GILBERT, AZ -- Things are starting to boom in the east Valley town of Gilbert; and it could be a sign that the housing market may be finally turning around.
At Higley Park by
Highland Homes, off the Loop 202 and Higley Road, construction workers are racing to get their jobs done.
Highland Homes expects to close on 31 homes in the month of November, just before the $8,000 federal tax credit ends.
"We're getting calls everyday. Customers wanting to make sure they're going to close and get their $8,000 tax credit," said John Mlynarek, a sales associate with Highland Homes.
In fact, for the past three months Highland homes has been building four to five homes a week to try and meet the surge in demand.
Mlynarek said it's just not the tax credit fueling the demand.
"Between the fact that people feel prices have reached rock bottom, the interest rates are good right now and with the government incentive, all three kicking in at the same time," he said. "It's really making it an unbeatable time to buy a new home."
Reports show in September, the town of Gilbert issued 116 new home permits, more than Phoenix which issued 109.
So far in 2009, city officials report nearly 1,000 permits were issued, double what they predicted.
"Everybody wants to be in a home that's in a good location with a good price that's affordable," Mlynarek said. "Even with the tax credit ending in November we're still selling homes to buyers who know they won't qualify, but want a new home here in Gilbert at a price that's competitive to a foreclosed home, even better it's a home built they way they want it."
In order to qualify for the government tax credit buyers must close by November 30.
