Going into 2014, global lot supply will hover around 30 months, but it will begin to equalize as starts continue to grow throughout the year. If this trend persists, lot supply will likely be under 24 months by the end of 2014 according to Residential Strategies (http://www.residentialstrategies.com/)
In addition, prime lots will remain expensive and in demand, which Grenadier Homes says may fuel a rising trend. Builders and developers will work even more closely together to improve periphery lots – creating new, prime locations in master-planned communities.
“Although this presents challenges, it should also create opportunities for builders, developers and buyers in 2014,” says John Egnatis, co-founder and CEO of Grenadier Homes. “Together, we’re changing the lot landscape – taking good lots and making them great. We’re increasing lot value by forming large, master-planned communities with top amenities, like club houses, playgrounds, sports facilities, and much more.”
In December 2013, mortgage rates were on the rise, and industry professionals say 2014 will bring more of the same.
“Many factors indicate that our economy will be stronger this year, and mortgage rates usually go up as the economy improves,” explains Amy Stinson, director of business development for Prospect Mortgage Co (http://www.myprospectmortgage.com/
There will be a renewed interest in the new urbanism (http://www.newurbanism.org/
“People’s lives are even busier than ever, so the convenience of a good, mixed-use community is very appealing,” notes Anthony Natale, co-founder and president of Grenadier Homes. “There’s also a trend toward more social, city constructs. Our buyers want a beautiful, comfortable community where they can connect with their neighbors and enjoy everything the area has to offer – including nature – such as walking paths, parks and community water features.”
Home buyers are far more sophisticated and informed than they were just a few years ago. This architectural revolution – a renaissance where buyers are starting to look for quality over quantity – is a trend that will intensify in 2014, predicts Egnatis.
Home buyers are better educated and more discerning than ever before thanks to smart phones, tablets, room apps and other technology. From virtually anywhere at any time, buyers have the ability to study the architectural styles and features they want in detail, as well as compare prices, community amenities and decoration options.
“The architectural revolution can be a great opportunity for residential builders to hone their craft, tap into their creativity, and partner with the buyer on custom options, which can result in better quality homes, more satisfied buyers, and better financial returns for the builder,” says Egnatis.
Grenadier Homes designs and builds semi-custom and custom single-family homes, patio homes and town homes throughout the Dallas/Fort Worth Metroplex. It is recognized throughout the industry as a leader in customer satisfaction, workmanship, integrity, innovation and perseverance. Although the company was founded in 1990 by Anthony Natale and John Egnatis, Grenadier Homes can trace its roots back to the 1960s when Natale’s father, Nick, built a custom-designed home for the Egnatis family. Natale and Egnatis became neighbors and close friends, frequently playing ice hockey together on Grenadier pond. The build had a major impact on them both, and later they created Grenadier Homes with that in mind – to make a positive difference in people’s lives through homebuilding. For more information, visit www.grenadierhomes.com. Connect with Grenadier Homes at www.facebook.com/