Brokers blanket entire neighborhoods with mass mailings to scare up sellers

Real estate brokers in the Charlotte, N.C., region are doing mass mailings to entire neighborhoods and even knocking on doors to let homeowners know that if they want to sell, there are plenty of buyers.

The supply of existing homes in the 18-county area fell to 5.3 months in October, down from 6.9 months the same time a year ago and 10.4 months in October 2011, the Charlotte Observer reports.

Many underwater homeowners are waiting for further price gains before putting their homes on the market, Champ Claris of Berkshire HomeServices Carolinas Realty told the paper. Source: charlotteobserver.com