The declining real estate market in the U.S has been particularly tough on the condo market with many people afraid to buy a condo for fear that six months or a year later someone else will buy the same size condo in their building for a lot less money.At the Olive 8 hotel condo/hotel project in Seattle, the developer is offering prospective buyers the type of guarantee that we usually see department stores offer.
The developer announced that If someone buys an Olive 8 condo now and later someone else buys a unit in the building with the same floor plan for less, the developer will reduce the first buyer's price down to the lower amount at closing.
Olive 8 under construction at Eighth Avenue and Olive Way will feature 230 luxury condos on 22 floors above a 17-story Hyatt hotel.
The hotel is to open December 2008 .
Condos start at $750,000.
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