Bluegreen Communities: Havenwood Demystifies Housing Market Slump with Record-Setting Sales
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Bluegreen Communities (NYSE:BXG), a leading developer of master-planned
communities for custom homes, today announced the record-setting sales
for the week ending November 18, 2007 at Havenwood at Hunter’s
Crossing (www.havenwoodtexas.com)
in New Braunfels, Texas – selling 33 total
homesite sales. This week marks a significant milestone for Havenwood,
as news of recent housing slumps seem to have affected homebuilders and
developers across the country. Havenwood in New Braunfels is realizing
its best year of sales since opening in March of 2005.
What "housing slump”?
This news comes after recent news highlighting the truth in the Texas
housing market – retirees are moving to Texas
in record numbers, and the Texas Hill Country is a hot bed for
investors. The area was named as "The hottest
up and coming real estate market,” by Barbara
Corcoran on the Today Show Friday November 30th. To hear that Texas’
housing market is flourishing is really no surprise. Hames Gaines, Ph.D,
cites that the availability of mortgage funding, a wide selection of
housing, increasing prices, and the current trend of home appreciation
as four reasons that now is a good time to buy in the Lone Star State.
Havenwood offers 1-2+ acre homesites in New Braunfels, Texas, where
owners can make their own decisions: they can build if they decide, when
they want to begin building, how the home will be built, and who will
build it. Once construction begins, most communities require the home to
be complete within one year. To ensure consistency within the community,
the covenants also specify certain style and minimum size requirements,
further protecting the community’s residents.
These are choices that attract property owners like David and Theresa
McBeth from Plano, Texas, "We bought at
Havenwood mostly because of the flexibility; We can sit on this lot and
build a retirement home that’s perfect for us
when we are ready, or we can rest assured knowing that the value of an
acre of land in this area will only continue to appreciate at a rate
that rivals what we have invested elsewhere.”
The McBeths say, "In fact, that is exactly
why we purchased two homesites… to cover both
possibilities.”
Partners such as builders, lenders, and realtors too are drawn by the
quality of the product offered at Havenwood. Builder and Havenwood
Property owner Jeff Jenkins from Anderson Jenkins Signature Homes (www.ajsignature.com)
builds in Bluegreen Communities because of their reputation and
dependability. "Bluegreen develops and
delivers a superior offering – with
communities built in prime locations and loaded with amenities that are
not offered by typical developers.
"With the flexibility of the protective
covenants, homes can be unique to the individual without being
compromised by incongruity throughout the community,”
says Jenkins. Additionally, Jenkins relies on the fact that he can focus
on his core skill in building homes and let Bluegreen bring in the
prospective homeowner "if we build our home
on a Bluegreen property, then we can feel safe that the customer will
come.”
Jack Dean, Bluegreen’s Regional Vice
President, expects the upward trend to continue, "We
have surpassed our annual sales goals at Havenwood by over 160% and our
quarterly sales goals by over 200%. The growth potential along with a
great Texas Hill Country location in New Braunfels is what’s
drawing those who want to take advantage of a buyer’s
market in New Braunfels.”
About Bluegreen Corporation
Bluegreen Corporation is a provider of vacation and residential
lifestyle choices through its resorts and residential community
businesses. Bluegreen Communities (www.bluegreencommunities.com),
a division of Bluegreen Corporation, acquires and develops residential
land homesites, which are sold directly to customers who seek to build a
home. Bluegreen Corporation also generates interest income through its
financing of individual purchasers of VOIs, and homesites sold by
Bluegreen Communities. In July 2005, it acquired a 1,325-acre parcel in
New Braunfels, Texas that is now the Havenwood development.
