this just worked for my friend's next door neighbor. They got form letters saying a buyer was interested in a property in that neighborhood, and was looking for a seller. The neighbor had been thinking about listing, and went ahead a arranged a showing. Buyer made an offer, they accepted.
It does work, even if people do think it is tacky. I don't know if I would write the letters myself at that stage - I would think a personal story letter might work better in the contract stage.
So, yes, if you like a neighborhood and are hoping someone might list, this is worth a shot.