Homebuilders: Buy Now, We'll Throw in a Car

There are some beautiful floor plans at the Springtown Knolls development in Bucks County, Pa., for single-family homes in the $600,000s. And builder Reshetar Homes offers a housewarming gift to fill your new garage -- a 2009 Toyota(TM Quote) Prius.

"We've offered lots of incentives in the past like finished basements and custom lighting, but with this development a Prius seemed right on target," says sales manager Megan Reshetar. "Springtown Knolls homes are built with the standards of the U.S. Green Building Council, so if we were going to offer a car, it had to be a hybrid."

So far, only two of the 20 homes have been sold, but buyers don't get immediately in the fast lane for the highly coveted hybrids. Just like anyone off the street buying a Prius, there's a three-month waiting list for the $22,000 car after you buy a house at the development. "It's a basic model Prius, but you have the option to pay for upgrades to it," says Reshetar. "Our homes, however, are anything but basic..."

The idea of getting a new car is an enticement. "We've had a number of calls about it, it's definitely generated some interest," she says.

Developer incentives have been around as long as there have been more caves than cavemen. In the post-World War II era, developers often competed by offering the usual accoutrements to boost sales: furniture, appliances, even new-fangled window air conditioners. But during real estate boom years, of course, those incentives dried up and you were lucky to receive a new welcome mat when you sign the sales agreement.