Cary homebuilder takes hairy vow

Not since Samson and the Beatles has long hair taken on such symbolism.

Cary homebuilder Dave Baron, nervously sitting on $4.5 million of unsold inventory, declared this week he won't chop his mop until he sells his next home.

While other home builders are tearing out their hair in panic, Baron is letting his graying thatch ease over his ears, hinting at the shagginess to come if the recession doesn't end. A tonsorial joke between Baron and his wife turned into an idea, and the idea morphed into a personal vow.

"It's a fun way to get some serious information out," Baron said. "Builders across the board are just trying to survive this downturn."

It's been four months since the president of Baron Custom Homes last sold one of his creations. His portfolio of six unsold homes includes the $924,000 Weston model in Cary -- originally priced at $1.1 million, since reduced -- and measuring nearly 4,900 square feet. The Weston features an outdoor pond and two fireplaces, one of which glows into the screened-in porch through a glass partition.

Other unsold Baron manses include the Asheville, the Westchester, the Parkwood and the Parkview.

Those homes and empty lots Baron owns are costing him nearly $30,000 a month in loan interest payments. The 54-year-old businessman says he has paid off all his subcontractors and vendors. Only his barber is not getting any money at this point.

Baron has lowered his prices by 10 percent to 15 percent and says his houses are competitive. And the homes have showings. But prospective buyers won't buy until they can sell their other homes. Some are not feeling secure in their jobs and are putting off buying.

Baron has sported a flowing mane before. Back in the mid-1970s, when he was a young carpenter, Baron's hair reached the middle of his back. At the time, his coiffure was an expression of freedom, not a measure of financial distress.

In 20 years of home building, Baron has never experienced worse economic conditions. His wife Catherine, who happens to be vice president of Baron Custom Homes, supports the publicity stunt.

"It's more to be able to laugh through these hard times," she said. "It's better than a tonsure."