Local Builders See Success
FOR IMMEDIATE RELEASE
December 13 , 2007
Surprising Successes Seen in Local New Home Sales
West Chester, PA- Contrary to the steady beat of negative reports regarding the national housing market, many builders in Chester and Delaware counties are reporting increased site traffic and sales. Members of the Home Builders Association of Chester and Delaware Counties (HBA) are reporting successes at different price points throughout their region.
Locally based builders spotted the trend when Todd Pohlig, of Pohlig Builders in Malvern mentioned having a bidding war break out on a $3 million home at the company’s Boxwood Community in Rosemont at a recent HBA event. Other builders noted that finished homes are suddenly in demand after many months of sluggish sales. Pohlig sold the finished home and wrote an agreement to build a new home in the process.
Pohlig is also encouraged by the reaction to their first foray into the 55+ market with new condominiums in a lifestyle community at Haverford Reserve. Their information center for Athertyn, which is located on Lancaster Avenue in Bryn Mawr, opened to a packed house for their “Meet the Builder” weekend in November and resulted in a long list of presale deposits.
Chip Vaughan, of Vaughan and Sautter Builders in Wayne, also received multiple bids for a finished home in Malvern. According to Vaughan, it is his company’s new carriage home community, Traymore in Rose Valley that has struck a chord with buyers looking for a maintenance-free lifestyle without leaving their favorite neighborhood. Approximately 100 people have toured the furnished models which start in the upper $500,000’s, each week since it opened in October. Four homes have sold and there is currently a waiting list for new home sites to open.
Sales are not limited to the Main Line. Wayne Megill, of Megill Homes, Inc. in West Chester, reported writing two contracts and taking three deposits for homes over $1 million in Chadds Ford in the month of November alone. Thompson Homes, another West Chester Builder, is building in Northern Delaware. They sold the last three homes at Applecross, which were priced from $2 million to $4 million, in the last five weeks. Thompson is off to an equally impressive start at their new $500,000 Delaware community,
Moser Builders of Berwyn has seen similar success in their communities in Chester and Delaware Counties. According to company president, Ted Moser, “We have sold four quick delivery homes and one to-be-built in the past two weeks” Moser said. “More importantly, we are seeing more people who understand the market. A few months ago they were arriving at our models asking for $100,000 off like other builders were offering. Since then they have discovered that offers like that were limited to homes and home sites they were not willing to spend the next five to ten years living in.”
“It is encouraging to see that our members are having such success in today’s market,” said Mike McGee, Executive Vice President of the HBA. “Southeastern Pennsylvania didn’t have the rampant speculation other parts of the country did, and these stories reaffirm that our local market is different from what we’re hearing nationally.”
The Home Builders Association of Chester and Delaware Counties (HBA) is a professional trade organization comprised of more than 450 companies involved in every aspect of the new home construction process. The HBA advocates for public policy initiatives and sustainable building techniques that balance the need for strong economic growth and environmental protection. The HBA dedicated to providing and protecting the American dream of home ownership for current and future generations.
CONTACT:
Kira Barbieri
kirab@builderpa.com
(610) 692-7733
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