RealtyStore Real Estate Blog

The housing crisis could not get much better for serious real estate investors. A San Diego housing developer has helped put it all in perspective. Through June, Michael Crews Development is extending an offer that essentially grants the buyer of one of his luxury estates a second home–for FREE!

Reuters
June 3, 2008

“SAN DIEGO - As though Southern California’s fine weather and beaches weren’t attractive enough, a San Diego developer desperate to clear inventory is offering potential home buyers a buy-one-get-one-free scheme.

“In a market beset with foreclosures and plummeting sales following the mortgage meltdown in 2007, Michael Crews Development will give away a row home valued at $400,000 with the purchase of a $1.6 million luxury estate home in the upscale city of Escondido in northern San Diego County.

“‘We are targeting a niche market of investors who are interested in the opportunity to buy a new home for themselves and get a free rental property or second home for family members,’ developer Michael Crews said in a statement.”

Get the Full Story, Slow Home Sales? Buy one, get one Free in San Diego, at Reuters.com.
Copyright 2008 Reuters