Promotions are moving up in the world! That is the positive spin on the recent “buy one, get one free” deal that a San Diego real estate developer is offering.
Michael Crews Development is offering a new 2,000-square foot cityscape row homes worth $400,000 in Escondido, a suburb of San Diego, for free with the purchase of one Royal View Estate home in San Pasqual Valley worth at least $1.6 million.
A Michael Crews spokesperson said, “We thought, ‘Why does it just have to be on Pop Tarts and restaurants? Why not buy one home, get one free?”
I have one thought on the reason that developers don’t often use that promotional tactic:
Pop Tarts average retail price: $4.99
Crew Development home average retail price: $1,000,000.99
Not to mention the fact that if you try Pop Tarts you might like them and keep buying them but if you buy a house you’re likely to stick with it…at least as long as you can pay the property taxes on the now two properties that you own.
The spokesperson continues, “You know it’s a straight-up legit deal; no prices have been increased, there are no hidden costs. Michael is just giving away a free home for people that buy at Royal View.”
At least is clears up Michael’s inventory. With an anemic (but not recessionary, the definition of a recession is two consecutive quarters of negative GDP growth and we have not yet had one negative quarter) 0.6% economic growth rate and a rising stock of homes that there just isn’t demand for I guess that it makes sense to try and jump-start sales with a promotion.
This idea certainly beats a wacky waving inflatable arm tube man.
It still is a shock to the system to see houses sold with the same price tactics that 20oz sodas are sold for…though if you can afford it now is a good time to buy.