13 Families Camp Out To Buy New Homes
A nearly forgotten real estate ritual--the home buyers’ camp-out--has resurfaced briefly in Ventura County. Kaufman & Broad Home Corp. says 13 families pitched tents the night before the opening of the firm’s California Landings project in east Ventura.
“It’s a phenomenon we haven’t seen since 1988,” Kaufman & Broad spokesman Greg Romano said. “Apparently, people decided the houses were well-priced for the market, and they were willing to stay up all night to make sure they got one.”
On the opening weekend late last month, Kaufman & Broad sold 17 of the tract’s 31 houses, Romano said. He added that the developer didn’t even build a model of the two-story homes, priced in the low $200,000s.
Twenty-six of the houses have been sold, Romano reported.