New car added as incentive to sell home

Local News

January 21, 2009

$339,000 package

By Bill Robinson The Richmond Register Wed Jan 21, 2009, 07:12 AM EST

You could call it a sign of the times.

“BUY THIS HOME AND GET A 2009 CAMRY FREE,” states the sign in front of a home in Waterford subdivision north of Richmond.

The owner is so eager to sell his home he has thrown in a new car to sweeten the deal.

The owner of the three-bedroom, four-bathroom home already had reduced the price of the home by $10,000 to $339,000, said Ray DeSloover of Coldwell Banker Real Estate.

“To help generate interest, last week he decided to add a new Toyota Camry worth about $22,000,” DeSloover said.

Toyota South in Richmond decided to participate in the promotion by making the car available at cost, said Charlie Johnson, the dealership’s general manager.

“We thought the synergy created by the package deal would benefit all concerned: the seller, the buyer, the real estate agent and the dealership,” he said.

Sided with brick and stone, the four-year old house at 833 Ridge Field Road has a bath in the basement. Half the basement is finished, giving the 4,850-square-foot house 3,425 square feet of finished space.

It also has a four-car garage and many interior amenities.

The subdivision is off Charlie Norris Road, just east of Interstate 75 between Exits 90 and 95.

The house, which has been on the market for about four months, is mostly furnished, and the furnishings also are for sale, DeSloover said.

“The owner, whose job is military related, was transferred from Madison County to the Mississippi coast,” DeSloover said. “For a buyer not in need of a car, the seller is willing to negotiate other terms. This guy is ready to deal.”

Five couples inspected the home Sunday during an open house.

“This is a buyers’ market, and people with good credit can get one of the best mortgage rates ever,” DeSloover said.

“It’s a shame nobody bought it last week when some 30-year, fixed-rate mortgages were available for as low as 4.5 percent,” he said.

A sampling of central Kentucky lenders’ Web sites Tuesday listed rates from 4.65 percent to 5.125 percent.

While Madison County is better off than most sections of the country, the local real estate market is down compared to recent years, DeSloover said.

Annual sales statistics from the Madison County Board of Realtors are not yet available, a spokesperson said Tuesday.

“I’ve been in the real estate business for 37 years, so I’ve seen four or five downturns,” DeSloover said. “The U.S. economy has always come back and was stronger than it was before.

“President Obama has promised a stimulus plan to get our economy moving again,” DeSloover said. “If we all need to get behind the new president’s plan, whatever it is, we can make it work.”

Bill Robinson can be reached at brobinson@richmondregister.com or at 623-1669, Ext. 6702.

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