real-estate-words

Just real estate words, some may call it real estate spin.

From the New York Times:

Adjectives get evicted

FOR better and worse, the mentality that helped propel the city’s real estate prices into lunar altitudes is gone. Not only are there fewer buyers today, but they are also more apt to have a yard-sale attitude, demanding sharp discounts on top of reduced prices — Poggenpohl kitchen and last year’s comps be damned.

Racing to keep up with a down-market mindset, many real estate brokers say they have been experimenting with a new paradigm in advertising, spinning their ads like roulette wheels in the hope of landing in the sweet spot of the parsimonious post-Lehman buyer.

The model is shaping up like this: The new propriety frowns at luxury, lifestyle and the fetishistic focus on designer brands and architects. Instead, brokers say they are trying to recast their listings in terms of responsible spending, comfort and, most especially, value.

“Three or four years ago, value was something that was uncomfortable even to talk about,” said Bruce Ehrmann, an associate broker at Stribling & Associates. “Value suggested thrift, and thrift meant you couldn’t keep up.”

But now value has another ring and thrift has a nice kind of sound. “People are not buying emotionally or lustily — they’re buying in a calculated manner the likes of which we haven’t seen in 15 years, except briefly after 9/11,” Mr. Ehrmann said. “The draw tends to be location, price and value before glory, glamour, Valcucine kitchens and Waterworks baths.”

An attractive price is the most direct way to convey value, preferably set off by some variation of the formerly taboo “reduced.”

“We never used to say ‘reduced’ in a very strong market because we felt people would think of it as tainted goods,” said Deanna Kory, a senior vice president at Corcoran. “But now if you don’t, people don’t think the seller is serious, especially if it’s been on the market any length of time. And people today feel cheated if they don’t get a deal.”

This is especially true, she added, in “certain categories that are more saturated, like one-bedroom co-ops and downtown lofts from $3 million to $6 million.”

Still, brokers were divided on the proper lingua franca for conveying price reductions and incipient seller desperation.

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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