Now they can do both -- at the same time. A nest egg of up to $11,000 in a College Illinois savings plan is just one of the creative goodies that builders are offering to get potential buyers out of the house and into a new home. These incentives are more important when a slow housing market collides with year-end sales doldrums.

The perks can range from outright price cuts of tens of thousands of dollars, to bargain-rate mortgages and other financing, to extras and options you can see and touch, such as 42-inch plasma TVs, deluxe kitchen appliances, hardwood floors and luxury bathroom packages.

Town & Country Homes' idea is to give a jump start to a college education for children of new-home buyers at their eight area developments. Many of those buyers are couples with adolescents approaching college age.

"Buyer response to this program has been fantastic," said Kathy Hoshor, vice president of marketing for Town & Country.

The plan allows home buyers to invest up to $11,000 of their purchase price into College Illinois, a prepaid tuition program that lets parents save for college in a tax-free fund as long as the money eventually goes for tuition and fees at any college or university across the country. For more information, visit the Town & Country Homes Web site.

Year-end extras and price cuts are expected during this time of a normal sales year, and these times are less-than-normal, according to Steve Hovany, president of Strategy Planning Associates, housing consultants based in Schaumburg.

"In slow periods, where everyone basically is selling the same thing for the same price, you have to have the weekend sale or giveaways to get the sale," he said.

"Builders offer incentives, which has the same effect as cutting prices," Hovany said. "You don't want to cut the prices when you have sold the same house to the people across the street for more money. In a slow market, basically what you have is a sales incentive. If you will close now, I will throw in $50,000 worth of stuff, that only costs me $20,000."

Locally and nationally, the sales volume of entry-level homes has picked up as more mid- and high-priced homes remain on the market, Hovany said.

"From everything I see, pricing for next year will be anywhere from flat to 3 percent higher," he said. "Basically, the market will stabilize until inventory catches up."

Last year, Cambridge Homes, the area's largest home builder, was having a banner year and did not have, or need, any incentive programs to get buyers into the sales offices, according to David Smith, Cambridge vice president.

This year in October, Cambridge started offering a program of $10,000 price breaks or on packages on all of its single-family houses, and $8,000 to $10,000 on multifamily housing, Smith said.

"They can have it any way they want it," Smith said. "For options, for closing costs, for a buydown of interest rates. We want to personalize for whatever their needs."

Smith declined to estimate what this year's sales will be other than to say they will be more like a "normal" year. Last year, Cambridge led the area in sales with 1,847 closings, valued at $516.6 million. The closings in 2004 were 1,527 valued at $447.4 million. Both were "an anomaly, that was a once-in-20-year event," he said.

"I don't think interest rates will move around much because of the softness of the market right now," he said. "Interest rates have been bouncing around very close to what they were last year."

It is too soon to tell what the recent election of a Democratic Congress might mean to the housing market or interest rates, he said.

"We recognize that the perception of the marketplace has changed, and we want our buyers to know this is a great time to buy," Smith said. "And we want to put our money where our mouths are." Details on the savings program are available on the Cambridge Homes Web site.

In Chicago, there is an oversupply of newly constructed condominiums and town houses, so incentives are a good way to move them though the sales pipeline, according to Charles Huzenis, president of the Jameson Realty Group.

"The buyers are out there," he said. "So offering incentives is great motivator, and creates a sense of urgency to make that purchase sooner or later. Homes get sold and buyers get a great deal, so everyone wins."

City incentives include breaks on interest rates and assessments and popular furnishings such as stainless steel washers and dryers, flat-screen plasma TVs and hardwood floors. An indoor parking place is also popular in the city, where a parking spot can cost as much extra as the price of the car on it.

The 1111 S. Wabash condominium, for example, is offering a free indoor parking space that has been selling for $35,000 to purchasers of its condominiums, which start at $438,550. At the Eastwood Court Condominiums, at 3106 W. Eastwood, purchasers get a year of free parking, valued at $100 a month, with the price of the rehabbed units ranging from $179,900 to $184,900.

Major suburban builders such as Lennar are building new houses all year long and always have a few on hand for people who must get one on short notice. Some of these can be had at savings of thousands of dollars if purchased before the end of the year using their preferred lender, Universal American Mortgage Company.

For example, buyers who select an early-delivery single-family house at Madrona, in Round Lake, can save up to $45,000 on models with 2 or 3 bedrooms that start in the $230,000s. Large 4-bedroom homes that start in the $340,000s have temporary price cuts up to $50,000.

At Summit Enclave in Shorewood the town houses will be cut by up to $15,000, bringing them to $185,900 to $198,900 for 2 or 3 bedrooms, 2½ to 3 baths and a 2-car garage. For more information, visit www.lennar.com.

Centex Homes is offering a "No Payments until 2008" plan for quick-delivery houses in eight of its developments. The units must be purchased before the end of the year through CTX Mortgage. The plan is designed for buyers who want a new home, but have not been able to sell the old one in a slow market.

"Buyers can concentrate on getting their existing home sold without the added expense of having a mortgage payment on their new home for one year," said Greg Ford, division sales manager.

The houses are at Summerfield in Bradley/Bourbonnais; Sable Ridge in Joliet/Minooka, Copper Springs in Elgin; Hampton Glen in Plainfield, Brookstone Springs in Manhattan, Sweetwater in Woodstock, the Crossings at Wolf Creek in Plainfield and Bristol Bay in Yorkville. Visit www.centexhomes.com.

Quick delivery houses at William Ryan's Sonatas development in Woodstock come with a package that includes no interest payments on the mortgage for the first year, as part of incentives that will total about $40,000.

"Buyers who have purchased a home before know that the interest comprises the bulk of your payment in the first year," explained Maureen Parotto, divisional director of sales and marketing.

Also included are upgrades already built into the houses such as English basements, fireplaces, designer master baths, air conditioning and a morning room in one available house. The 4-bedroom, two-story houses range in price from about $331,000 to $365,500.

Three-bedroom town houses, which will be ready by year's end, are available at $40,000 discounts with prices ranging from about $190,000 to $227,800.

Discounts of up to $50,000 are being offered for rapid delivery homes from Orleans Homebuilders in eight suburban locations. The single-family homes and town houses range from the low $300,000s to the $500,000s. Homes for 2007 delivery get discounts on options.

Buyers using a preferred lender can receive cash back equal to 1 percent of the mortgage amount for a minimum of $3,000.

The last buyers of one of the remaining single-family houses at Aspen Trails in Bolingbrook can drive off with a new 2007 Aspen SUV -- but they have to drive it back in three years. The 4- or 5-bedroom houses start in the $390,000s, including a prepaid three-year lease, valued at more than $20,000. Buyers of any town house, starting in the $280,000s, will receive a prepaid three-year lease worth approximately $14,000 on a 2007 Chrysler PT Cruiser.

"The dollars normally spent on a car payment can now be used as more purchasing power or for decorating your new home," said Dan Kovacevic, principal with Mitroff Group, Ltd.

Many builders have "inventory" or "speculative" homes that they have built to show off their craftsmanship. People moving into an area, who want a new house and can't wait, will find a ready market. Frequently these homes are loaded with extras and designer features that are included in the price.

At Lyons Ridge, in Cary, for example, buyers can find a 3,300-square-foot house, on a half-acre lot ready for spring delivery for $674,900. The extras include a full basement with 9-foot ceiling and rough-in bath; a 3-car garage, a whirlpool tub, and granite countertops.

Three houses are move-in ready at Heron Creek and Sycamore Creek, two sister developments selling out the final homes in Sycamore. There is an upgraded 4-bedroom house at Heron Creek, with a fenced-in backyard, full appliances and priced at $335,000. At Sycamore Creek, two houses are priced to go at $324,800 and $298,500, with 4 and 5 bedrooms. Both have deluxe landscaping and kitchen packages.

Chicago city-proper also abounds with gift packages by some developers. Offers are good until Dec. 31, unless noted otherwise:

• • Printers Corner, Polk and Wells, $7,500 toward upgrades and a free 42-inch plasma TV with 2- and 3-bedroom condominiums, priced from the $270,000s to the $800,000s, Deeded parking spaces are $36,000. Call (312) 880-1800 or visit www.printerscorner.com.