New Home Friday 11-17-2018

by Builder Trade In Program Nov, 17

Welcome to your Weekend!

by Builder Trade In Program Nov, 14

Phoenix Pizza Festival

Top pizza makers will come together for a beautiful day out in the November sunshine at Margaret T. Hance Park for the annual Phoenix Pizza Festival! There will be live music, lots of local businesses to meet, and an interactive kid's craft zone.

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Are Homeowners Renovating to Sell or to Stay?

by Builder Trade In Program Nov, 13

Over the past few years, two trends have emerged in the housing market:

  1. Home renovations have shot up
  2. Inventory of homes available for sale on the market has dropped

A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.

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Here’s How the Labor Shortage Is Impacting Housing, by the Numbers

by Builder Trade In Program Nov, 12

NAHB Economist Robert Dietz breaks down the ways the lack of skilled construction labor is affecting the housing market.

 

Among the benefits of firming economic growth—GDP increased at a 4.2% annualized rate in the second quarter of 2018, the fastest pace since 2014—is ongoing job creation and low unemployment. At 3.7%, the current unemployment rate risks being too low. Right now there are more open, unfilled jobs in the economy than there are unemployed persons to fill them.

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6 Tips When Buying a Newly Constructed Home

by Builder Trade In Program Nov, 06

The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place.

To ensure a hassle-free process, here are 5 tips to keep in mind if you are considering new construction:

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Home price gains fall below 6% for the first time in a year: August S&P Case-Shiller index

by Builder Trade In Program Nov, 05

Mortgage interest rates didn't begin their recent surge until the start of September, but home prices were already feeling pressure, as fewer people could afford what was for sale.

Nationally, prices rose 5.8 percent in August compared with August 2017, according to the S&P CoreLogic Case-Shiller home prices index. That is less than the 6 percent annual gain in July.

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New Home Friday 11-02-2018

by Builder Trade In Program Nov, 02

The True Cost of NOT Owning Your Home

by Builder Trade In Program Oct, 30

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence.

 

Realtor.com reported that:

 

“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

  1. In a previous blog, we highlighted the top 5 financial benefits of homeownership:
  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.
  1. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.
  2. Less than a month ago, we explained that a family that purchased an average-priced home at the beginning of 2018 could build more than $49,000 in family wealth over the next five years.
  3. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment – along with a profit margin!

Bottom Line

Owning your home has many social and financial benefits that cannot be achieved by renting.