New homebuilding activity of any type in the Truckee Meadows or northern Nevada in general is cause for excitement these days.  Despite reports to the contrary, there is a buyer profile out there that’s seeking a new home—not a distressed, foreclosed or short sale property that may or may not need thousands of dollars in repairs to make habitable.  These homebuyers are seeking what only a new home has to offer: that new home smell…pristine walls and floor coverings…reliable appliances…and a structure that’s not carrying the “ghosts” of owners past.
   

  Better Green Building Company and Fred Altmann are bringing just that to Reno with its new home community Panther Estates, which recently opened for sales.  Featuring an entry level product that will incorporate numerous energy efficient features into each home, Panther Estates will eventually consist of 31 homes and three different floor plans, with sizes ranging from 1,461 to 1,740 square feet.  “Our initial plan is to absorb 2 homes per month,” stated Darrin Indart of Better Green Building Company.  “Although that can change depending on the market, we are confident that the product and pricing are appropriate for today’s market.”
   Like many new home communities in northern Nevada, Panther Estates was originally a casualty of the housing downturn and the drop in home prices. This circumstance led to a distressed position for the project, not dissimilar to most communities that were purchased or developed in the last five years.  For Better Green Building Company, this was an opportunity to acquire finished lots at a price that would allow for building and selling homes in today’s market.
   One of the project’s most visible impacts is the fact that dozens of jobs will be created locally for construction workers, subcontractors and suppliers who have been hard-pressed to find business in the new home market.  As Indart pointed out, “The associates in our organization are excited about having a new project to be part of, and we are optimistic about putting some people back to work.”  National Association of Home Builders’ statistics have found that on average, each new home built creates the equivalent of three jobs for a year and generates about $90,000 in taxes paid to local and federal authorities.
   Resisting the impulse to be overly-optimistic in these challenging times, Indart feels that the future holds opportunity for the industry.  “In my opinion, companies that are patient, diligent, and provide a high quality product—and can avoid the temptation to try to make a million in a week—will be successful.”  As evidenced by the launch of Panther Better Green Building Company and its principals have been able to negotiate the regulatory maze as they sought to obtain financing for the project…a challenge that can be daunting.
   “It comes down to basic economics.  Like any other business, at the end of the day revenues have to exceed expenses,” commented Indart.  “In the homebuilding industry, that formula not only applies to the builder, but to the consumer who, in most cases, is borrowing money to finance the home purchase.”  In northern Nevada, land values and construction costs are finally beginning to approach a level where homes can be built and sold to buyers who can legitimately afford a conventional mortgage.  “As builders, we need to re-evaluate how we operate and do everything more efficiently.  We’re all changing, but in some cases, that change is for the better.”