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Discounts and incentives alive and well in Seattle

By October 29, 2007

Uncategorized

Seattle Times has an article on Developers dangle discounts, toys to lure home buyers.

Keep in mind this same thing happened last fall. I suspect many developers have their fiscal year lined up with the calendar year and want to move units in order to close their books on a high note.

Of course there’s a quote from Leslie Williams who clearly needs a PR handler just as badly as the Seattle Times needs a fact checker:

“I just toured downtown [Seattle] new condominiums, and no one is offering any incentives,” notes Leslie Williams, president of Williams Marketing, a real-estate marketing firm.

Unit #3102 is brand new at the Cosmo and comes with a Benz. That sounds like an incentive to me! Trace is also offering residents a $2500 referral fee if they bring in a buyer.

Did anyone pick up a Seattle Times Sunday paper? Are any of the downtown projects advertising incentives?

This quote will take a little more time to debunk:

Williams says the lack of incentives makes sense because new downtown condos are aimed at affluent, often repeat buyers who don’t need a financial nudge. “Those buyers have cash.”

But I’m sure someone with more time than me could comb through King County Records and see what percentage of people who bought at Cosmo or 2200 didn’t pay cash.

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