How can they do this??

[deaconpark]

Quoted in Monday's Cleveland Plain Dealer

"CLEVELAND Slumping sales are forcing Cleveland-area condo developers to offer free washers, dryers and even cars to lure buyers.

The Northern Ohio Regional Multiple Listing Service says condo sales in Northeast Ohio are down 28 percent from a year ago. Developers hope free incentives will help sales.

Developer Ken Lurie promises a free SmartCar to anyone who will purchase a condo at Bluestone, his complex in suburban Cleveland Heights. Officials in the Cleveland suburb of Shaker Heights recently offered buyers $190,000 in grants if they purchase long-vacant condos. "

I wonder if the smartCenter Bedford knows about this guy and how he can come up with smarts to "throw in" to the deal. Not sure if there are multiple condos for sale and if so, does he have a line on other smarts? Wonder also if smartCenter would throw in a condo if you purchase a smart
Russ

[curtis]

probably puts them on the reserve program and they have to wait to get it!

[jwight]

Could be wrong, but I have a feeling smart center Bedford knows all about this.

[Dunerunner]

jwight - You don't miss much - My dealer had an Orphan being "preped" and I was told by the service manager and sales manager there was no disposition on the car and to ask about it. Turns out a local Propane distributor was using the car as a promotional incentive, per the GM. Orphan?

[Big Panda]

Originally Posted by jwight

Could be wrong, but I have a feeling smart center Bedford knows all about this.

you're probably right, John. they may have worked a deal for orphans that would allow the dealer to make an extra profit and give the builder some incentives for their customers. a 'win-win' situation for THEM.....but NOT for all the OTHER people on their 'orphan list'.

[PerryA]

Orphan Smarts for Orphan Condos.

He has five, from one local report. but then how reliable are the TV guys (sorry all you TV 'journalists' out there, it's a comment on the local media). They showed one Smart, so it could be a spot on the waiting list after the first buyer.

The other side is, if he's buying orphans, with the dealer pack on them, he's paying top dollar. With Cleveland suffering from some of the highest foreclosure rates and a lot (a LOT) of inventory in the local housing market, prices are depressed. There are tax incentives on the condos (like no taxes for 10 years in some cases), but Smart car or not, who wants to pay $190,000 for a condo you can wait a month and buy for $170,000?