Feel free to enjoy these two posts, complements of the Seattle PI.
Opportunity is Knocking at Your Next Front Door
"The unfortunate reality here is that good news seems to get buried in the newspapers and it's the negative headlines that get all the attention. What we're trying to do [with the ad] is motivate buyers with the facts. Mortgage interest rates have come down, there's an ample supply of inventory and homes are selling."New condos: Which one's the tallest of all?
"Developer R.C. Hedreen Co. announced Wednesday that it was adding three floors, pending city approval, to Olive 8 -- a hotel-condo building under construction at Eighth Avenue and Olive Way. That would bring the tower to 39 stories, 455 feet above street level, and make it the tallest residential tower in Seattle when it opens in the summer of 2008.In sales we call this move "hey, look over here!" (distract the buyer so they won't think about the important questions, such as "how much will those condos be worth next year?")
The three new floors would mean the hotel-condominium project would have to meet city requirements to use environmentally sustainable construction and contribute toward affordable housing."
1(Marlow Harris, Seattle Real Estate Professionals Blog, 10.08.2006)
2(Aubrey Cohen, Seattle P-I, 10.09.2006)