June 30, 2011
What would you do to sell your house in this market? These days, some people will try nearly anything. Nearly four million homes were for sale in May, and very few buyers are lining up to make offers.
Only about 9 percent of traditional homebuyers (not investors) are planning to make a purchase in the next 24 months, and 40 percent of renters reported that they plan to never to buy a home. Home prices are now at 33 percent below their 2006 peak, and many experts predict prices will continue to fall. Some sellers aren’t willing – or able – to drop the price of their home any lower, and instead are getting desperate … really desperate.
They’re resorting to bait and switch tactics, false advertising, and extreme giveaways. One seller appears topless in her ad; another seller created an infomercial for his home in five languages.
See our slideshow for some the most desperate sellers out there, and let us know about any we’ve missed.