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The Seller Frenzy of Buyer Incentives

Continuing on our theme of those once smug sellers who’ve now been slapped into humility, it appears that some sellers are doing more than slashing prices. The L.A. Times ran a story yesterday about some of the buyer incentives that desperate sellers are offering to unload their houses. What can the finicky buyer pick up as an extra for buying a home? A Toyota pickup truck, a Prius, plane tickets to Europe, a plasma TV, a fur coat, solar panels, a $10,000 gift card, a decorating gift certificate, a time share, a trip to Vegas. In one case, the buyer’s agent will get a Maserati. (Though, we ask, does the buyer’s agent really need any more of a windfall?) And builders are in on the bonus gift game too: they’re offering swimming pools and lower interest rates.

Over at Franklin Avenue, they found a Los Feliz seller willing to pay six months of the buyer’s mortgage or buy them a car.

We can’t help but wonder why sellers don’t just drop their prices. But that’s just us.
· A Maserati- As Bait [L.A. Times]
· Desperate Home Sellers [Franklin Avenue]