GSD&M in Austin, Tex-as, has launched the first of three new ads in a national television campaign for the Fannie Mae Foundation.
Ad spending was not disclosed, but sources said the spots--cut in 30- and 60-second versions--will be backed by as much as $10 million. The foundation's 1998 ad budget is an estimated $30 million.
The commercials will air on ABC, CBS, NBC, Fox and cable networks. The ads feature once run-down neighborhoods--like Genesis Park in Charlotte, N.C.--that have been transformed by new homeowners. The spots combine before-and-after photos with clips of real residents talking about the pride of ownership.
The Fannie Mae Foundation works with nonprofit organizations to promote home ownership.