Dallas Residential -- Single Family vs. Attached Housing

Here at www.newcondosonline.com, we have established relationships with over 1,200 new and pre-construction condo, loft, and townhome developments throughout the Nation. With these relationships, we also begin to see trends of where attached housing development is going up, where it is not, as well as where developers are seeing value for their marketing dollars. I would like to discuss the Dallas, Texas market for a bit. Dallas, from what we have observed through communication with local developers, realtors, and media agencies, is a region where condo, loft, and townhome development is just beginning to roll out in full steam. In the past, this region had no need to really build vertical, because of the vast amount of attractive and developable land that was available to builders. High-rise living, which arrived on the scene in the late 1990s has had an uphill battle against the single-family home market. Recently though, high-rises are coming out of the ground as never before, and now it comes down to how fast buyers will take interest to these new attached homes. There is now a lot of inventory to go through, and sales are sluggish. To increase absorption, developers, their marketing directors, and media agencies need to get creative in how they are advertising these new homes.

Traditionally there was no need for online advertising in the Dallas new condo/loft/townhome market, but now, it seems that there is a very strong need, as Frogman235 has previously noted. There is a lot of new inventory and I feel that developers need to curb homebuyer incentives and put some more dollars into online marketing. Homebuyer incentives may be a valuable tactic in the local market, but they carry less weight to out-of-state buyers, who may not even be aware a new development has been built. www.newcondosonline.com was formed to bridge this gap between the average online homebuyer and the developers (sales efforts) of condo, loft, and townhome projects. We are essentially a matchmaking service for developers and homebuyers. Because of this, NCO will to continue to be a very useful tool for developers and builders in Dallas as well as many other cities in similar situations, buy helping to showcase new projects to a national and international audience.

At a relatively inexpensive price-point compared to print/radio/television media, www.newcondosonline.com is a much more financially logical solution for selling units than offering incentives like “NO payments on principle or interest for 6 months, no HOA’s for an extended period of time, and no closing costs.” In more traditional and conservative cities such as Dallas where local print media still rules, Developers are often reluctant to come around to new technologies (the internet) to help with their sales efforts.  The time has come to take a new approach, and revise these older advertising strategies, to attract newer, younger, and more tech-savvy buyers from local and out-of-state buyer markets.