Home, town house and condo shoppers throughout the nation can save 10 percent on select listed properties during a special 10-day sale by Coldwell Banker.
The sale, kicking off today and running through Oct. 20, is geared to bring buyers and sellers together to help jump-start the real estate market, said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC.
Buyers can save $10,000 per every $100,000 on select residences listed by Coldwell Banker. Approximately 25,000 homes, condos and town houses are part of the national sale. In the Chicago area, more than 1,700 properties (including those in Michigan and northwest Indiana) are eligible for the discount.
Participating sellers who have their homes listed with Coldwell Banker have agreed to drop their prices.
"Our sellers feel that a home priced properly will generate more interest among buyers," said Fran Broude, president of Coldwell Banker Residential Brokerage, in a statement released this week. "Plus, our sellers say they're comfortable lowering their listing prices if it means getting offers and selling quickly."
One of the homes included in the sale is a single-family home at 6510 Terrace Dr. in west suburban Downers Grove. The traditional-styled home was listed for $459,000. During the sale, the listing price will be $413,000. The 34-year-old two-story home has 4 bedrooms and 2½ baths. It includes a family room and finished basement and two-car garage.
In north suburban Glenview, the listing price on a single-family home at 945 Drake Dr. is $2.8 million, down from $3.15 million. The sprawling residence has 5 bedrooms, 5.2 baths and an attached three-car garage. Other highlights include: a family room with vaulted ceiling; a coffered ceil ing in the library; four fireplaces; theater room exercise room; second-floor laundry room and a finished lower level.
Many Coldwell Banker agents believe their listings are overpriced. In a recent nationwide survey of 3,379 Coldwell Banker professionals, more than half said the listing prices were above where they needed to be to attract qualified buyers.
The survey also found that 77 percent think the majority of sellers in their market still have unrealistic expectations regarding the initial listing price for their homes. And 79 percent agreed that properly priced homes are attracting more buyers and selling quicker than overpriced homes.
Meanwhile, Gillespie says the residential real estate market has been showing several positive signs over recent months that could be signaling a tipping point. "Because of higher inventory, buyers have more homes to choose from. The recent housing and economic recovery legislation also provides first-time homebuyers with the added incentive of a $7,500 tax credit," he said.
To find a Coldwell Banker sales agent or Realtor, call (888) 308-6558; www.coldwellbanker.com.
