It is almost the New Year!!!! Wow...this year has gone by quickly....and holy cow...what a year it has been. To you and yours all the best for the Holiday Season and the New Year!
The year has produced some big challenges as well as opportunities. Certainly more challenges await us all...and frankly I am thankful for each....they make us stay sharp and get better...(however I think we could all use a bit of a break from the number of them).
Yes.....there are opportunities right now....and some are pretty unusual...and probably will not be re created or present themselves again any time soon.
I keep saying this...and will do so probably until I can not say it anymore.....If you are thinking about buying a home....any home...used or new....now is the best time to do so..... If you know anyone who can, is thinking about...or should consider buying...now is the time to encourage them to do so. Why?
Affordability of real estate is outstanding...arguably best ever levels.....As David Crowe, Chief Economist for the National Home Builders Association stated in the December 09 edition of Builder Magazine ( see www.builderonline.com )"the fall of interest rates has increased affordability significantly even if incomes have not changed significantly.....at current interest rates, a one-quarter percentage point change in mortgage interest rates has about the same impact on affordability for the median priced new home as a $6000 change in the mortgage amount". He goes on to say "The NAHB- Wells Fargo Housing Opportunity Index (HOI) is a more sophisticated measure of regional or across-time housing affordability. The HOI measures the share of recently sold homes that the (a) household with median income can afford......The national index averaged 60 between 1992 and 2002....before dropping to a cyclic low of 40.4 in the third quarter of 2006...reflecting the rapid rise in house prices relative to incomes (at that time).......Since the beginning of 2009...the index has risen to over 70...as both house prices and interest rates have fallen significantly...the current record high HOI is further confirmation that affordability is at its best in recent history".
Add the governments incentive (home buyers stimulus) and a first time buyer can gain a $8000 tax credit....and an existing buyer can gain a $6500 credit ( see www.newhometaxcredit.net for program details ) and the incentives become more pronounced!
For the above reasons, and others I have stated during the year (see www.eastbrookhomes.com/promotions/buynewbuynow.html )....now is a great time to buy a home. Do not miss out...or let those you know who may be able to take advantage of the opportunity....miss out....it is a great time to buy.
Have a happy Holiday....and a great new year!
Monday, December 21, 2009
Wednesday, November 25, 2009
Happy Thanksgiving
It is the time of year that is very special and important. Family and friends, fun and good food. Most important it is time to say thanks.
To all of you and yours, happy Thanksgiving.
To all of you and yours, happy Thanksgiving.
Wednesday, October 28, 2009
It is That Time of Year....
Hard to believe that it is time to prepare for the onset of winter.....
I was cutting my grass (hopefully for the last time) and as I passed by my outdoor faucets, the air conditioning unit among other things...it set in....
Time to winterize my house...probably good to remind all....
Remember to;
1) Take off all hoses from outside faucets. A hose that remains connected to the faucet is a certain precursor to freeze burst and a leak in your house.....
2) In some instances there are shut offs (inside the house) to your exterior faucets as well. Turn them to off and drain the line (turn on outside faucet).
3) Cover your air conditioning unit.
Most new homes are pretty maintenance free....but it still requires some simple effort (maintenance) on your part to keep your home in good working order...so you will not have any problems during the winter.......
Rock On!
I was cutting my grass (hopefully for the last time) and as I passed by my outdoor faucets, the air conditioning unit among other things...it set in....
Time to winterize my house...probably good to remind all....
Remember to;
1) Take off all hoses from outside faucets. A hose that remains connected to the faucet is a certain precursor to freeze burst and a leak in your house.....
2) In some instances there are shut offs (inside the house) to your exterior faucets as well. Turn them to off and drain the line (turn on outside faucet).
3) Cover your air conditioning unit.
Most new homes are pretty maintenance free....but it still requires some simple effort (maintenance) on your part to keep your home in good working order...so you will not have any problems during the winter.......
Rock On!
Friday, October 16, 2009
Lots of discussion about the First Time Home Buyers Tax credit again. The potential of the tax incentive ending, certainly is near, of course, unless it is extended by congress.
It appears that the incentive worked.....there are number of studies that show sales of existing and new homes have been positively affected by the stimulus. (see link)
http://www.fixhousingfirst.com/media-room/2009/09/news-study-shows-effectiveness.php
Many builders and others in the real estate industry would like to see the credit extended to all buyers. And there is much credible support outside the industry...as many economist and politicians are touting the need to extend the stimulus. What do you think?
It appears that the incentive worked.....there are number of studies that show sales of existing and new homes have been positively affected by the stimulus. (see link)
http://www.fixhousingfirst.com/media-room/2009/09/news-study-shows-effectiveness.php
Many builders and others in the real estate industry would like to see the credit extended to all buyers. And there is much credible support outside the industry...as many economist and politicians are touting the need to extend the stimulus. What do you think?
Friday, September 25, 2009
Parade of Homes
We are currently in the midst of Fall Parade season...the Parade of Homes....in both Grand Rapids and on the Lakeshore are underway. While the number of homes in the Parades are down, the traffic that we have seen so far is good. The Parade is a great opportunity for prospective buyers, folks looking for new interior desing ideas, or for those looking for a fun time.
Last night we had our Grand Opening at West Hamptons....our newest community in the Forest Hills School District. It was fun...and it was great to see all the new faces as well as many old friends. Thanks to all that made it.
And remember...it is a great time to buy a new home!
Rock on!
Last night we had our Grand Opening at West Hamptons....our newest community in the Forest Hills School District. It was fun...and it was great to see all the new faces as well as many old friends. Thanks to all that made it.
And remember...it is a great time to buy a new home!
Rock on!
Thursday, September 10, 2009
New Season
Hard to believe that it is football season already. It has been a long wet summer in Michigan. It would be great to have a nice fall. It has been a long challenging year....maybe things are really changing....
One thing that is changing is the first time home buyers stimulus. While there is some talk of an extension by congress, it certainly is not a certainty. For now, the stimulus is set to expire November 31. It is a great incentive for a new buyer to take the plunge, and enjoy the privilege and benefits of home ownership. If you know of anyone that has not ever owned or who qualifies...or someone who should buy (and qualifies)...now is the time.
Have a great fall...enjoy the season....
One thing that is changing is the first time home buyers stimulus. While there is some talk of an extension by congress, it certainly is not a certainty. For now, the stimulus is set to expire November 31. It is a great incentive for a new buyer to take the plunge, and enjoy the privilege and benefits of home ownership. If you know of anyone that has not ever owned or who qualifies...or someone who should buy (and qualifies)...now is the time.
Have a great fall...enjoy the season....
Wednesday, August 19, 2009
The American Dream....part 2
A while back I talked about the American Dream....and the importance of home ownership to the American Dream. Maybe I am still biased because we build and sell new homes, but needless to say I was very happy to see that many Americans agree.....
A recent study study commissioned by www.Bankrate.com found some reassuring and I think very positive results. Chief among the results was that 92% say that a home is a good investment for the future.
Another notable quote from this study was a statement from Greg McBride, Senior Financial Analyst for Bankrate " Houses are homes first and investments a distant second" I could not agree more...we, for whatever reasons, over the last few years, lost site of the true purpose of our homes ....they are our castles, refuge and place for family, friends, holidays, birthdays and other important events and memories. Yes, homes will appreciate in value (given we take care of them) but they are not a commodity like stocks and bonds...they are a center piece and anchor for your family and your life.
Realtor Magazine ran and article titled "Buyers Rush to Beat Tax Credit Deadline" . It describes a flurry of activity by first time buyers in the market trying to take advantage of the governments $8000 first time buyers tax credit prior to its expiration on November 30, 2009. "Because mortgage approvals, residential inspections, and other steps in the buying process typically take about 2 months, buyers hoping to take advantage of the incentive will need to have a contract by the end of September"
"The new flurry of activity, now as house-hunters try to meet the deadline, is triggering bidding wars and energizing the property market, which historically is slow at the end of summer. As a result more homes are getting their full asking price." (Realtor Magazine).
I can not say we have seen "bidding wars" but the stimulus has spurred activity and sales for us. I hope to soon see bidding wars ( wow that would be great)!
Rock On!
A recent study study commissioned by www.Bankrate.com found some reassuring and I think very positive results. Chief among the results was that 92% say that a home is a good investment for the future.
Another notable quote from this study was a statement from Greg McBride, Senior Financial Analyst for Bankrate " Houses are homes first and investments a distant second" I could not agree more...we, for whatever reasons, over the last few years, lost site of the true purpose of our homes ....they are our castles, refuge and place for family, friends, holidays, birthdays and other important events and memories. Yes, homes will appreciate in value (given we take care of them) but they are not a commodity like stocks and bonds...they are a center piece and anchor for your family and your life.
Realtor Magazine ran and article titled "Buyers Rush to Beat Tax Credit Deadline" . It describes a flurry of activity by first time buyers in the market trying to take advantage of the governments $8000 first time buyers tax credit prior to its expiration on November 30, 2009. "Because mortgage approvals, residential inspections, and other steps in the buying process typically take about 2 months, buyers hoping to take advantage of the incentive will need to have a contract by the end of September"
"The new flurry of activity, now as house-hunters try to meet the deadline, is triggering bidding wars and energizing the property market, which historically is slow at the end of summer. As a result more homes are getting their full asking price." (Realtor Magazine).
I can not say we have seen "bidding wars" but the stimulus has spurred activity and sales for us. I hope to soon see bidding wars ( wow that would be great)!
Rock On!
Tuesday, August 4, 2009
How do you Shop?
If you were to believc all that you read and hear, it would seem that social media is how everyone communicates. What do you use?
Do you twitter?
Do you have a Facebook page?
Do you follow a blog?
Do you look at YouTube?
A recent survey showed that when making a large purchase decision (over $25,000) people have migrated to virtual events, search engines (google, yahoo, bing, ), company web sites, business news, social media....and have left traditional things like face to face trade shows, and other traditional advertising.
How do you shop? Are you using traditional advertising or resources (newspaper) or are you now more reliant on the internet?
Do you twitter?
Do you have a Facebook page?
Do you follow a blog?
Do you look at YouTube?
A recent survey showed that when making a large purchase decision (over $25,000) people have migrated to virtual events, search engines (google, yahoo, bing, ), company web sites, business news, social media....and have left traditional things like face to face trade shows, and other traditional advertising.
How do you shop? Are you using traditional advertising or resources (newspaper) or are you now more reliant on the internet?
Monday, July 27, 2009
Value...like beauty is in the eye of the beholder...
Value was the theme of my last post, to which I would like to expand on. I obviously believe that there is much more to value than just price...but no one can argue that price is an important component.
Given prices importance in every one's decision making....what price is the best price? Is the price today at the best I will find? Or do I wait? Here are some facts.....that may help.
Inventories of new homes are now down to just over 8 months supply (from just over 10 months in May). Ideal inventories are in the 5 month supply range. The percentage of the real estate board activity in foreclosures has dropped again. Starts of new homes in West Michigan are at 16% of their high level for the area (along way from where they were..so less homes..and less inventory being built). Some mixed signals, but some things that may shed light on where pricing may go.
Interest rates have moved up from their lows from around 4.78% to around 5.25 right now.
Unemployment remains high....too high....Grand Rapids is now around 11.7% (up 5.6% from last year). Goodness knows....for things to get a lot better...in all areas of the economy...we need employment to start picking up....and that may take a bit.
All in all the price you pay right now will most likely be as good as you can find...and ultimately...given the right location and the right floor plan and features....will be the best value you will find for you and yours, for many years (hopefully ever ) to come! The value for you, is what return that you get from the home...is it right for you, your family, and at the right price....value is...like beauty...in the eye of the beholder.
Given prices importance in every one's decision making....what price is the best price? Is the price today at the best I will find? Or do I wait? Here are some facts.....that may help.
Inventories of new homes are now down to just over 8 months supply (from just over 10 months in May). Ideal inventories are in the 5 month supply range. The percentage of the real estate board activity in foreclosures has dropped again. Starts of new homes in West Michigan are at 16% of their high level for the area (along way from where they were..so less homes..and less inventory being built). Some mixed signals, but some things that may shed light on where pricing may go.
Interest rates have moved up from their lows from around 4.78% to around 5.25 right now.
Unemployment remains high....too high....Grand Rapids is now around 11.7% (up 5.6% from last year). Goodness knows....for things to get a lot better...in all areas of the economy...we need employment to start picking up....and that may take a bit.
All in all the price you pay right now will most likely be as good as you can find...and ultimately...given the right location and the right floor plan and features....will be the best value you will find for you and yours, for many years (hopefully ever ) to come! The value for you, is what return that you get from the home...is it right for you, your family, and at the right price....value is...like beauty...in the eye of the beholder.
Friday, July 10, 2009
The Eye of the Beholder....what is important to you?
Value, like beauty is in the eye of the beholder. What do you consider value????? In your home? In a new home????
Some would say it starts with the neighborhood....is it safe, is it a place where when you drive on to your street, you have a sense of....I'm home??? Is it a place you can walk and greet your neighbors and enjoy the surrounding's as well as get some exercise??? Could it be the design/feel of the community and inclusion of common areas or parks and other amenities???
Perhaps it then goes to the home you live in....is it attractive from the street??? Are there enough bedrooms??? Is there enough storage???? Does the kitchen work well for your family and lifestyle??? Is the floor plan right for your family? Does it feel like "home"???
Could it be how much effort goes in to the home and it's upkeep??? How energy efficient the home requires to be run (how much it cost to heat/cool or run)???? Maybe it is how confident you are in the construction and "what's behind the walls"???
Some may say it is the price...and price alone...of the home. Nothing else matters.
Which best describes your definition of value???? Is it more.....than price alone???
Some would say it starts with the neighborhood....is it safe, is it a place where when you drive on to your street, you have a sense of....I'm home??? Is it a place you can walk and greet your neighbors and enjoy the surrounding's as well as get some exercise??? Could it be the design/feel of the community and inclusion of common areas or parks and other amenities???
Perhaps it then goes to the home you live in....is it attractive from the street??? Are there enough bedrooms??? Is there enough storage???? Does the kitchen work well for your family and lifestyle??? Is the floor plan right for your family? Does it feel like "home"???
Could it be how much effort goes in to the home and it's upkeep??? How energy efficient the home requires to be run (how much it cost to heat/cool or run)???? Maybe it is how confident you are in the construction and "what's behind the walls"???
Some may say it is the price...and price alone...of the home. Nothing else matters.
Which best describes your definition of value???? Is it more.....than price alone???
Wednesday, June 24, 2009
Building New
I may be a bit biased, but why would anyone consider buying an existing home when they can build brand new? There are so many advantages that you get from buying new....
A new home is unique...and better....because...
It is on the site that only you can select...located just where you want in the community you want.
It is your home, including all your personal selections and the unique design that fits you and your family best and that makes your home uniquely yours.
It is built with the best technologies and efficiencies...the best builders will make sure your home is energy efficient ( energy star, or energy star plus (energy savings ...heating savings..can be as much as $114 per month for an 2000 sq foot home..new EB vs existing 15 yr old home)) , and built to today's exacting standards ( low maintenance products sure make life easier).
Process...building can be simple...we have a system that we have refined over the years, that makes the process simple, fun, and fulfilling...there is nothing like our National Award Winning Home Creation Studio...to help make good decisions. There is also nothing like our financing..... closing on a new home with Eastbrook Homes is as simple as closing on an existing home....done with a simple end loan...no construction loans are needed. Our team is the best...each of them...from Sales, the Design Center, Purchasing, Construction, Closing, Service....all have years of experience and strive to "Delight our customers and build each home as if it were our own"
So....why would someone buy an existing home????? I just do not know...but if you are interested in building....I would be happy to hear from you.
A new home is unique...and better....because...
It is on the site that only you can select...located just where you want in the community you want.
It is your home, including all your personal selections and the unique design that fits you and your family best and that makes your home uniquely yours.
It is built with the best technologies and efficiencies...the best builders will make sure your home is energy efficient ( energy star, or energy star plus (energy savings ...heating savings..can be as much as $114 per month for an 2000 sq foot home..new EB vs existing 15 yr old home)) , and built to today's exacting standards ( low maintenance products sure make life easier).
Process...building can be simple...we have a system that we have refined over the years, that makes the process simple, fun, and fulfilling...there is nothing like our National Award Winning Home Creation Studio...to help make good decisions. There is also nothing like our financing..... closing on a new home with Eastbrook Homes is as simple as closing on an existing home....done with a simple end loan...no construction loans are needed. Our team is the best...each of them...from Sales, the Design Center, Purchasing, Construction, Closing, Service....all have years of experience and strive to "Delight our customers and build each home as if it were our own"
So....why would someone buy an existing home????? I just do not know...but if you are interested in building....I would be happy to hear from you.
Thursday, June 4, 2009
Green Shoots
The news is filled everyday with many things....still a lot of which is commenting on how tough things are ( yes...things are tough...but hey...when has it ever been....really easy?). Thankfully we are now seeing and hearing more good news...or at least news with some positives (popularly termed "green shoots"). Housing Affordability is one (see my last blog), interest rates ( although rising a bit) to name a couple of green shoots.
I think we are going to see more and more "green shoots". Not just because I or we want to see them..but because there are some real positives (not a lot...but some) to report. From there...something that really can have a dramatic affect...and make a difference in perception and reality will kick in...our individual and collective attitude....emotion changes....the entire national psyche will start to change...from negative to more positive. If and when that happens...things may change even more quickly.
Here is a real positive (that does not get enough press)....that has a limited time frame....the government stimulus for first time home buyers. The guidelines have now changed so this can now be monetized...to help even more than the initial stimulus allowed (meaning rather than waiting, the amount (up to $8000) can be used for some up front costs with FHA loan). This is a great opportunity for first time buyers, and time is running out...if you are going to build.....closing must be by 11/30/09. Don't wait.
Rock on!
I think we are going to see more and more "green shoots". Not just because I or we want to see them..but because there are some real positives (not a lot...but some) to report. From there...something that really can have a dramatic affect...and make a difference in perception and reality will kick in...our individual and collective attitude....emotion changes....the entire national psyche will start to change...from negative to more positive. If and when that happens...things may change even more quickly.
Here is a real positive (that does not get enough press)....that has a limited time frame....the government stimulus for first time home buyers. The guidelines have now changed so this can now be monetized...to help even more than the initial stimulus allowed (meaning rather than waiting, the amount (up to $8000) can be used for some up front costs with FHA loan). This is a great opportunity for first time buyers, and time is running out...if you are going to build.....closing must be by 11/30/09. Don't wait.
Rock on!
Tuesday, May 19, 2009
Parade of Homes...did you miss an opportunity?
This week marks the begining of our parade of homes in Grand Rapids. A very fun event for both those looking for ideas in decorating as well as those who are interested in buying a new home......there are 42 homes in this years parade... some great homes to choose from...we have two in this years parade (also both Green Built Michigan Homes...and Energy Star )...so we hope to see you at one of our parade homes. For more details on the parade go to http://www.hbaggr.com/ for more information.
For those folks that are taking in the Parade this year...with the intent of buying new..buying now...more power to you ....you are very wise. The most recent National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index ( May 18, 2009) see http://www.nahb.org/ shows the index improving for the second month in a row.. and there is more postive news (green shutes???) everyday....
Housing Affordability also jumped 10 percentage points during the first quarter of 2009, to its hightest levele since the series began 18 years ago, according to eht Natinal Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released May 18. "Indianapolis was the most affordable major housing market in the country during teh first quarter.....Also near the top of the list of the most affordable major metro housing markets were Youngstown-Warren-Boardman Okio, Akron, Ohio; Grand Rapids-Wyoming, Mich; and Syracuse, New York. for more information please visit www.nahb.org/hoi
If you are considering a purchase of a new home...or an existing home for that matter...are you going to act now...or are you going to wait and kick yourself...for missing a once in a lifetime opportunity. The above mentioned articles are pointing towards postiives...in the market...both new homes and existing.....don' miss out....it is a great time to buy..and may never be better!
Rock On!
For those folks that are taking in the Parade this year...with the intent of buying new..buying now...more power to you ....you are very wise. The most recent National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index ( May 18, 2009) see http://www.nahb.org/ shows the index improving for the second month in a row.. and there is more postive news (green shutes???) everyday....
Housing Affordability also jumped 10 percentage points during the first quarter of 2009, to its hightest levele since the series began 18 years ago, according to eht Natinal Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released May 18. "Indianapolis was the most affordable major housing market in the country during teh first quarter.....Also near the top of the list of the most affordable major metro housing markets were Youngstown-Warren-Boardman Okio, Akron, Ohio; Grand Rapids-Wyoming, Mich; and Syracuse, New York. for more information please visit www.nahb.org/hoi
If you are considering a purchase of a new home...or an existing home for that matter...are you going to act now...or are you going to wait and kick yourself...for missing a once in a lifetime opportunity. The above mentioned articles are pointing towards postiives...in the market...both new homes and existing.....don' miss out....it is a great time to buy..and may never be better!
Rock On!
Monday, May 4, 2009
"And they are off...Mine That Bird..by a mile"
What a great Kentucky Derby.....unbelievable display of an underdog....just plain crushing all the competition...
Lots of good to take from this race...the underdog coming out on top....the rewards of working hard....and from what I could tell....a horse and jockey that just wanted to win more than the rest (and maybe a little good fortune). The joy that the jockey showed was just great to see ( I can not tell when a horse is happy but the horse was probably happy too).
What a story...and maybe a visual for us all to keep in our minds eye. The heck with the naysayers and doomsayers....success will come...for those who stick to their plan work hard and keep the faith...success really can and will come.
I say this race is like our economy, and our industry...we shall win...by keeping to what we know...working hard...and not listening to those that say how tough it is.
What a great story. What is yours?
Other News;
Eastbrook Homes is hosting another in our series of "Dreams and Designs " events. This one is focusing on "outdoor living" and "kitchens". We are fortunate to have some great partners for this event, including GE, Pottery Barn, Turfs R Us, Marcos American Bistro and 5th 3rd Bank. For more information see our web site.... http://www.eastbrookhomes.com/
Have a great day! Now go win a race!
Lots of good to take from this race...the underdog coming out on top....the rewards of working hard....and from what I could tell....a horse and jockey that just wanted to win more than the rest (and maybe a little good fortune). The joy that the jockey showed was just great to see ( I can not tell when a horse is happy but the horse was probably happy too).
What a story...and maybe a visual for us all to keep in our minds eye. The heck with the naysayers and doomsayers....success will come...for those who stick to their plan work hard and keep the faith...success really can and will come.
I say this race is like our economy, and our industry...we shall win...by keeping to what we know...working hard...and not listening to those that say how tough it is.
What a great story. What is yours?
Other News;
Eastbrook Homes is hosting another in our series of "Dreams and Designs " events. This one is focusing on "outdoor living" and "kitchens". We are fortunate to have some great partners for this event, including GE, Pottery Barn, Turfs R Us, Marcos American Bistro and 5th 3rd Bank. For more information see our web site.... http://www.eastbrookhomes.com/
Have a great day! Now go win a race!
Sunday, April 19, 2009
Spring
It is refreshing to finally see the weather get nicer. There is nothing like sun, warmer weather, trees comming to life and flowers blooming.
With the nice weather comes the yard work, getting the fertilizer and weed prevention on, planting flowers and rebarking. A fresh face to your yard and a fresh start to the year. It is welcome.
Spring...there is nothing like it. Enjoy!
With the nice weather comes the yard work, getting the fertilizer and weed prevention on, planting flowers and rebarking. A fresh face to your yard and a fresh start to the year. It is welcome.
Spring...there is nothing like it. Enjoy!
Sunday, April 5, 2009
This week there were a variety of reports of improving real estate activity. Some of the reports were national...some were local.
John Burns, a nationally recognized real estate and banking consultant recently stated " Since we have been tracking the data for the major MSA's (metropolitan statistical areas) in 1981 there has never been a better time to buy a home. The median income an average household needs only 27 % of their income (an all time low) to qualify for the median priced home and that households are only paying 3.3X income for the house (3.1 times is the all time low). ( see newsletter1@realestateconsulting.com ).
John Rymer, another national consultant makes the following observations. "Those who are trapped by fear and frozen from making a decision as important as a new home purchase will just as likely miss out on a great time to become a homeowner. " "The math does not add up. America is creating twice as many households as new housing starts, a trend that will not continue."
This week the Grand Rapids Association of Realtors reported that sales were up by 19% in March....after an increase of 1% in February. The West Michigan Lakeshore Association of Realtors reported similar numbers. Both were quoted by the Grand Rapids Press, and Muskegon Chronicle among other media outlets.
These are but a few of the published statements and facts about real estate and new homes. There are many more. Most important is that there will most likely never be an opportunity to purchase a home (new or existing) like there is today.
Consider these facts and advantages as well as what is cited above......interest rates at under 5%....rates like these have not been seen since the 50's. The Government Stimulus has a tremendous incentive for first time buyers ($8000.). On top of those once in a lifetime advantages, sellers, builders like us are giving the best pricing and incentives we have ever provided.
So now is the time to buy. If you have any interest at all... Do not miss out, none of these will last long!
John Burns, a nationally recognized real estate and banking consultant recently stated " Since we have been tracking the data for the major MSA's (metropolitan statistical areas) in 1981 there has never been a better time to buy a home. The median income an average household needs only 27 % of their income (an all time low) to qualify for the median priced home and that households are only paying 3.3X income for the house (3.1 times is the all time low). ( see newsletter1@realestateconsulting.com ).
John Rymer, another national consultant makes the following observations. "Those who are trapped by fear and frozen from making a decision as important as a new home purchase will just as likely miss out on a great time to become a homeowner. " "The math does not add up. America is creating twice as many households as new housing starts, a trend that will not continue."
This week the Grand Rapids Association of Realtors reported that sales were up by 19% in March....after an increase of 1% in February. The West Michigan Lakeshore Association of Realtors reported similar numbers. Both were quoted by the Grand Rapids Press, and Muskegon Chronicle among other media outlets.
These are but a few of the published statements and facts about real estate and new homes. There are many more. Most important is that there will most likely never be an opportunity to purchase a home (new or existing) like there is today.
Consider these facts and advantages as well as what is cited above......interest rates at under 5%....rates like these have not been seen since the 50's. The Government Stimulus has a tremendous incentive for first time buyers ($8000.). On top of those once in a lifetime advantages, sellers, builders like us are giving the best pricing and incentives we have ever provided.
So now is the time to buy. If you have any interest at all... Do not miss out, none of these will last long!
Sunday, March 15, 2009
Don't Miss Out
Some good news for the Stock Market last week. Sources as respected as Warren Buffet have either begun to invest in the stock market again or are advising to do so. Consultant John Burns said in his most recent newsletter that this is very likely one of the best times to buy a home because values are so attractive.
Interest reates are low, values are great....it is a great time to buy. Don't miss out.
Interest reates are low, values are great....it is a great time to buy. Don't miss out.
Sunday, February 15, 2009
Is it time?
We finally know what the governments stimulus package is...and it does provide a tax credit to first time home buyers. $8000 for all sales until December 1 , 2009, available to those who have not owned a home in the last three years....whose income is $75,000 or less for singles and $150,000 for couples. This is a significant benefit to those who qualify and should be taken advantage of ...why not....it is certainly better to own a home than rent.
House values have never been better....interest rates are currently at around 5.25%....not many times in our lifetime has it been more advantageous for buying....
President Obama will announce more this Wednesday regarding his housing plan (it is rumoured to be aimed at lowering payments....one would assume this will be done via lower rates...not sure but we shall see).
Rock on!
House values have never been better....interest rates are currently at around 5.25%....not many times in our lifetime has it been more advantageous for buying....
President Obama will announce more this Wednesday regarding his housing plan (it is rumoured to be aimed at lowering payments....one would assume this will be done via lower rates...not sure but we shall see).
Rock on!
Tuesday, February 10, 2009
Get Involved
There is some good potential in what our governments stimulus package (at least the Senates version) may bring. For housing the proposed $15,000 tax credit for anyone buying a home is significant step towards bringing "fence sitters" into the market...which should help reduce excess inventory and foreclosures, as well as improve consumer confidence.
Stay tuned, and get involved. Go to http://www.fixhousingfirst.com/ for more details and to communicate with your legislators (right now the focus is your senators) to support this effort. Tax breaks have proven to be effective to economic recovery.
Rock on.
Stay tuned, and get involved. Go to http://www.fixhousingfirst.com/ for more details and to communicate with your legislators (right now the focus is your senators) to support this effort. Tax breaks have proven to be effective to economic recovery.
Rock on.
Monday, January 26, 2009
Underwater Cave Diving.... which diver are you?
I am frankly....a bit.... ticked.
I marvel at the overwhelming amount of "doom and gloom" news and seeming lack of desire of many (in society in general..the press, and even some in building and real estate ) to see or be willing to see anything but negative around them. Not that I believe we can stick our head in the sand and ignore difficult truth. The current conditions in our economy, in building new homes, and in real estate, ..is tough....no question. However, continuous flogging ourselves with incessant regurgitation of bad or negative news, gains nothing...except perhaps....some degree of desperation and or panic that causes us to ignore the most important thing we can do.....take true stock of the situation so we can take rational and meaningful action.
A wise man I know, recently shared a story that I found very analogous to our current situation...and infatuation with the negative. The story was about "underwater cave divers". Two similarly experienced divers were in a cave....and became somewhat disoriented....they both panicked a bit...and kicked up some silt.....
The first diver kept kicking up more and more silt....which made it impossible to see or get his barrings....which caused more panic....and more kicking...more silt...until this one diver could not take it anymore...and in a misguided effort to get to the surface...ripped off their regulator and mask.....and perished...
The second diver took another tact.....after realizing the silt that was causing their disorientation was their own doing (panic....kicking), the second diver stopped and took stock of the situation....and waited for the silt to settle....and to get her barrings...with a bit of time...and careful analysis of the facts..the second diver was able to safely extricate herself from the cave and to safety.
Which diver are you?
I marvel at the overwhelming amount of "doom and gloom" news and seeming lack of desire of many (in society in general..the press, and even some in building and real estate ) to see or be willing to see anything but negative around them. Not that I believe we can stick our head in the sand and ignore difficult truth. The current conditions in our economy, in building new homes, and in real estate, ..is tough....no question. However, continuous flogging ourselves with incessant regurgitation of bad or negative news, gains nothing...except perhaps....some degree of desperation and or panic that causes us to ignore the most important thing we can do.....take true stock of the situation so we can take rational and meaningful action.
A wise man I know, recently shared a story that I found very analogous to our current situation...and infatuation with the negative. The story was about "underwater cave divers". Two similarly experienced divers were in a cave....and became somewhat disoriented....they both panicked a bit...and kicked up some silt.....
The first diver kept kicking up more and more silt....which made it impossible to see or get his barrings....which caused more panic....and more kicking...more silt...until this one diver could not take it anymore...and in a misguided effort to get to the surface...ripped off their regulator and mask.....and perished...
The second diver took another tact.....after realizing the silt that was causing their disorientation was their own doing (panic....kicking), the second diver stopped and took stock of the situation....and waited for the silt to settle....and to get her barrings...with a bit of time...and careful analysis of the facts..the second diver was able to safely extricate herself from the cave and to safety.
Which diver are you?
Friday, January 16, 2009
Its Colld outside!!!!! But Cozy Warm inside!!!
Wow it is cold here in West Michigan right now............but it is really kind of fun too...as long as you do not be outside a lot (unfortunately it makes building a little bit harder...but we keep moving along...). You can go home...turn on your TV...your fireplace...and enjoy the cozy warmth of your home.....(maybe even have the family dog at your feet).....watching your favorite show or reading a good book.
If you are in a new home...a new Eastbrook Home...you can rest comfortably.....knowing that your home is Energy Star Plus rated...and is sealed tightly from the elements...and for energy efficiency. Kind of comforting to know you are warm and cozy....and saving money....on utilities...because your home is energy efficient.
Check out our website for the savings you can attain.....might be worth a look. Please go to http://www.eastbrookhomes.com/ .
Stay warm....
If you are in a new home...a new Eastbrook Home...you can rest comfortably.....knowing that your home is Energy Star Plus rated...and is sealed tightly from the elements...and for energy efficiency. Kind of comforting to know you are warm and cozy....and saving money....on utilities...because your home is energy efficient.
Check out our website for the savings you can attain.....might be worth a look. Please go to http://www.eastbrookhomes.com/ .
Stay warm....
Friday, January 9, 2009
Opportunity....Once in a Lifetime????
Are you looking forward to this year? I am....and I believe for good reason.
First there is simply the change that a new year brings....it just feels better knowing we have a fresh start....to the year.
Second...there is political change...and no matter your political leaning, the change can, and if we all pull together will, make a significant difference to the years (and far beyond) success economically... and to our nations psych.
All this will add up to a positive change...and positive things...slowly mind you... but still positive in many regards.
In new homes sales there will be change....and if you are considering buying...there is probably not going to be many times in your life that you will be able to buy as well as you can now..and in 09. Why????? Not just because I am in the business do I say this ... partly so....but because I see it every day.....Prices are as good (low prices) as we have seen in many years..and we as builders are aggressive in pricing our products.....Interest Rates are low....historically very low.....and construction technologies and techniques are improving and bringing significant value (literal savings in energy and resources...green) to the equation ( see http://www.eastbrookhomes.com/ for energy savings and green building information). There may be no time in our lifetimes that is a better time to buy......
Who knows where the true bottom of housing will be....for anyone to tell you they know when it has occurred or will occur... would be miss guided....because we will not really know when it (the bottom) was until we are looking at it from our rear view mirror.
Whenever it is or will be....given the above...I would ask this....do you want to miss what may be the opportunity of a lifetime???? This year (maybe right now) may very well be a truly unique opportunity...an opportunity of a lifetime!
Have a great day...and if you are interested in buying a new home....let me know...I would be happy to serve you!
Rock On!
First there is simply the change that a new year brings....it just feels better knowing we have a fresh start....to the year.
Second...there is political change...and no matter your political leaning, the change can, and if we all pull together will, make a significant difference to the years (and far beyond) success economically... and to our nations psych.
All this will add up to a positive change...and positive things...slowly mind you... but still positive in many regards.
In new homes sales there will be change....and if you are considering buying...there is probably not going to be many times in your life that you will be able to buy as well as you can now..and in 09. Why????? Not just because I am in the business do I say this ... partly so....but because I see it every day.....Prices are as good (low prices) as we have seen in many years..and we as builders are aggressive in pricing our products.....Interest Rates are low....historically very low.....and construction technologies and techniques are improving and bringing significant value (literal savings in energy and resources...green) to the equation ( see http://www.eastbrookhomes.com/ for energy savings and green building information). There may be no time in our lifetimes that is a better time to buy......
Who knows where the true bottom of housing will be....for anyone to tell you they know when it has occurred or will occur... would be miss guided....because we will not really know when it (the bottom) was until we are looking at it from our rear view mirror.
Whenever it is or will be....given the above...I would ask this....do you want to miss what may be the opportunity of a lifetime???? This year (maybe right now) may very well be a truly unique opportunity...an opportunity of a lifetime!
Have a great day...and if you are interested in buying a new home....let me know...I would be happy to serve you!
Rock On!
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