Most new real estate listings in metro Denver are priced at or more than $350,000. If a house is listed for under $350,000, it’s either decades old or in need of serious repairs. But The Denver Post reports that in Green Valley Ranch, Oakwood Homes has announced a new line of stand-alone starter homes called On2, which start in the low $300,000s. Oakwood's goal is to push starting prices down to less than half of the $600,000+ new starter homes in metro Denver. The homes aren’t spacious, only offering 1,100-1,200 square feet, but the two- and three-bedroom homes are sturdy, nicely finished, and energy efficient.
Oakwood Homes is initially making 96 of the homes available for sale, said Kristen Nelson, president of the On2 Homes division. The homes, as expected, are generating strong interest from first-time buyers looking to break into the market — singles as well as young families with a child or two, she said.
The eventual goal is to provide 1,000 or more of the low-cost homes a year depending on demand, which would make them a dominant share of the 1,700 homes that Oakwood Homes now sells a year, said Pat Hamill, chairman CEO of Oakwood Homes, on a tour of prototypes of the new On2 Homes.
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