Row homes situated in a foot-friendly community and geared to move-up buyers and empty-nesters helped Miller and Smith weather tough times. Now, the company is reporting increased traffic and sales for the first quarter of 2012.
Miller and Smith's Noble Pointe Collection at Brambleton in Ashburn, Va., is just one example of a jobsite that's buzzing again. Says president Doug Smith, "Consumers are getting their confidence back. First-time buyers have decided it's time to move out of their parents’ basements."
Holly Creek, the largest product line at The Falls at Imperial Oaks, features homes that average in the low $300s and are geared to mature, second- or third-time move-up buyers—a segment that’s insulated from the credit challenges that entry-level and first-time, move-up buyers face.
David Weekly Homes Realtors gather for a preview of models at The Falls at Imperial Oaks in Spring, Texas.
David Weekly Homes Brian Robinson and Warren Waskow, senior builders at David Weekley, review specs for Color Plus, a new HardiePlank line with a color palette specifically for homes in Texas.
Neal Communities sold 150 homes at Woodbrook in the first quarter of 2012. One- and two-story plans that range from 1,100 to 2,500 square feet attract a variety of buyers, including working families, empty-nesters, and retirees. Here, sod goes down on the lot of a home that’s ready for sale.
With its first-floor master suites and generously sized guest rooms, Arista, an enclave of The Crosby at Rancho Santa Fe, is meant for move-down buyers with grown children—a segment that helped Davidson Communities muscle through a difficult stretch, says Bill Davidson, president. “These are seasoned home buyers who have seen two, three, and even four recessions,” he says. Davidson points out that mature buyers have witnessed interest rates go as high as 18 percent and as low as 3 percent and know that now is “an unbelievably good time to buy.” Davidson says he’s one of the cautiously optimistic. “Not everyone feels it’s over yet,” he observes. “Some people still have their helmets on.”