– With the national housing market struggling, some are turning their sights on other parts of the country, with the arrival of a new wave of homebuilders.
Bozeman Real Estate Group, one of the leading national builders, said it has seen a significant increase in the number of inquiries and inquiries in recent months, as the national economy continues to strengthen.
Bozemans goal is to fill 1,400 to 1,600 homes by 2020, with 100 of those being single-family homes, according to CEO and president Scott Geddes.
“The goal is one hundred per cent, it’s going to be a lot of single-home, single-bedroom homes, but we’re going to keep pushing,” he said.
“It’s a very long way from 100 per cent but we want to get there.”
Bozemeans goal has been met in recent years, with sales at its site up about 90 per cent.
The company has built and renovated a total of 11,000 single- and two-family home sites since it opened in 2009.
In the last three years, the company has purchased more than 6,000 homes, and is currently under construction on two new sites, said Gedds.
Bzemans chief operating officer, John Pappas, said that while the national real estate market is still improving, demand for single-person homes continues to rise.
“There’s been a tremendous uptick in single-unit sales since we opened,” he explained.
“We’ve seen that we’ve got a lot more interest in the market.
We’ve seen an uptick in the interest in single homes, so we’ve seen a surge in the single-income homes.”
He said that in some of the new single-house developments, the new buyers are from the outer boroughs.
Pappas said the company is in talks with other local builders, as well as local governments, to offer new homes to low-income homeowners.
“It’s really about putting the best value in the best possible home,” he continued.
“That’s our goal.
That’s our focus, and I think the city and our government will really help us in that.”
Pappasa said he’s not worried about the long-term impact on the city’s finances.
Bazones economy is still in its early stages, but he sees a lot going on.
“I’m excited about what we have going on right now in the state, and especially in the city, and we see a lot to be excited about,” he added.
“I think we’re seeing a lot.
I think that’s really the best time to be building.”
Pappy Jones, who works for a construction company, has been building houses in the area for years.
He said the boom has been good for his family, but his current building business isn’t going to make any money.
“We’re still trying to keep up with our costs, we’re still working on building things, but it’s really hard to keep a roof over our heads,” he admitted.
Jones said the economic growth in the community has also helped the area’s economy, especially for construction workers.
“The people who are building these homes, it helps our economy in the construction industry because they get paid a lot, they have a lot less to do,” he noted.
“And that helps the area.”
Jones said that many of the people who have purchased properties have been from the inner city, so they have had to adapt to living on their own.
“They have to do a lot different things to survive in the neighborhood, they’ve got to be able to have access to the community, and they’re not just able to get their stuff and get home,” Jones said.
“When you have people from the suburbs, the inner cities, who are buying homes, they’re doing it to support their families, to have something to put money in.”
Jones added that people who buy new homes in the region are generally from the wealthier parts of town.
He said the influx of buyers and developers has given some of those people a reason to upgrade their homes.
“If you want to move to town and you don’t want to be living in the suburbs,” he stated, “you can go buy a house in the middle of town and it can be a really nice place to live.”
The Bzemas goal is a goal that’s met, Jones said, but there are still plenty of challenges ahead.
“As the economy continues its improvement, I think we can get there, and as the population continues to grow, I do think we will see a return to the days of the single person home,” said Jones.