Friday, October 26, 2007

New Home Builders Getting Desperate

From the Real Estate Journal:

“Lennar Corp. placed a two-page advertisement in Florida's Orlando Sentinel earlier this month, announcing it would be giving away a home in the Orlando area next month to one home buyer who visits its sales community and enters the drawing.”

From the Real Estate Journal:

“Some builders, such as Centex Corp., had been offering 12-hour sales at some of its sales centers in California, where buyers would be offered as much as $100,000 off the price of a multimillion-dollar home if they purchase a home during the sale hours.”

From Today’s 6 news:

“People lined up early and made deals over the phone. People who had put off buying a new home, waiting for a better deal, think they may have found it. They were drawn to buy a house built by CBH Homes Friday through the builder's 'Deal of a Lifetime' ad campaign. CBH discounted it's homes by as much as 70-thousand dollars, on 200 houses in Ada and Canyon Counties.”

From the New York Times:

“Hovnanian Enterprises Inc., struggling like other home builders, is offering six-figure discounts on some of its properties this weekend as it tries to draw interest in a slumping market.”

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