I ran across a great article in Builders magazine about recent home builder activity in our area highlighting both a start up builder and an oldie but goodie that has recently reorganized with local owners and local financing and how they are finding success in our master planned communities… all things point to postivie news for our area.
“…The startup, J. Kyle Homes, expects to complete construction of its first model by November at Park Place, a new neighborhood within Cinco Ranch, Houston’s top-selling master-planned community. Jason Hammonds, J. Kyle Homes’ president (Kyle is his middle name), says that market conditions have reduced lot prices to where his company can now get into a premium location that would have been out of its reach two years ago….”
While over 20 builders (Royce, Kimball, David Powers, etc.” have shuttered their doors, some abandoning lots and inventry, homes are still being built and sold everyday in our area. In fact, several of our communities and developers have received national recognition for increased sales in what has been considered a down-turn market.
“…Newmark Homes has already closed its first homes since it repurchased its brand from TOUSA on June 15. Newmark has operated in the Houston market for 26 years, but a clean break from TOUSA—the Florida-based builder that is winding down its business under Chapter 11 protection—is allowing this builder “to hit the reset button,” observes Jarvis. Indeed, Newmark’s president, Mike Moody, speaks of 2009 as his company’s “startup year…”
Newmark is currently building in only the strongest of master-planned communities: Cinco Ranch, Lakes of Bella Terra, etc. as these areas tend to attract buyers who are concerned about future appreciation and quality of life – which have a history of being stronger or more positive in highly controlled master-planned communities.
With positive economic indicators on a national level, our still strong job market, highly rated public schools, abundant commercial/retail for shopping, dining, entertainment… things still look good for the healthy suburbs of West Houston: Katy, Richmond, Sugar Land and more.