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New Construction recovering...slowly <br /> Lot Inventory/Supply New Construction Market <br /> D 200 vacant lots 126 subdivisions D Absent national builders...but close by <br /> D Most lots platted pre-2006;most D New const.premium($145 PSF+) <br /> subdivisions inactive ➢ 2016 new construction projected to <br /> ➢ Newer subdivisions surpass 2015 housing starts <br /> ❑ Avg.lot cost$35k-$50k <br /> ❑ Home value w/lot:$250k+ 1 <br /> I <br /> ❑ Avg.SF lot size:0.40 acres _. <br /> Wei.044 Tc ttha J, <br /> Future Projects <br /> •„,I..4r7 .o. .T..,,. <br /> > Two future developments in pipeline: ' °°•"` � ""4" °° "'""' <br /> ❑ 250 lot preliminary plat ■ <br /> ❑ 60 lot preliminary plat <br /> U�Maxfield <br /> Research&Consults,. <br /> Demand Summary <br /> Demand Overview Demand Driver Examples <br /> • Household growth&tenure •Demographics <br /> • Turnover •Economy&Job Growth <br /> • Income-qualified households •Consumer Choice( Preferences <br /> • Demand by product I Preferences •Turnover/Mobility <br /> •Supply(i.e.Existing Hsg.Stock) <br /> • Replacement need(i.e. <br /> functionally/physically obsolete) <br /> •Financing <br /> Demand Assumptions/Methodology <br /> • Household growth adjusted for local factors(i.e. building permits, etc.) <br /> • Maxfield <br /> 8 <br />