New gimmicks being used by developers to sell overpriced homes

[mixxalot]

Just read about how developers such as Centex Homes are hiring actors to play fake families in the overpriced homes that they are trying to sell as the market starts cooling off. How can people fight this duplicity? I plan to wait 5-10 years to buy until the market bottoms out.

[bubble_contagion]

The best “gimmick” a developer can use:

“Developer Maisel Presley is selling condos online by dropping the price by $1,000 a day until a unit sells.”

Source:

http://news.yahoo.com/s/ap/20060813/ap_on_bi_ge/condo_slowdown

[barnaby33]

I would hardly call that a gimmick. I would say that is a very efficient market theory in practice. Since people on this board have a higher degree of understanding of what a fair market value is, I doubt we will be buying them, but its still a good idea. There is a MP conversion project that just finished selling kitty corner from me in Northpark.

Josh

[salo_t]

For something to do today my Wife and I drove out to Campo to see the Campo Hills community they are currently building.
I was actually surprised at how many people have already bought homes there but then again there were a lot of for sale signs stuck in the lawns of homes that had already sold. The homes are more modest than some of the McMansions we are used to seeing but sort of nice too. They range from 355k to 420k per the signonsandiego.com website. The main problem I had was that there is nothing in Campo to do. You would have to drive 30 miles to do anything or even go to the hospital. I didn’t even ask if they are offering any incentives because I had no intention of buying but I think the price alone is maybe some of the lowest in the area at the moment.

[mixxalot]

Yeah living in Campo or even Temecula would suck for a young buck like myself. I would die of boredom even if I lived in a huge house. Anyways maybe I should look into one of those realtor actor jobs after a layoff from my tech job here in San Diego. Man I dont see a lot of new jobs in technology here in San Diego!

[bub]

Here is the article: “Playing house”

http://www.venturacountystar.com/vcs/business/article/0,1375,VCS_128_4851144,00.html

And let’s not forget the developers of the Atria condos in downtown San Diego beat Centrex to the punch. The photos taken in Feb. are hilarious.

http://www.capitalstool.com/forums/index.php?showtopic=7644

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