When it Comes to Building, Buying or Selling Homes, Clean Isn’t Just Nice, It’s Essential

As a homebuilder for four decades I’ve always been aware that when it comes to building, buying or selling homes, clean isn’t just nice, it’s essential. A clean house under construction acts as an incentive to subcontractors to keep their work areas clean and seems to encourage them to pay attention to details. Additionally, a clean . . . → Read More: When it Comes to Building, Buying or Selling Homes, Clean Isn’t Just Nice, It’s Essential

Builders Have Jumped on the Bargain Bandwagon

Builders Join the Bargain Bandwagon

While many homebuyers are attracted by the lure of low prices sometimes found in foreclosures, builders have jumped on the bargain bandwagon and may offer greater value and less hassle than is often associated with distressed sales. For those who prefer the features and amenities often found only in new . . . → Read More: Builders Have Jumped on the Bargain Bandwagon

Should Anyone Buy A Home In Today’s Market?

While home prices have dropped to the lowest levels in several years, and mortgage rates have achieved historic lows, not everyone should be a candidate for a new home. . . . → Read More: Should Anyone Buy A Home In Today’s Market?

Residential Construction Spending Declines in June

Private residential spending declined in June according to the U.S. Census Bureau as reported on Calculated Risk Blog.  The decline, though not dramatic, is probably the portent of an even greater decline in July due to the spring rush to beat the deadline for the Homebuyer Tax Credit.

Many homebuilders—those who remain in business—are either unable to . . . → Read More: Residential Construction Spending Declines in June

Homebuilders Surprised by Drop in Sales Following Expiration of Tax Credit

Officials from three of the nation’s top homebuilders, Ryland, Meritage, M/I Homes, ranked as number 9, 11, and 16, respectively, have all reported a drop in sales following the expiration of the Homebuyer Tax Credit.  At M/I Homes, second quarter sales fell by 21 percent due to a dramatic drop in the May/June numbers, while the . . . → Read More: Homebuilders Surprised by Drop in Sales Following Expiration of Tax Credit

Builder Confidence Turns Down–Again

The latest numbers from The National Association of Home Builders/Wells Fargo Housing Market Index shows that builder confidence has once more taken a negative turn.   With declining sales following the expiration of the Housing Tax Credit, home builders now realize that there is no sustainable housing recovery, and that the early spring surge was nothing more . . . → Read More: Builder Confidence Turns Down–Again

Proposed Senate Bill Extends Deadline For Housing Tax Credit

A bill just introduced in the Senate would extend the deadline for the Housing Tax Credit by 90 days, according to an ARTICLE in The Washington Post.  The bill, supported by the NAR, would grant those already under contract and extra three months to get their deal closed.  Many lenders, suffering from an overload of mortgage . . . → Read More: Proposed Senate Bill Extends Deadline For Housing Tax Credit

Waiting For A Homebuyer Tax Credit Refund?

Many Homebuyer Tax Credits are being delayed due to both the sheer volume of the requests and the number of erroneous or fraudulent returns. Those who have applied for the Tax Credit must confirm with the IRS that the return is being processed. . . . → Read More: Waiting For A Homebuyer Tax Credit Refund?

The April Housing Numbers In Context

While the April Report for housing starts sounds positive, the underlying truth is that it’s nothing to get excited about.  We’re coming off the worst housing market in decades; it would be surprising if we didn’t see improvement.  Let’s put the April housing numbers in context.

Certainly there is some positive news in an increase in housing . . . → Read More: The April Housing Numbers In Context

The Results of the Home Buyer Tax Credit Seem to be Mixed

While the home sales have experienced a recent surge due to the home buyer tax credit, the program seems to fall short of creating long-term benefit. . . . → Read More: The Results of the Home Buyer Tax Credit Seem to be Mixed