Toll Brothers Reporting More Interest From Buyers In March

May 23, 2009
Toll Brothers Luxury Home

Toll Brothers Luxury Home

“More people are willing to run the risk that they will be able to sell their used homes in time for settlement of their new home,” CEO Bob Toll of Toll Brothers said.  Increases in contracts for Toll Brothers has given the national builder encouragement that perhaps more buyers are lurking out in the market ready to consider purchasing a new home.  Toll said the company’s best market was the Northeast, which continues to perform better than all of its others.  Chicago homebuyers have not shown the same interest as other geographic areas nationally including Central Florida and the Dallas Fort Worth.

Many other high-production builders have switched their markets to first-time buyers, cutting down the size and costs of their products to meet that buyer’s needs, many questioned Toll’s decision to stay in the business of providing move-up and high-end housing.  As one of the few well capitalized national builders remaining, the luxury buyer is always going to be around according to Toll Brothers executives.  The thought that Toll now has less competition in that niche offers little consolation to the company’s CEO. “On a theoretical basis I guess our share is increasing, but we take no comfort from that since the size of the market has shrunk so much.”

While this news certainly is not a sign of an instant turn for better to the battered home building industry, it certainly is a sign of the public gaining confidence and or restlessness of home owners.  As recent news of slowing layoffs and the number unemployment insurance claims leveling indicates, the economy seems to be improving albeit slowly.  Chicago real estate news lately has been bare of positive news of late but the effects of the foreclosure market and short sales will have a lasting impact on the home building industry for years to come.   Buying new has its advantages in any market as the latest “buyer beware” articles on the increase in foreclosure sales suggests (click here)

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

Leave a Comment