Keller Williams Greater Seattle

Sign of the Times – Olive 8 Offers A Price Guarantee

olive8.jpgThe Olive 8 condominium (website) and Hyatt hotel project is progressing full steam ahead with construction now exceeding 22 floors. The project is 80% sold with occupancy of lower level homes slated for January 2009 while the Hyatt at Olive 8 is expected to open this coming December. A model home within the building will be available some time this fall.

With that said, however, recent events and the state of the condo market are on the minds of developers. R.C. Hedreen, Olive 8’s developer, is ensuring that buyers in Seattle’s tallest residential tower receive the lowest price possible as the market continues to fluctuate by offering a price guarantee to new buyers. Should the same floor-plan within Olive 8‘s remaining inventory sells for less than the current price prior to closing, the buyers who contracted for a higher price home will benefit at closing with the equivalent discount to their price.

Acccording to David Thyer, president of R.C. Hedreen, the Olive 8 homes are attracting a great deal of attention and interest, but “We recognize the housing market hesitancy and feel that this guarantee will help shore the confidence of those who are on-the-fence. Buying now offers the best selection and the assurance that they are getting a great value.”

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About the Author

About the Author: Ben Kakimoto is a condo marketing specialist and publisher of The Seattle Condo Blog. Ben's focus is urban residential properties in Seattle's metropolitan core. Contact Ben to learn more about the Seattle condo and loft real estate market. Find Ben on Google+, Twitter and Facebook. .

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  1. Ron says:

    The price guarantee prior to closing is a wonderful marketing ploy with one major flaw. How does this benefit or protect buyers if the same floor plan sells for less than the current price AFTER closing?

  2. eric says:

    Since I walk past this building everyday on my way to work I have to comment on how cheap and cheesy this building looks. The fake pillars look horrible and dated already. I really hope it all comes together in the end but right now I am not impressed at all.

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