Calling all neighbours!
When you see a house on show in your neighbourhood...visit it. Why? Because all neighbours are stakeholders in the suburbs in which they live.
Apart from having a friend or relative who may wish to buy in the area, your presence at the show day may nudge potential buyers in the right direction.
As a suburban homeowner, you are well positioned to spread the word - among family, friends and acquaintances - on the sale and asking price of your neighbour's 'for sale' property.
By doing so, you could well help to deliver a best-price sales outcome on the transaction, the ripple effects of which will reinforce - or, better still, raise - the overall home price threshold in the neighbourhood.
More important, it will boost the value of your own property.
Putting the word out
'Right now' is always the best time to put the word out - whether it be at social get-togethers; dinner parties; family functions, the community 'grapevine', or by way of face-to-face contact.
In this difficult residential property market - which I now truly believe has hit rock bottom - your involvement as a neighbour might just make a positive difference.
After all, neighbours are effectively ambassadors for the areas in which they live. They are home suburb savvy - so much so that their input and guidance on a house sale could result in a 5% to 10% positive difference on the price achieved.
That is why smart estate agents will always invite neighbours to show days.
Best Price threshold
Meanwhile, in my decades-long career in residential real estate marketing in the Johannesburg/Sandton area, I have not seen a better home purchase price threshold than right now. Not even in the in the market downturn that came in the wake of the 2008 global economic meltdown.
Buyers who commit in this market are unlikely to regret having done so.
Remember that more millionaires were created in the Great Depression than in any other time in history!
Author: Ronald Ennik