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Part II to the crumbling real estate market is the American Brewery Lofts in Jamaica Plain. According to the Boston Business Journal, the owners are going to put the lofts up for sale starting this Sunday 2/24.

The owners of the American Brewery Lofts in Jamaica Plain are holding a winter clearance sale, offering the first 20 buyers a $30,000 discount each in hopes of pushing the project past the 50 percent sold mark.

Further, the first 10 buyers will each be eligible to receive up to three $5,000 coupons they can use toward closing costs, hardwood floors or for sealing and staining floors, said Michael Dorion, a sales associate with Coldwell Banker Residential Brokerage who is marketing the lofts. The next 10 buyers will only receive the $30,000 discount.

These particular lofts are priced between $299,000 and $700,000. I think it's an interesting ploy - it creates a sense of urgency in consumers to try to be the amongst the first ten buyers. But at the same time, they might be shooting themselves in the foot because the 11th customer is going to be pretty upset. If it were me, I'd be upset enough not to buy if I wasn't one of the first ten.

Click (here) to read the BBJ article.



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1 Response to "Real Estate Deals in Boston - Part II"

  1. Dan Dan Said,

    But I think at least part of the idea is to get the word out that there's a deal to be had so people otherwise unlikely to check it out might swing by and see something they like.

    Posted on 2/21/08, 8:06 PM

     
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