mpine 0 Report post Posted October 16, 2004 WOW! I am blown away by a trend I am noticing... I have been emailing about 15-20 FSBOs a week, and have noticed that I have been getting a 100% response rate. Out of the 100 emails i have sent over the last 4 weeks, 50% wanted to know what this Lease Purchase thing is, and 20% wanted to hear more after my follow up with the Lease Purchase Advantage letter. Then there is the 50% who thank me for my interest but are interested in only conventional means, and will not even offer discounts for all cash. Ofcourse, I then send them the Lease Purchase Advantage letter. Todays unmotivated seller is tomorrows super motivated seller. Now if only I could find FRBO websites I think I could clean up as these people seem more comfortable with the contracts. Mike :ph34r: Share this post Link to post Share on other sites
California Rick 0 Report post Posted October 16, 2004 Which FSBO site(s) are you referring to? Share this post Link to post Share on other sites
mpine 0 Report post Posted October 16, 2004 Which FSBO site(s) are you referring to?<{POST_SNAPBACK}> I am referring to every site I have tried thus far, excluding sold homes, but even they were kind enough to respond to me in under 24 hours. Mike :ph34r: Share this post Link to post Share on other sites
California Rick 0 Report post Posted October 16, 2004 Which FSBO site(s) are you referring to?<{POST_SNAPBACK}> I am referring to every site I have tried thus far, excluding sold homes, but even they were kind enough to respond to me in under 24 hours. Mike :ph34r:<{POST_SNAPBACK}> What I was asking was: Do you have any URLs to share? Share this post Link to post Share on other sites
mpine 0 Report post Posted October 16, 2004 Which FSBO site(s) are you referring to?<{POST_SNAPBACK}> I am referring to every site I have tried thus far, excluding sold homes, but even they were kind enough to respond to me in under 24 hours. Mike :ph34r:<{POST_SNAPBACK}> What I was asking was: Do you have any URLs to share?<{POST_SNAPBACK}> byowner.comfsbo.cominfotube.netallthelistings.com I believe I got most of them off of here actually... do a search on FSBOs on here and you may find a few more. Mike :ph34r: Share this post Link to post Share on other sites
California Rick 0 Report post Posted October 16, 2004 COOL!! Thanks a bunch! Calif Rick Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 16, 2004 That is a rather amazing response rate! Seeing as most LI'ers, (and Floridians), aren't known for their, ahem, warmth, even more so.Either you are one hell of a charmer on the telephone, Mike, or there is a change in the air. I suspect the latter.The peak summer buying season is over, and the market in general has begun to show signs of peaking. I have a few friends/associates in the southern California marketplace, and they tell me the market shift is noticeable to all but the most stubborn sellers right now. That market usually leads the rest of the country in setting trends. It'll be interesting to see if things begin to shake out.In the meantime, keep calling while the going is hot. Share this post Link to post Share on other sites
Gary (MO) 0 Report post Posted October 16, 2004 Michael are you thinking a 'general shift' or a mere burp in the strong 5 year sellers market? Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted October 16, 2004 The shift has become quite noticable in my market as well. Houses that would have sold in days anytime in the last 5 years, are now suddenly on the market for 3+ months with no action. I suspect this is because sellers have been told that this is the fall "buying" season, and so they are standing firm on their price, despite the fact that the greater trend is against them. If interest rates go up significantly after the election, things are going to get ugly for sellers around here, this winter. Which is where I come in! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 17, 2004 Michael are you thinking a 'general shift' or a mere burp in the strong 5 year sellers market?<{POST_SNAPBACK}>Good question, Gary. But I just don't know what will happen. I do know that at present I'm being told by folks in the San Diego and LA markets that properties are sitting on the market for three months and longer. Unheard of just a few short months ago. Of course, prices are now being reduced, grudgingly, to move those properties. Trend or minor correction? Only time will tell. Share this post Link to post Share on other sites
California Rick 0 Report post Posted October 17, 2004 That's kinda the way things are here in Sacramento. Since early 2002 (about 2 1/2 years now) the market has been red hot. A lot of investors have been moving up here from So Cal and the Bay Area after selling their half-million-dollar chicken coops and driving prices up here into the freakin' stratosphere. Which is GREAT if you own a home (like we do!! ); that means TONS OF EQUITY!!! But on the other hand, if you weren't able to catch that wave, you may very well now find yourself priced out of the market (and lots of people are ). When we bought our house here, the median price of a single-family was around $180k. We paid considerably less than that. It's now over $300k. A 200% increase in value in 2 1/2 years. The market is showing signs of a cool-off, though. Hmmm, just had a thought. With all these people being priced out of the market, maybe a guy named Rick can (and should) come along and get these people into a house of their own, for a nominal fee, of course, so that they don't have to qualify for a mtg just yet, or... :ph34r: Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 18, 2004 Hmmm, just had a thought. With all these people being priced out of the market, maybe a guy named Rick can (and should) come along and get these people into a house of their own, for a nominal fee, of course, so that they don't have to qualify for a mtg just yet, or... :ph34r:You're joking, of course, but heck yeah you ought to do just that! Because if a guy named Rick doesn't do so, some other guy or gal will come along and do just that. If, in fact, your local market is beginning to return to normalcy, sellers will begin to panic. And now is the time to be speaking with these sellers. Because while you were as welcome as the plague last year, you'll be the greatest thing since canned beer if you can show them a solution to their problem. Share this post Link to post Share on other sites
California Rick 0 Report post Posted October 19, 2004 Yup!! That's the idea! Actually, while I sounded facetious, I was only HALF kidding...I've already been on the phone and email with sellers; no one has expressed interest yet, but with all the calls I've been making and emails I've been sending, something's bound to happen soon. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted October 19, 2004 ...with all the calls I've been making and emails I've been sending, something's bound to happen soon.Rick, that's how I feel right about now. Although I have my first CA under my belt, the second is proving to be far more elusive. I guess I've made about 50 calls since that first deal, and I've had some interest, but no bites yet. But I figure even if I get 1 out of 100, I'll be doing alright. Share this post Link to post Share on other sites
Alan 0 Report post Posted October 19, 2004 Thank you Mpine. Last night while watching the Yankess Lose , I emailed 24 FSBO's........I have received 3 emails back with homeowners wanting more information. I emailed the web site www.infotube.com Share this post Link to post Share on other sites
