Builder Sells Homes at Bargain-Basement Prices

Oregon's third largest builder, JLS Custom Homes announced today that their entire inventory of homes built in 2008 will be liquidated beginning April 27, along with inventory from two other area builders.
The entire sale will include 152 homes from 20 communities that span from Salem, Ore. up to Woodland, Wa.
JLS inventory will make up about half of the homes that will be offered in the liquidation. The homes being liquidated by JLS are from the company's stock of completed, but unsold 2008 home inventory. 
The homes range in size from 1,438 square feet to 3,793 square feet and will be priced from $159,950. All homes in the liquidation sale must be sold by June 30.
Unlike other area builders who have liquidated inventory as part of the chapter 11 process in bankruptcy, JLS remains on solid financial footing.
"The downturn in the residential home market is no secret to anyone," said Jason Sage, owner of JLS Custom Homes, in a statement. "We reduced our building pace from previous years, but it wasn't enough as last year's demand really plummeted."
The homes offered in the sale are in the following communities, Vancouver (26 homes), Hillsboro (20 homes), SW Portland (8 homes), Aloha (7 homes), Gresham (6 homes), Beaverton (1 home), Happy Valley (1 home) and Salem (1 home).  The individual communities include;
 
Creekstone, Happy Valley, Ore.
Deer Ridge, Gresham, Ore.
Eagles View, Salem, Ore.
Evergreen Park, Hillsboro, Ore.
Hanson Meadows, Beaverton, Ore.
The Oaks, Vancouver, Wa.
Rock Ridge Gardens, Hillsboro, Ore.
Parkview, Vancouver, Wa.
Westhaven, Portland
York Park, Aloha, Ore.
Woodridge, Vancouver
 
The home liquidation will also include 82 homes from two other award winning builders, Pacific Lifestyle Homes and Legend Homes.  The new home liquidation will be managed by the local home liquidation firm and prominent website, "NewHomeSale.Org".  NewHomeSale.Org has managed the liquidation of over 87 closed sales since the fourth quarter of 2008.
The additional home inventory will include 44 Pacific Lifestyle Homes in Vancouver, WA. and 38 Legend homes in the Portland area. Both builders are in chapter 11-reorganization and went through a similar liquidation earlier in the year. The new inventory includes recently completed homes.
All homes must be sold by June 30, 2008. Homes are offered on a first come, first served basis and will be removed from the liquidation once an offer has been accepted. Interested buyers can see the entire inventory at: www.NewHomeSale.Org.