"Raise prices," he said. "Buyers aren’t buying because they think you’re going to lower prices again. There’s interest but there’s fear. Raise prices 3-4 percent. And quit giving discounts.”
Fast forward all the way to September 2007:
The sale is part of a nationwide effort by Red Bank, N.J.-based Hovnanian Enterprises to shore up its sales during a major market slump. The company has cut prices by more than 20 percent in prime markets and shaved more than 10 percent off the price of some Triad properties.
"I've been here for eight years, and I'll be honest with you," said Richelle Smart, an area sales and marketing manager for K. Hovnanian Homes.
"We've never offered anything like this."