Saturday, December 23, 2006

Pulte New House: 88% Off

This story has it all: incentives, a change in psychology, a cancellation, the flight of buyers, and finally a fire sale auction. Think of this as Sacramento's 2006 housing market in miniature. Bob Shallit has the scoop:

Discount digs: The declining real estate market has produced some bargains. But none like this: a Pulte-built home with furnishings and toys from outdoor gear retailer Cabela's, plus lots of extras.

For $5,000.

OK, this isn't exactly a full-sized residence. It measures just 8 feet by 8 feet. The furnishings are all pint-sized.

It's a playhouse, left over from the biannual "Dream, Play, House" fundraiser held in September by the Placer County Child Abuse Prevention Council.

Six local builders created incredible tiny homes for the event. Pulte's "Mother Lode Prospector's Cabin" -- with a sluicelike slide, a hidden cave, rope swing and a miner's cart full of fake gold -- was the auction's top attraction.

It earned an award for craftsmanship and received an auction-high bid of $16,000. But the buyer had a change of heart and stopped payment on his check.

"The home was left without a home," says CAPC's Donna Wood.

Nobody has stepped up since to buy the log cabin house. So CAPC has listed it on eBay (Item No. 200059385693). Minimum bid: $5,000 (including delivery). Deadline for bids: Christmas Eve.

The home actually is valued at nearly $40,000, including the furnishings. Good deal. Great cause.

Looks like something you might find on Burbed.

Have a Merry Christmas everyone!

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