As the housing slump winds on, builders and Realtors are getting very creative in their marketing. We could almost do an awards show about the best promotions. Here are a few of my favorites:
Pardee Homes has a red door list of complete homes they are putting on special sale price each week.
Shea Homes is offering a chance to win free gas for year to new home buyers.
Only in LA: I saw an ad saying a listing was the first duplex in the neighborhood offered for under $1 million since 2004.
I’m noticing that price reductions are now called price improvements. That’s not an improvement for the seller.
My favorite pitch of all: DR Horton offering $100,000 off to any buyers, but they have to bring the coupon!
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.