Fulton Homes’ Estrella Commons.
Fulton Homes launches ‘No Waiting, No Lottery’ campaign to counter resale bidding wars
Fulton Homes, Arizona’s largest family-owned and -operated homebuilder, has announced a new sales process, implemented to ease the burden that potential homebuyers face. “No Waiting, No Lottery,” emphasizes simplification, allowing families to circumvent bidding wars, waiting lists and lottery systems to secure a new home.
“We realized the current market conditions, and wanted to remove pain points in a competitive real estate market,” said Doug Fulton, CEO of Fulton Homes. “In ‘No Waiting, No Lottery,’ earnest money serves as a deposit to start the process of owning a brand new home.”
Arizona and Phoenix are experiencing a seller’s market, which is characterized by low inventory of available homes, escalating values and multiple offers on newly built homes in short order, which means potential buyers have minimal leverage in the process. These market conditions serve as a catalyst to institute homebuilder tactics of lotteries or random selection systems to sell limited amounts of new homes or lots.
“‘No Waiting, No Lottery’ is a commitment to certainty in a time of flux,” added Fulton. “Our market is unique: We have a flow of families moving in from out of state, limiting their time to participate in bidding wars. We also have more people than ever working from home, so our new home plans feature a renewed emphasis on working from home, including dual offices.”