Community Corner
Homes on the Shelf May Be Great Investments
Area homes are just waiting to be scooped up by new owners — check out older listings for potential bargains.
In Donald Trump's 2004 book, Think Like a Billionaire, you'll find a brief chapter titled "How To Sell a House." The first paragraph reads:
"If you are selling your home and there is no or little activity, or activity but no offers, you should revisit the price. The real estate market is volatile, and prices change daily. I always keep in mind the saying 'Old listings, like old soldiers, never die – they just fade away' when it comes to pricing."
This week, we found nine area homes that have been on the market for some time, all for more than six months, some for a year or more. That's not unusual, particularly in an area such as ours, hard-hit by the economic downturns of the past few years. These homes could be great investments and perfect choices for the right buyer.
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The homes featured here are all priced within the $200,000 to $400,000. Although homes that have been on the market for many months may not have been priced competitively initially, the listing price has often been adjusted, and sellers are more motivated to make a sale happen.
Many of these homes are offered at well below their 2006-2007 assessed values. With some negotiation, a home buyer today has the potential to make a savvy real estate investment that even Trump would applaud.
