[5-DayForum] HELP !!!

[Scott Ames]

"Thoughts???  Have we done the most idiotic thing possible?" 
   
  No.. I've done that by buying a vacation home in Florida in 2006 hoping that short term rental income would cover the expenses and hoping it would continue to go up in value. 
   
  My guess on your situation is that the people in question didn't run the 5 Day Ad according to the time tested methods outlined in the book. They fudged the price, who knows what they told bidders. They were not mentally ready to sell for the highest and best price and probably communicated it somehow thus making bidder skeptical. 
   
  I'm only guessing, but that could be the reason. Another thought, perhaps their house was only worth what the highest bid brought. I wonder how well they worked the round robin. A lot of unknown factors.
   
  I'll admit I have yet to complete my sale. I'm learning from the mistakes and successes of others here as well as the comments made by Bill. 
   
  I'm going forward to find out what happens. I figure I've got a lot of room to play with since I'm not paying a real estate commission. Only you can decide if you want to give it a whirl. If you do, don't to it half hearted. Be determined to sell it on Sunday and let everyone know it will be sold. If you can say that with conviction, you might just sour the milk.
   
   
   
  

Matt Thornsberry <matt.thornsberry at sbcglobal.net> wrote:
    Bill,
   
  I apologize for the possible length of this e-mail...
   
  I recently saw an ad in our local newspaper in which a 5-day sale was advertised.  I did a little investigating and long story short, was able to call and speak with the individuals that were using the 5 day method and that night was convinced by our conversation and bought the book.  
   
  They were having the sale the following weekend but decided to run their ad all week (Sun - Sun).  This ad was 2" by 2" and cost roughly $3,000 (Cleveland Plain Dealer).  They did not price the house for half of the amount as you suggest but still had, again according to the sellers, 200 people walk through but only 8 bidders.  The highest bid was the amount that they listed they would see it for before the ... "or best reasonable offer" phrase.  They didn't take it because they felt that their house was worth more.
   
  My wife and I are contemplating running a 5 day sale next weekend.  We've been getting things done around here to be ready but are unsure because of the shear cost of running an ad in the only large circulation newspaper in town.  The individuals down at the paper said that they are only able to print the ad as you suggest starting at 2" by 2" dimensions...  Sunday is arguably the best real estate ad day in our paper so I was considering running the ad this Sunday, and then Wednesday through Sunday next week if we do the ad.
   
  Oh yeah, and we're in the middle of building another house which is to be completed in a month.
   
  Thoughts???  Have we done the most idiotic thing possible?
   
  HELP !!!!!!!!!!!!!!!!!!!!!!
   
  Thanks in advance,
   
  Matt
   
   
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