The REALTOR's Crystal Ball
I'm a nerd. I love stats, especially real estate stats. I was sitting at my desk with my crystal ball trying to figure out what every other Real Estate Broker is trying to discover: What trigger's a homeowner to sell their home. Typical triggers are job relocation, marriage, divorce, death, or the desire to be in a specific school district. My experience is that the majority of homeowners have that itch just about every 4 to 5 years to make change because they are outgrowing their home.
So I took the liberty in locating sales in 2011 for homes WITHOUT Basements. I narrowed the search to "entry-level" or "first-time homebuyer" homes in the city of Shelbyville. My research revealed 139 HOMES SOLD in 2011 without basements. With interest rates remaining at an all-time low, my goal is to reach out to these homeowners to inform them that they could upgrade to a home with more square footage and a basement without increasing their monthly mortgage payment significantly.
For instance: A homeowner that house a without a basement in Woodfield subdivision ($150k-$155k Value) could upgrade to a home w/ a basement in the same subdivision or similar neighborhood ($175k-$185k Value). For an extra $100+ per month, a homeowner could increase their gross square footage from 1,400 to 2,000+ square feet.
So instead of waiting for a homeowner to reach out to me about selling their home, I'm going to go door-to-door with this good news so that homeowners know what possibilities are out there in upgrading into a larger home without going house-poor.
Thanks for listening,