By Marilyn Lewis
Margot Ray, a radio-ad saleswoman in Stockton, Calif., put her five-bedroom, three-bath house on the market in February for $480,000. There it sat, along with about 3,000 other homes for sale. She dropped the price to $465,000 in April. Nada. "We'd have an open house and maybe one or two people would come by. I had an open house where nobody came," Ray says.
In July, she had a brainstorm: Why not advertise on the radio? The ad put the house on the map. Now agents remember the address. The price is down to $427,000 and, at a recent open house where Ray raffled football tickets and a spa day, 15 groups of potential buyers showed up on a 107-degree day.
But it still hasn't sold.
http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/WhenHomeownersAreDesperateToSell.aspxIt is no longer a matter of when the housing bubble will go *pop*. The housing bubble has *popped* I'd say!
:dem:
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