Sunday, July 30, 2006

USA TODAY: frontpage news

From the most circulated newspaper in the country: To drive sales, 75% of builders are now offering some kind of incentives to attract buyers, up from 50% who did so last year, according to the National Association of Home Builders. "These builder-developers understand the solution to the slowdown to the market is to quickly liquidate their inventory," says Ron Peltier, CEO of HomeServices of America.

In Woodbridge, Va., George and Susan Garrigan listed their home for $449,000 in March. After two price reductions and still no takers, they took it off the market. They painted the interior, landscaped the yard, put in new carpet and exposed the hardwood floors.

Now it's back on the market for $439,000. And there's a new car in the driveway with a sign: "2006 Corolla Free with Purchase of our Beautiful Home."

"You have to do something to stand out," says their agent, Barbara Tivnan. "There's so much inventory, and there's just not that many buyers."

Click here: USA TODAY LINK



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