I got this note today from a BW colleague who shall remain nameless:
A few years ago, I ran into the real estate agent who sold me my apartment on the street. He was washing his Maeserati. I took that as a sign that I was living in a housing bubble. Now: a sign that the bubble is bursting….a service that tips off potential buyers to price cuts right on their cell phones…
And here’s the first bit of the press release he sent me:
FOR IMMEDIATE RELEASE
New Home Shoppers Offered Price Drop Alerts
Home Builder Bargains Via Text Message
BEVERLY HILLS, Calif., July 23, 2008 — Incentive Real Estate, Inc. today announced the launch of its exclusive PriceDropAlerts(TM) service for potential buyers of new construction homes in Maryland and California. PriceDropAlerts(TM) are delivered to a homebuyer’s mobile phone via text message. It provides the recipient with the power to respond immediately to new construction home price reductions. Alerts can be created for single or multiple properties, or for a particular community or builder.