A Conversation About Real Estate
Scott Hobbs joins Boroughs & Burbs for a wide market conversation, and lays out where Hobbs builds, from New York City to the Hamptons.
Watch · Boroughs & BurbsThe market, and where Hobbs builds
On episode 37 of Boroughs & Burbs, hosted by John Engel and Roberto Cabrera, Scott Hobbs of Hobbs, Inc. joined a wide market conversation alongside Michael Goldenberg, Tony Fox, and others. Scott laid out where Hobbs works, northern New Jersey, New York City, the Hamptons, and the Westchester and Fairfield County area, and why the firm goes for better projects at better margins rather than sheer size.
On the market, his read was demand over interest rates. At the top, buyers are largely paying cash, so the gap between a three and a four percent rate is not what moves them. He also talked about how regulation and permitting decide where a builder will and will not work, and why, in the end, reputation and a track record are what get a project built. Watch above.
What Scott brought to the table
Hobbs keeps a core team of about 125 and a deep bench of subcontractors, so a couple thousand people can be at work on Hobbs projects on any given day.
Hobbs builds custom homes across northern New Jersey, New York City, the Hamptons, and the Westchester and Fairfield County area.
The firm chooses fewer, better projects over sheer size, and puts the quality of the work ahead of growth.
Scott’s read on the high end: buyers are largely paying cash, so the gap between a three and four percent rate rarely moves them. Demand does.
Regulation and permitting shape where a builder takes on work. Fees layered on private development make building slower and costlier, and can push a builder out of towns where approvals stay uncertain.
In the end, reputation and a track record are what get a custom home built, more than any pitch.
The market, in short
Where does Hobbs build custom homes?
Hobbs builds custom homes across northern New Jersey, New York City, the Hamptons, and the Westchester and Fairfield County area. The firm keeps a core team and a trusted network of subcontractors in each market, and Scott’s preference is fewer, better projects over sheer size. You can see the range across our completed work.
Do interest rates drive the high end of the market?
Less than most assume. At the top of the market, buyers are largely paying cash, so the difference between a three and a four percent rate rarely decides a purchase. What moves it is demand, and whether the buyer is doing well. For an owner weighing a project, the choice usually comes down to the home and the timeline, not the rate. See how we work.
How does Hobbs run a project?
Hobbs keeps a core team of about 125 and manages a deep bench of subcontractors, so a couple thousand people can be at work on Hobbs projects on any given day. The firm handles the management inside and out, so a client works with one team from planning through the final detail, whether the home is in the Hamptons or New York City. More on the approach in how we work.
How does permitting affect a custom home project?
Fees and permitting on private development make building slower and more costly, and they vary widely from town to town. That friction can even push a builder out of places where approvals stay uncertain. Hobbs manages the planning and permitting alongside the build, which is part of why the firm works in markets it knows well. When you are ready, start a conversation.
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Featured on Boroughs & Burbs, the National Real Estate Conversation, hosted by John Engel and Roberto Cabrera.