Gridiron Launches Value Protection For Prospective Buyers | Buy With Confidence Program
Seattle, July 15, 2020 – Daniels Real Estate announced today a summer price guarantee program for Gridiron Condominiums. A first in the Seattle marketplace and another singular buyer protection program by Daniels Real Estate.
Between now and September 30, 2020, all new homebuyers at Gridiron will be offered a post-closing guarantee to protect consumers should prices drop. Daniels Real Estate has identified the average price for all peer (similar) units in the building based on current asking prices. If one or more homes in a peer group sells for less than the asking price(s), that same percentage difference will be rebated to a new home buyer as prepaid HOA (Homeowner Association) dues.
“We are very confident that timing the market today has never been better,” said Kevin Daniels, President of Daniels Real Estate. “The NWMLS announced last week that condominium prices increased 5.7-percent compared to a year ago and interest rates are historically low.”
The downtown Seattle condominium market is showing signs of improvement. Pending resales so far in July are trending twice as high compared to June.
“I know that these are uncertain times,” adds Daniels. “As a local, long-term hold developer, I want to help our city rebound and offer some certainty for those who can see a future in homeownership. This price guarantee will ensure prospective buyers benefit from their own negotiation as well as all future buyer’s negotiations thereafter. Now’s the time to make a move while we have the greatest selection and move-in ready homes.”
Earlier this year, in response to COVID-19 social distancing restrictions, Daniels Real Estate was the first to offer a home reservation program that only required a $5,000 refundable deposit held in escrow until a buyer could come and visit the home in person. That program was well received with eight recent sales in 2020.
“Daniels was ahead of their time in building Gridiron and recognizing the singular location at the doorstep of Seattle’s new waterfront and the Stadium District,” commented Dean Jones, Principal and Owner of Realogics Sotheby’s International Realty. “They are now leading the way in helping buyers avoid what I call, FOMO (fear of missing out).”
Jones believes values at Gridiron are effectively below replacement costs for a concrete and steel development – he notes other new construction high-rises are asking 20-50% higher prices, in part because labor and material costs have been skyrocketing 6-10% annually during Seattle’s building boom.
“Great deals in real estate are all about time and place – now is the time and Gridiron is the place,” added Jones. “I’m confident our buyers will look back on this opportunity and realize that they purchased an irreplaceable property at an extraordinary value with unprecedentedly-low interest rates.”
The Gridiron Price Guarantee program is offered starting today through September 30, 2020 even if a buyer closes before September 30th. Model home tours are by appointment only and wearing face masks is strictly enforced. Go to www.gridironcondos.com to learn more and schedule a tour appointment.