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September 09, 2013MILTON, Ga. — Lennar Homes, a national homebuilder, is completing its final phase of 27 townhomes in Milton, called Haywood Commons.
Construction is scheduled to wrap up shortly at the new townhomes, located on Deerfield Parkway right off Windward Parkway.
Wayne Bell, Lennar's area sales manager, said Lennar's other townhome community, Deerfield Green, 3510 New Fawn Lane, also located in Milton, has presold all properties and is in the building stage.
A welcome center has been set up at Deerfield Green for the Haywood Commons properties.
The townhomes at Haywood Commons are priced from the mid $200s, range from 1,829 square feet to 1,865 square feet and offer three bedrooms with two-and-a-half baths.
The metro Atlanta area was hit hard when the real estate market crashed, but Bell said things have begun to turn around.
"We're in a seller's market right now," Bell said. "First Multiple Listing Service (FMLS) just doesn't have enough homes for the amount of buyers, resale and new construction."
Bell also said small builders are taking advantage of the market.
"Before, it was hard for the local builders to get financing, but banks are loaning money again," he said.
He said for national companies like Lennar, financing isn't a big issue.
"Companies like ours have been able to stay strong during the rough times because of our national presence," Bell said.
Bell said the cost of property is on the rise in areas like Milton, Alpharetta and in Cobb County.
He said this rise in value creates a competitive market and pushes builders to build more in the outskirts again.
"We're starting to see more communities and homes being built in areas like North Forsyth now, too," he said.
With property values on the rise, Bell says home values will increase, too.
"I'm not sure we'll get to where we were in 2004, but they are coming up again," he said.
Bell said Lennar's Deerfield Green has been a huge success for the company, with all units preselling.
"We're hoping to have similar success with Haywood," he said.
Lennar entered the Atlanta market three years ago, when the market was weak.
"We're in the top 10 of builders now," Bell said, "and are pleased with our success."
Bell said the metro Atlanta area should see a consistent rise in new home construction and a continued increase in values for resale homes over the next few years before things become consistent.
"We're in a regrowth, and it's an exciting place to be," he said.
For more information on Lennar Homes, visit www.lennar.com.