Imagine a brand new home…
Just think…a home that no one else has lived in… new walls, new floors, new appliances, new everything. And for many home buyers, fulfilling the dream of building a home from the ground up means; choosing the floor plan, the paint colors and finishes, and having a say in the custom details.
Carla Harden, Realtor for Century 21 M&M in Rio Vista, works with the builder at Trilogy at Rio Vista. Carla says, ” When people buy a brand new home they love getting involved in the design process; choosing upgrades, colors and finishes. Another advantage is the 10 year structure warranty.”
Jeff Titus, Realtor for Century 21 M&M, is currently selling a new home under construction on 10 acres on the outskirts of Oakdale. He agrees, “when you purchase a home under construction, you can specify many of the finishes including kitchen counters, cabinet stains, tile, appliances and paint colors. It’s a great way get what you really want in a home.”
Nationwide, housing forecasts from Fannie Mae and the Mortgage Bankers Association show the new-home market will begin a rebound that will last through 2012. The CEO of D. R. Horton Inc. nationally the second-biggest builder, Donald Tomnitz says he is “anticipating a much better spring selling season” than last year. Courtesy of Bloomberg News 2/08/2011.
Scott Abell, Realtor for Century 21 M&M is selling foreclosed homes on Dominic Street in Oakdale. He says, “The advantage of buying a new home is that you are buying a home in move-in condition and you don’t have to spend the $15K to get the home back to ‘nice’. ”
Furthermore Scott states, “As new homes sell for more money than REO’s or short sales, the higher dollar value impacts all of the homes in the surrounding neighborhoods by increasing home values.”
What do these new homes going to look like? According to the housing industry analysis of Census Bureau data, the American home is getting smaller and offering fewer luxuries—such as three car garages and fireplaces. There is a trend toward a more modern look with natural finishes, clean lines and fewer frivolous embellishments.
There is also a trend towards green construction. Toward that end, the new California CalGreen Building code that took effect January 1, 2011, mandates eco-friendly practices that were previously voluntary. These practices should result in residential construction that produces less waste and homes that more energy and water efficient.
So, if you are imagining a brand new home, now is the time to take a look. Prices are low, interest rates are low, and, in most cases you have the added advantage in choosing finish details. It is a great time to buy a new house!