New Home Builder D.R. Horton Has Short Sales

Posted by: Chris Palmeri on March 6, 2009

DR-Horton-Short-Sale-450.jpg

We all know homebuilders are hurting. And Dallas-based D.R. Horton, the nation’s largest, has a clever marketing pitch. It’s been advertising “short sales” to compete with the thousands of home owners trying to unload their properties for less than what they paid.

On March 15 and 15th the builder is selling a limited number of homes in communities throughout California at prices sooo low—well, you have to go to the sales office on the day of the sale to find out what they are.

In January D.R. Horton hired diminutive actor Verne Troyer as spokesperson for a similar ad campaign in Las Vegas. These are tough times for everybody.

Reader Comments

Snoz

March 7, 2009 4:46 AM

In the past BW readers only suspected Palmeri was a flipper from his bias journalism. Today, the truth is out. Palmeri is a California Flipper, the worst and most evil kind. His personal agenda is now apparent. His color revealed. Hence forth, Palmeri and
his buddies will stir up real estate speculation frenzy so that he can unload his flipper houses on the innocent.

mark

March 7, 2009 2:42 PM

At least they're staying current, getting our attention and keeping prices competitive.

BWilds

March 8, 2009 10:07 AM

This is the reality of the home builder sector. No profits will exist in this area for 2 to 4 years. Far better investments exist with the potential to pay off much quicker, this sector should be avoided!

home builder communities

April 6, 2009 4:17 AM

Westmoreland Group's mission is to create a partnership with you that, combined with careful home development planning, meticulous project management and personal attention to detail, will ensure that, as we build your home in South Carolina, all your quality and budgetary expectations are met.
http://www.westmorelandgroup.com/

land developers

May 20, 2009 4:56 AM

True South Communities creating standard homesteads, neighborhoods, and villages fit for standard of living
http://www.truesouthcommunities.com/

Pat

June 17, 2009 9:20 PM

Does anyone have a list of what the going sales price was for these short sales back in January 2009 at Nevada Ranch First Light Plans 1-3?

Post a comment

 

About

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.

BW Mall - Sponsored Links

Buy a link now!