Regency Homes Owner Talks About Omaha Housing Market
As many of you watching the housing market in Omaha and the rest of the United States know, the last few years in the homebuilding market have been hard ones. Times are a bit lean for the crowded Omaha home building market and Omaha home builders who, in the past, didn’t look ahead and prepare for today’s downturn were courting disaster.
Just recently, in February of 2008, Gateway Homes filed for bankrupcy, leaving over 140 creditors holding the bag and wondering how exactly they were going to get paid for work they did for that homebuilder. While that case is working its way through the legal system, both people who paid for a new Gateway home and people who actually contracted with Gateway Homes are now realizing the folly in not researching the financial details and background of the Omaha home builder that you’re dealing with.
While new home sales numbers in the Omaha area aren’t terrible, Regency Homes owner Dennis Van Moorleghem, who has a good sense of old-time PR but hasn’t taken advantage of the advantages that the Internet has to offer, has stated that Regency Homes has taken steps to get through the lean times.
By doing what most other smart home builders in the Omaha area are doing, and reducing the amount of spec homes they put on a slow market, Regency Homes is definitely on the right track to staying in business.
According to Dennis Van Moorleghem:
Normally, we’d run 50 to 60 houses - specs. We’re down to about 18.
If you look at the past market upswings and downturns, you’ll notice that after every slowdown a new “buyer” comes forward to bring a new focus to what homebuilders build. According to Van Moorleghem:
It’s going to be a whole new buyer and everybody in the country is trying to figure it out.
Regency Homes is betting that in 2009 - when the market is expected to rise again - the new home buyer in Omaha will want a smaller, more energy-efficient home that sells for less than $250,000 but doesn’t skimp on the extra features that new home buyers expect.
They want granite. They want stone. They want fireplaces.
With today’s low interest rates and ample inventory available to choose from in the Omaha market, buyers are in the driver’s seat. Despite that, local builders have gone on record saying that they expect the market to bottom out in fall of 2008 and that 2009 will be the turnaround year.
Ken Oster Homes
From the “about us” page on the Ken Oster Homes website:
Ken Oster, President of Oster Construction, has learned the building process from the ground up, celebrating over 35 years as a home builder. He has established a strong reputation in the community with his sub-contractors, realtors, lenders and his customers. Ken has carefully dedicated himself to the finest in home building, with an exceptional commitment to detail and design. Homes built by Ken Oster are recognized as some of the most beautiful homes in Omaha.
Ken Oster Homes has lots available and can build a home for you in the following neighborhoods: Linden Estates, Bay Wood, The Ridges, Iron Horse, Deer Creek, Newport Landing, West Shores, Legacy, Elk Ridge, Silverleaf and Five Fountains.
On the job for over 10 years, Ken Oster’s son Kenny can be found, not only following in his father’s footsteps, but following through with all the details and on the job site management. Since receiving her real estate license in 1984, Diane Oster has seen the trends and knows the classics. A partnership with her husband Ken, keeps Diane informed of the latest in quality craftsmanship and product.
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