The election results are in: Last month, I said that if Romney won, the floodgates would open, and if Obama won, the market might come back as vacation home buyers wouldn’t defer vacation home ownership for another four years.
So, the latter has now happened.
I intend to focus on where I can find strength in the economy, in employment and in a positive attitude, and that's Texas!
Our Seahorse Beach Club project on the Gulf Coast, just an hour from Houston, is going to be a winner. Here's why:
1. I will shed my doom and gloom attitude as there's no gain to be in that mood for another four years!
2. Houston has more than six million residents.
3. The local economy, built on energy and medicine is, if not booming, doing very, very well. A Texan is a Texan!
4. We can build to suit as Seahorse is a collection of homes versus a vertical project.
5. We have just returned from Durango to see Gary Derck's structured-built home—the new phase of modular—and we are sold. As he said, "Why build it on the site if you can build it in the factory?" Delivery time is 120 days to occupancy. How about that?
6. This means we can be in the market to close next summer with quality housing built to our specs.
7. Seahorse will be mixed use: wholly owned homes plus two sizes of fractions.
8. We have heard that coming out of the recession [are we doing that?], the buyer will be more cautious, value oriented, thrifty, etc.
9. This may, just may, be the '"Return of the Fractional Interest."
What do you think? If there ever was a time for the product's rebirth, this is it.
So, that's my story and I'm sticking to it. If you disagree, I invite you to share your thoughts with me!
We are still working on New Orleans, New York state, the Florida Keys and the Dominican Republic. So, project-loading for 2013.
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