Developers Offer Incentives To Lure Buyers

Some of the recent incentives to woo homebuyers in a slowing housing market sound more like automobile ads.
August 27, 2006, 9am PDT | Arnab Chakraborty
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Some of the recent incentives to woo homebuyers sound more like automobile ads.
"Buy a new house in one of Pulte Homes' designated communities and get three years of free gas and electrical service and a $500 prepaid gasoline card. Make Engle Homes an offer it can't refuse (within reason) and save thousands on a new home. Move into a house custom-built by Baldwin Homes and get $8,000 toward closing costs or a buy-down on your mortgage rate."

"Unlike in the past few years, when buyers were put on waiting lists to buy new homes, the inventory is building up faster than homes are selling. So builders are offering everything from car giveaways to finished basements, game rooms or home theaters, said John Kortecamp, executive vice president of the Home Builders Association of Maryland."

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Published on Thursday, August 24, 2006 in The Baltimore Sun
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