Saturday, August 26, 2006

When it sounds too good to be true...

From the New York Times:

Offering Prizes to New-Home Buyers

BUYERS are said to have the upper hand these days in the market for residential real estate, and this is reflected in the elaborate presents and price breaks that consumers are being offered to purchase homes in new developments.

At the Ocean Acres at Barnegat development, where hundreds of single-family homes are being built near Barnegat Bay, several buyers await delivery of new Toyota Yaris hatchbacks, which will arrive in their garages early next year at the time of their closings, courtesy of the developer, Walters Homes.
The Kaplan Companies of Highland Park, for one, appears to be going to unusual lengths to persuade prospective buyers that they have nothing to lose by making a purchase. For the next 60 home buyers at its current New Jersey projects — Towne Lake and Harbour Pointe at La Mer, both in Sayreville; the Heights of Hampton; the Woodfield at Mount Olive; the Villages at Cinnaminson Harbour; and the Ambiance at Hackensack — the company is offering a plan intended to provide full protection against the vagaries of the housing market over the next three years.

“We will buy back any home we sell — at the price paid — at any time in the next three years, should the market price of that home fall,” said Jason Kaplan, president of the Kaplan Companies.
As always with eyebrow-raising offers, certain conditions apply. For example, there is the matter of setting a price for a customer’s current house. “We will buy at market price, based on comps” — sales prices for comparable homes in the same neighborhood — “factoring in a real estate broker’s commission,” Mr. Kaplan said.


Anonymous Anonymous said...

Guys a whore.

8/26/2006 08:58:00 AM  

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