The Real Deal Miami

Getting creative to get rid of inventory

February 09, 2009 01:36PM

Developers around the state are taking creative steps to get rid of housing inventory. Veterans Retreat, a not-for-profit charity, is raffling off an 850-square-foot, one-bedroom unit in an unidentified condominium on the waterfront in Miami Beach. Tickets for the raffle cost $100. In Orlando, one home was given away this weekend to an attendee at a $10 event for distressed homeowners. In Titusville, the buyers who purchase the last two townhouses available in Nova Villa Townhome’s first phase will receive a free 2008 Ford Focus with each townhouse. Nova Villa Townhome isn’t the first development to offer free cars to unit buyers – Miami’s South of Fifth development did so in November. TRD