(Short and Sweet) What happened to the inventory?
Lately agents are telling me they have seen an increase in non-contingent site visits who want a standing inventory. Unfortunately we have sold all of our inventory. This is where the picture starts to become more clear. It seems the single family new construction market has an extremely low number of available inventory at $400,000 and under. While this in itself is a great development there is a downside, lost sales. Agents across our area telling me that they are loosing sales every week because of the lack of inventory. They also tell me “builders have to start more inventory now”. I never thought I would hear those words again, much less actually agree with them.
So, it seems the market is telling us it is time to consider some targeted inventory. The question is location, price point, features, among many other considerations. So if you were us what would you like to see? How about some listings at 4 bedrooms 2.5 baths, Energy Star rated, Hardie plank exterior, ceramic, priced around the 350’s on large lots in the best school districts in Chesapeake. I hope that sounds good, as that is what we are planning. We also have homes that could be priced from 316900 with all of the features mentioned above. What do you think? Your feedback would be most appreciated.
So when you visit a site, or call for inventory and it seems like there is nothing available, remember that we as builders are becoming re-acquainted with the idea of starting spcecs . Part of the process will include significant input from “our” agents as to what we start how big and what types of features would be most appealing to your buyers.
Looking forward to the feedback.
Stephen
I am not an agent, just a fan of your page. My husband and I are looking to buy sometime in the next 6 months. It’s hard because we are young and don’t have a large budget, but yet love the look of your homes. Where are the homes in the low $300’s located? Our budget is not quite set in stone but I would imagine we will have to stay close to $300,000 or less. That may mean we are out of range for your homes. Also, my husband does construction and has talked to a few builders about finishing the house in order to afford something nicer and newer. He can do a lot himself, so I wasn’t sure if you would be open to that.
Thanks for your time.
Katie Williams
Katie Williams said this on August 17th, 2009 at 2:56 pm
Thanks for reading my blog Katie. Please contact me through the web site and I will call you directly and we can figure a way to get you a Stephen Alexander Cottage.
Thanks again.
Stephen
stephenalexanderhomes said this on August 17th, 2009 at 6:42 pm
We are currently in a year lease ending in June 2010 and love the style of your houses. We are from the Mobile Alabama area where you see your style of house. We are currently in a year lease ending in June 2010 and will be buying a house by the end of the lease. We are looking for a house under $400,000 but around $350 if possible in the Great Bridge or Hickory school district. Are you going to have anything in that price range and school district? We would love to be in one of your houses. Or, if we found a lot would you build us a house?
Thanks for your time,
John and Mary Pickens
John and Mary Pickens said this on August 27th, 2009 at 9:25 pm
I have those price points in the Grassfields school district next to Great Bridge. Yes we can build on a lot if you find one around 100,000 that would help us stay in your price point.
stephenalexanderhomes said this on August 27th, 2009 at 10:35 pm