California: Buy One House, Get One Free
Via L.A. Land, comes this fabulously surprising advert:
>
click for ginormous version:
UPDATE: June 5, 2008 10:12am
My pal Paul is in the TSCM Video about this . . . (Hey Paul, um, Real Estate guru . . .?)
>
Source:
In Escondido: Buy one (house), get one free.
Peter Viles
L.A. Times, June 1, 2008
http://latimesblogs.latimes.com/laland/2008/06/in-escondido-bu.html
Tuesday, June 03, 2008 | 09:00 AM | Permalink
| Comments (22)
| TrackBack (1)
add to de.li.cious | 
digg this! | 
add to technorati | 
email this post
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c52a953ef00e55299d0998833
Listed below are links to weblogs that reference California: Buy One House, Get One Free:
» Compre una casa... y llevese otra de regalo! from meneame.net
El 2 x 1 ha llegado al mercado inmobliario en USA [Read More]
Tracked on Jun 6, 2008 6:14:40 AM
Comments
Nothing says open society better than 'gated estate homes with RV garages.'
Posted by: Douglas Watts | Jun 3, 2008 9:13:25 AM
Will they throw in a set of Ginsu Steak Knives?
Posted by: Lee | Jun 3, 2008 9:23:00 AM
TANSTAAFL. I don't believe for a second that you're actually gonna get a priced-in-today's-market first home in Royal View with the second home free and clear, with no payments. I'd like to know what those *terms and conditions* are.
Posted by: bluestatedon | Jun 3, 2008 9:38:23 AM
so if you Just Walk Away from the one you buy, can you keep the free one?
Posted by: brent | Jun 3, 2008 9:39:18 AM
Barry,
Make sure you add the catagory "Inflation" or prices to this post.
The price statisticians have been loath to recognize house price declines when the builders throw in free upgrades like a finished basement or pool.
How the heck are they going to adjust for a free house ? It'll give them fits to price adjust for this. I'd love to find out what they do.
Posted by: Michael Donnelly | Jun 3, 2008 9:53:01 AM
Royal View - I'm always stunned to see anything in this country labeled "Royal" as if it's a plus somehow. It's as if the War of Independence to throw off a distant monarchy just didn't happen.
Posted by: FT Woods | Jun 3, 2008 9:59:25 AM
I got one word to solve these problems.
Bulldozer.
Posted by: Ken H | Jun 3, 2008 10:08:21 AM
"Golf courses and cemeteries, the biggest wastes of real estate"
-rodney dangerfield
I like to add to that quote "homes with RV garages"
Posted by: tim | Jun 3, 2008 10:11:08 AM
Unbelievable. They're selling like bags of Cheetos now. If this isn't desperation, I don't know what is.
Posted by: Tom F. | Jun 3, 2008 10:22:53 AM
Attempting to both preserve the price of the upper end homes, while clearing the inventory of lower end homes(and further killing their values).
Why don't you just run over the middle classes dogs too while you are at it.
Posted by: Room_641A | Jun 3, 2008 10:35:43 AM
"don't miss this incredible INVESTMENT opportunity."
add that one to the list of pundit shills.
I think Cityscape (half built at the time) burned down a few years ago. Boy that was bad timing to re-start it.
A neighbor of mine works for this development company...I wonder when his Jeep (with the name plastered all over it) will be repossessed.
"it has never been done before and may never be done again"
Somehow I doubt that......look at the expiry date...May 31st..hurry!!!!
Ciao
MS
Posted by: michael schumacher | Jun 3, 2008 10:38:19 AM
Ot: LEH is toast......thank god all of it's problems are caused and related to shorts. Is Morgan it's biggest counter???
Ciao
MS
Posted by: michael schumacher | Jun 3, 2008 10:41:38 AM
similar ad in the KC papers. big suburban developer, making a happy face, says "we're moving out the '07 models and making great deals on the '08s!" just like overpriced shoddy American cars.
Posted by: scorpio | Jun 3, 2008 10:52:49 AM
"It's never been done before and will never be done again." Ha!
Posted by: Chachi | Jun 3, 2008 10:55:04 AM
stolen property (homes foreclosed by mortgage fraud, waste and abuse) are always sold cheaper.
Posted by: Robert Tapia | Jun 3, 2008 12:05:02 PM
We drove through here last weekend on the way from LA to Ramona (which is about 40 miles from downtown San Diego on the edge of the high desert). The San Pasqual Valley still shows the scars of last years forest fire. It is a very beautiful area, which is in stark contrast to Escondido. The entire area is highly populated; most drive big trucks, have 4 cars, RV's and boats. The entire way of life out there is built on cheap gasoline.
Posted by: ct | Jun 3, 2008 12:07:56 PM
Can I put my mother-in-law in it, and then walk away?
(thank you very much - I'll be here all week)
Posted by: KnotRP | Jun 3, 2008 12:13:42 PM
Barry,
I was in the meeting when we came up with the idea. We didn't figure anyone would actually take us up on it but we knew it would get people talking and generate traffic. Never in my wildest dream did I think we would make it to The Big Picture.
Posted by: David Bennett | Jun 3, 2008 12:50:44 PM
So David......any takers???
>>We didn't figure anyone would actually take us up on it>>
reverse bubble mentality.....I suppose you never thought you would have to sell ice to eskimoes however that's what you are doing here.
Good luck with the 'bag
Ciao
MS
Posted by: michael schumacher | Jun 3, 2008 12:58:39 PM
Florida-where I live- is bad, but not that bad.
Posted by: speculator | Jun 3, 2008 1:44:13 PM
I remember when Yugo (A Car from the 1980s) had sale buy one get one for a penny. I guess they've one uped the Yugo!
Posted by: Mike | Jun 4, 2008 2:07:35 AM
Well, with the Royal View houses *starting* @ $1.6MM (http://www.michaelcrews.com/New_Homes/sandiego/escondido/royal_view.html), and the only Cityscape places left are $400K (http://www.michaelcrews.com/New_Homes/sandiego/escondido/cityscape.html), I'd guess he's still making something... Anybody know what an average developer's profit margins are...?
Posted by: Michael | Jun 4, 2008 5:02:27 PM
