SANTA MARIA VALLEY - They can't build new homes fast enough at the Vistas at Mesa Verde development in Orcutt.
"We've launched several projects and all of our inventory has been absorbed", says prominent Central Coast homebuilder Gary Grossman, "in fact we have waiting lists of some 80 people in one of our projects alone."
Grossman and his Inland Pacific Builders Inc. firm have bought several unfinished residential developments in Santa Barbara and San Luis Obispo Counties watching demand and prices for new homes rise.
"Every house brings in something on the order of $350,000 directly into the community through local subcontractors, local suppliers", Grossman says.
The sudden surge in homebuilding has the yard at Hayward Lumber busy once again after several very rough years.
"Orders are going out and homes are being built", says Hayward Lumber Santa Maria General Manager Rudi Lokkart, "fortunately what we're being told is they are selling what they are building so things are looking much better in our industry."
The multiplier effect from new home construction also includes truck sales.
"As we saw that decline (in 2008) a lot guys were downsizing their fleets and they traded off a lot of their vehicles", says Kurt Rodriguez of Santa Maria Ford, "now they're seeing a surge in building, now they need to invest in new vehicles."
Gary Grossman says new home construction and rising property prices is good for the economy.
"When you start seeing signals of housing going up you will start seeing jobs being created", Grossman says.
Grossman also points out local government coffers also benefit from new home construction with a surge in tax revenues.
