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SG Clients In the News

9.3.08 - Silverstone Communities Offers Rare New Home Opportunity... more
- Forbes.com / San Jose Business Journal / Earthimes.org / Yahoo! Finance / Reuters / GlobeInvestor.com

9.3.08 - City Walk Gets Itself Back on Track... more
- Contra Costa Times

September/October 2008 - A New Closing Script for RESPA Reform... more- Real Estate Business Magazine

September 2008 - Negative Pledge Agreements: Are They Enforceable?... more
- Western Banking Magazine

September 2008 - Builder Profile – Signature Properties... more
- Bay Area Home Builder Magazine

September 2008 - Member News – Signature Properties... more
- Bay Area Home Builder Magazine

September 2008 - Member News – Miller Starr Regalia... more
- Bay Area Home Builder Magazine

7.30.08 - MLSListings Partners with Arcot Systems to Execute Multifactor and Strong Authentication... more
- RISMedia

7.15.08 - U.S. Economy ‘Going Haywire”... more
- Contra Costa Times

July/August 2008 - Individual States Have Authority To Regulate... more
- Outdoor Advertising Magazine

6.12.08 - Walk the Line - Or Walk Away
... more
- Contra Costa Times / Bay Area News Group

6.02.08 - Home Buyer's Risk, Developer's Burden?... more
- ABC World News

5.16.08 - Home Builders Group Opens Up to Urban Development... more
- Contra Costa Times

5.14.08 - Taking Control... more
- The Recorder / Law.com

5.06.08 - Builder Guarantees Buyer's Home Values... more
- ABC 7 News

5.06.08 - Builder Hopes to Hook Home Buyers with Price Guarantee... more
- Contra Costa Times

5.06.08 - Builder Hopes to Hook Home Buyers with Price Guarantee... more
- San Jose Mercury News

5.01.08 - Miller Starr Regalia - Member News... more
- Bay Area Home Builder (HBANC)

5.01.08 - 2008 OAAA Legal Seminar Recap... more
- Outdoor Advertising Magazine

4.29.08 -Affirmational Marketing... more
- HBA: Joseph Perkins Blog

4.28.08 - Signature Properties Hopes Price Guatantee Will Aid Sales... more
- Inman News

4.25.08 - Going Green: Builders' Efforts to Integrate Eco-Friendly Elements in Homes Benefits Buyers Now and In the Future... more
- Bay Area News Group

4.23.08 - MLS and Other Acronyms... more
- Inman News

4.22.08 - Northern California MLSs
Forge Alliance... more
- Inman News

4.22.08 - Four NorCal MLSs Come Together to Create Complete MLS Data Share in Northern California... more
- RISMedia

3.7.08 - MLS Listings Inc. may Consolidate with SoCal Group... more
- East Bay Business Times

3.04.08 - Developer Caught in Middle of S.J. Conversion Policy Change ... more
- San Jose Mercury News

News Archives... more

4.29.08 - Affirmational Marketing
- HBA: Jospeh Perkins Blog

Shea Homes has a great ad running in the Bay Area’s biggest newspapers. It shows two homes side by side, one smaller, the other nearly twice the size.

The caption over the smaller home reads: “What your budget could buy in 2006.” The caption over the much larger home reads: “What your budget can buy now.”

This ad not only tells prospective home buyers what they already know – that it’s a buyers market. It also depicts it for them.

Shea’s clever marketing strategy -- let's call it "affirmational marketing" -- is tacitly endorsed by an article recently published in the Wall Street Journal. “And now for the heartwarming side of the housing bust,” the article begins. “It’s helping some people buy homes they couldn’t afford a couple of years ago.”

The Journal cites Goldman Sachs chief U.S. economist, Jan Hatzius, who said that the share of a typical family’s income needed to mortgage payments on a median-priced home averaged about 17.5 percent from 1993 to 2003, before jumping to 26 percent in 2006.

The figure has now fallen to 20 percent, according to Hatzius, and is likely to continue declining through at least the end of the year.

The fear for prospective home buyers is that they might buy a new home today only to find out months later that, if they had waited, they could have purchased the same house for less.

But the Journal points out that, “In most of the country, inventories of unsold homes are no longer growing quickly, as they did in 2006 and 2007.” So, while home prices may not be at rock bottom today, they are much closer to bottom than in the previous two years.

In the meantime, some smart builders are taking steps to allay fears of prospective buyers of overpaying for their new home.  For instance, Signature Properties has introduced its “Live Secure” program which guarantees the sales price of its Bay Area homes for up to two years after closing.

In an otherwise down market, builders like Shea and Signature are promoting the bright side to the home buying public.

 

 
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