Basements selling point for builder

an article from The Arizona Republic, reports that according to Holmes Homes, even in a challenging housing market, basements should drive sales at Nauvoo Station in Queen Creek. All 98 homes in the Manors neighborhood will have basements, with prices from $289,900 to $365,900. Brian Holmes, president of the Arizona division of Holmes Homes said, "I don't know of anyone that has basement homes at our price point. People want basement homes." Most Manors homes will qualify for FHA loans, which require 3% down payments. Holmes added that buyers can reduce those payments with sweat equity credits by painting the home, or doing landscaping work or similar projects before moving in. RL Brown, publisher of the Phoenix Housing Market Letter, said Holmes' basement strategy is reasonable. Brown said, "That could be a differentiation that could work in this marketplace."