DMB Realty Network is an international sales and marketing company in the residential real estate business. However, our foundation and our roots are in the Arizona market. Most experts, knowing the state of Arizona’s economy would wish us well, but knowing that Arizona ranked 49th in job creation in the nation in 2010, would have very little hope for our future. However, there is always more to a story than is immediately apparent.
Despite one of the worst economies in recent history, both nationally and in Arizona, DMB Realty Network has continued to sell. DMB Realty Network has weathered the storm because we understand the Buyers of today, and we know how to find them. We have adapted as consumers have adapted and have managed not only to survive, but we have managed to thrive over the course of the past few years.
Let’s add a bit of diversity to the story … DMB Realty Network has not only continually sold real estate in Arizona at communities such as Silverleaf and Forest Highlands, our team has sold real estate in the West Valley, one of the most distressed areas in the nation for both jobs and real estate.
Does this mean the Arizona market is rebounding?
The Meyer-Pollack Quarterly reports an increase of 10% in housing permits this year by the second quarter with an expected increase of 28% in 2012. In October of this year, pricing made the strongest upward movement in 15 months, according to the Cromford Report on the Resale Market.
However, Buyers have changed, or have they? The assumption is that in an opening price point community like Verrado, a DMB Associates developed community in the West Valley of Phoenix, Arizona; Buyers are looking for the deal. The assumption is they are thinking … can we take advantage of the distressed nature of this economy and “steal” a house from an underwater homeowner? Yes, these types of Buyers are in the market. However, the inventory in places like Verrado has become scarce and because buyers are savvy enough to understand that the decision to purchase is not just about the lowest price. Savvy buyers are looking closely at the community they are investing in.
Verrado’s average price per square foot on homes closed in third quarter is higher than of the rest of the Southwest Valley (Estrella, Litchfield, Palm Valley Sundance and Tartesso). Our experience has been that buyers are willing to pay more to buy into a lifestyle and are less concerned with just a cheap house they got on “a deal.” Communities that have invested in their “Main Street” experience and created a place that people want to live, promoted by a sales team dedicated to marketing and selling a lifestyle rather than selling four walls, continue to thrive.
So, has DMB Realty Network done anything differently to survive? No, actually, our model of dedication to a marketing and sales process focused on community-centric selling works in bull and bear markets. Talented agents, targeted marketing and dedication to the communities we represent continues to be a successful business model for DMB Realty Network, in any place or economy.
If you have any questions or would like to discuss how DMB Realty Network can help your Brokerage Operations, please feel free to contact me directly.
Best Wishes,
Carine Girardin
