Paul Glenn figures that all things being equal, most people would prefer a new house over an older house.
So he came up with a novel marketing strategy.
"We wanted to sell quality new homes in the same price range as 5-to- 10-year-old existing homes in good condition," says Glenn, a longtime homebuilder who owns Glenn Construction. "It's the best way to compete in this market."
And compete is just what he's doing at his latest project, Estates at Galloway Woods, a 24-home subdivision in Galloway Township. The two-story single-family homes Glenn is building on one-acre lots are priced from $334,900 to the low $400,000s, about what you'd expect to pay for a comparable existing home.
Glenn didn't start the project. The first 16 homes at the development were built by Kara Homes and Alliance Builders. But when those companies failed Glenn bought the eight remaining lots from PNC Bank. Since taking over the development a year ago he has sold two homes, both of which are nearing completion. A total of six homesites are still available at the two cul-de-sacs that comprise Estates at Galloway Woods.
The cul-de-sac known Jersey Woods has 11 properties, only of which is still for sale. It's just down the road from the Towne of Smithville and is entered from Route 9. The Forest Park cul-de-sac, which will feature 13 homes when completed, is accessed from Leeds Point Road.
There was lots of work to be done before Glenn could even start building.
"When I took over the development it was an absolute mess." Glenn says. "There was a lot of trash to clean up. I had to do a lot of grading. I planted nearly 80 trees and I had to finish paving both streets."
Fortunately, much of the infrastructure was in place including the underground electric and natural gas lines. There are no water or sewage systems; the homes all have septic systems and well water.
There are five available models at Estates at Galloway.
"The Augusta" - 2623 square feet, starting at $334,900.
"The Oakmont" - 2883 square feet, starting at $360,900.
"The Forsgate" - 3202 square feet, starting at $364,900.
"The Turnbury" - 3150 square feet, starting at $374,900.
"The Birkdale" - 3491 square feet, starting at $386,900.
Glenn will also build homes from plans supplied by the buyer. The house nearing completion at Forest Park, under contract for the upper $300,000s, is not one of Glenn's five models. It features four bedrooms, 2½ baths and about 3,100 square feet of living space. It also has a covered front porch and a full poured concrete basement that encompasses the entire footprint of the house. The house at Jersey Woods, also under contact, has a two-story Victorian style tower, 5 bedrooms, 3½ baths and 3,600 square feet of living space. It's still a couple of months away from completion.
All of Glenn's homes back up to woodlands. All will have 9-foot first -floor ceilings, brick or stone accents on the exterior, Andersen windows, asphalt driveways and two zones of heat and central air conditioning. An energy efficient geothermal heat and air conditioning system is an option.
Glenn, who grew up in Absecon, graduated from Richard Stockton College, has been building custom and semi-custom homes for 24 years,. He takes great pride in using quality building materials in his homes.
"We use all plywood for the subflooring and sheathing on exterior walls," he says. "We don't use any particle board."
The homes also come standard with hardwood and ceramic tile floors, high-end cabinetry and sprinkler systems.
"We have both an exterior and internal draining system in case there is ever a water issue," he says. "We also do a sprayed on waterproofing so no water can penetrate the walls from the outside."
For more information on Estates at Galloway Woods call Michael Dolan of Galloway Real Estate at 609-652-2828 ext 17 or direct at 609-226-2181.
What: New single family homes
Where: Galloway Township
Builder: Glenn Construction
Price: $334,900 to low $400,000s