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'Affordable homes' builder sells out in less than 5 hours Sunday, October 22, 2006 By Susan R. Miller
Palm Beach Post Staff Writer
Sunday, October 22, 2006
BOYNTON BEACH — Danielle and P.J. Whritenour spent Friday night camped in front of a sales office along with more than a hundred others.
Their goal: to buy a home. By midnight, 121 others had joined them outside the office for GreyStone, a new GL Homes Community that will be built in early 2008 on Hagen Ranch and Woolbright roads.
To make them more comfortable, the builder brought in food, drinks, a couple of massage therapists and even a manicurist.
The newlyweds, he 33, she 29, arrived before most and were number 15 in line.
With prices starting at $311,900 for a three-bedroom, two-bath and going to $411,900 for a six-bedroom, four-bath, home-buyers couldn't snatch them up fast enough. The sale started at 9 a.m.
"We got the lot we wanted," a giddy Danielle Whritenour said. "Now, we are going to get a home to start a family."
Marcie DePlaza, division president for GL Homes, said they knew there would be a tremendous demand. Within the first hour-and-a-half, 65 of the 134 units were sold. Final sales figures came in at $50 million.
By 1:45 p.m. the last lot was sold.
Nearly 300 showed up to purchase what GL Homes calls "affordable housing" geared toward teachers, police officers, firefighters and other middle-class workers.
"Those are the occupations we were looking to attract because we know that Palm Beach County is looking for more affordable housing," DePlaza said.
Lenders spent the night pre-qualifying buyers such as Thelema Lamar, 27, of Deerfield Beach. The Palm Beach County teacher said the deal would provide her with a "new beginning" and allow her to move out of her mother's home.
She picked a three-bedroom, two-bath on a corner lot.
"This is a step out on faith pretty much," she said.
Although the five-year housing boom has abated and median prices for existing homes in the county have dropped from $411,400 in August 2005 to $386,000 last month, according to the Florida Association of Realtors, Saturday's offer was viewed by many as a great investment.
Angela Lemessy, an accountant from Wellington, planned to buy a home and then either rent it out or re-sell it at a higher price.
"I am trying to take advantage of the market. It's better than keeping the money in the bank," she said.
Leone and Alana Cohen of Boca Raton got the last lot.
It wasn't the lot of their dreams, still they were happy considering they didn't arrive until Saturday morning after the doors opened.
"We were going to come yesterday, but my wife heard that homes weren't selling like they used to" Leone Cohen said. "I wish we had come last night, but it's OK, we still got the house,"
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