Is it the time to buy?

When reading the newspaper, it is hard to decipher the answer amongst so many articles and opinions.

As a home builder, in South Florida for over 20 years, I truly believe this is the right time to make a home purchase. There are several reasons I believe that we are at a pivotal point in the housing market:

Hundreds of new homes are planned in South Florida as builder confidence increases

• The high-end residential sector has shown a tremendous improvement thus far in 2011
• International investors are acting fast to take advantage of the current housing market
• Inventory of quality homes is decreasing
• Builders of new homes are excitedly reporting greater sales of their new homes than they expected

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Hundreds of new homes planned for South Florida

Builders are planning the construction of hundreds of new homes in Broward, and Palm-Beach. The reason behind it is the confidence that has come from recent homes sales and activity in the housing market.

Many home builders have decided that this is a prime time to get back into building new homes. Some home builders have even reported an increase of up to 14% in homes sales as compared to the previous year.

While new home starts are not comparable to those in 2005, signs of growth are present. Nationally there are 183,000 new homes for sale, a record low.

Builders have started making products for buyers who don’t want to bother with short sales and foreclosures. A lot of the resale homes are often in poor condition and what’s more the sales can take months to complete.

As people turn away from resale homes more new homes must be built to accomodate buyers.

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Buying a new home? Consider this.

Buying a home is a big decision and one that requires patience, and some pre-planning. When buying a new home or deciding to build a custom home it is very important to consider location, the community, and features/needs.

Below are important questions to consider.

1. Location
    a. Do you want to live in an established neighborhood?
    b. Do you want to live in a new neighborhood?
    c. What do you want to be close to?
        i. A good school
        ii. Hospital
        iii. Shopping center
        iv. Work
        v. Highways

 2. Community
    a. Do you want to live in an upscale gated community?
    b. An upscale country club with lots of amenities?
    c. A recluse area?
    d. A waterfront area?
    e. What do you want your view to be of a golf course, water, etc?

3. Features/Needs
   a. What do you like about your current home?
   b. What do you dislike about your current home?
   c. What do you want the size of your new home to be?
   d. Do you want a front yard? Backyard?
   e. How many bedrooms or bathrooms do you need?
   f. Do you entertain frequently? Do you need a formal living room?
   g. What kind of kitchen do you want?
       Wide open space or hidden out of view?
       Do you need a breakfast area? A formal dining room?
   h. Do you need a garage? Carport? Porte cochere?
   i. Consider the following features:
        i. Fireplace?
        ii. Media room?
        iii. Pool?
        iv. Spa?
        v. Cabana?
        vi. Outdoor kitchen?
        vii. Den?
        viii. Study?
        ix. Crown molding?
        x. Flooring: tile, marble, wood?
        xi. Type of appliances?

There is a lot to consider when choosing the perfect home to build or buy. As luxury home builders, our job is to work with homeowners to build the perfect home. Our role as experts is to help guide home owners through the construction process so that nothing is left unturned. We guide clients from the very first decision regarding their new custom home to the very last.

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Revival of Parkland, FL

The City of Parkland has had an upsurge in activity, with Toll Brothers breathing life back into the Parkland Country Club and WCI’s proposed development of over 200 new homes.

While not everyone is happy about WCI building homes in Parkland, it is a sign of a vibrant comeback for Parkland and Heron Bay.

When WCI filed for bankruptcy many were concerned with the fate of Parkland Golf, however, since the purchase by Toll Brothers the community is again positioned as one of the finest country clubs in South Florida.

We are truly excited for the future of both, Parkland and Heron Bay, and look forward to contributing to the beautification of both of these communities. We currently still have lots available at both Heron Bay Country Club and Parkland Golf and Country Club.

Those interested in building a new custom home in either community should contact Rick Bell. Only a limited amount of lots remain in both communities, don’t hesitate.

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Broward’s falling inventory of home increases home prices

According to reports from Florida Realtors, the supply of homes in Broward is smaller than all other counties including Palm Beach. As the inventory levels falls, buyers need to become more competitive to secure one of the fewer properties. The result of increased demand and less supply is higher prices, simple economics.

In February, the median price of homes in Broward rose by 22% to prices that had not been seen since December of 2005. For Broward real estate agents this is very encouraging news of what the future will bring.

The home inventory drop for Broward County was 12.45% from January to February according to statistics by Move.com. With a 12.45% drop in inventory homes, Broward leads the nation in most rapidly decreasing home inventory.

Currently, Broward’s supply of single-family homes stands at approximately 6.7 months, if no more homes came into the market, there would be no homes for sale in Broward in about another 6 to 7 months.

Furthermore, the numbers of new homes available for immediate move-in are even smaller and continue to decrease. At the present time, there is only one new custom estate home for sale in Parkland Golf in Broward County.

It is becoming increasingly difficult for buyers to enjoy a new home without the wait. If you are looking for new estate homes and can’t find the right home, build a custom home.

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Wealthy Buyers Making Waves

All though there is a real estate slump in what appears to be all over, there is a sector that is doing rather well, the very very top end of the market. More developers are now preparing to build multi-million dollar spec homes.

The potential buyers of these homes are not as affected by the economy and the down turn so they are still capable of spending large amounts on the construction of new homes.

While it is a very small percentage of the market it is noteworthy that there is movement. These wealthy buyers are making waves across the nation

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Reasons to Buy a New Home

There are many reasons to buy a new home versus a resale home; newly built properties can offer fewer hassles, greater efficiency and more customization. Despite some of the deals on previously owned homes, customers should look into the benefits a new home can offer.

It is no secret that new homes sell for a higher per square foot than resale homes, but there is good reason for it. One such reason is the ability of buyers to customize their property. Even when the house is already built we allow buyers to decide on flooring, paint, and add any addition they see fit prior to move in. The ability to tailor a living space is a great benefit.

Another good reason for buying a new home is the new building codes which mandate high energy-efficiency standards. The latest, International Energy Conservation Code in 2009 required approximately 17% more energy efficiency than in previous years.

The third reason to move into a new home versus a resale home is the use of greener appliances. New homes often include green systems and appliances that help homeowners be more energy efficient.

One of the top reasons to buy a new home is the tranquility that comes with a warranty. In addition, to the warranty a new home doesn’t require repairs because everything is NEW. There is also much less maintenance required. When you buy a used house you don’t exactly know what you are getting.

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