Smart builders know that their competition right now is not so much the builder down the street. It’s foreclosures and short sales.
Homes sitting empty (and more importantly what potential buyers think about vacant homes) put downward pressure on prices and decrease sales.
The HBA Central Arizona means to change all that with a regional advertising campaign sponsored by Bonded Builders Warranty Group, Arizona Power Service, The Rider Elite Team of realtors and Southwest Gas. The campaign is also supported by regional outdoor advertising providers.
“Buy New, Buy Now” is an interactive campaign that was created to help educate and inform potential homebuyers and real estate professionals alike about the current state of the home buying experience in the Phoenix area.
About two dozen builders are participating in partnership with local media companies, says Connie Wilhelm, Executive Officer of HBACA.
“We are very fortunate to have our sponsors, including Bonded Builders, which allows the program to have a much greater reach,” Connie says. “We are able to tell people about the warranty advantages of a new home, the energy savings of a new home and getting a home that matches a buyer’s needs.”
For both consumers and real estate agents the media have polluted the market with bad news, making it hard for buyers to see opportunity.
They think the opportunity is in buying distressed property, but that’s hit and miss, Connie says.
“We fully understand that people are going to look at foreclosures and short sales,” Connie says. “We set out to shorten the time people will spend looking for a foreclosure or short sale and give them a way to compare costs. People don’t realize they may have to chase 20 foreclosures or short sales, compete with the investors and you do not always know what you are going to face in terms of making the home livable.”
Connie says when you add up the real cost to buy a distressed home, the questionable quality of it, and all the time and emotion it takes to close the sale, buying a brand new home with a quality warranty now for a great price is a much better route for buyers.
The “Buy New, Buy Now” website has great information for home buyers anywhere in the country. The site is tied to social media like Youtube and Facebook, which makes sharing the information fast and easy.
One of the most useful tools is the Foreclosure Calculator, which helps homebuyers look at all the true costs they will face buying a foreclosure. That gives them a real number to use for comparing to a new home with a warranty.
The site is designed for both first-time homebuyers and move up/move down buyers. A homeowner’s existing property is called a “trade-in;” and the site gives homeowners a way to reach professionals who can help them through the transactions of selling their existing home and moving into a new one.
“It’s a six-month campaign that started in January. I would guess that we will extend it” Connie says. “The builders have been very positive. It’s not designed to promote any one builder, but it does give a builder a chance to show off their homes.”
“We have virtual home tours,” Connie says. “(Homebuyers) are able to connect to all of the participating builders websites, and we post comments from homebuyers about their journey through the home buying process.”
To learn more about the HBA of Central Arizona’s “Buy New, Buy Now” program, visit the “Buy New, Buy Now” website or visit the HBA Central Arizona website. Connie is also available by email for other HBAs that would like to consider replicating the program in their market.Share