Buy a house...get one free...

[dirtylicious]

http://latimesblogs.latimes.com/laland/2008/06/in-escondido-bu.html
The SD market must really be bad.

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.' "
that's crazy

 

[fanatic15]

Wow.... We are not getting out of this housing crisis anytime soon

I wish I could buy 2 for the price of one though

, nice opportunity.

 

[MPLS612]

What a deal.

 

[grand hustle it]

Are you serious? I'd think twice about that though; hence you'd have to pay double the Tax & the Maintenance (sp?)...than agian you can just rentthe other one out....if it SELLS..

nonetheless

 

[knockoutned]

hmmm i think i'm ready to move to SoCal now.

 

[paul is on tilt]

Damn, I wish I had the money to buy houses in San Diego... That deal sounds sweet, but then again, how bad is it to live in San Diego for these places to offersomething like this??

 

[youngtriz]

saw that video on yahoo a couple days ago.... its crazy to see that they are willing to give a house away for free.... but 1.6 mil is alot.... if they had buya 500k house and get another 400k house free that would be amazing.... im still trying to get my credit a little better to buy a house since it has become alotharder to qualify and no more 100% financing makes it even worse... but if all goes well i should be able to buy a house in a 8 months....

 

[brotipoo]

Homes over @ SoCal are getting hit bad. I work advertising with Coldwell Banker Southern California, San Diego & Orange County and they've beenadvertising their properties over and over again for the past 5-6 months now. They even expanded their advertising to Europe to attract the rich Europeans tobuy home(s) in SoCal.

Great gimmick though!

 

[lazyj10]

I rather have the two porche's that was posted a while ago (it may have turned out to be fake, I don't recall....but still, I'd rather).

 

[lurkin2long]

this wasnt posted already? yea i heard about this 2 weeks ago. but the house is like 1.6 to begin with. man if youre rich youre good. nice deal from thatdeveloper for real.

 

[chagocal]

Yea I guess the taxs on the million dollar home might not be enought that you are going to pay them on a 300,000 house cause I know they aint giving away25,000 house are they.

 

[mateen cleaves]

they are doing this in michigan as well. also offering 2 cars with the house thats already cheap as hell now. They got million dollar homes priced down to 300kin the rich areas. If you got money this is the perfect time to buy an amazing house for cheap

 

[gordon gartrelle]

I don't know much about how this is affecting Southern California, but there was a piece on 60 minutes two weeks back highlighting the problems aroundStockon and how there were literal ghost towns resulting from the subprime crisis. It was really eye opening. Way to go Wall Street




Also, check the maps on this site which highlights the foreclosures in that part of the state. It's wild.

Foreclosure Radar

 

[cwrite78]

incredible. my uncle lost his house, same with my co-worker. hard to see grown men cry losing almost everything.

 

[j super]

wow
is the house in SD that cheap

 

[cincoseisdos]

Originally Posted by J SUPER

wow
is the house in SD that cheap

hell noooooo

unless youre away from the city like logan heights

 

[bigtomgetsgwap]

 

[kingcrux31]

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/01/MN9P10VCCL.DTL

 

[acidicality]

if someone is rich enough that's a helluva deal

 

[rayray84]

Watch a new breed of 'resellers' come out and scoop like 20 houses and resell the free ones on the market

 

[prez t]

absurd

 

[supra97rx7]

Originally Posted by LazyJ10

I rather have the two porche's that was posted a while ago (it may have turned out to be fake, I don't recall....but still, I'd rather).

if i remember correctly, it was real, but the deal was soon removed because it was enacted without manager's approval or something like that

 

[mateen cleaves]

Originally Posted by CWrite78

incredible. Its my uncle lost his house, same with my co-worker. hard to see grown men cry losing almost everything.

Not surprising, has been happening a lot. About 20 people in my friends sub got their homes taken away, all their cars. Basically lost everything.

 

[icykicks79]

wow

 

[sneaker junki3]

Next thing you know there's gonna be friends and family coupons and employee appreciation for the realtors!