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.Email