Buyers' recourse: protecting home cost, an article from The Denver Post, reports that more and more developers are offering price protection programs. Celebrity Custom Homes puts 10% of the sales price into an escrow account. If after three years the home has depreciated, the buyer gets the money. The Landmark in Greenwood Village is offering a buyback program for the last 12 condos in its first tower. After living in the residence for three years, buyers can exercise the buyback option if their property has depreciated. Byers Street Properties is offering a price-protection program for it's Berkeley Row project that is based on the S&P/Case-Shiller 20-city home price index. The company will refund a portion of the sales price equal to any decrease in the index over the subsequent year. By offering these programs, developers are expressing their confidence in the market.
http://www.denverpost.com/businessheadlines/ci_11151968
http://www.denverpost.com/businessheadlines/ci_11151968
