"People are tired of waiting around, whether buying a new home or downsizing, the buyers we're serving are ready to move on with their lives," said Brian Brunhofer, president of Deerfield-based Meritus Homes, which has sold five homes in northwest suburban Long Grove after opening a 20-home development there 90 days ago.
bought the site, as well as others it is relaunching in Naperville and St. Charles, after the housing bust wiped out prior developers.
"We're not getting close to 10, 15,000 permits anytime soon, but you see people are believing it's a good time to buy right now," Mr. Brunhofer
One such buyer is Brian Brunhofer, president of Deerfield-based Meritus Homes, which is relaunching residential projects in Long Grove, Naperville, and St. Charles after the housing bust wiped out prior developers.
signed contracts for five new homes in the first quarter.
Buying land at low prices allows developers to sell homes at lower prices.
But real estate fundamentals still hold true in choosing where to build, he
"Location, schools, and people want to feel they're getting great value," Mr. Brunhofer
Brian Brunhofer, president of Deerfield-based Meritus Homes, which has one active development of single-family homes in northwest suburban Inverness, said traffic slowed around the holidays but has been "pretty decent" thanks to the relatively mild winter weather.
has sold 11 of 27 home sites in the development, which opened for sales in November 2010, Mr. Brunhofer
"There's demand out there if you're in the right location at the right price," he