August 2006: Incentives Aboud As Home Inventory Escalates

While demand for housing remains steady compared to a year ago, housing inventory has risen significantly.  The increased supply of homes on the market has left sellers searching for ways to make their property stand out from the pack.  Two such methods are to correctly price homes based on today's market conditions, and to offer incentives to urge buyers who may be on the fence.

With roughly 8,000 newly built condominiums projected to hit the downtown market by year end, builders of new-construction projects are offering some enticing incentives, hoping to capture buyers before their competition beats them to the punch.  Buyers who do thorough research will find developers offering everything from financial incentives, like reduced mortgage rates and money back at closing, to bonus incentives, such as including a parking space, a home-entertainment package or free assessments for a year.

Sellers of existing homes - especially those who need to close quickly - may be wise to borrow a page from multi-family developers by offering their own incentives.  Aside from giving a break on closing costs and other financial incentives, sellers can pique buyers' interests with perks like kitchen upgrades, or even a year's worth of alarm service, lawn care or landscaping.

But even the best homes with the most attractive incentives can't sell unless they reach the right audience.  As an @properties agent, I can market your home through multiple mediums such as the Internet, direct mail and e-mail, broker relations, signage, collateral and more.

If you are a seller with questions about how to market your home or a buyer looking to find the best incentives, do not hesitate to contact me.  I'm always here to help.

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