uced prices on a Lake Elsinore development, even as it promotes small houses for families looking to economize. “It’s marketing departments trying to get creative, said Robert Martinez, director of research at MarketPointe Realty Advisors in San Diego. “People tend to get warmer and fuzzier if they see the word ‘sale.’ Maybe they think they’re getting a deal.” At one house at Brookfield’s Rockrose at Foothills development in Carlsbad, the company gave away upgrades and discounts that added up to $48,000, a discount of 7 percent from the $666,000 price tag, said Lora Heramb, vice president of sales and marketing for Brookfield Homes. New homes typically sell at higher prices than used houses. The median resale price of houses in the 92010 ZIP code of Carlsbad in February was $500,000, according to the North San Diego County Association of Realtors. Pardee’s Silverthorne at Canyon Hills project in Lake Elsinore is also reducing prices, according to a news release this week. Houses are priced “in the low $200,000s.” The median price of houses in Lake Elsinore was $226,000, according to data from the Riverside County Assessor’s office. Two sales at the Rockrose development in Carlsbad fell through as buyers backed out, one because of a layoff and the second because of a job transfer. But the bigger challenge for new-home sellers — as it is for sellers of used homes — is getting buyers who qualify for loans. “Our cancellation rate is higher than it has been in the past,” she said. “I attribute most of that to the very, very challenging lender restriction that we have now.” CLICK HERE TO SEARCH FOR GREAT HOME DEALS IN YOUR AREA
Call Me Today for All Your Real Estate Needs! Heather Paul, Realtor (310)586-0364 “Your Local Real Estate Expert”
Homebuilders are holding discount sales or reducing prices to fight the headwinds of tightened lending standards and weak demand from buyers, some builders said.
Real Estate News: Builders offering Deals to Move Property
0 comments • Heather Paul • March 21 2011 09:36PMContent © 2013 'Frequent Contributors'. Design © 2013 Market Leader, Inc. All rights reserved, Inc. All rights reserved.
Logos and service marks owned by copyright holder.