Due to the large inventory of homes on the market sellers are looking for anything that will make their home sell faster. According to the Daily Progress as of Friday there were 3,753 homes actively listed in Central Virginia; this is up from 1,708 in May of 2005. Consequently sellers have been getting creative with incentives designed to entice buyers. These incentives may range from a simple price decrease, to the seller paying the buyers closing costs, a car or a vacation. Another popular incentive is the seller’s purchasing a home warranty for the buyer. However, it is important to remember that it is still vital to make sure that the home is properly priced. No amount of incentives will persuade someone to buy an overpriced home.
For a discussion of this topic as reported in Sunday’s paper click here.