Going To Zero!

If you are searching for marketing secrets, you really have to look no further than the front page of the daily newspaper to get great ideas. Many times I will walk past the newspaper rack in hopes that nothing will catch my eye, and I can just continue on on by. But, more often than not, at least one headline jumps out at me and pulls me back, causing me to throw out another hard-earned dollar or two so that I can read the full story -- without having to look like a cheapskate standing there thumbing through the pages.

This morning there was another blatant headline in big bold letters that I just couldn't resist: "HOME PRICES KEEP ON DROPPING." It seems like I've seen that one quite often lately, and then the next day there is a another one that says that sales have increased. I really never know what to believe any longer when it comes to real estate news, so most of it is probably best ignored.

But what really caught my eye on this article today was the fact that the Twin Cities "saw the biggest plunge among the largest 20 U.S. Cities"....and there is "no relief in sight!" Wow, does that mean we will keep going down in value until there is no value at all? We will certainly have to raise our commisssions if we hope to make any money in a market like that!

It is almost like that Extreme Couponing show, where they buy hundreds of dollars worth of items and only pay a few bucks -- or even get money back! Is the same thing going to happen now in real estate? I can envision a time in the not too distant future where a buyer might ask to for the seller to pay them a mortgage just to take the house, because there will certainly be upkeep and many expenses over the next 30 years. Buying a house could truly become an investment from day one instead of waiting around for years hoping that it will increase in value.

Well today I'm going to be out showing homes in the $300,000 to $400,000 range, because that is in the price range these buyers are comfortable with. And in the past that was important. But if we are going to zero anyway, I guess there isn't much reason to limit our options to any sort of price range. We can just keep throwing out offers on any homes that fit their criteria -- no matter the price -- until one of these sellers finally understands their place isn't worth anything...any longer!