If the Somersett community in Reno is of interest to you, you may want to check out this link to a weekend "below builder cost" sale between January 26-27, 2008.
The price reductions range from $50K to $150K. You can check out more at Reno Somersett Deals.
The last Monterey Development Group home I helped someone purchase had a lot of issues that the builder needed to fix up (and they did) due to 'less than complete' finish work when the home was built.
If you have any questions about how to further negotiate and ensure a new home is properly inspected (this is IMPORTANT), drop me a line with the comment box below.
From my experience, with most builders once they show the lower price, the "this weekend only" component really means "this price is good until our completed homes (aka standing inventory) is sold".
This pricing is pretty aggressive and I'm sure does not delight those who purchased one of these models in the last 12-18 months.
Broker - CalNeva Realty