Real Estate Boom Spurs Construction

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Houses are going up in Bluffton–all part of a booming real estate business.At Village Park Homes, they are seeing success first-hand.

“In the last two years we’ve seen incredible opportunity to expand our company, as well as a lot of other homebuilders in our area. the growth has been wonderful, we’ve gone from two communities to twelve, and we have a few more on the books, and that’s just in the local Bluffton area,” said CEO, Richard Schwartz.

Schwartz says the homes going the fastest are at a price point between $200-350,000 and are literally flying off the lots.

“The buyers are coming in so quickly, that we cant put up some of the houses fast enough in some of the communities.”

Which means more jobs in our area, Schwartz says just one home can account for up to 50 jobs, and in the last couple years they built about 500 homes. and there’s more to come because we are still in short supply.

“New home inventory is about a four month supply, the resale inventory is at about a 6-month supply, as the last reports have told us. so this puts us in a unique position, we are in a needy position for homes in the area.”

And if you’re looking to buy or sell, Schwartz says now’s the time.

“We have no inventory, so int he resale market its an incredible time to put yourself on, we also have the scare of rates coming up, Janet Yellen from the fed says rates are going to rise, we are at the best time right now. so its a good time to get into something new.”

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