Brix Raising Prices

What a joke…

I bet they are advertising: ONLY 10 UNITS LEFT! LIMITED TIME OFFER!

I got notified of a couple Brix units on my watchlist having risen in price. Oddly enough, in at least one case, this is the SECOND price rise this year.

http://www.redfin.com/WA/Seattle/530-Broadway-Ave-E-98102/unit-313/home/12435622?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1

This guy went on the marked on March 28, rose by $10k on April 15, and just rose another $10k. Perhaps it’s a variant on that guy in Bothell who keeps lowering his price until someone buys.

dumbasses…

these units have been on the market for, what, over a year now?

Thanks for the link Jason :) If you all look hard enough, the bedroom picture with the window view does not respresent the floorplan for this unit….kinda shady eh? hahahaha….that bedroom pix is probably from a townhouse unit.

not shady, its just lazy

all presales do this

Raising prices seems to the the current trend – I’ve seen this on a couple new construction town homes in the past week as well. I think it’s more an attempt to try to coax anyone sitting on the fence to buy quickly before it goes up again.

If that tactic actually works in this market, that would just show how many potential buys are ignorant of the market fundamentals.

F&%#ing iditos. They deserve exactly what they get. We’ve been laughing our arses off around the office all day about the arrogance/ignorance this developer must have to actually raise prices with increasing interest rates, significantly increased market inventory, declining bid rates, and no regard for how long this nasty project has ALREADY been on the market. Let’s face it… people aren’t exactly beating down the doors to get in on this POS and tired development. Shame on the developer for such cocky and ignorant behavior, but shame even more on any buyer that actually bows to this elementary and common marketing ploy.

wow, someone had their toys taken away during playtime today…

raising prices makes sense. the project is nearer to being finished since this gives possible buyers a chance to actually tour the units instead of looking at a floor plan. they most likely just raised the prices on the more desirable units.

The units are so desirable that they haven’t been able to sell them!!

Idiotic decision in my mind, raise prices into a market with excessive inventory at your own peril.

Yea, I am sure they are touring TONS of buyers through the building.

As prices fall all around Seattle, now down slightly over 7% from the peak and destined to fall further, lets raise prices. Brilliant.

jo: it’s not presale, this building has been on sale for a long while now – lazy yes, misleading and shady yes. it is what it is, unless of course you’re an agent :P

Pistol Pete, just to clarify:
It says on the actual listing on the MLS that the picture is from the model unit facing the 10th avenue side and is used to show final quality rather than the actual unit; something clearly stated in the picture comments.

Jo, you really should learn about what’s going on with both the global and local economy before you write such an ignorant statement like “raising prices makes sense.”

Clearly, you failed Econ 101 and shouldn’t be giving market advise to ANYONE (yeah, I’ve read other posts of your’s and they don’t make a whole lot of sense either).

Is Jo retarded?

Jo is not retarded at all. Jo is a coward. That’s why “Jo” lies about “Jo’s” true profession and the benefit “Jo” receives by keeping market prices high. “High” – as in what Jo must be to think its good business to raise prices. :-)

Raising prices makes sense if it works. Why would you even care unless you’re interested in the place? Let the market decide. If its the wrong decision, then in 6-12 months, Brix will have an inventory glut and have to do even larger price cuts to sell their units. It doesn’t make sense to me, but it’s tough to predict the future.

I like to think of myself as “mentally impeded”

:)

Ross,

I don’t care, but that doesn’t make the decision any less idiotic.

Makes complete sense. Keeps the flippers in the game. Then when it comes time for resales, watch the competition between the builder and the flippers. Vulcan beat our flipper here (was interesting to watch) and the Cosmo Developer absolutely smoked one of the Penthouse flippers.

Let’s face it, this is all about risk and marketing. While it may be hard to predict the future, its not really hard to predict an increase in interest rates and their are examples within the neighborhood of condos just kind of sitting around before being finished and then sitting around after being finished. From afar it looks like let’s pass some cost overruns onto what’s left so we don’t kill our returns. not unusual, either and let’s dress it up cute that now its done its worth more. Alas, I hope this works, but I think flippers maybe tapped out and we’re running low on wealthy folks who want to just want throw caution to the wind. I guess we will see.

and yeah, inglese is not always my best spelling language.