INFLUX OF NEWCOMERS KEEPS BUSINESS STRONG FOR HOMEBUILDERS IN SUBURBS

Below are excerpts from a story that was published in “Prospectus” in The Buffalo News on Sunday, Jan. 25, 2015

Marrano’s expansive Deer Springs neighborhood in Lake View continues to grow as new streets and homes are added.  Photo by:  Robert Kirkham/Buffalo News

 “It’s been a terrific year,” said John Manns, vice president of sales and marketing for Marrano/Marc Equity, citing a 20 percent jump in sales this year, after a 35 percent leap the year before. “We could have been on cruise control. We’re really hustling to get everything done.”

While not setting new records, the strong market for new construction is driven by a mixture of renewed confidence in Western New York by those living here, and an influx of both newcomers and returning expatriates.

Many of these are successful business people or doctors, in their 30s, 40s and 50s. On the other end of the age scale, there is also a growing pool of retiring baby boomers who are ready to “cut back” to smaller patio homes, but still want something new and upscale, and are willing to pay for it.

It’s also harder for potential homeowners to get mortgages because tougher regulations are making banks scrutinize transactions more closely. And even the developers themselves are having a more difficult time getting construction loans, which makes it harder for them to stay on schedule with homes.

Still, builders are thrilled with the turnaround – especially compared to the harsh first three months of last year when the bitter cold and heavy snow stymied sales.

“We’re tickled,” Marrano’s Manns said. “We’re having a Cinderella year. It’s all coming together.”

Patio homes seem to be particularly strong, builders say.  Such homes are typically one story with large patios, although some builders have added a small second level or a walk-out basement to offer more living and entertainment space.

But the primary focus of the house is on the first floor, which makes them particularly attractive to older buyers moving out of much larger multistory homes.

Masonry exteriors – more stone than brick now – are particularly popular, as well as craftsman-style shake shingle roofs and siding. There’s more focus on cultured or man-made stone that looks natural but is more flexible in its use, and can be more easily and inexpensively applied to a home.

Inside the houses, granite countertops, white wood cabinets and stainless steel appliances remain attractive for kitchens, along with wider-plank hardwood floors, ceramic tiles and high-end laminates that look like hardwood. Specialized wine cooler drawers, spice drawers and towel cabinets are more common. Bathrooms are getting larger showers and double-sink vanities. And high ceilings, glass transoms, direct-vent fireplaces, built-in bookcases and detailed crown moulding are attractive.

Many homebuyers also are seeking convenient and open floor plans, lots of storage space, walk-in pantries, and either “daylight” or walk-out basements that can be used for recreation rooms, home theaters or extra sleeping space. Home automation is also popular, with controlled lighting and theater systems, whole-house audio and speakers or remote-monitored video cameras.