[5-DayForum] 2nd 5 day sale in Charlotte

[Glynn Pennington]

Rosemarie,
Thanks for posting. My wife Franci and I plan to do 5 day sales in Charlotte soon. You mention you attended 2 sales in Charlotte last 
weekend. What happened at the second one?

We will be selling lower priced houses, $90,000 to $150,000 that we have rehabbed. Any feedback or suggestions welcome.

Glynn
  ----- Original Message ----- 
  From: Rosemarie and Fred Belcher 
  To: How To Sell Your Home in 5-Days 
  Sent: Monday, November 12, 2007 6:45 AM
  Subject: [5-DayForum] 2nd 5 day sale in Charlotte


      Last weekend there were two 5 day sales in Charlotte. I went to both, to offer support! Someone I know from the real estate investors' club ran a sale on a house that was appraised recently at $340,000. The house is in a desirable part of Charlotte. He advertised at $149,900. He had insufficient calls on one weekend, so he ran it again. He had 60 calls. The bidding stopped at $205,000.  Since the mortgage is $270,000 he could not afford to sell to the highest bidder, even though that was the intent.
      I know you will say the market is bad, but Charlotte is one of the few places in the country where the market has not dropped lately - we are still growing here. Things are not moving quickly (that's why he ran a 5-day sale) but prices have not dropped the way they have in other places. 
      I have been encouraging this friend to do this and now I feel really bad that I have no good advice left - only sympathy! 
      Is there a big difference in results if the house is empty, or if it's an investor-owned property instead of the homeowner selling?
      He is too busy to write to the forum, but I will pass along any advice anyone can give.
      Thanks
      Rosemarie


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