Buy one home and get a second one free

re: Buy one home and get a second one free

Chris — Wed, 30 Jul 2008 17:47:17 GMT

Mia B, by the way... did you hear about the Extreme Home Makeover family that is going to lose their house to auction because they put it up as collateral on a $450,000 business loan gone bad? I don't think people deserve freebies like this, because quite often they'll squander it like this family! They had the house free and clear and still managed to make a poor decision which has resulted in the loss of the home that was given to them! Talk about greed...

re: Buy one home and get a second one free

barb — Fri, 06 Jun 2008 22:24:59 GMT

miab has a great idea! It doesn't help the need for less housing, utilities,highways and so forth, however. How about they just quit building......we still need our green beautiful America!

re: Buy one home and get a second one free

phd7 — Fri, 06 Jun 2008 22:13:07 GMT

I agree with David. This is a publicity stunt to sell the estate homes. The owner will try to sell try the smaller home most likely at or below market value and the proceeds would go towards the larger home. But with the current conditions, what will end up happening is the smaller house will sit on the market and drag down the comps in the neighborhood. The owner will be paying PITI on both (even if the call the smaller home "free") and in the end they will both end up in foreclosure. The developer will have his money, the owner will lose everything and the bank is saddled with two more houses to try to unload.

re: Buy one home and get a second one free

ssnky — Fri, 06 Jun 2008 20:00:07 GMT

OMG! Why would you live there. With the whole country to choose from at a much lower cost of living. I like the city too, but not at that kind of expense.! We only get to go around one time, why would kill yourself trying to pay for something you can't afford or don't really want. Sounds like Californiia is ready for Forclosure as an anti-dote to get back to the reality of what's important in life.

re: Buy one home and get a second one free

paula — Fri, 06 Jun 2008 17:53:17 GMT

i agree with chirs and spaceage 4 eva....you overbuild you pay the price. i think everyone shold stop buying overbuilt, overpriced homes anyway! let the builders eat em!

re: Buy one home and get a second one free

rthom — Fri, 06 Jun 2008 17:39:03 GMT

BOGO was a marketing ploy...really not the issue. The problem is building houses that are not affordable; a waste of our resources and further damage to an already shaky economy. It is greed...when is enough, enough??

re: Buy one home and get a second one free

SP — Fri, 06 Jun 2008 16:59:54 GMT

Spaceage and Chris, I definitely agree. I am in the country and building out here makes no sense when they pass up 100,000 empty houses on the from the city.

Plus we do not want the overpopulation. We like it the way it is. It is funny that the developers never live where they build!!!!

re: Buy one home and get a second one free

STILL OWN MY HOUSE BUT SURROUNDED BY FORECLOSURES!!! — Fri, 06 Jun 2008 16:36:11 GMT

How about the builders stop flooding the market with houses. They are driving down the prices for everyone including themselves. They helped create the mess with all the subprime loans by convincing people they could afford way more house then they could. Just google DHI mortgage (owned by DR Horton, a home builder). Forget getting a buyer's agent to represent you. Most of them work with the builders and get incentives for bringing you in (cash, cruises, etc). WAKE UP PEOPLE STOP FILLING THE POCKETS OF THESE GREEDY JERKS. THEY ARE DESTROYING OUR ECONOMY!!!!

re: Buy one home and get a second one free

CP — Fri, 06 Jun 2008 16:20:04 GMT

I see im in the minority in this blog. LOOK....you have a CHOICE if you dont want to buy those houses, or whtever...But dont tell me how or what i need to do if I get one of these deals. You people can ride your bike to work, not flush your toilet, and take baths once a week, whatever you do. I will tell you "NO THANKS", and proceed to brush my teeth in the shower and doing as i please. I dont need you people, or for that matter Osama-Obama and his socialist agenda being pushed on me. If I have worked to get where Im at, then I aint gonna have mia, osama, or anyone else telling me how to use my dollars. Peace out

re: Buy one home and get a second one free

James — Fri, 06 Jun 2008 16:14:14 GMT

Yusra is right ... in San Diego, a $1.6 mill home is more common than you think ... and it is not acreage, it is usually location location location ... beach communities charge an arm, a leg, first and second kid, your fortune, your soul ... but this could be interesting to buy one and then rent the other (so it can help pay for the first) ... if someone wants to give away the 2nd, let them ... but it is their decision ... lots of people have parents/relatives ... now they can put them somewhere ... we live in Escondido and got in Dec, 1998 for $229K ... same house last year was estimated at $640K - currently around $540K or so ... I couldn't afford my own house now ... housing is so insane. But I love San Diego so much - despite the high gas average of $4.35 a gal ... no tornadoes or hurricanes here ... and weather to die for. Though it does get dry. If buyers simply did not buy the insane prices, they would go down ... but they think it will just go up and they buy without thinking ... for loans that make no sense at all.