Ads & Park on the rise? - Posted by Java(OH)

Posted by JeffB (MI) on May 24, 2006 at 13:35:59:

No advice in particular, but to answer one of your questions, yes, I personally find it MUCH harder to sell a home “as-is”… but I am in a very soft market with a lot of inventory out there, and people in general seem to be too lazy to do the work themselves, or otherwise cannot picture in their mind what the place will look like “fixed up”.

Ads & Park on the rise? - Posted by Java(OH)

Posted by Java(OH) on May 23, 2006 at 22:40:21:

First off, does anyone usually get calls on their first ad-Sunday newspaper. I only received one call and they didn’t come to see it. No price stated, just typical Lonnie ad.
Also, I met a PM who just recently started at a park(hubby/wife have lived there for 8 yrs)that has a bad rep for drugs, but since last year when the drug task force was brought back and the new PM cleaning house, the park appears to be on the rise. The PM has been throwing my name around and is being very motivated(I think she wants the $100) as well as clean up the park. The only problem, besides the back rep, is that the homes are is “need repair” shape. I can get two/three at very good prices, but don’t have time or workers to fix-up. Do you have any suggestions and how much harder is it to sell “as-is”. The park is an older park and the average home is around $8,000, with a few $10,000-$15,000 homes woven in. The homes that I have an opportunity to buy, are obtainable for $1,000-$2,000 each. Any advice would be appreciated.
Thanks in advance.

Re: Ads & Park on the rise? - Posted by Todd (AZ)

Posted by Todd (AZ) on May 24, 2006 at 14:32:06:

Hi Java. Your numbers sound similar to mine ($8,000) so I thought I’d jump in. If you provide the financing, I see no reason why you couldn’t get $8,000 for those very same homes you are buying cheap DEPENDING how bad they are. I deal with a heavy Mexican population and haven’t had a problem selling “as-is” after doing a decent clean up. A good marketing program, combined with a good cleaning and financing and I’ll bet you can sell those. Just my 2 cents. Todd (AZ) P.S. I like to put SOME kind of price in my ad so it doesn’t seem too vague. Something like “Low down payment, only $198 per month” works well for me. I base the $198 per month off of a fairly large down payment and if they don’t have that I simply say “Oh, ok, since you don’t have $4,000 down and only $2,500 then your payment would still be low, only $225 a month”. Never is a problem. The point is that you’ll never get large down payments unless you shoot for them. Todd (AZ)