SOURCE: Talking Rock

Talking Rock

September 15, 2009 12:26 ET

Arizona High-Country Community Develops Innovative Strategies to Generate Awareness and Attract Buyers in Face of Real Estate Decline

PRESCOTT, AZ--(Marketwire - September 15, 2009) - Talking Rock, a luxury golf community located just north of Prescott, Ariz., was first introduced in 2002. Over the last seven years, the rustic, ranch-style community has received recognition for everything from the master plan to the private golf course to the residences dotting its high-desert landscape.

Since its inception, the community has experienced the ebbs and flows of the residential real estate market in Prescott and, as with most communities, has been affected by current economic conditions. Instead of going dark, Talking Rock has used the market slow-down to spark creative strategies for reaching new home buyers and maintaining visibility within its own community and beyond.

Innovative sales strategies

Talking Rock has implemented two innovative sales programs to keep its new homes in Prescott top of mind among buyers. In spring 2009, the development participated in an online real estate auction of homes and homesites through Freedom Realty Exchange. While other communities have participated in auctions to relieve supply of distressed production homes, many of which are abandoned or in foreclosure, Talking Rock used the auction as another sales and marketing angle for its properties -- auctioning only a select number of parcels and homes.

In addition to the auction, the community began accepting California IOUs as down payments for designated custom homesites in Prescott. Recognizing that a large number of its prospects are California residents looking for a more relaxed lifestyle, Talking Rock will accept the IOUs at face value up for up to 25 percent of the price of a homesite through September 30, 2009.

Both the auction and IOU program have resulted in a high volume of sales leads, sales and an overall increase in foot traffic throughout the community.

New product introduction

While being true to its sense of place, Talking Rock has found a way to develop new products that appeal to a wider audience. Recently, the community, in partnership with DLB Custom Homes, introduced a new concept in Prescott custom homes -- the Homestead Five. The collection of five one-of-a-kind floor plans combines the distinctiveness and quality expected of a custom residence with the ease of purchasing a spec home. Homestead Five is also the community's first foray into more modern architecture, with the goal of appealing to buyers who appreciate Talking Rock's laid-back lifestyle but prefer the clean lines and functionality of contemporary design.

Two more custom home products will launch later this year, offering an even greater selection of products within the Prescott master-planned community.

About Talking Rock:

Located in a peaceful, rural setting, just minutes from Prescott, Talking Rock is a 3,600-acre private, luxury home community with a casual western lifestyle and the amenities of an exclusive country club. The Jay Morrish-designed 7,350-yard championship golf course intertwines through more than 1,000 acres of preserved open space, presenting residents with the spaciousness of Arizona's high country. Talking Rock offers spacious custom home sites, as well as Ranch Cottages, Ranch Homes and custom homes designed in an authentic ranch style and built by the area's finest craftsmen. Talking Rock is a development of Harvard Investments, a Scottsdale, Ariz.-based real estate development company respected for its high quality, residential projects throughout the Southwest. The Talking Rock golf course and Ranch Compound are professionally managed by OB Sports. More information on Talking Rock and Harvard Investments, Inc. can be reached at 877-922-4440 or Talking Rock is also on Facebook and Twitter.