CBH sells 77 homes in weekend promotion 

Between Oct. 23 and 26, CBH Homes received over 100 offers on 200 available houses in the Boise area. Not everyone qualified for financing, leaving the Meridian homebuilder with 77 total sales during its Deal of a Lifetime promotion.

Foot traffic around the company’s sales centers tripled for the occasion.
This year’s promotion sold fewer homes than last year’s promotion (100 homes changed hands during the weekend last year), a difference the company attributes to a tighter mortgage market and the unavailability of subprime loans. The 77 successful buyers came to the table already approved for a home.

“We’re really happy about it,” CBH marketing VP Ronda Conger said. “For everything that’s going on right now, we thought it was a huge success.”
Homes were offered at discounts of up to $50,000. Homes in CBH’s collection currently range from $88,000 to $275,000, with an average price of around $170,000 to $175,000, Conger said. Deal of a Lifetime houses sold for an average of about $160,000.

Last year, homes sold for an average of about $180,000 during Deal of a Lifetime, compared to around $200,000 normally.

CBH has set up a new process to keep in contact and work with potential homebuyers whose credit application its loan program denies.

“Now when we find out someone couldn’t qualify for a loan, instead of saying ‘We’re so sorry, have a great day’ – which is the typical answer, unfortunately – we are able to invite them to join the Homebuyers Club,” Conger said.

When a potential buyer joins the club, CBH puts together a mortgage plan for that person. Club members check in monthly to report on their progress.

“Now we can say, ‘Take this list of things, and if you do them, by this date you should be able to buy a home,’” she said.

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