The main rule of real estate — “Location, location, location” — doesn’t explain how housing developments can succeed or fail in the same city, in the same place, literally across the street from each other.
The winners and losers in the Great Housing Crash are obvious throughout the Twin Cities suburbs. A project in Woodbury languishes with a single house stands in contrast to acres of bare lots. Yet across Cottage Grove Drive a thriving development boasting 600 homes and working on its seventh addition. Location doesn’t explain the difference. Nor does the quality of houses.
Winning developments have good timing low prices, and sales pitches that understand the psychology of homebuyers in the midst of the Great Recession. They also have homes that fit the new economy, trimming some of the extras and average square footage. The losers acquired too much debt, have houses that are too big, and started their projects too late. As many as 100 home builders in the metro area have gone out of business.
For winners like Norton Custom Home Builder, with their Legacy Creek and Blaine Haven developments in the thriving Blaine MN community in the northern Twin Cities, things are very different. Construction is nowhere near the pace it was before the real estate crash, but it’s steady. And buyers are stepping up even before the $250,000 to $300,000 homes are completed.
Not all developments are making progress. Part of the problem with developments that started before the real estate crash was bad timing. Another drawback to some developments are amenities: Without a few extras, it can be daunting for potential home owners to become “pioneers” in these new neighborhoods. Some don’t even have trees!
Legacy Creek in Blaine MN offers a quiet, pedestrian friendly environment that is like a retreat. Landscaped trails and sidewalks are flawlessly integrated with the Blaine trail system. Large community gathering areas combine to create a neighborhood that encourages both recreation and socialization.
The beautiful neighborhood known as Blaine Haven features 34 homes. This quiet development is adjacent to Madison Elementary School. Walkout and lookout lots offer a picturesque setting.
Another difference between housing development winners and losers is the builders’ relationships with real estate agents. Many developers try to forgo them. Some even bicker about sales commissions when a home is sold.
Not Norton Custom Homes. They have partnered with Barker & Hedges Real Estate and Homes of Minnesota RE/MAX Realtors to attract prospective buyers. When there is work to be done, houses to be sold and families ready to move into a new home at the right price, its time to work as a team so everyone can win. This effort has been so successful with the Blaine MN developments, Norton Homes will soon be building new homes in Farmington’s Hometown Addition and in Apple Valley’s Eastwood Ridge second Addition.
Homes and lots are available in both of the Blaine MN developments right now. More information will be coming soon regarding construction in Farmington’s Hometown Addition and Apple Valley’s Eastwood Ridge second Addition. Contact info@twincitiesbuilder.com
if you just can’t wait for more details.
