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.

National Home Builders Celebrate Rise in New Housing Sales is a post from: HomeBuildingNet.com - The home building net!

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.

Custom Home Builders Won Pike County Award is a post from: HomeBuildingNet.com - The home building net!

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.

More Home Builders Are Confident about Recovery This Year is a post from: HomeBuildingNet.com - The home building net!

The tax refund would enable companies to recover from their losses, especially large firms which can claim refunds of taxes they have paid over the past 5 years.

The National Association of Home Builders lobbied hard for the passage of the tax break legislation, which also includes all other types of industries. But home builders say they will be helped significantly by the tax refunds because they were directly hit by the housing meltdown and suffered huge losses.

According to several financial analysts, the tax refund would not only help home builders recover; it would also increase the cash hoard of the biggest home construction companies in the country. They claim that the largest home builders have accumulated cash after selling most of their real estate properties over the past years and not building more homes.

Based on a report released by J.P. Morgan, each of the ten top home builders in the country has a cash hoard of about $1.2 billion, compared to their average of $616 million in cash in 2007.

Rob Stevenson, an analyst with investment bank Fox-Pitt Kelton, said that home builders sold a lot of their assets over the past years and that the tax refunds would be equivalent to free money added on top of their cash hoard.

Michigan-based home builder Pulte Homes expects to receive more than $450 million in tax refunds while Lennar Corp. of Florida could receive up to $300 million. Arizona-based Meritage Homes Corp. could claim around $60 million.

With these tax breaks, the extension and expansion of the federal tax credit for home buyers and other positive developments affecting home builders, credit rating agencies such as Credit Suisse upgraded home builders, sending prices of home building stocks to higher levels.

The stocks of Lennar rose by nearly 5 percent or 63 cents to $14.14 and the shares of Meritage increased by nearly 6 percent or $1.11 to $19.90.

According to many housing analysts, what the tax breaks would really significantly help are the small home builders, which had been battered by the housing crisis and which have temporarily closed their home building activities. The cash money would enable them to restart their operations and recover.

Home Builders Getting Windfall from Tax Refunds is a post from: HomeBuildingNet.com - The home building net!

In the past months, however, nationwide home sales have displayed a steady gain which encouraged those in the home building industry to slowly inch back in Maryland’s new single-family home market. In addition, inventory of newly-constructed properties is starting to dwindle as consumers take advantage of the $8,000 tax credit that the federal government gave as an incentive to first time home buyers.

Although the market conditions are not as favorable compared to that of the boom years, home builders are starting to reposition themselves in the market, fearful that they will be left behind once the industry fully recovers.

For instance, KB Home, a Los Angeles-based construction company, resumed its plans of building energy-efficient houses to meet the growing demand for green homes in Maryland. In addition, these residential properties come with floor plans that can meet any preferences and budget, allowing them to somehow compete with re-sales as well as foreclosures.

Caruso Homes, a local builder which suffered through a bankruptcy during the worst of the mortgage crisis, is already preparing to enter the market especially after it has fully satisfied its obligations to their creditors.

Now, the scaled-down company has already sold several homes in the past couple of weeks and will begin their construction in the next two months.

Of course, there are still a lot of challenges that these builders face. Among them is the lack of credit availability to purchase land for development. The enduring mortgage problems as well as rising unemployment are also important factors that need to be considered.

In summary, home builders find the current market conditions quite challenging. The building of these planned communities will still depend on the availability of financing and the pace of the recovery of the entire housing market.

But with the right products and careful planning, recovery for the industry is no longer an elusive dream.

Maryland Home Builders Encouraged by Good Market Signs is a post from: HomeBuildingNet.com - The home building net!

Chinese Drywall Complaint Center has been increasing its programs to educate home and property owners in the area.

The Center expressed that homeowners should not trust home builders when they are told that no Chinese drywall was or would be employed in building their homes. It is important to take precautionary measures in making sure that no toxic chemical would be used in building their houses. Also, do not accept statements from builders saying that there is nothing that can be done about it or that they can re-drywall your house instead.

Home builders in FL account for more drywall in any other state in the country. This is alarming for all the residents, so it is important that every one cooperates in the move against Chinese drywall and its use in home building. Problems have started to manifest when air conditioning units and their drywalls that were installed in 2004 started to fail. A normal drywall would last for ten years. According to the Center, there is no way that the home builders did not have any idea about the flaws of imported drywalls.

Of course, the main reason why a lot of home builders use this kind of drywall is because it is cheap. However, it poses a greater risk and has now become a threat to the reputation of home building companies. The great thing about this is that the Center accepts complaints from homeowners who have already confirmed that their house has Chinese drywall.

Those who are suspecting can also ask for further information, so that they can verify their situation.

Obviously, there is a lack of attention to this problem. It seems that only the Center is taking action on it. However, it is important to know that this is no simple matter. There are a lot of issues that would need to be addressed along with the problem of Chinese drywall. Home builders in FL should pay attention to the call of residents and of the Center as soon as they can.

Home Builders in FL Alarmed by Toxic Drywall is a post from: HomeBuildingNet.com - The home building net!

The first house was constructed under the supervision of Styczynski Walker and Associates. The construction of the house was based on standards set by the National Association of Home Builders. However, this is not the only standard that which houses are judged in terms of being green and eco-friendly.

The second green house that was recently constructed in Elmhurst is set to be placed in the market on May. Its construction is being built under the standards established by the US Green Building Council’s Leadership in Energy and Environmental Design, also known as LEED. Linda Marick of the Lindam Properties Group is supervising the construction of the house.

The LEED standard employs a registration method that certifies if a product or a technique used in a certain project meets environment-friendly requirements. A project can meet one among four levels of certification that ranges from LEED-certified to a level called LEED Platinum.

Much like the first home, the Marick house has a lot of unique environment-friendly features. For example, it was built to be able to maximize natural light sources to decrease the need to use lighting fixtures. Even the ground level of the house has a huge light well that has standard windows and decking that can accommodate a large container garden. As a result, the house looks like above-grade spaces, but decreases the need to heat or cool the room.

The 3000 square foot house also includes water-conserving kind of plumbing and a water heater that is tankless. It uses Energy Star roofing that has reflective tiles which drives heat away from the house. Its construction also employs extensive insulation based on Energy Star standards.

The interior of the house also has environment-friendly features, such as salvaged hardwood flooring. The fireplace at the lower level also has a hearth. Its construction was made through bricks from Myrtle Street when the road was changed to asphalt.

According to Stukel, these two houses represent the start of a new trend in new house construction in Elmhurst. Stukel specializes in environment-friendly and energy-efficient houses. The economic crisis in which we are in now are causing consumers to look for new construction methods that save energy.

Green Trends in New House Construction is a post from: HomeBuildingNet.com - The home building net!

Aside from the state credit, another tax credit, specifically a home-purchase tax credit, is on its way through the house construction industry. According to Terry Kent of Crestwood Communities, house construction has now tripled in more than half of the communities where their properties are located. The Glendora-based form has experienced growth since February, with four homes being sold. This is a big jump from then, with only one or two homes being sold. Because of this, Crestwood now has around 25 building permits to start new home construction in different communities. According to Kent, this tax credit is expected to be gone around May, after all of it has already been used up.

This happened because of the action taken by the California Building Industry Association. This is California’s largest association of home builders. Through its persistence, the tax credits were approved and are now being used to boost the house construction industry. According to Tim Coyle, the association’s senior vice president, the tax credit fund worth $100 million might need to be expanded soon, so that the momentum would not be lost. However, getting the approval of lawmakers might be difficult.

California governor Arnold Schwarzenegger, along with six republicans and other democratic lawmakers, agreed on a proposed budget for the state. However, there are risks and threats that this might not get approved. It might not be able to pass voter approval this coming May, giving the legislature more pressure to be able to come up with a solution to fix California’s deficit worth $42 billion.

According to Coyle, this is needed to fund more new home construction projects. He added that some home builder projects across California had experienced an 80-percent increase at model homes from February to March. Furthermore, sales of new houses are continuously increasing. This is a very good time for the house construction industry.

Tax Credits Boost House Construction is a post from: HomeBuildingNet.com - The home building net!

The tax credit gives March 1, 2009 to March 1, 2010 homebuyers a $10,000 off their taxes.

Just last week, the “Governator” signed a state budget that will eradicate a $40 billion deficit. But everything is still very unclear. No one has clarified whether the home buyer or the home builder will request for the tax break. No one is really sure what kind of documentation is necessary. House builders are not even sure on what stage of the sales process a March 1 beginning applies to.

Even with all these uncertainty, home builders just can not hide their exhilaration. The California version of the tax break not only approves first time buyers but also move-up buyers. Plus there was no income limit set. This means that even extravagant houses would sell and experience the $3,333 tax off for each of the first three years after purchase.

After the worst construction year for more than 20 years and great downsizings, project shut downs and bankruptcy applications, the tax credit hopefully stimulates new sales.

The state Franchise Tax Board has the obligation to set the implementing rules of the new tax credit program. They are still waiting for the bill language before thy can do their part for the taxpayers. Then they can clarify whether it applies to sales contracts signed after March 1 or to escrows that close after March 1.

The big deal of whether this project applies on March 1 sales contracts or closed escrows made home builders bustling to their lawyers for interpretation and in-house counsels researching.

The tax credit project was just approved last week and therefore very new. Home builders are just too excited with the hope of doing more home building projects thanks to the credit break. Everyone would just have to wait for the Franchise Tax Board to receive proper instructions before they can do more advertising of the tax credit for homebuyers’ interests.

House Builders are for the New California Tax Credit is a post from: HomeBuildingNet.com - The home building net!

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 company has no other choice but to go into hibernation until the market recovers.

According to McCormick, lenders refused to grant the company a loan extension which would allow them to continue building. This caused 30 homes to foreclose, ten of which are upgraded models.

McCormick says that Astoria Homes had no way to secure financing since many banks refused to grant them loans, while some banks have been seized by the Federal Deposit Insurance Corporation. The company has experienced a huge decrease in sales – from 627 in 2006, going down to 320 in 2007, and even further down to 192 in 2008. This means an average of less than 10 houses per month. McCormick says Astoria is not bankrupt however, and still plans to continue house construction in five neighborhoods in Las Vegas.

There have been signs of a worsening situation as builders in Las Vegas struggled against sliding prices due to Las Vegas foreclosures. Last December, 65 percent of existing homes that were sold were bank-owned. This pushed median price to $157, 250. In comparison , the median price for new homes was $240,880 in the same month. However, home builders say that it was already impossible to further lower down price due to land costs. Some companies in Nevada have also shut down because of rising Nevada foreclosures.

According to analyst Dennis Smith, also the president of Home Builders Research, builders have not shut down to keep people employed, but now there is no other choice since there has been a lack of profit. Many more private home builders are expected to follow suit since they have less capital than large public builders.

Home Builders Also Losing Homes to Foreclosure is a post from: HomeBuildingNet.com - The home building net!