Neal Communities Experiences a Market Turn for Real Estate - First Time Home Buyers on the Rise in Florida

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The turn around in the Real Estate market is gaining momentum with Lakewood Ranch based Neal Communities.

I’m so pleased with our team. They are all top professionals who provide the kind of service and expertise today’s buyers in any price point demand

The turn around in the Real Estate market is gaining momentum with Lakewood Ranch based Neal Communities. The Florida builder-developer exceeded its goals for the month of August with 33 contracts signed for new homes. This brings the year-to-date total to 197 contracts, Neal’s second highest month in 2009.

“I’m even more convinced that we are seeing the beginning of the market turn,” says Neal Communities’ Pat Neal. “Home inventory is down almost 70 percent as of the end of July and prices are actually rising. The pent-up demand for new housing is pushing the market forward and the entire economy benefits.”

Manatee Association of Realtors® data show that the number of homes for sale has declined about 47 % since July 2008. Homes under contract have increased by more than 57 percent during that same time. Average and median home prices trended higher for May, June and July this year.

“Much of our success this month was driven by first time buyers who find our prices an exceptional value,” states Sales Director David Hunihan. “Recent market studies show that one in three home sales are now going to first time buyers. We have positioned ourselves well by being able to offer homes in these price points.”

Neal Communities also opened sales for a new series of homes in River Sound, a Neal Community. The models will open in the fall, but already buyers are excited about the size and price. The homes are in the “Cruise” Series with 1032 to 1936 square feet. They are priced from the low $100,000s.

Neal also enjoyed continued enthusiasm from buyers signing contracts in Lismore, Stone Ridge, Silverwood and Wexford in The Country Club in Lakewood Ranch, River’s Reach, Wisteria Park, Mandalay, Forest Creek and Kenwood Park in University Park Country Club. “I’m so pleased with our team. They are all top professionals who provide the kind of service and expertise today’s buyers in any price point demand,” commented Hunihan, “and the newest addition to our team, Laura Stavola, has three sales in Leopard Creek and Valderrama at Country Club East in Lakewood Ranch.”

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 7,600 homes built in Southwest Florida, Neal Communities’ honors and accolades include 44 Aurora Awards, dozens of Parade of Homes Awards, five Best in American Living Awards and hundreds of local and regional industry awards. For more information, visit nealcommunities.com.

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Leisa Weintraub