Real Estate

Southern California is full of beautiful beaches, warm weather, and free homes? A San Diego developer is trying hard to clear away some of their inventory to potential home buyers by giving them a chance in a lifetime.

Michael Crews Development is giving away a row home that has been valued at $400,000 when someone purchases a 1.6 million luxury estate home that is located in the upscale city of Escondido. “We are targeting a niche market of investors who are interested in the opportunity to buy a new home for themselves and get a free rental property or second home for family members,” developer Michael Crews said in a statement.

The developer said that the 2,000 square-foot row homes are in good condition as are the four bedroom, four bath, swimming pool, and six car garage luxury estates that are being sold. “People don’t expect to get what they are getting with the row-homes,” said marketing director Dawn Berry. “These are well appointed luxury houses.”

The offer was only supposed to last for two weeks in May – but they are giving buyers more of a chance to think it over and have extended it to June. Since the offer began one man has made an offer to purchase the Royal View estate home – but has declined the free row home.

“If you don’t know what to do with your free home, you could always give it away,” Berry said.

That would be welcome help for many a young buyer struggling to get a loan amid tightening credit rules that require larger down payments and established credit histories.