Plasma TV, furniture set or some other furnishings all wrapped up into the deal. If you find the right seller, your client could have a better Holiday or New Year present than they expected.

Happy Holidays,
Damien Zamora
myAgentPHONE™