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Showing posts with label Best Building Time in a decade. Show all posts
Showing posts with label Best Building Time in a decade. Show all posts
Friday, February 15, 2013
All square feet are not created equal
Sunday, May 30, 2010
Building Boom !!!! ?
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One only needs to cruise the new neighborhoods and see all of the basements being started or homes under construction. Most are custom homes pre-sold to families that have decided now is the time to build, and how!!!
With banks pulled back and virtually not lending for speculative home construction it is hard for that new family coming into the area to find a new home to move into right away. After almost two years of these tight lending policies there seems to be no break or loosening of those policies.
We have begun the process of expanding our new single condo homes to a twin home style as well for a lower price point that we have not offered before. The starting price is at $189,000 for a large slab on grade home to the $230's for a fully featured home with a full basement. These homes are exactly like the singles we have been building except joined in a twin home style to economize the land costs of building.
We continue to expand on the Universal Design styling and include even more standard elements, not just in our custom condo's but in all of our building. These homes just live better for all families and age groups.
We are able to locate your home in almost any neighborhood in the Cedar Valley area as location remains one of the top elements in the success and financial future of a new home.
Call today and lets start planning while prices are stable and choice lots are available.
Call Craig
www.CraigFairbanksHomes.com
www.CraigtheBuilder.com
Cell: 319-404-0412
Off: 319-553-1457
Thursday, October 8, 2009
Good New for House Tax Credits
The following article was written in todays New York Times and indicates that likley the $8,000 tax credit to purchase a home will continue and not only for first time home buyers.
Democrats May Extend Tax Credit for Homes
Article Tools Sponsored By
By JACKIE CALMES
New York Times
Published: October 7, 2009
WASHINGTON — Democratic Congressional leaders are working with the White House to extend an expiring $8,000 tax credit for first-time home buyers, and aides said Wednesday that they were considering making it available to current homeowners who purchase a new residence.
Extending and possibly expanding the popular home-buyers credit, which is due to expire after November, is high among options for further stimulating the economy and creating jobs, Congressional aides said, though a White House official said it was only briefly mentioned on Wednesday in an Oval Office meeting between President Obama, Speaker Nancy Pelosi of California and Senator Harry Reid of Nevada, the Senate majority leader.
The Democratic leaders met with the president to discuss a broad range of options to combat persistent high unemployment, officials say. The existing credit for first-time home buyers will expire at the end of next month if not extended, and two other components of the economic safety net — unemployment compensation and health care benefits for those who have been out of work for long periods — will expire at the end of the year.
Keeping the home-buyers credit and broadening it has been a priority for real estate agents and the home builders lobbies, and for Mr. Reid, who faces a tough re-election race next year in a state that has been among the hardest hit by the housing crisis since mid-2007. In a statement after the White House meeting, Mr. Reid said the government should “continue efforts to strengthen the housing market by extending the home-buyer tax credit.”
By the time it is scheduled to expire, for home purchases that close before Dec. 1, the home-buyers credit will be responsible for nearly 400,000 sales of new and existing homes, out of total sales of 1.4 million, said Mark Zandi, chief economist at Moody’s Economy.com. That is roughly in line with estimates from the National Association of Realtors.
Mr. Zandi, who formerly advised Senator John McCain, Republican of Arizona, and is now consulted by Democrats in the administration and in Congress, has advocated extending the credit through next August and making it available to all home buyers.
Allowing the credit to expire this year would result in a decline in sales of homes that are not facing foreclosure just as sales of foreclosed homes are expected to pick up, Mr. Zandi said in an interview, “putting further downward pressure on house prices.”
“The economic recovery will not evolve into a self-sustaining economic expansion and risks unraveling back into recession until house prices stop falling,” he added.
But the tax break is not cheap. Congressional analysts put the cost in lost tax revenues at about $1 billion a month. Mr. Zandi said that expanding the availability of the credit to more home buyers through August would cost perhaps $30 billion. While some in the housing industry have proposed nearly doubling the credit to $15,000, Mr. Zandi said $8,000 “seems to have been a sufficiently powerful incentive.”
While Democrats in Congress and the White House emphasize that no decisions have been made about the home buyers credit or any other measures, two officials said that the cost of extending the credit could be covered by redirecting money in the two-year $787 billion stimulus package that was scheduled to be spent after this year.
The current credit is limited to buyers who earn up to $75,000 a year, or couples who make $150,000; in gradually smaller amounts the credit is available to individuals with income from $75,000 to $95,000 and to couples making from $150,000 to $170,000. While the housing industry supports lifting the income caps so that even wealthy home buyers are eligible, White House and Congressional aides say that is not under discussion.
Industry officials counter that expediting home sales helps to stabilize home values now, which is essential for sustaining economic growth. And unlike car sales, home sales have a multiplier effect that spurs job-creating growth throughout the economy. Lawrence Yun, chief economist for the National Association of Realtors, said each house sale on average yielded $63,000 spent on goods and services, like moving vans and furniture.
Craig's Observations
All of this signals continued solid environment coupled with the lowest interest rates for mortgages that has not been seen in our lifetime. Building materials and products for new home construction have plummeted in price over the last 18 months.
Keep posted for additional credits allowed for building and improving your new home, like a 30% tax credit of the total cost of geo thermal heating for your home.
This is the time don't miss out!! You know it won't last for long as the government will need to pull back to pay off the deficit.
Craig Fairbanks
Owner
Build Buy or Sell Homes
Democrats May Extend Tax Credit for Homes
Article Tools Sponsored By
By JACKIE CALMES
New York Times
Published: October 7, 2009
WASHINGTON — Democratic Congressional leaders are working with the White House to extend an expiring $8,000 tax credit for first-time home buyers, and aides said Wednesday that they were considering making it available to current homeowners who purchase a new residence.
Extending and possibly expanding the popular home-buyers credit, which is due to expire after November, is high among options for further stimulating the economy and creating jobs, Congressional aides said, though a White House official said it was only briefly mentioned on Wednesday in an Oval Office meeting between President Obama, Speaker Nancy Pelosi of California and Senator Harry Reid of Nevada, the Senate majority leader.
The Democratic leaders met with the president to discuss a broad range of options to combat persistent high unemployment, officials say. The existing credit for first-time home buyers will expire at the end of next month if not extended, and two other components of the economic safety net — unemployment compensation and health care benefits for those who have been out of work for long periods — will expire at the end of the year.
Keeping the home-buyers credit and broadening it has been a priority for real estate agents and the home builders lobbies, and for Mr. Reid, who faces a tough re-election race next year in a state that has been among the hardest hit by the housing crisis since mid-2007. In a statement after the White House meeting, Mr. Reid said the government should “continue efforts to strengthen the housing market by extending the home-buyer tax credit.”
By the time it is scheduled to expire, for home purchases that close before Dec. 1, the home-buyers credit will be responsible for nearly 400,000 sales of new and existing homes, out of total sales of 1.4 million, said Mark Zandi, chief economist at Moody’s Economy.com. That is roughly in line with estimates from the National Association of Realtors.
Mr. Zandi, who formerly advised Senator John McCain, Republican of Arizona, and is now consulted by Democrats in the administration and in Congress, has advocated extending the credit through next August and making it available to all home buyers.
Allowing the credit to expire this year would result in a decline in sales of homes that are not facing foreclosure just as sales of foreclosed homes are expected to pick up, Mr. Zandi said in an interview, “putting further downward pressure on house prices.”
“The economic recovery will not evolve into a self-sustaining economic expansion and risks unraveling back into recession until house prices stop falling,” he added.
But the tax break is not cheap. Congressional analysts put the cost in lost tax revenues at about $1 billion a month. Mr. Zandi said that expanding the availability of the credit to more home buyers through August would cost perhaps $30 billion. While some in the housing industry have proposed nearly doubling the credit to $15,000, Mr. Zandi said $8,000 “seems to have been a sufficiently powerful incentive.”
While Democrats in Congress and the White House emphasize that no decisions have been made about the home buyers credit or any other measures, two officials said that the cost of extending the credit could be covered by redirecting money in the two-year $787 billion stimulus package that was scheduled to be spent after this year.
The current credit is limited to buyers who earn up to $75,000 a year, or couples who make $150,000; in gradually smaller amounts the credit is available to individuals with income from $75,000 to $95,000 and to couples making from $150,000 to $170,000. While the housing industry supports lifting the income caps so that even wealthy home buyers are eligible, White House and Congressional aides say that is not under discussion.
Industry officials counter that expediting home sales helps to stabilize home values now, which is essential for sustaining economic growth. And unlike car sales, home sales have a multiplier effect that spurs job-creating growth throughout the economy. Lawrence Yun, chief economist for the National Association of Realtors, said each house sale on average yielded $63,000 spent on goods and services, like moving vans and furniture.
Craig's Observations
All of this signals continued solid environment coupled with the lowest interest rates for mortgages that has not been seen in our lifetime. Building materials and products for new home construction have plummeted in price over the last 18 months.
Keep posted for additional credits allowed for building and improving your new home, like a 30% tax credit of the total cost of geo thermal heating for your home.
This is the time don't miss out!! You know it won't last for long as the government will need to pull back to pay off the deficit.
Craig Fairbanks
Owner
Build Buy or Sell Homes
Saturday, June 20, 2009
Summer may have arrived
It has been a cold wet spring and people have really been upset and cranky with the weather. Well this week it changed, at least we have summer temperatures but also lots of rain. At the rate it is coming down you might think we are experiencing a monsoon as humid as it is. Hopefully we won't have the flooding we experienced from last year.
Any way it does really slow the building process, and delays occur but that is part of the normal process early in the year. From my perspective it would be nice to build everything in last September or early October the best weather of the year.
Speaking of the best time to build a new home, it may be now!!! Lowest interest rates ever, lumber prices not seen in this decade and subcontractors offering better pricing to keep crews and business moving forward. It won't last for ever and when the national economy recovers, perception will change and it will you will see pricing go back to previous levels. However, in our area it has been real busy for many of the custom builders in the area yet price adjustments have occurred. Are building permits down from the highs? Yes but we are just back to a good normal and the huge amount of homes built yearly we saw in 2006 and 2007was unsustainable.
Most of the customers we are working with are budget conscience and builders like ourselves are working to fit that home in their price concerns. Its really fun again to be able to make those price adjustment for our customers so that they get the best deal that can be had and we can make a little profit to keep building which is our passion.
If you have been thinking that you would like to make a move, the real estate market here is short of homes. Maybe its time to check out your current home value as they have been moving up. I know my personal goal this year is to sell my current home a get a new one built in a great building climate.
Any way it does really slow the building process, and delays occur but that is part of the normal process early in the year. From my perspective it would be nice to build everything in last September or early October the best weather of the year.
Speaking of the best time to build a new home, it may be now!!! Lowest interest rates ever, lumber prices not seen in this decade and subcontractors offering better pricing to keep crews and business moving forward. It won't last for ever and when the national economy recovers, perception will change and it will you will see pricing go back to previous levels. However, in our area it has been real busy for many of the custom builders in the area yet price adjustments have occurred. Are building permits down from the highs? Yes but we are just back to a good normal and the huge amount of homes built yearly we saw in 2006 and 2007was unsustainable.
Most of the customers we are working with are budget conscience and builders like ourselves are working to fit that home in their price concerns. Its really fun again to be able to make those price adjustment for our customers so that they get the best deal that can be had and we can make a little profit to keep building which is our passion.
If you have been thinking that you would like to make a move, the real estate market here is short of homes. Maybe its time to check out your current home value as they have been moving up. I know my personal goal this year is to sell my current home a get a new one built in a great building climate.
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