Blog Articles

All the latest news articles and market trends of the Seattle Real Estate Market. If it is happening in Seattle it is happening on the Stroupe Group.

Price Protection for Olive 8 Buyers

Olive 8 is offering their buyers security by knocking down the price of an offer made yesterday to reflect a price tomorrow if any reductions are made. The new sales pitch is an attempt to boost sales. Developers of Olive 8 (R.C. Hedreen) sold 175 of the 230 units a year ago, but there’s only been 10 sales since.

Analyst believe it’s because of buyer’s fear that a recession is near and/or an expected drop in prices. However, considering our local economy and number of people that are moving to Seattle, a recession isn’t likely and developers haven’t given any hints that dropping prices is in the horizon. Also, David Thyer (R.C. Hedreen’s president) reported that Olive 8 is more than likely to raise their prices due increasing construction costs and overall market value.

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