D.R. Horton Hits a 'Home' Run

Recently, I visited a large D R Horton (DHI) community near Calabash, North Carolina. I took a seasoned local contractor acquaintance with me for company, comments and to catch up on the local gossip. As we all know, homebuilders. for the most part, have been slow to adjust to the new economy of change and at the lower end of the new home price point spectrum, even slower to produce a 21st century residence which includes the energy-saving expectations and and construction applications at a less than rip-off price to unsuspecting entry-level homebuyer.

I came away from this visit very impressed with Horton's game plan - and even more importantly, pleasantly surprised at the amount of homes under construction non-spec. Price points for single family, townhouse and cottage residences were less than competitors, especially the local contractors, of which there are many in the Wilmington-Myrtle Beach corridor. Walking through homes under construction, the bones and finish quality were very good. Subcontractors on site were complimentary to the company, although no one was happy with 2009 wages if they were part part of the pre-2008 construction feeding frenzy. I also spoke with a few homeowners and all were highly satisfied with their new home (the North Easterners were just overjoyed to "get out of Dodge" and enjoy a superior climate, much lower taxes and less risk of crime).