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  • 1. The Condo Market
    Sales Meeting
    December 8, 2010
  • 2. Current National DataNAR: Nov. 23, 2010
    Existing condo & co-op sales fell 3.6%
    Seasonally adjusted annual rate of 540,000 in October from 560,000 in September
    27.6 % below the 746,000-unit sales rush a year ago
    Median existing condo price was $166,000 in October
    Down 4.2 % from October 2009
    First-time buyers purchased 32 percent of homes in October
  • 3. Video
    Condo King
    Featuring Chris Feurer
    Jameson Real Estate, Chicago
    Former Carpet Cleaning Business Owner
    Realized potential in real estate after flipping a house for $50,000 profit in 1996
    Started as Leasing Agent
    2007: His team at CRF Marketing exceeded $200million in sales
    2008: With a partner, bought a controlling stake in Jameson Real Estate
    • Increased Agents from 93 to 170
  • What Chris Did
    Owner of Fuerer Companies: Real Estate Development and Sales
    CRF Marketing Head, Michael Sato
    Chicago RE developers: Steven Golovan, Charles Mudd, John Lally
    Created brokerage powerhouse, Jameson LLC
  • 4. Graphic DesignCampaign 2010
  • 5. Condos: Pros
    Popular option for 1st time buyers, empty nesters
    Greatest momentum of condo development- last 10 years
    Low Maintenance beauty, peace of mind
    Access to amenities
    Pools, Spas, Clubrooms
    Security
    Sense of Community
    Cost: Usually less than a single family home in same neighborhood
    Social Living
    Condo Board
  • 6. Condos: Cons
    Banks sometimes wont lend if there are too many rentals in a community
    When markets fall, condos tend to fall harder and faster than single-family homes
    Causes Renting, which causes lenders fears
    Monthly Dues- Vary with community
    Limited Space
    Indoor & Outdoor (Garage, Storage, Yard)
    Less Privacy
    Resale: Fewer buyers for condos
    Poor Management…
    Condo Board: It’s a Pro, and a Con
  • 7. The Omaha Scene
    Prices from $30,000-Millions
    Recent Sale: Twin Towers 1 Bed, 1 Bath:
    Listed $39,985 (10/19/2010)
    Sold $35,999 (12/6/2010)
    July 1- Dec 7: 193 Condo/Townhouse Sales (MLS)
    483 SqFt – 4,433 SqFt
    Riverfront Tower II: 70% Sold
    Expecting a June/July 2011 Move In
  • 8. Who’s the Go-To in Omaha?
    Marie Otis, CBS Home
    Cindy Cawley, CBS Home
    Urban Omaha
    Prudential, OmahaCondoConnection.com
    Steve Torneten, CondoLivingOmaha.com
    Author of “Condo Living Omaha”
  • 9. Books
    Learn the ins and outs of condo living. From buying and selling, to understanding the terminology, asking the right questions and how to know if it is right for you.. Condominium Specialist Steve Torneten spells it out in this new book.
  • 10. Condo Communities
    Soma- Rows/Lofts
    Gold Coast Condos
    Aspen Condos
    Mill Pointe
    Dunsany Flats
    Park Plaza
    Silver Throne
    The Towns
    Farnam 1600
    Riverfront
    Ford Lofts
    Kimball Lofts
    Twin Towers
    Paxton
    The Rorick
    Giovanna Rows
    And the list goes on, and on….
  • 11. How to break into the Omaha Scene
    Get in contact with Developers
    What is their current agent relationship
    Current/Future Projects
    PR: Teach a Class/Seminar for buyers
    Market Yourself as an Expert
    Website, Articles, Books,
  • 12. How to Sell A Condo
    Marketing will be different
    Be Aware of the Pros and Cons
    Consider Location: Near Downtown, On the Bus line, etc
    “Minutes from Transportation”, “Walk to Work”, “Forget the Commute”
    Create marketing on 3 x 5 cards and place at transit stations/office complexes
    Target Senior Citizens, 1St time buyers, Empty Nesters
    “Forget the yard work”, “Athletic Center with Pool”, “Enjoy Life”
  • 13. How to Sell A Condo
    Highlight Amenities:
    Bike Security, Storage for Delivered Groceries, Exercise Facility, Close to Walking Trails
    Parking: Heated, Underground, Reserved
    Elevators: Important to some older buyers
    If trying to sell to families: Mention access to schools
    Staging: Maximizing Space, more important than ever
  • 14. How to Sell A Condo
    Offer Incentives:
    Warranty
    Prepaid HOA Fees for 1year
    Closing Costs, etc
    If you see the perfect building for sale, call your investors! And then offer to be the agent to sell out the place!
  • 15. Educate Omaha
    Create Information Packets and Marketing Materials
    Leave at businesses near developments
    Leave at University Housing departments
    Create a Condo Blog
  • 16. Model Cities/Firms
    Toronto-
    Seven out of every ten new homes sold in October was a high-rise condominium suite
    High-rise condo sales were up 27% over October 2009
    52.6 % ahead of the January-October 2009 period
    Chicago- Jameson
    April 27th, 2010: Auctioned 26 condominiums for more that $4.2 million
  • 17. Is Omaha Ready?