Home Improvement: Now or Later?

January 9th, 2009

Improving your home now means getting yourself a more comfortable home while increasing its resale value. Well, it is better than considering selling your home and moving to a new one because home sales now are slower; there is no assurance that your home will be bought at the time you want it to be sold.

Home remodeling is a great investment. It would be a smart move to do it now because it is still the same thing you will have to do when you will be selling your home later. At least now, you could enjoy the benefits of a perfectly designed home.

A lot of home innovations are out in the market now and you can get them in affordable prices now since home builders set lower prices to compete in the market. Why not consider changing your windows, converting your attic into another bedroom, or upgrading your kitchen and bathroom? These upgrades could return you up to 87 percent of your renovation costs.

Stop thinking about the timing, just keep in mind that investing in your property pays off as always, and maintaining it is the key.

To successfully achieve your home upgrade, better be careful in choosing the right contractors. Do not be in a hurry. Take your time in finding the professionals who best fit the job. Wisely prepare your budget and monitor the project so it remains up to the schedule and affordable. Some agencies offer consultation services to help you come up with the kind of home improvement that suits you and to help you find the appropriate professionals to do the project.

Do not hesitate anymore. Now is the best time to make that smart move to make that home improvement. Turn your existing home into a home of your dreams and forget the costs for it will all pay off later.

December’s Record Shows Low Homebuilders’ Confidence

January 7th, 2009

After several months of low record in homebuilders’ confidence, this month is no different. Things get worse and this threatens the housing market for this is a sign that housing recession will continue into a fourth year.

According to the National Association of Homebuilders/Well Fargo, builder confidence index is at 9 this month. Since this reading is below 50, it means respondents see the current condition as poor.

Why? This is because of the continuous flooding of foreclosures in the market, bringing down home prices, resulting to shrinking builders’ profits. Prospective home buyers are denied by lenders who resist government efforts to release credit.

It has been forecasted that builder confidence is to rise at 10 this month, while usual projections ranged from 7 to 13. This confidence survey gets builders’ on current sales (good, fair, or poor), and lets them gauge the prospective buyers’ traffic, as well as their outlook for the next six months.

Speaking of low builder confidence, here are the details:

  • single-family home sales – dropped to 8 from 9 last month
  • buyer traffic – still the same at 7
  • sales expectations – dropped to 16 from 18 last month

Area-wise, confidence has dropped the greatest in the South, from 12 to 10, while next is in the Midwest, which has dropped one notch to 6. Northeast has remained at 11, while West’s has risen to 7 from 6.

Borrowing costs drops as Federal Reserve has promised to buy the debts to Fannie Mae and Freddie Mac. In fact, Mortgage Bank Association has reported that the average rate on a 30-year fixed-rate loan has dropped to lowest.
Home building permits also fall. According to the Commerce Department, homebuilders have started work on homes in November at a low annual rate of 736,000. With all of these, housing is expected to keep falling in 2009.

To save the housing economy, foreclosures has to be stopped to bring back competitive home prices as well as prospective buyers, bringing to life homebuilders’ confidence.

Home Building Leaves a Family Problematic

January 6th, 2009

Building a new home has been stressful for Don Armitage’s Family as they encounter problems with their land title and the contractor they hired. It has been three years already and they still cannot move into their new home, even this Christmas, for their issues might remain unresolved.

The building permits that Don Armitage has pulled have included accommodations for his wheelchair-bound son with muscular dystrophy, Gregory. But since they cannot move in to the new home now, Gregory temporarily lives with her mother and goes to his 24-foot trailer at the back of his father’s home during weekends. It has been really hard for the case of Gregory.

Home building has never been easy than what the Armitage family have thought. Yes, they owned the property for it has been with their family for more than 50 years. They pay taxes but the title is still under the previous owner’s name. The merger Don has applied for cannot be approved until the title is cleared so he has to work with a title company and hire an attorney.

Another problem is the contractor. The contract of the Armitages has no Disability Act accommodations. Also, they have suspected the contractor of overcharging since he does not issue receipts or detailed costs. Because of this, the Armitages hired an attorney, but the contractor stopped construction and quit. After a few weeks, the contractor demanded for the final payment saying that his job was completed.

The Contractors State License Board recognizes that problems between clients and contractors root from a contract. That is why it is important to put every deal into writing, a contract. This will state the detailed description of work and all the costs, signed by both parties.

In home building, consumers must find a reputable contractor by consulting the local building department, fraud investigation unit, trade association, office of the district attorney, and the Better Business Bureau.

Home Builders Show Efforts for Reinvention

December 15th, 2008

The need for reinvention in the home building industry arises as home builders try to cope up with the challenging economy. Builders continue to diversify by tapping their other skills or reinvention their roles in the industry. One interesting case is that of Curtis Perlman of Empeco Custom Builders, who has gained knowledge about property [...]

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Time for Some Home Remodeling

December 12th, 2008

The boom in home renovations drives current innovations on home products and services. Home owners change the look of their homes after seeing damages or after realizing the need for more space. But whatever their reasons for renovations are, finding the perfect finance method, product and service, and contractors should be of greatest consideration. Economists [...]

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High-Tech Home Building for the Elderly

December 10th, 2008

The Eskaton Senior Residences and Services, an assisted living facility based in Carmichael, California, opened a single-story, two-bath and two-bedroom model home for the elderly on October 23, 2008. It is a house construction project that provides a glimpse of the role of technology on home building for older people. The in-home technology featured in [...]

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Learn About Home Building Additions and Home Remodeling

December 8th, 2008

Planning or embarking on a remodeling construction can be both exciting and daunting that sometimes you do not know where or when to start. Why do you want to remodel? Is it because you want to improve your home, beautify it, make it comfortable to live in, improve energy-efficiency, increase its market value or enhance [...]

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How-To: Home Building Additions and Home Remodeling

December 8th, 2008

Making home building additions or changes can be a good investment. However, before you take any steps towards fulfilling your home remodeling plans, there are some important items that you should consider first: Financing Home market values in the area Home renovation costs Architectural plans and design Timetable for completion Commitment to the project If [...]

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Home Building Permits Down in Several Areas in Arizona and California

December 4th, 2008

The number of permits issued for home construction in some areas in Arizona and California has declined significantly for three consecutive quarters of this year. From January to September this year, the city of Tucson in Arizona reported a 39 percent decline in home building permits, compared with figures for the same period the previous [...]

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The When and How To of Home Remodeling

December 2nd, 2008

There are several reasons why a homeowner decides to embark on a house building and home remodeling project. They want to add more space, upgrade appliances, cabinets, counters and fixtures, improve energy efficiency by installing new climate control systems, doors, insulation and windows, create a floor plan that is customized for their lifestyle and increase [...]

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