While
shoppers
flock
to
malls
and
online
retailers
for
Black
Friday
deals,

M/I
Homes
is
shifting
the
focus
to
residential
real
estate
with
holiday
incentives
that
rival
traditional
doorbusters.
That’s
right,
there
are
Black
Friday
home
sales!
The
Ohio-based
builder
is
offering
discounts
of

up
to
$20,000
on
select
homes
in
Greater
Houston,
along
with
no-cost

2/1
rate
buydowns,
and
slashing
prices
by
as
much
as
$93,850
in
other
markets
like
Chicago.

The
promotion
applies
to
select
homes
in
various
housing
developments
across
multiple
cities.
For
instance,
at
Lone
Star
Landing
in
Montgomery,
Texas,
M/I
Homes
is
offering
discounts
ranging
from
$7,500
to
$20,000
on
specific
properties.

Magnolia
Ridge,
one
of
the
participating
housing
developments
in
the
Greater
Houston
deal,
is
offering
$7,500
to
$7,500
off

select
homes,
with
a
few
of
the
homes
seeing
prices
drop
from
$289,200
to
$244,990
and
$248,590
to
$239,990. 

The
home
builder’s
holiday
incentives
range
by
location.

Chicago’s
offerings
include
doorbuster
deals
on
Quick
Move-In
homes,
which

reduce
pricing
up
to
$93,850
if
the
home
closes
this
year.
Buyers
using
this
incentive
can
qualify
for
either
a
3/2/1
rate
buydown
on
a
30-year
FHA
Fixed-rate
Mortgage
or
a
3/2/1
rate
buydown
on
a
30-year
conventional
fixed-rate
mortgage. 

Several
areas,
including
Central
Ohio,
Greater
Austin,
Texas,
and
Charlotte,
N.C.,
offer
a
“Holiday
of
Homes”

incentive
that
varies
across
areas.
In

Charlotte,
borrowers
to
lock
in
a
lower
rate
on
select
Quick
Move-In
homes
that
can
close
by
the
end
of
the
year.
Per
M/I’s
website,
the
lower
rate
includes
a
2/1
rate
buydown
on
a
30-year
FHA
fixed-rate
mortgage,
a
2/1
Rate
Buydown
on
a
30-year
conventional
fixed-rate
mortgage,
and
paid
closing
costs. 

But
in

Greater
Austin,
the
“Holiday
of
Homes”
offers
flex
cash
—
which
can
be
used
towards
design
selections
or
structural
options
—
and
financing.
Buyers
can
receive
3%
of
their
home’s
base
price
to
use
toward
financing
costs
or,
for
homes
that
close
by
December
31,
2024,
secure
a
2/1
temporary
mortgage
rate
buydown
with
first-year
rates
as
low
as
2.875%
(FHA)
or
3.875%
(Conventional),
along
with
2%
of
the
base
price
applied
to
allowable
closing
costs.

The
discounts
come
as
homebuilders’
confidence
in
the
market
remains
muted.
The

National
Association
of
Homebuilders
reported
in
October
that
builders
used
sales
incentives
in
62%
of
transactions
in
September.

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