Housing: Builder offers buy-one-get-one-free deal; Sagging real estate market has hurt developers May 09,2008

Submitted by lusk-admin on Tue, 07/10/2012 - 16:56

...Still, the buy-one-get-one promotion is unprecedented, said Tracey Seslen, a real estate professor at the University of Southern California.

"Builders and banks are getting desperate. They don't want to have that inventory on their books for any amount of time," Seslen said. "The goal is just to sell, because having a house sell for $100,000 is $100,000 more than they would have otherwise."...