The changing real estate market sees a new wrinkle being introduced, as a motivation for sellers to take action. It might be necessary to make sales given an influential economist, Yale University economist Robert Shiller, who says there is a good chance housing prices will fall further than the 30 percent drop in the Depression of the 1930s.

The real estate seller willing to guarantee money back is Lehman Brothers Holdings. They’re promising some luxury-condo buyers their money back after three years of ownership in West Bay Club, a Lehman-owned resort community in Estero, Fla., near Naples on the Gulf of Mexico.

The offer applies to some 200 condo units (priced between $480,000 and $2 million). The resort guarantees they will either sell or buy back the residence at the “full cost of the purchase price three years after closing.”

Look for other developers to use the same strategy (guarantee market value) to move unsold inventory.

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This entry was posted on Wednesday, April 23rd, 2008 at 9:45 am and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.