Bill on Marketing

A recent article in the New York Times is entitled “Goodbye, Glitzy Condo Pitches.” It’s an interesting story about troubled and/or failed condominium projects reinventing themselves and coming up with new messaging. The article states that communities are now “focusing less on trendiness and more on value…. Maybe in the last economy, big, glossy marketing and overpromising was acceptable, but that’s really not relevant for buyers today.” No more $50 per copy brochures, baby! Bob Rennie, of course, already knew this when he repositioned Escala in downtown Seattle. We note that Olive 8 is generating big customer traffic with their auction campaign, despite the hidden reserves. Even more proof that the Value Equation is what consumers are responding to. On another note, we were happy to hear from Jeff Dye at Bonterra Homes, who confirmed that there has been “a little pickup” in the Lake Stevens marketplace.

Sarah ‘Krebsy’ Adams Assesses August

August sales were down 20 percent from the same month a year ago, but up from May, June and July of this year, though modestly. “It’s solidly a buyer’s market,” observed OB Jacobi of Windermere. “Homes that are priced right from the start are selling quickly and for very close to the asking price.” Prices are down slightly from a year ago.

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