Archive for the ‘Home Builders’ Category

National Home Builders Celebrate Rise in New Housing Sales

Tuesday, November 2nd, 2010

New housing sales rose in the U.S. for September by 6.6% when compared with August 2010. The report from the U.S. Commerce Department has been welcomed by national home builders who have suffered through five consecutive months of the poorest sales on record since 1963 when the National Association of Home Builders started keeping track of sales figures.

However, some housing market analysts have stated that the nationwide housing sales figures for September only seemed an improvement because previous months' totals have been really low. They further added that overall sales totals will remain low so long as consumers remain wary of the threat of unemployment.

Locally, sales of homes in Frederick County, Maryland for September declined to 195 from 208 in August based on data released by the Maryland Association of Realtors. Local realtors have reported that most home buyers are afraid to make any purchase because of stories they have heard from others about finding it difficult to sale their properties due to declining values and unsteady job markets.

National home builders and realtors all over the country are reportedly frustrated by the pervading fear among potential home buyers. They reported that, despite the low mortgage loan rates on offer and the huge supplies of affordable dwellings, buyers are still staying away from the home selling market.

However, small portions of regions near Maryland are reporting stronger home selling markets, including Washington D.C. and Northern Virginia. This news has been welcomed by Frederick County realtors, with most of them expecting the good fortune of these areas to trickle down to the county and precipitate a recovery within the coming six months.

With overall housing sales climbing, confidence among builders is also improving, according to market observers. The Housing Market Index of the National Association of Home Builders has shown improvement along with sales numbers. The index is pegged at 16 for September which equals the June 2010 index.

Most national home builders are optimistic that the rise in home sales will continue slowly through the rest of 2010. They did however, cited difficulties in acquiring credit as one of the factors that can hinder the market from mounting a serious recovery.

Custom Home Builders Won Pike County Award

Friday, October 8th, 2010

Ed Nikles Custom Builder Inc., one of Pennsylvania's top custom home builders, took home top honors at the 2010 Pike County Builders Association (PCBA) special event held on September 14, 2010. The firm won the builder construction and architectural awards for the category covering 3,500-4,500 square-foot-structures.

According to the company, the homeowners that earned the firm their awards, came to Nikles and presented a magazine picture showing a house they want. The company took the photograph and made a list of the client's requirements and created a custom-made dwelling for them.

The winning home has a space of 3,877 square feet and is located in a five-acre land. It features a master bedroom that has vaulted ceilings, a bath, a whirlpool tub, a stone fireplace, built-in closets and access to the sundeck. The foyer led to the bedroom suite with all the walls made of glass. The right side of the room features an informal dining space adjoining the huge kitchen that features granite and tile materials.

Nikles is one of the country's top custom home builders and is also known to be a full service design and home construction firm. The company has won several state as well as national honors from bodies like the NAHB or the National Association of Home Builders because of their commitment to provide 100 percent customer satisfaction.

The recent home built by Nikles, which earned for the company its latest honor, has been praised for its one of a kind plan and design. Aside from the master suite, it also features a formal dining space, a garage for three automobiles and an open staircase that leads to the second floor. There are also several guest bedrooms, an entry deck, a balcony, a sundeck and a basement, which were brought together cohesively by one of the state's top custom home builders.

More Home Builders Are Confident about Recovery This Year

Thursday, February 18th, 2010

Confidence among home builders in the country rose in February this year, based on the growth of the Index of Builder Confidence of the National Association of Home Builders and Wells Fargo.

In February, the index climbed up to 17, higher than the previous index of 15 and higher than the prediction of analysts. It was also the highest point reached over the past three months.

The buyer traffic gauge stood at 12 and the measure of sales prospects surged to 27, up from the January reading of 26.

According to analysts, although figures below 50 mean that most home builders view the industry situation as poor, the increase in the index meant that builders are less gloomy about their prospects for recovery. One of the factors that have encouraged builders is the expansion and extension of the homebuyer tax credit program.

The general economic index of the Federal Reserve Bank of New York also climbed up to 24.9 in February from the January reading of 15.9. Readings above zero mean that New York and portions of Connecticut and New Jersey have significant growth prospects.

According to Michigan businessman and NAHB chairman Bob Jones, optimism is growing among home builders because of the still low mortgage rates, the improvement of the tax credit scheme and the apparent stabilization of home prices.

Of the four regions tracked by the index, confidence surged in two regions, rising to a record 19 in the South and to 13 in the Midwest. In both regions, the index rose by two points.

In contrast, confidence dropped to 19 in the Northeast and to 14 in the West. The index fell by one point in both regions.

David Crowe, the chief economist of NAHB, said that the tax credit expansion has been a positive factor for builders, but the continued foreclosures are still pushing down the level of builder expectations.

As predicted by a foreclosure tracking firm, about 3 million homes will be taken back by mortgage banks this year because of depressed property values and high unemployment rates. Last year, 2.82 million homes were put into the foreclosure process.

According to survey respondents, housing starts may have increased to an annual rate of 580,000 units in January from 557,000 units in December last year. If the scheduled release of the Commerce Department report affirms the projection, the 4.1-percent increase in housing starts shows that home builders have begun to act on their optimism.

Home Builders Getting Windfall from Tax Refunds

Friday, November 13th, 2009

Home builders across the country, particularly the biggest home construction firms, will be receiving hundreds of millions in bonanza from tax refunds resulting from the approval of the new tax refund legislation recently. The tax refund would enable companies to recover from their losses, especially large firms which can claim refunds of taxes they have […]

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Maryland Home Builders Encouraged by Good Market Signs

Monday, October 5th, 2009

When the mortgage industry collapsed, home builders were among those who suffered the worst of it. Those who had the foresight to prepare for the collapse of the housing market were able to survive while most of those who ignored the warning signs were left with no other option but to declare bankruptcy. In the […]

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Home Builders in FL Alarmed by Toxic Drywall

Thursday, October 1st, 2009

Home builders in FL are alarmed after finding out that Chinese drywall used by some home builders have been found to be toxic and hazardous to health. In an effort to intensify their efforts against hazardous chemicals and compounds, the Chinese Drywall Complaint Center has been increasing its programs to educate home and property owners […]

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Green Trends in New House Construction

Monday, May 18th, 2009

Green house building is getting more popular in new house construction. In fact, two newly constructed homes in Elmhurst are both green homes. This information was given by Laura Reedy Stukel, a certified agent of EcoBroker at LW Ready Real Estate. The first house was constructed under the supervision of Styczynski Walker and Associates. The […]

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Tax Credits Boost House Construction

Wednesday, May 6th, 2009

A number of home builders are currently experiencing the long-awaited boost in sales in the past six weeks. This is due to the new-home tax incentive in California. According to the Franchise Tax Board of the state, home buyers got more than $30 million of the $100 million pot money for California. This has created […]

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House Builders are for the New California Tax Credit

Thursday, March 5th, 2009

March 1 marks the start of the new state tax credit of California allotted for buyers of new and unoccupied houses. Excited home builders are now doing quick and big campaigns around about the great tax break which is suited for the new model homes soon to be out in the market. The tax credit […]

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Home Builders Also Losing Homes to Foreclosure

Thursday, February 5th, 2009

Astoria Homes, a private home building company has fallen prey to the housing market slump. The local company has been forced to fire 17 employees just last week. Now, it only has 17 employees on its roll, a mere tenth of its entire workforce in 2005-2006, and Astoria Homes President Tom McCormick says that the […]

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