The housing marketing is beginning to go soft. In many parts of the country, there are
three or more months of static inventory of new and existing homes. So increasingly, builders are turning to promotions to move their unsold properties. Lennar Corp decided to give away one of their homes near Orlando. Potential buyers who visit their sales community can enter a drawing. 110 prospects will receive keys, and naturally, one opens the door to the free house. Other builders are offering significant price reductions--$ 300,000 to $ 230,000, for example, or free or discounted amenities. Lennar also offers to pay the first six months of mortgage payments. Another builder offers to pay your mortgage for an entire year. There are fewer speculators and flippers seizing these deals, and buyers are taking their time as well.
Marketing Blurb urges first-time buyers to kick the tires a few times before buying. We learned this from
The Wall Street Journal.
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