San Diego Developer Offering Buy One Get One Free
Think of all the free advertising this stunt is getting.
In a sign of how difficult it is to sell new homes in Southern California right now, a San Diego developer is offering a "buy one, get one free" deal, pairing million-dollar homes with less expensive homes.
"We thought, 'Why does it just have to be on Pop Tarts and restaurants? Why not buy one home, get one free,'" Dawn Berry of Michael Crews Development told 10 News in San Diego.
More: "Michael Crews Development is offering new, 2000-square foot cityscape row-homes worth $400,000 in Escondido for free -- if you buy one Royal View Estate home in San Pasqual Valley starting at $1.6 million. 'You know it's a straight-up legit deal; no prices have been increased, there are no hidden costs. Michael is just giving away a free home for people that buy at Royal View,' said Berry."
"Adam Rossman of Michael Crews Development added, 'People have been coming in saying, 'How can you do this?' Well, it's our way of dealing with current market conditions to move some inventory.' "
2 comments:
Wow, I guess it's worth cutting loose a 400K liability that you can't sell, than getting stuck with a 1.6 Mil piece of property you can't sell. Ouch for them, but what great publicity, I saw this on the news here in L.A., on MSNBC, and on your blog. Most builders would spend 400K and up if they knew they'd get that kind of recognition.
Thank you for commenting. You're much nicer than the guy from Chicago who left a comment that I was an asshole. He must have worked for the Alderman. . .
Alderman O'Connor posted a response to the original article on his website stating that the zoning changes occurred before his wife got the listing and he had no way of knowing that the land would be sold and his wife would benefit. I can see how this would be true, but is his wife the only real estate agent in town? And why wouldn't she recuse herself from the listing to avoid a conflict of interest and so much criticism for her husband?
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