It’s no surprise that the housing market is benefiting from strong buyer activity. Between the pandemic driving consumers out of urban environments, historically low mortgage interest rates, and a heightened pattern of migration due to the rise of remote work, the housing market is booming. And it’s especially saturated in Southwest Florida.
These factors, among others, have led to a limited housing supply. Homes are flying off the market as soon as they list, oftentimes for well above asking price. In the new construction space, builders face challenges keeping up with the demand. Material costs continue to climb and supplies from lumber to windows are limited, which slows down construction. The challenges in the housing market can create a frustrating environment for hopeful homebuyers.
At North River Ranch, however, home builders are uniquely positioned to continue delivering homes through strategic processes that start with the developer. Neal Land & Neighborhoods’ expertise in carefully planning, scheduling, and managing the development process allows for an efficient workflow that benefits the builders. Quick entitlement and approval stages secured by Neal Land & Neighborhoods then allow the builders to keep sales moving at a strong pace.
When many other new home communities are sold out with waitlists up to one year long, builders at North River Ranch are keeping up with construction, delivering homes to eager buyers.
On any given day at North River Ranch, hundreds of housing workers from engineers to construction crews to county inspectors are on site.
Homes by WestBay, for example, has started to build homes before selling them. Traditionally, builders will sell lots to buyers, then begin the design and construction phase. This strategy allows the builder to deliver a better buyer experience by shortening the length of time between contract and closing. Once the buyer has purchased the home, they can monitor the progress of construction via an online portal.
To help streamline the building process, builder David Weekley Homes has a variety of ‘inspiration packages’, or design options, prepared by DWH professional Design Consultants that buyers can select. The pre-selected packages help speed up the process of design and construction while still giving the buyer an opportunity to customize their home, as opposed to the buyer hand-selecting each finish.
Neal Communities recently launched sales of its townhomes at North River Ranch following a virtual grand opening event. The event, which took place over Facebook Live, already has over 300 interested participants in the new housing option.
While all signs point to continued strong demand for homes, builders at North River Ranch are uniquely positioned to support demand in north Manatee County. Over the coming months, Neal Land & Neighborhoods will deliver an additional 230 lots to builders with a further 380+ in late 2021, creating additional opportunities for housing development.
For more information on Neal Land & Neighborhoods, including the company’s latest development news, visit https://nealland.com/.
About Neal Land & Neighborhoods
Neal Land & Neighborhoods is a Manatee County-based land planning and community development organization led by John A. Neal. By partnering with highly reputable builders and large-scale land owners in Southwest Florida, Neal Land & Neighborhoods leverages its innate understanding of land planning and development to establish thriving, sustainable, livable and ecologically sensitive communities throughout Manatee, Sarasota and Hillsborough counties. Neal Land & Neighborhoods currently owns or controls several thousand acres of land entitled for more than 9,000 future residential homes and the supporting mixed-use commercial and retail. To learn more about Neal Land & Neighborhoods, current and future projects, visit https://www.nealland.com/.