Valley area sees promising housing news

CHANDLER, AZ - New reports show the number of bank-owned homes continuing to rise across the nation, while new home sales are still dropping. But one part of the Valley is seeing some hope.

Fulton Homes executives are reporting an unusual rise in new homes in Gilbert, Tempe and Chandler.

Vice President Dennis Webb said in just the past month and a half they've had 75 new home sales and in one south Chandler development, every lot just sold.

"It's been tough... we're just lucky to have the foresight to figure out what the buyers want and to give it to them."

Webb says the company had to change their approach to selling new homes and become a customer-choice-driven seller over a home-builder-choice seller.

For Allison and Barret Hartman that made buying a bit easier.

The couple had their eye on the Fulton Ranch area for quite some time.

"We heard the homes were selling fast. We came in and took a look and knew that, if we were going to jump the gun it was time to do it," said Barret Hartman.

The couple chose to buy a new home instead of a foreclosed home as a way of saving family time.

"It takes a lot of time to invest in a house that may need some fixing up," said Allison Hartman, who has to keep up with two fast-paced boys.

The choice to buy new had to be tough with the increasing number of bank-owned homes available.

Reuters reports Nevada with the most foreclosed homes, while California and Arizona share the second spot, holding 56 percent of the nation's foreclosed homes.

"It's very difficult to compete with the homes that we built that are foreclosed homes that are $30,000 to $40,000 less than costs," said Webb .

That's where the choices come in. Webb adds that in order to attract new home buyers, the company had to display their prices upfront, with a 13,000 square foot design gallery of options that allow them to add or subtract options and costs.

"It's kind of nice to be able to start with a clean slate," said Barret Harman.