New Houses Are Now "Buy One Get One Free" In San Diego

Michael Crews Development has a proposition for you. If you buy one of his $1.6 million-and-up, 2-acre estate homes in the San Pasqual Valley, he’ll toss in a four-bedroom row home for free!

The San Diego Union Tribune asked the company what they were thinking:

“We want to reduce our inventory,” Connal says. “We’re prepared to bite the bullet. … Right now, every builder I know is selling houses at less than it costs to build them.”

Connal insists the sales prices are legitimate. The first few row homes sold for about $540,000. The market subsequently went south, and the price dropped to $400,000. Several of the 2-acre estate homes closed escrow for between $1.6 million and $1.8 million.

Apparently, they’ve only gotten one offer — but instead of a BOGO, the buyer wants to trade his current house toward one of Michael Crews’. They’re thinking it over.

Buy $1.6 million estate, get a row home for free [SDUT]
Buy One Get One Free [Austen Real Estate Blog]
Michael Crews