StonesThrow is a nine unit fee simple townhome project completed in 2009, located on Bellevue Way just south of the Bellevue city center. The project was nearly completed and bank owned, with no sales when Intracorp Marketing and Sales was brought in.
While pricing was a factor, it was also evident that there were other challenges standing in the way of sales. The primary issues were more related to the way the project presented itself to the buying public. With no staffed sales center nor a model home, and no street parking for buyers and agents to utilize during showings, it was not getting the traffic required to make sales in a challenging market.
Intracorp Marketing and Sales was able to resource the construction arm of the company to come in and put the finishing touches on each home. Once complete, the marketing group got working on setting up a sales office and model home to help prospects visualize the unique floor plans offered at this project. The site was staffed for the first time, the model was professionally staged, and the parking garage was opened for guests to utilize during visits while the site was open. New signage was installed, marketing and PR efforts were put in place, and the efforts paid off instantly with two sales in the first week on the market.
Within 60 days the project was completely sold out, and within 90 days start to finish each of the homes had closed sales and the project was labeled a success. All of this with only minor changes to overall pricing compared to revenue projections prior to the bank taking the project. In addition, this success was achieved during the very challenging market of early 2010.
