• Success of state and federal tax credits help buyers return to the market
DEL MAR, Calif. (April 21, 2009) – In response to the success of federal and state tax credits and historically low interest rates, San Diego new home builder Brookfield Homes is ramping up its game plan. The Toronto-based homebuilder has authorized the start of 25 detached new homes throughout San Diego and Riverside counties within the next few weeks.
In a normal year, 25 new starts would be business as usual. But since the housing slowdown began in 2007, builders have been trickling out a small phase here and a small phase there.
“We’re announcing our 25 new starts because we’re excited to be off the sidelines, moving dirt and pouring cement again,” said Lora Heramb, vice president of sales and marketing for Brookfield Homes San Diego/Riverside division. “We’re seeing buyers jump back into the market to take advantage of favorable interest rates and federal and state tax credits. This has given us the confidence to release funds, pull permits and start building again.”
According to Heramb, new home construction has been announced at the following San Diego County neighborhoods:
• Trellis at Windingwalk in Chula Vista is starting six homes.
• Mahogany at Old Creek Ranch in San Marcos is starting four homes.
• In the Poway area, Brookfield Homes started four homes at Calabria and two homes in at Serenity, both within The Estates at StoneBridge master-planned community.
In Riverside County, Brookfield Homes has started:
• Six new homes at Veranda® and three new homes at Ironwood, both within the master-planned community of Morningstar Ranch in Murrieta.
Brookfield San Diego Builders, Inc. builds homes throughout San Diego and Riverside counties. Brookfield currently is building in the master-planned communities of Windingwalk in Chula Vista, The Estates at StoneBridge east of Scripps Ranch in San Diego, Old Creek Ranch in San Marcos and Morningstar Ranch in Winchester. For more information about Brookfield communities and to learn about the company’s signature construction differences, visit www.brookfieldsd.com.