[5-DayForum] High bids in a down market

[Steve Ehlers]

Bill,

No from my end.  Only ones I know of are those folks on the east coast of  FL pitching short sales and turning the properties around as quick as possible - Fort Lauderdale area I believe.

Steve
  ----- Original Message ----- 
  From: Bill Effros 
  To: How To Sell Your Home in 5-Days 
  Sent: Friday, August 03, 2007 10:50 AM
  Subject: Re: [5-DayForum] High bids in a down market


  Steve,

  Did you use postcards?

  How do you feel they worked for you?

  We get a lot of that kind of stuff around here.  I always thought it was more to justify the six digit commissions, and to massage the egos of wealthy homeowners who think their homes are worth more than anyone can get for them, than it was a successful selling technique.  Has your experience been different?

  I've attached one sent to me.  It was sent to thousands of other people over an 18 month period without success.  The owner sent this one to me after selling his home in five days.  He still had thousands left.  (The home was sold to a local who had seen it before with a broker.  The local offered 33% more than his previous "final offer".)

  Bill Effros



  Steve Ehlers wrote: 
    Bill can weigh-in on this one:

    One method that has gained headway in let's call it non-traditional forms of advertising 
    in the last couple years are the single full of color postcard or large postcard type mailers.

    I noticed that the above method combined with many of the 5-Day principles are being used
    with success by some individuals and companies buying properties as "short sales" 
    and turning them around for quick sales, particularly on the east coast of FL.

    I'll leave it at that.

    Steve
    Cape Coral, FL 
      ----- Original Message ----- 
      From: Mark Conway 
      To: 5-Day Forum 5-Day Forum 
      Sent: Thursday, August 02, 2007 12:26 AM
      Subject: [5-DayForum] High bids in a down market


      Folks,

      From our perspective in mid-Michigan, at least, Bill keeps stressing a very important point. Two years ago, comparable sales of homes in my area would have supported a price in the range of $150,000-160,000 for our home. Twenty-four months later, we were completely satisfied with $136,500 as our highest bid in the round-robin. Given current market conditions, it's a realistic expectation that prices really have fallen from their peaks. If the goal is to sell promptly at current market values and not an idealized notion of what your home ought to sell for, then the 5-Day Method represents an opportunity to get the job done. And as we've all seen on this forum, effective advertising is the whole game. In some locations it seems that the best combination of advertising to reach the three real buyers sought is still somewhat elusive. We tried something a little different and got satisfying results -- perhaps a unique solution for a unique situation.

      In resistant and tough markets, where do home contractors advertise to get the attention of homeowners who are doing serious work on their homes as upgrades in preparation for selling them? Those might be the same folks who'd like to leave some of the issues associated with their aging homes behind and move into someplace appealing to them in other ways? A question to ask might be: What characteristics do serious home buyers have in common with other groups who are target markets for advertising of small businesses, and what kinds of effective and, perhaps, non-traditional advertising do they do that 5-Day sellers could use successfully, too? It's just something to think about.

      Regards,

      Mark Conway


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