New Homes for High-End New Homebuying Consumer

A new market study by Legend Homes/Matrix Development reveals that approximately 15% of new homebuyers in the Pacific Northwest can be classified as high-end consumers.

(PRWEB) December 10, 2004 -- Real estate professionals agree that most new-home buyers are looking for a stress-free buying process, a trouble-free move-in and years of generally maintenance-free living, thanks to product and workmanship warranties. They expect their new home to be a good investment, one that will keep its value well.

But now home buying consumers want even more and the executive management team at Legend Homes/Matrix Development is hoping to lead Oregon to the top of the crest in the newest wave of home sales and marketing. A new market study by Legend Homes/Matrix Development reveals that approximately 15% of new homebuyers in the Pacific Northwest can be classified as high-end consumers. This new consumer wants the privacy and quality of life of living in a residential community versus a noisy and impersonal but fashionable city location. They desire a high-end, beautifully unique and low maintenance detached home. This new homebuyer is likely to want and use extra space for:

- A home office

- A gourmet kitchen

- Storage for their lifestyle -- from racing bikes to a wine cellar

This house-based consumer requires more interior rooms with space to support active living. They are far more likely to spend weekends away touring wineries, coastal highways or snowboarding than landscaping.

In late winter of 2004, Legend Homes/Matrix Development combined sales analysis figures with and informal interviews and anecdotal studies. Simultaneously in-house experts subjected their findings to a parallel analysis of census data and other secondary sources. This effort provided information for sales projections and design plans for this new type of home community.

Legend Homes/Marix Development created designs specifically for the consumers who are driving the high-end housing boom. These are individuals and couples who require a home designed specifically to meet their social and leisure needs. These homebuyers are not interested in smaller homes or town homes. And so Legend Homes has made a major investment to address this consumers design requirements in a new phase in their most popular upscale community, Bauer Highlands.

Legend research echoed by recent studies

In August a well-publicized international consumer survey (Vandana Ramnani) reported on an international trend of the world population generally born between 1943-53. The survey discusses a new market segment, which includes people who have fulfilled most of their family obligations and are economically independent. The Home Building Association reported last September that we face an economy in which interest rates are expected to rise but housing starts are at an all-time high. And last month, the Associated Press reported that soaring construction costs would not dent the luxury home buying boom.

In September, John Ruble, president of the Home Builders Association of the Mississippi Coast, was quoted as saying, "The (new) buyers tend to be high-income professionals, wealthy retirees and investors in said who see real estate as a safer return than Wall Street. They seem to have money to buy homes regardless of what the job numbers or economy is doing."

Finally, just a few days ago, Portland, Oregons daily paper reported that the most popular apparel designers have entered the home décor market. Laura Ashley with her floral wallpaper and textiles and Ralph Lauren with complete bedroom designs. Tommy Bahama is introducing a furniture line with his tropical imprint, Kate Spade is creating dinnerware and Todd Oldham is creating new designs for La-Z-Boy.

Since 2002, Bauer Highlands homes have had tremendous popularity among homebuying consumers. The community has a history of record-breaking sales -- with 78% of all prior phase releases experiencing a complete sellout hours after lots have been available for sale. In 2002, Bauer had homebuyers camping in line for up to six days to secure their building lots. Located in NW Portland, this community is minutes from downtown and offers the best amenities of Washington County. This new phase in Legend Homes most popular selling community features architecture inspired by the European countryside and has multiple floor plans and designs from 2579 to 2875 square feet. Flexible plans offer multiple bedrooms, 2.5 baths, studies, parlors, optional guest rooms, and two to four-car tandem garages. These homes feature bonus rooms, master suites, extensive use of hardwoods or tile on main, granite slab kitchen islands, front and back yard landscaping with timed sprinklers and massive car garages as well as an unfinished area for creation of an additional workspace or even, as in the new model on tour, a wine cellar.

This latest phase of Bauer Highland homes are priced starting at $390,000. Comparable homes in the region start in the $450,000 range.

Founded in Portland in 1965, Legend Homes/Matrix Development is Oregons award-winning leader for architectural design. The company has become one of the Northwests largest residential developers in Oregon. Legend Homes has designed, developed and constructed approximately 5,000 home sites and 4,000 homes, town homes and condominiums.

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