The real estate broker selling the home also owns it and says it’s a new marketing strategy.
CHEEKTOWAGA, N.Y. — If you’re searching for a new home, or just like looking at the listings, you may have noticed a local home listed for one dollar that popped up last week. It’s in Cheektowaga, and it’s not a fake listing.
In fact, the broker says this strategy has been tried 18 to 24 times in the United States this year, but this is the first time he says it’s happening here. He hopes it’ll show what the home is really worth.
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“We did windows, doors, floors, furnace, air conditioning, hot water tank, electric, concrete driveway, lighting, trim, every outlet, every switch,” said John Spaschak, an Associate Real Estate Broker.
John Spaschak owns 141 Diane Drive in Cheektowaga with his business partner. He’s also the Associate Real Estate Broker selling it.
“Setting up a business called Born Again Transformations, and we completely transformed the house in a very short time,” said John Spaschak.
Since the listing for the roughly 11-hundred square foot, three bedroom, one bathroom home went live last week, it’s gotten more than 21,000 views on Zillow.
It’s listed for only a dollar.
“What we’ve done by doing a one-dollar listing, is we’ve removed all the guesswork, and we’re making the point that list price is not any longer indicative of a home’s value,” said John Spaschak. “A buyer is only going to pay what the market value is in their eyes anyway, and so we figured why not prove that to the market.”
Spaschak says this marketing strategy is also getting the attention of people in real estate circles.
“A portion of our proceeds are going to go back to charity. We want to improve the community, it’s what we do. We do this full time, and we’re really excited about it,” said John Spaschak.
Offers are due by Monday at noon.
Spaschak says several have already come in, and he is confident it will end up selling at the top of what all the comps are in the neighborhood.
