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Level Heads Keep Topeka's Housing on Healthier Track
By living up to their Midwestern reputation for not being risk-takers, residents of Topeka, Kan. have seen their local housing market weather the current economic crisis better than some others across the country.
“Obviously we’ve seen a downturn, but we never overbuilt so our builders are not sitting on too much inventory,” said Dawn Wright, president and CEO of the Topeka Home Builders Association (THBA).
In the meantime, the association is doing everything it can to keep its builders in the public eye and help sell homes, including launching a new advertising campaign, Web site and magazine.
At the beginning of the year, the association’s board of directors pledged funds from reserves to create the advertising campaign, and members matched the pledge. The HBA then persuaded local media to double its ad buys, giving them television, radio and online advertising worth twice what they were spending.
The television spots, running on network channels from March to May, drove viewers to THBA’s new consumer Web site, BuildTopeka.com.
The site features contact information for the association’s builder members along with a list of builders who have homes currently for sale. Information from the NAHB Myth Buster resources, including answers to frequently-asked consumer questions and housing facts, is also provided.
“I use a lot of the stuff from national,” Wright said. “It doesn’t cost us anything, and anything that can help us reassure nervous consumers is great.”
The association built on the success of the Web site by launching THBA Magazine over the summer. Published quarterly, it is distributed for free in local grocery and Wal-Mart stores. Advertising covers the production costs for the print run of 12,000 copies.
“We’ve had a lot of response from the community, it got people talking,” Wright said. “And my members have reacted very positively.”
The conservative nature of the many community banks in Topeka has also helped the local housing market, a point that the THBA has made sure to emphasize on BuildTopeka.com with a page that lists local banks willing to lend to qualified buyers.
According to Wright, “We have a lot of small town banks who have not tightened lending standards and have money to lend because they were smart and didn’t get into dangerous positions with risky mortgages.”
The THBA also aims to maintain a constant presence in the minds of the citizens of Topeka.
“I place op-eds in the local paper as much as I can, plus we have two parades and a home show spaced throughout the year so we are always in front of the community with positive messages about new homes,” Wright said.
Go to www.nahb.org/mythbuster or contact NAHB Public Affairs, x8447 to learn more about the promotional efforts of HBAs around the country and about the resources available from NAHB.
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