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Candlelight Homes in Utah Sees 60% Growth Despite Down Economy
Utah home builder saw an incredible 60% growth in home sales in 2011. Competing directly with foreclosures, Candlelight Homes created a unique approach to building beautiful & affordable, new homes at more attractive prices than bank-owned deals.
Early in the economic downturn, Candlelight capitalized on deeply-discounted prices of foreclosed residential lots from banks as well as historically low priced building materials. Both elements have contributed to the company’s ability to offer such a high-quality product for such a competitive price.
The housing market was hit tremendously with the recent economic downturn. According to Zillow, 28.4 percent of all single-family homes with a mortgage in the United States were underwater in 2011. Historically, the typical percentage of residential mortgages in foreclosure in the United States has been around 1 percent. In 2011, that number had increased over four times to about 4.5 percent.
Another element contributing to Candlelight Homes’ tremendous growth is that they allow each buyer to sit down one-on-one with an architect to customize their home plan. This experience is typically only offered by expensive, high-end custom homebuilders, yet Candlelight has brought this unique benefit to the average homebuyer. Each buyer gets exactly what they want at an unbeatable price – even better than a run-down foreclosure.
Candlelight Homes continues to grow in 2012 at an even greater pace than 2011. Ambitious sales projections continue to be surpassed each month and 2012 growth is expected to be double 2011.