Buy one home and get a second one free
This article is an example of how creative some realtors and home builders are becoming to move "inventory" from their balance sheet. I found it really interesting…. it certainly is not an easy market for the housing industry. If you are in real estate or the mortgage business you may want to take a peak on the Blogroll (to the left) under Real Estate/Mortgage Professionals for a lucrative alternative. 
Also, please leave a comment on how you are being creative with your marketing….
The grocery shopper’s beloved BOGO — buy one, get one (free) — has moved into the realm of home sales. Yes, home sales. In yet another sign of how anxious sellers have become in today’s housing market San Diego real estate developer has offered a free $400,000 row home to anyone who buys one of his estate homes starting at $1.6 million.
"We want to reduce our inventory," Mark Connal, a vice president at Michael Crews Development, told the San Diego Union-Tribune. "We’re prepared to bite the bullet. … Right now, every builder I know is selling houses at less than it costs to build them."
Another company official, Dawn Berry, was quoted by a San Diego TV station: "We thought, ‘Why does it just have to be on Pop-Tarts and restaurants? Why not buy one home, get one free.’" Of course, you’ll have to pay property taxes on both.
The houses available for $1.6 million and up are gated estate homes in the San Pasqual Valley. The row homes, in Escondido, once sold for $540,000, according to the Union-Tribune.
A flier at the developer’s Web site says, "It’s never been done before and may never be done again!" The flier and a post at the company’s blog say the offer was good through May 31.
A blog post at LA Land about the promotion generated plenty of comments. For instance, reader Greg said: "This is great! It will give me somewhere to park the free SUV I’ll get with the purchase of my new hybrid." "steve in k.c." said: "May I default on the first one and then still keep the second one? Thanks in advance. Honey, get the kids, and load the van … we’re moving
blogs.moneycentral.msn.com/smartspending/archive/2008/06/03/buy-one-home-and-get-a-second-one-free.aspx
Until next time, J.
"Take control of your destiny or someone else will"
Tags: Blogroll, businesses, dawn berry, destiny, diego union tribune, flier, generations, grocery shopper, home builders, housing industry, housing market, marketers, michael crews development, mortgage business, mortgage professionals, pop tarts, professional, professionalism, property taxes, quot, quot quot, real estate developer, real estate mortgage, realtor, san diego union, san pasqual valley, sansan diego tv station, signs, thought, why
June 04 2008 10:33 am | Home Business Ideas and Wealth Strategies
June 6th, 2008 at 11:10 pm
I cannot believe this… In San Diego for 19 years, 19! Owed two pieces of property, neither of which sold for a hill of beans (moved at the bottom of the latest cycle) of course. Now they are giving houses away… What is this world coming to?!
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