Keller Williams On The Water

Top 10 Reasons Home Buyers Prefer New Homes vs. Used
  • Post By : New Home Ambassador
  • new home construction,why buy new,new homes vs used,new home,benefits of new home construction

Today's new homes offer more benefits than ever before. Here's a quick list of the Top 10 reasons why so many home buyers prefer new homes to used houses:

1) Design Your Dream Home Your Way: Why settle for someone else's choices when you can select your favorite cabinets, countertops, appliances, carpets and flooring? While you're at it, you can choose gorgeous bath and kitchen fixtures, lighting and other options that you love. Your new home will reflect your style, not someone else's taste.

2) Choose a Floor Plan and Room Layout that Meets Your Needs: Want a master bedroom on the first floor? It's yours. With massive his and hers walk-in closets? Done! Want high ceilings and a luxurious, resort-style master bath? Perhaps you'd like a sitting room with a fireplace in your owner's suite or French doors that open to your private patio or the pool? It's easy, when you build your master suite your way.

3) All New, Under Warranty: A used home likely has tired products that may soon need replacing. Your new home — and the products that comprise it — are brand-new and under warranty. What's the cost to replace a roof, appliances, countertops or a water heater on a used home? Those components of your new home feature the latest designs and building materials and should offer you years of comfort and enjoyment before needing replacement.

4) Energy and Cost Savings: Today's new homes are far more energy efficient than homes built just five years ago. Versus homes built ten or 20 years ago, it's game over, advantage new. Why settle for drafty, energy-wasting single-pane windows in a used home? Many new homes offer double or even triple-pane windows. Special window coatings and inert gases between the layers of glass are often available, saving you even more energy and money in both heating and cooling season.

5) Comfort and Indoor Air Quality: Today's new homes meet stringent energy standards and codes not in place in the past. They combine high-performance energy efficiency with state-of-the-art ventilation and air filtration. The result is year-round, draft-free comfort and higher indoor air quality.

6) Low Maintenance: New cars today are computer-designed and computer-equipped. That's why they perform much more reliably than a car that's 15 or 20 years old. Homes are the same. Today's new homes have open floor plans and high ceilings that reflect the way we live today. They're also made of cutting-edge building products that require less care and maintenance. Another plus? The latest building systems and components are designed and engineered to work together.

7) Community Amenities: Many new homes are built in lavish master-planned communities with resort-style community centers, pools and clubhouses. Many new home communities also feature hiking trails, protected open lands and some of the best new schools and shopping near (or even within) your new home community.

8) Advanced Technology and Design: It's possible to replace all of the single-pane windows in a resale home with today's high-performance windows. It's also possible to add insulation to a used home. However, it's very expensive to replace dated appliances, cabinets and countertops in a used home — and you still won't have the high ceilings you dream of on the first floor of an older two-story home. All are reasons to build your new home your way, to reflect the way you live today.

9) Safety: State-of-the-art circuit breakers. Electric garage door openers with infrared beams that stop if a tricycle or child is too near. High-efficiency furnaces and air conditioners that use the latest environmentally-friendly coolants. Cabinets, carpets and paints that use fewer volatile organic compounds, so that you and your family can breathe easier.

10) That New Home Feel: A used home was someone else's dream, not yours. It reflects their choices and family memories. You may learn to love avocado-green appliances (and you may be willing to scrub stained countertops or grease-encrusted ovens and cooktops) but more and more people prefer that never lived-in feel.

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Housing starts rise in 2015, 2016 shines bright
  • Post By : New Home Ambassador
  • housing starts,housing market 2016,home builders,new home construction

Housing market shows promise moving into the new year. 

The National Association of Home Builders indicated housing starts finished up the end of 2015 on a high note, and the market shows promise in the new year. 

Housing starts and permits increase in 2015. The NAHB reported nationwide housing starts rose to 1.11 million units in 2015, up 10.8% when compared to the previous year. Single-family home starts increased 10.4% to 715,000 newly constructed units. 

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New Home Friday 01-29-2016
  • Post By : New Home Ambassador

Act Fast and Buy New Now!
  • Post By : New Home Ambassador
  • new homes,housing starts,jobs market,employment growth,housing,construction

The economy added 292,000 jobs in December, more than anyone predicted, pushing 2015 into a robust year for employment growth. Builders in particular reported a spurt of hiring, a good sign for housing.

The good news is we’ve had two really strong back-to-back years for job creation. Wages are up 2.5 percent from a year ago, and more people joined the labor force in December, according to a report from the Labor Department.

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Designing Your New Construction Home
  • Post By : New Home Ambassador
  • new home options,design your new home,flooring,kitchen options,new construction homes

Building your new home allows you to tailor your home to your current needs and your personal taste.  That’s what’s great about building a home.  You can dream big and your options are unlimited.  But what if you budget isn’t?  How do you choose the best upgrades and stay within your budget?

New Home vs. Resale: Which is Right for You?
  • Post By : New Home Ambassador
  • new home vs resale,buying a new home,new construction homes,home buying

Is a newly built home right for you? Do you want a home that you’ve helped design and that offers the latest in energy efficiency and design? Or a previously owned home that may need fix-ups, paint jobs, and walls moved around to create the types of open spaces that make sense today?

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Predictions for the 2016 Housing Market
  • Post By : New Home Ambassador
  • housing market predictions,real estate 2016,housing market 2016

Based on a study by Forbes Magazine, in 2016 and 2017, housing construction will increase and home prices will continue to rise.  This is a result of more occupied housing which indicates a strengthening market in 2016. 

Most economists agree that housing prices and sales will continue to grow in 2016, just at a slower pace.  According to a recent report from RealtyTrac, for more than one-third of the nation’s major metro areas, home prices have reached all-time highs in 2015.  As mortgage rates increase and home prices wane, sales will grow about half as fast as they did this year and prices will rise at a steadier pace – 3.5% to 4.5%, down from 6% in 2015.

It will be easier for more Americans to qualify for a mortgage in 2016.  Lenders are taking steps to find new ways to measure creditworthiness such as evaluating credit scores based on a person’s rental history and utility bill payments.  They will also include income from room rentals and family members.  A bill was just introduced in the House of Representatives which would allow Freddie Mac and Freddie Mae to consider alternative credit-scoring models.

There will be more first-time home buyers.  First-time home buyers will make up a larger part of the market than in 2016 due to the reasons mentioned above… slowing prices and easier ways to qualify for mortgages.  This will give millennials the ability to purchase a home in 2016.  Lynn Fisher, MBA’s Vice President of Research and Economics, said, “Improving employment markets will build on major demographic trends – including maturing of Baby Boomers, Hispanics and Millennials – to create strong growth in both owner and rental housing markets over the next decade.”

Slower markets mean slower closings.  The market is expected to slow next year because government-backed loans will be more common and cash sales will decrease. 

The biggest risk to the housing market in 2016 continues to be shortage of inventory.  The number of homes for sale was down from 2014 to 2015 in 45 of the 60 metro tracked by Redfin. Inventory across all 60 metros is down 4 percent from a year ago.  In the most recent pending home sale report from NAR, sales have plateaued due to a shortage of homes and fast rising prices in some markets.

 

 

 

2016 Housing Forecast: New Construction to Drive Highest Home Sales since 2006
  • Post By : New Home Ambassador
  • new home construction,national housing outlook,top housing markets

 

New home construction and moderate gains in the existing home market will deliver the necessary one-two punch to push total home sales to the highest levels since 2006, according to the 2016 housing forecast issued this week by realtor.com . The forecast also identifies the top 10 markets for growth, as well as expectations for home prices and sales, interest rates and new home sales and starts.

2016 national housing outlook The 2016 housing market is expected to be a picture of moderate, but solid growth as acceleration in existing home sales and prices both slow to 3 percent year over year due to higher mortgage rates, continuing tight credit standards, and lower affordability. The new construction market will see more significant gains in the coming year as new home starts increase 12 percent year over year and new home sales grow 16 percent year over year. Total sales for existing and new homes will reach 6 million for the first time since 2006, a result of a strong gross domestic product increase of 2.5 percent and continued job creation. These healthy economic indicators will be tempered by lack of access to credit and rising home prices, which will ultimately limit housing demand and growth.

"Next year's moderate gains in existing prices and sales, versus the accelerated growth we've seen in previous years, indicate that we are entering a normal, but healthy housing market," says Jonathan Smoke, chief economist for realtor.com . "The improvements we've seen over the last few years have enabled a recovery in the existing home market, but we still need to make up ground in new construction, which we could begin to see in 2016. New home sales and starts will bring overall sales to levels we have not seen since 2006 and will help set the stage for a healthy new home market."

Who are the 2016 home buyers? Next year's standout year in total sales will be driven by three distinct segments of home buyers-older millennials (25-34 years old), younger gen X'ers (35-44 years old), and retirees (65-74 years old), according to Smoke.

Millennials: They are expected make up the largest demographic of home buyers in 2016, having represented 30 percent of the existing home market. Driven by increasing income, millennials will seek out homes that meet the needs of their growing families-putting the most weight on the safety of the neighborhood and the quality of the home. Commute time and a preference for older homes have these buyers looking in city-centers and closer-in suburbs. According to realtor.com 's proprietary research, the following markets are expected to be some of the most sought-out markets for millennial home buyers in 2016, due to their large numbers of millennials, strong employment growth, and relative affordability.

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Mortgage rates see little change
  • Post By : New Home Ambassador
  • mortgage rates,lower interest rates,home mortgage

According to Freddie Mac's Primary Mortgage Market Survey, interest rates for U.S. home mortgages declined slightly or saw little change for the week ending Nov. 25

According to Freddie Mac's Primary Mortgage Market Survey, interest rates for U.S. home mortgages declined slightly or saw little change for the week ending Nov. 25. 

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Feds Raise Rates
  • Post By : New Home Ambassador
  • fed,raise rates,rate increase,housing market

December should be the month after years of zero interest, now is the time.

Why now you ask? Inflation is nearing 2.5%, the housing market is slowing, so why now? When the rates go up, Buyer's hop back into the market and get off the fence.

Rates are at a 30 year low and 1/2 % rate increase will not be felt by most. Gas prices are low, unemployment is low and most families have paid off or down their debt, so the economy is ready!

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