Wednesday, May 12, 2010

Ice with your Igloo

Almost exactly two months ago I blogged about how the neighbors were gathering their pitchforks and torches over changes that our builder made to the style of new houses that were being built. Specifically the issue was that while the new houses would be comparable in terms of square footage, they were coming with a lot less standard options and so at a price that was significantly less then what most other people paid.

Well the market has spoken, and it's cheap(er) houses FTW. The builder who was two months ago building a ridiculous amount of homes on spec is now just building a ridiculous amount of homes because everything has sold. Even more amazing almost all of those sales appear to have come after the tax credit expired. At this point there are 12 homes either sold or pending sale this year. That's compared to six homes that sold in all of last year, and 11 per year in 2008 and 2007.

That's some serious sales, especially since there were two foreclosure sales this year and two more are on the market, so the builder wasn't the only one providing inventory of houses in the neighborhood.

It's worth noting that midway through last year the sales person at the development was moved to another development (i.e. fired) and a new guy was brought in. Between cheaper houses and a significantly better sales person, they are moving the houses. At this point it feels like every couple days while we take our evening walk there is a new 'sold' sign on a lot. Rumor has it that they've drastically moved up the road construction for the third phase because at this pace they'll be out of lots in the current phase in a month or two.

So regardless of whether people are cool with the new house styles, you can't argue with the fact that they are getting the neighborhood filled up. That's good news, I suppose.

1 comment:

Bill Roehl said...

People have to get fired up about something I guess.