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damikco
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Buy a house, get a car
Easton, Maryland (CNN) -- New appliances and vacation packages aren't unusual giveaways in the housing slump, but one woman is taking the unorthodox step of throwing in a car with the purchase of her home.


Catherine Poe is throwing in a Toyota Prius hybrid with the sale of her renovated Maryland house.

"My daughter came up with the idea," Catherine Poe said. "We're losing money on the house, and the Prius only adds to losing money, but we also realize it's time we really got to sell the house."

Poe and her daughter bought the 1907 three-bedroom colonial in Easton, Maryland, in 2005 as an investment property.

In the past, the pair has bought two historic homes within minutes of Maryland's shoreline, renovated and resold them during a red-hot housing market.

Poe said she and her daughter bought this house for $335,000, spent $300,000 restoring it and were hoping for a $40,000 profit when they first put it on the market.

But after more than a year
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EL34EL34 - 7/20/2008 11:49:04 PM
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I have a beach front listing and the seller is including all the really nice furniture, 2 plasma TV's and a 7.1 Pioneer Elite system.

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PrancingHorsePrancingHorse - 7/21/2008 4:35:00 AM
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This is just the calm before the storm folks, stupid yanks listening to their doofy president 6 yrs ago about spend,spend,buy,buy.Being in the International Hedge Fund markets we saw this coming in 2006.Glad i still have my house in Italy if USA goes down the flusher.

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RupertRupert - 7/21/2008 8:04:04 AMView My AgentSpace
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Italy isn't exactly doing well either...


dumpstydumpsty - 7/21/2008 9:41:52 AM
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I don't think lil' Bush is completely the blame on the housing bust.

You can maybe place some blame on the real estate agents that "cut corners" and approved loans to hundreds of thousands of unqualified people for amounts they should have been flat-out disapproved for. In many situations, 1st-month mortgages weren't even paid one these high-dollar home loans --- mostly-likely "flippers" that discovered that their asking price was ridiculous or fell behind a tight re-modelling schedule.

Much of the blame can be placed on the real estate hedge fund industry that has gotten many historically prudent financial powerhouses in trouble as of late.

There are so many dynamic factors that 1 or 2 sources can't take all the blame.


0to600to60 - 7/21/2008 12:31:30 PM
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dumpsty , Real Estate agents do not grant loans. Lenders and banks do.


dumpstydumpsty - 7/21/2008 3:34:04 PM
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You get the point though. Agents work with lenders that bend the rules/restrictions in order to get a sell to go thru. Not saying every agent has done it, but there are quite a few people out here that can't afford the loan they signed for.


damikcodamikco - 7/21/2008 4:09:10 PMView My AgentSpace
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did you know that dealerships and banks do the same.


WorldofLuxuryWorldofLuxury - 7/21/2008 5:28:18 AM
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I once considered the idea of leasing homes with a car, but all the paper works, customer suspicions, and lack of overall convenience killed the idea. It was a good idea though...just not sort that you can think of right off your mind and accomplish it with a simple signature.

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motor1motor1 - 7/21/2008 8:45:03 AM
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This article is kind of confusing.

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dumpstydumpsty - 7/21/2008 9:46:17 AM
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About 1 or 2 years ago, there was another home seller in Maryland attempting to raffle his home away. Thinking people in the region were going to rush to buy $100 tickets to have a chance to win a $400-500k home with a portion of the profits going to charity....it severely backfired. Low ticket sales rates marred the contest and not info has been shared since.

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0to600to60 - 7/21/2008 12:34:15 PM
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There was an uptown Charlotte condo builder giving away Porsche's to agents that sold a condo in the complex. The Real Estate commission jumped on them real fast about that one due to some scandals that went down with Beazer here. They have since stopped :-(

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AgentOrangeAgentOrange - 7/21/2008 3:19:08 PMView My AgentSpace
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It'll soon be - Buy a car, get a house...

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dumpstydumpsty - 7/21/2008 3:36:28 PM
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haha...yeah.

Anyone remember when a GM dealership in the midwest was giving away an Aveo with the purchase of a new pickup. I guess the tables have turned...now they should be giving away an SUV or truck with the purchase of a compact/sub-compact vehicle.
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