Matt Blocher is Senior Vice President at The JBG Companies, an active investor, owner and developer in the DC area real estate market. Prior to joining JBG in 2003, Matt was Director of Marketing at Archstone-Smith. Urban Igloo has been proud to work with Matt and JBG since our early days, and we were thrilled to sit down and chat with him recently.
The last 3 years have been tumultuous ones for the DC real estate market. What are the biggest changes you’ve seen over this period in marketing condos and rentals?
Although challenging, the last few years have really provided a great opportunity for those of us in the multi-family industry. Prospects, whether those looking to purchase or rent, are very savvy and know what they are looking for in their search for a new home. The challenge, or said differently, the opportunity, for us has been to ensure that our communities stand-out from the intense competition and to show the consumer the value that they are getting for their money.
How long do renters typically stay in your properties?
It is hard to generalize, but given the transient nature of the DC market, we typically see approximately 50% of the residences turn each year. It is also common to have a number of residents that stay in their apartment for many years.
How does marketing condos differ from marketing apartments?
In the Washington, DC area, there is very little difference between marketing a for-sale residence versus marketing an apartment residence. The finishes and amenities of apartment and condo communities in the area are very comparable, so the product is very similar as well. As we have done in the past with our condo projects, we market our apartment communities as an excellent long-term choice for our customers.
What’s the top benefit you get from working with Urban Igloo?
We consistently see great traffic numbers from the Urban Igloo team. It is safe to say that we view the Urban Igloo team as a strategic partner when it comes to leasing and marketing our residential projects.
What’s your favorite sushi restaurant?
Not a fair question to ask me to pick only one. Given the fact that it is next door to my office in Chevy Chase, I would say that Meiwah is a great option.
Thanks Matt!
