Huge Bargains in a Weak Economy
Prices on almost everything are at historic lows. In the short term, some will go up and some will go down, but there are deals to be had that were unthinkable even as recently as six months ago. Some of them will surprise you...
Posted 15 Apr 2009
The 2009 Cadillac Models
If you're in the market for a Cadillac you can expect serious savings:
Cadillac Escalade: Selling for around 70k, you can get $6,500 off immediately as an incentive to buy. GM is also offering 0% financing.
Cadillac XLR: The most expensive car on the lot with a base price of $82,000 (more decked-out models cost closer to $100,000). You can now snag the $82,000 model of the XLR for about $72,000, plus tax and licensing fees. Dealers say that you can expect to get markdowns of $12-14,000 in dealer cash and incentives.
Cadillac CTS: The most popular Cadillac model, the CTS sedan (2009) prices out at around $40-50,000, but buyers can get nearly $6,000 off the MSRP right now with incentives can ranging from $5,500-8,500 in some cases.
Beyond these deals, GM is offering 0 percent financing for up to 5 years on many models and has also launched the “Total Confidence Program” which covers 9 monthly payments of up to $500/month if you lose your job.
Country Club Memberships
Even before the recession really hit, many country clubs were suffering. This is causing many high-end clubs to do something in order to make sure they don’t suffer further attrition.
The clubs associated with the highest end golf courses have been quiet not to let details of any discounts leak out, but Michigan's Oakland Hills Club, which hosted last year’s PGA championship, reportedly has dropped its initiation fee from $110,000 to $60,000
Other examples include:
The Golf Club of Cape Cod – If you became a member last year, your initiation fee was $85,000. This year, there’s no extra charge.
Del Rio Country Club in Modesto, CA – Their initiation fee reportedly has been slashed from $35,000 to $10,000.
Kenwood Country Club in Cincinnati, OH – They’re still charging a $50,000 initiation fee, but will now allow you to spread out payments over ten years.
But the best deal is in Tampa Florida – A company that owns four private country clubs in the area is offering joint membership to all the clubs. That’s 99 total holes of golf, 59 tennis courts, 6 pools, 10 percent off cart rentals and 25 percent off food and beverage purchases. The cost? A $250 initiation fee and monthly dues that average about $350.
South Florida Real Estate
This economy is creating opportunities of a lifetime for buyers in the south Florida real estate market, with some prices down nearly 80% from their high water marks, which puts buyers in direct competition with investors.
Since 2003, there have been 23,000 new condo units flooding the South Florida market, and now 37% of the existing units are for sale, a number which is more usually around 10 percent.
Here are some examples of steals and deals in the South Florida market:
South Beach – Luxury complex originally asking $1.5 million has now dropped to the high $600,000 range.
In Miami’s Financial District – One property was originally priced at $700,000, but dropped to $130,000.
Single family homes are also looking to be approaching a bottom, selling for as little as 20 percent of their value highs.
Even the highest end real estate is being affected, with $10 million homes dropping in price down as far as $5 million.
Sports Tickets/Stadium Concessions
If you’re looking to go to a sporting event, now is the best time. Sports teams and events are being forced to cater to the fan more than ever before.
MLB Deals
Want the ballpark and a beer? PNC Park in Pittsburgh gives you the best deals, where you can get a 21-ounce brew for $4.75, a 20-ounce soda for $2.50 – the cheapest in the majors. The lowest average ticket in the league goes to the Arizona Diamondbacks at less than $15 per game. Tired of paying for parking? Charge for parking at a Tampa Bay Devil Rays home game: $0.
Dodgers Deal: For most games in Dodger Stadium, for $25 you get an all-you-can-eat deal at Chavez Ravine, which includes foot-long Dodger dogs, Nachos, peanuts and popcorn.
Kentucky Derby Tickets
For another “deal” head over to the Churchill Downs, where ticket prices are falling. The average price for a ticket is $448, which does not sound cheap, but is down considerably from the previous two years.
Antiques
If you are a collector, this is the ultimate buyers market. With a flood of top-quality items hitting the market this year, prices are falling and demand is weak. On mid-market items, prices have been reduced by thousands of dollars from only a year ago.
Dealers say they've seen new willingness to spend – some might feel too flashy driving a $65,000 luxury car but don't feel as guilty spending that same amount on a piece of history that their neighbors won't necessarily see.