The new home market is looking up in Cobb County. After seeing a story on Channel 2 Action News by Diana Davis, I contacted Rob Hosack of the county’s community development office to confirm what I’d heard in Davis’ report. Hosack emailed me that, indeed, building permits issued in Cobb during March 2011 increased 50 percent compared to March 2010.
Combine this with another recent story by Janel Davis in the AJC titled “Cobb projects signal upswing,” and you might notice a hopeful trend.
While foreclosures are still a factor affecting new home development and sales in general, homes in Cobb are being built by established companies, such as Lennar and Traton Homes.
These two builders, in fact, account for the majority of new home permits issued by the county in recent months.
Ginny Bryant, director of sales for Lennar-Atlanta, led me on a tour of the model home at Lennar’s newest subdivision in north Cobb off Jamerson Road.
This development, known as Tanglewood Crest, is one of five others Lennar has under various stages of completion in Cobb, and will consist of 21 new homes priced in the low $300,000s.
Traton Homes has about nine sites in Cobb it is developing. The largest subdivision is in Marietta called Rockford Township, not too far from the town square. These homes, to number about 60 when building is finished, are priced in the $240,000s. Clif Poston, a Traton representative, said these are detached homes, not townhomes.
Lennar has also staked out 16 lots for a new subdivision at the corner of Old Canton and Robinson Roads with prices in the $400,000s to $500,000s.
Bryant believes buyers are deciding in favor of new homes when they look closely at the value of new homes relative to a foreclosure, for instance. As with Lennar, Traton is also recovering foreclosed land or partially finished lots, where available, and incorporating the savings into an attractive price.
Todd Thrasher, managing partner with investment fund Brooks Chadwick based in Cobb, said homebuilders he has dealt with in Cobb recently have been adept at resetting new-home prices.
Energy efficiency also sells. Building codes in recent years have helped consumers save money by requiring developers to build new homes with energy savings in mind.
Tanglewood’s five-bedroom model home has Energy Star written all over it. Not really, but you get the idea. Energy Star is the brainchild of the Environmental Protection Agency and is a program “designed to identify and promote energy-efficient products.” This now includes certifying entire homes.
Through third-party analysis, Lennar is able to demonstrate a 30 percent savings with an average Energy Star rating between 68 and 72 for the typical home Lennar sells.
Cobb, with its recent budget shortfalls, the threatened library closings, and the very real shuttering of senior centers, could use some good news. And potentially new neighbors entering the community are always an asset.
Craig Allen lives in Marietta. Reach him at alle3257@bellsouth.net.
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