28 Oct 08 New Home Sales Q4 Economic Outlook

If you're new here, you may want to subscribe to New Homes Section's Blog. Thanks for visiting!

With consumer spending steadily decreasing from mid-2007, sparked from the housing meltdown, experts have estimated that consumption will likely fall more than 4 percent annualized this quarter. To add fuel to the fire, the deteriorating credit market has negatively influenced all three major determinants of consumption.

New homes sales will likely remain suppressed well into 2009. Not good news considering the housing sector is already suffering from the rising unemployment, tightened credit conditions, declining household wealth, and in some markets, the affects of recent severe weather.

What does this mean for you?

This will directly affect your access to credit, not to mention your credit rates; and will indirectly affect both real disposable personal income and household wealth. In regards to the economy as a whole, this means that for the remainder of the year, and leading into 2009, we can anticipate diminishing consumer confidence and business confidence, which will cause further payroll cutbacks and additional suppression of real disposable personal income.

So here we are. We’ve witnessed declines in consumer spending, beginning in 2007, employment gains gradually diminish, soaring energy costs, oh… and let’s not forget the significant declines in household wealth and the continued declines in real estate values.

The experts have stated that even with the recent decline in energy prices, it’s not nearly enough to overcome our waning consumption concerns; mainly caused by the large decline in personal wealth.

There is some good news in all of this if you are a homebuyer, or at least a buyer who can meet the criteria to qualify for a loan, and that is new home costs have declined significantly. The fact is that many home builders are reducing pricing, increasing incentives, adding better upgrades, all in an attempt to attract buyers and shrink their inventories. I know what you’re thinking… and yes, there is a good chance that if you buy now your new home may decline in value while the market works its way towards recovery. But if you’re thinking long-term, the declines will be insignificant compared to your gain over the next five to six-plus years.

Tags: 2009 economic outlook, consumer confidence, home builder news, Home Builders, housing meltdown, housing sector, housing sector news, new home incentives, new home sales, real disposable personal income

27 Oct 08 LOHPF Charity Event

So, as I said on Friday I was going to the Pasta, Poker and Pets party. I remind you that it was my first event and for those of you that live in Arizona, the event was located in North Scottsdale on Union Hills Drive. I didn’t know what to expect and was a little nervous, but I had a great time.

Once we got there we signed in and were given a packet of information and two drink tickets. We sat down and talked to some people and had a small dinner at one of the 10 tables in the community center. I would say that there were about 80 people at the event; it was a pretty good turnout. After dinner, an auction was held and everyone was participating so I was happy to see that.

After the auction the games started. The goal was to have the most chips by the end of the night. If you did you would have won an entertainment system. They had several tables of mixed games which included Poker, Black Jack and my all time favorite Craps. Unfortunately, the poker table was full so I made my way over to the Craps table and rolled the dice! I didn’t win though lol, I busted out after 30 minutes.

All and all it was a very entertaining and successful night; I was excited to be a part of it. I was happy to see everyone participating. I was rushed for time and forgot my camera but some picture were taken so I will see if I can get my hands on them. Congratulations to everyone in the Lost Our Home Pet Foundation for a great event!

Tags: auction, charity, community, event, poker, table

25 Oct 08 New Home Incentives

Below is a list of new home incentives from home builders throughout the U.S. All the information was gathered from the home builder’s website, or from a third party publisher of new home information. Visit each home builder for more information about their incentives and disclaimer(s).

Ryland Homes – This weekend Ryland Homes is having a National Clearance Event! Ryland has incredible pricing on their move-in ready homes and are offering free Washer, Dryer, refrigerator and Window Covering with the purchase of any new move-in ready home! Let Ryland show you how with 5.5% 30-year fixed rate* Visit www.RylandHomes.com for more details.

Cachet Homes – Cachet Homes has a holiday sale going on right now. The finest gifts don’t always come in small packages. The Cachet Home you aspire to is now within reach. When you purchase now during our Home for the Holidays Gift Event, you’ll not only receive a breathtaking deal on an elegant new home, could also move in before Thanksgiving. If you buy now you will also receive a $25,000 Home Joy Certificate. Visit www.CachetHomes.com for more details

Touchstone Homes – Touchstone Homes is cutting prices on their new homes. You can save up to $100,000 on the purchase of a new home. Plus they will give you $5,000 off of your closing cost. For more details come visit www.TouchStoneHomes.com

Trend Homes – Trend Homes has a special going on right now with Bank Short Sale Dream Homes from $901/mo. Visit Trend Homes to find out more about Pre-Approved bank short sale homes now. These homes are priced right and ready to move into. For more details visit www.TrendHomes.com

Meridian Homes – Meridian Homes has 23 New Home Communities in Atlanta and 4 New Home Communities in Upstate South Carolina. They are running a fall special with up to 6% incentives for Move-in ready homes. For more details visit www.MeridianHomes.com

Meritage Homes – Meritage Homes is bringing back Down Payment Assistance. You need 3% for a down payment on a new home. Whether you take that money from you savings or your brother Darryl, Meritage will pay it directly back! This is a limited time offer visit www.MeritageHomes.com today!

Canterra Homes – Canterra Homes has move-in home available starting at the $145,000.* there is no need to cry it is a good thing. With 4 communities in Arizona visit www.CanterraHomes.com for more details.

Visit New Homes Section today to search home builders, new home incentives, green homes for sale, quick move-in homes and new home communities. Makes sure you come back next Saturday for an even bigger list of these incredible incentives!

Tags: Home Builders, incentives, move in ready, new home, savings