Record Sales in a Down Market

Record Sales in a Down Market BRADENTON, FL - Neal Communities is bucking the market. "We have created a formula that works in this marketplace and puts us out in front of this recovery," states Neal Communities' Pat Neal. "By pricing new homes at less than $300,000, we are providing exactly what the housing market demands, and the buyers are responding."

The sales have been in all price points: from cottage homes to Country Club estates. Neal Communities is developing in 15 different communities and has posted sales in all of those neighborhoods. Realtors® have been involved in half of the sales during that time period.

"Americans typically have the 'I want it now' attitude. They are not willing to wait any longer to achieve their dreams," observes Sales Director, David Hunihan. "They see the opportunity and recognize that prices will be rising soon. This is indeed the time to buy with a company that has an excellent track record in communities that are beautiful."

With the strong sales Neal Communities is experiencing and the company's strong cash flow, it is now looking for land purchase opportunities. In fact, David Rapp was recently hired as Vice President of Land Acquisition. "We see this as the ideal time to purchase distressed and under-developed property," states Rapp. "Neal Communities is uniquely positioned in this market to add to our holdings in order to advance community development."

Neal points to the River Sound community as an example of the company's success with land strategy. "At the opening in March we were able to sell homes at prices starting below $110,000," notes Pat Neal. "Because we have no debt on the land and there is no bank financing, we could offer new homes at incredible values. The plan worked, and we've sold about 55 homes in just four months."

"We're bullish on the area and are poised to lead the charge out of the recession," says Neal. "In fact, we've already broken out and look forward to the future success of the entire community."

Neal Communities is ranked #135 among homebuilders in BUILDER Magazine's 2008 national listing based on sales. As the area's largest and most established locally owned and operated private builder, Neal Communities' innovative home building, development and quality customer service standards all contribute to the firm's continued, record-setting local success stories. With more than 7,000 homes built in Southwest Florida, Neal Communities' honors and accolades include 41 Aurora Awards, dozens of Parade of Homes Awards, five Best in American Living Awards and hundreds of local and regional industry awards.
Source: Neal Communities

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.