Grant news and announcements
Grant & Co. Builders Thrives with High Sales in 2010
Collierville-based builder sees sales grow as real estate market stabilizes
Memphis, Tenn., March 8, 2010 – As potential homebuyers rush to the finish line for the federal homebuyer tax credit, set to expire later this spring, a local homebuilder is benefiting from smart business planning and a strong focus on the customer leading up to that deadline.
Grant & Co. Builders, a Collierville-based homebuilding and realty company, has seen a dramatic spike in sales in the early part of 2010. Since Jan. 1, the company has sold 30 homes in the Memphis market and expects increased sales throughout the remainder of the spring and summer. Its sales team wrote three contracts in Cambridge Manor, an Arlington development, before the model home in that community was even finished. Grant added 12 more contracts in Cambridge during the month of February and the early part of March.
“Months ago, when the market had reached its lowest point, we realized that we had to address the wants and needs of the buyers who are on the market,” said Keith Grant, an owner at Grant & Co. Builders. “Rather than simply being reactive and trying to keep our head above water, we set out to be innovative in the types of floor plans and amenities that we’re offering. We changed the way we look at our market, and we really listened in to what our potential customers were saying.”
Cambridge Manor is just one of many successful local enterprises for the builder. The company also operates construction sites in Lakeland, Bartlett, downtown Memphis and Olive Branch. Kyle’s Creek, a development in Olive Branch, is averaging 10 to 15 visitors per week – mirroring the level of weekly prospects at most other Grant sites.
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Grant & Co. Builders Thrives with High Sales in 2010
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“Foot traffic in our models has been steady, if not increasing, since the beginning of this year,” said Martha Fondren, marketing director for the company. “We have floor plans, styles and price ranges to meet the needs of virtually any buyer. We’re seeing a mix of first-time customers, older buyers looking to right-size their home, as well as a steady stream of relocations to the Mid-South.”
Fondren projects that Grant & Co. Builders will double its 2010 sales over its final 2009 numbers, and the company has planned for that growth by recently hiring two new sales agents and two building superintendents.
The deadline for the federal homebuyer tax credit looms on June 30, and Grant expects a high level of prospects leading up to that date, as well as after it. Potential buyers must agree in principle and earnest to purchase a property by April 30, and they must close on the property by June 30 to qualify for the tax credit. The credit does not require repayment, and its value is 10 percent of the purchase price of the home capped at $8,000 for first-time buyers and $6,500 for current homeowners.
For more information about Grant & Co. Builders, or to receive more detailed information about the federal tax credit for homebuyers, call (901) 854-0525 or visit www.grantnewhomes.com.
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