The Morning Report
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Remember this story, when Michael Crews, a developer in North County, was offering would-be homebuyers a sales bargain borrowed from the playbook of car dealers? Last June, we told you about his program to trade in your old house for one of his new row homes in Escondido.
Now, the tactics are getting more spectacular. The company is offering a buy one, get one free program. You buy one of Michael Crews’ houses in the San Pasqual Valley, starting at $1.6 million. And then you get a free row home in Escondido, worth $400,000.
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I’m admittedly late to this story — 10News first reported it a couple of weeks ago. But the story has shown up all over the place as news outlets and blogs pick up what seems to be a dramatic sign of the times, where developers fight to convince buyers that it’s a good time to buy and try to get their projects sold.
Here’s what the company told 10News:
“We thought, ‘Why does it just have to be on Pop Tarts and restaurants? Why not buy one home, get one free,’” said Dawn Berry of Michael Crews Development. …
Adam Rossman of Michael Crews Development added, “People have been coming in saying, ‘How can you do this?’ Well, it’s our way of dealing with current market conditions to move some inventory.”