Monday, November 24, 2008

Desperate Seller Database from Agent503

Portland now has a desperate seller’s database!

The Desperate Sellers Database tracks VACANT listings in the Portland real estate market that have languished for MORE THAN 100 DAYS and/or where sellers have slashed their asking price by at least 7%. While this is no guarantee that the seller is actually desperate, this approach has proven to be the most efficient way to identify whether a seller is motivated to negotiate.

Here are the biggest price drops:

Pearl District- 2,017sq ft condo
Original asking price- $1,590,000
Current asking price- $975,000
39% price drop

South Waterfront- 1,831 sq ft condo
Original asking price- $1,195,000
Current asking price- $799,900
33% price drop

Tom Heinicke is Agent503. Focusing on Portland’s close-in neighborhoods, Tom assists home-buyers and investors in the acquisition of residential real estate at attractive prices. Having worked as an analyst for several Fortune 500 companies, Tom understands that clients expect insight and expertise - not a sales pitch.

Note to Portland realtors:
My biggest complaint is that your approach is heavy on sales (and overcoming objections) and light on market insight. Please look at Tom’s website and see how much current information he offers.