Market Movers: City of Mt. Vernon

Today we’d like to share an update on a Zanola project that is in progress with the city of Mt. Vernon, Illinois.

The city of Mt. Vernon, located in south central Illinois, was the focus of a recent Zanola Company housing study identifying demographics-based housing needs for the city. The study explored different growth plans and scenarios, eventually finding the best-fit growth plan for Mt. Vernon. The plan includes the opportunity to develop and build 28 different types of homes; all total, the study justifies a need for 360 to 718 new housing units in Mt. Vernon by 2016.

In recent months, Zanola has moved forward into the implementation phases of the marketing plan established for the city of Mt. Vernon, launching a new website that outlines the Mt. Vernon Strategic Housing Growth Program and targets builders, developers, and residential support professionals. All available resources – guides, contact information, and links to city staff – are found on the website.

We have also launched builder emails, blogs, and web updates to draw interest from residential developers, builders, and other homebuilding professionals. If you are interested in signing up for these updates, click here.

Currently, we are working on efforts for a public relations campaign that identifies target prospects, referrals, and media outlets; organizes them into priority lists for direct outreach and reporting; and launches outreach and follow-up with these prospects.

Mt. Vernon has seen tremendous growth over the past years – employers are adding jobs, business is growing, and city revenues are strong. We are excited to be part of this project! Keep watching Mt. Vernon – together, we’re moving the market!

By Rachel Ballard

Market Movers: Opportunity Assessments

Today, we’d like to share a Zanola research study that we have completed for a major private equity firm to provide a market focus study for two new homes developments in the Austin, Texas market area and the Jacksonville, Florida market area.

The purpose of these opportunity assessments was to discover and recommend the best value-increasing combination of residential development; new home types and amenities for the developments’ most positive futures. The research studies forecast the extent and type of demand over the next seven years for new homes.

Following are examples of what Zanola is creating for this client’s greatest success: 

• Socioeconomic Overview and Analysis:  This guide provides summary interpretation of demographics and socioeconomic information relevant to the potential developments and market areas. It provides supporting data interpretation and chart/graph snapshots that include demographics data, employment and incomes, age and household distribution, migration factors, job growth outlook, homebuyer predictors, market area economic influences, and household formation.
• Homebuyer Affordability Variables and Analysis:  This guide provides demographics, earnings, and interest rate factors within the market areas. It provides variables and combinations of these factors as a means to analyze potential positive and negative impacts, as well as a preview to pricing and absorption strategies.
• New Detached Homes Activity and Analysis:  This guide provides summary interpretation of new single-family detached housing activity that is relevant to the potential developments and market areas.
• New Attached Homes Overview:  This guide provides a limited overview of new attached homes found to be relevant to the proposed developments.
• Residential Foreclosure Information and Analysis:  This guide identifies and accesses residential foreclosure and REO activity that is available in the study market area. It provides summary interpretation of available foreclosure and REO information with supporting data interpretation and chart/graphs snapshots relevant to the potential developments and market areas.
• New Detached Homes Communities Comparison:  This guide provides an overview of total competitive new, detached home developments.
• New Attached Homes Communities Overview:  This provides a limited overview of new, attached home developments found to be relevant to the proposed developments. 

Both studies conclude with a discussion that provides a combined analysis statement based on a review of all of the above research sections. It provides key analysis components that include site analysis, anticipated homebuyer mix by home type, anticipated homebuyer behavioral preferences and predictors, risk considerations, current and potential pricing, timelines, absorption, and revenues. 

These have been great projects for an exciting client! Keep watching – we’re moving the market!

By Denise Kruse

Market Movers – Bob Sutton Real Estate and Loans LLC

We are excited to share current work we are doing for Bob Sutton Real Estate and Loans in Poplar Bluff, Missouri. The Sutton family has owned and operated the company since its founding in 1951 as Sutton Realty. Over the next 40 years, Bob and his wife grew the business from the ground up, expanding Sutton Realty’s services to include mortgage loans and settlement loans, which provide financing for people with pending lawsuits.

In recent years, the Sutton family has narrowed its focus to specialize in mortgage and settlement loans. However, business outside of the real estate and loans business has multiplied with the addition of S&S Construction, a home construction and remodeling company, and Sutton Sales Co., which buys, sells, and trades used automobiles and other merchandise. 

Zanola is working with the Bob Sutton Real Estate and Loans to provide a Development Research Overview for a proposed Sutton commercial development at the southeast intersection of MO 53 and MO 142. The intersection of these two highways is a new, high-traffic area with traffic lights and good visibility. 

The following are several vital items we are working to complete for the Sutton family:

• Mapping Perspective Research:  Provides a general primary market area mapping view of roadways and key locations
• Demographics Research Focus:  Provides demographics analysis and seven-year projections for the primary market area, including a separate and detailed view of total current residents and anticipated population growth
• Supply and Demand:  Provides supply, demand, and outlook information for the primary market area, including roadway traffic counts
• Analysis:  Provides a summary and analysis of data collected

We are excited to see how this development might spark even more growth in Poplar Bluff. Keep an eye on Bob Sutton Real Estate and Loans – together, we’re moving the market!

By Rachel Ballard