Last Friday, The Idaho Statesman ran a story that I'm sure most of you have either read or heard about by now. Entitled "Boise #10 For Falling Home Prices" it definitely was not the top ten list our fair city would want to be included in on a national scale. But, despite the bad news of the top two-thirds of the article, I found a gem near the bottom - a good marketing idea to consider using with some of your listings RIGHT NOW!
So, here it is. I've copied and pasted directly from the article:
The $8,000 federal tax incentive for first-time homebuyers that expires in April is motivating some buyers, but agents said they don't expect to see a dropoff after it ends.
"According to research by the National Association of Realtors, the top three reasons buyers gave for their primary reason to purchase a home are (1) desire to own a home, (2) job-related relocation, or (3) desire for a larger home," said agent Jill Giese of Keller Williams Realty in an e-mail. "I imagine this won't change after the tax credits expire."
She said now is a great time for owners to sell properties that aren't up for short sales because buyers who want to take advantage of the tax credits don't have time to go through the lengthy short-sale process.
" 'Equity' sellers have an advantage right now because of this," she said.
"I recently listed a great little house in West Boise for $125,000. All the competing properties were short sales. This property sold in three days for full price because it was one of the only ones in this price range and area that wasn't a short sale."
Read more: http://www.idahostatesman.com/2010/03/12/1114726/boise-no-10-for-falling-home-prices.html#ixzz0iGsfq7eE
So, the take-away is to use the expiring tax credit to your advantage in marketing listings of homes that are not short sales or foreclosures. A traditional seller has the ability to be far more nimble and speedy at making a decision to accept or reject an offer than a seller who's a bank.
Your Partner in Greater Success,
Bill Zimmerman
208-939-0002
www.ForIdahoRealtors.com
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