07 Nov 08 
Floor-Plan Friday
If you're new here, you may want to subscribe to New Homes Section's Blog. Thanks for visiting!
In effort to aid homebuyers when searching for new homes, we’ve decided to create a post dedicated to floor-plans that home builders are currently providing. General information about the builder and floor-plan is listed below. To view and learn more about each available plan, click the ‘View Floor-plan’ link. For additional information about each builder, click on the ‘Builder’s Website’ link.
Jacksonville, FL
Sadie Cay is a four-bedroom, three-bath, single-story home provided by Mercedes Homes at Blue Lake Estates, in Jacksonville, Florida. This plan is well designed and with 2,609 square-feet, it is ideal for a mid-to-large size family. There is currently one Sadie Cay floor-plan that is completed and move-in ready, and has recently been discounted $29,000 to $234,990. If you are considering buying in the Jacksonville area, don’t miss out on this incredible offer, call (877) 252-8501 to schedule an appointment. <View Floor-plan> | <Builder’s Website>
Charlotte, SC
Raphael is another floor-plan offered by Mercedes Homes, located in their Charlotte, South Carolina community - Mill Creek Falls. Raphael is a two-story home-plan with 3,861 square-feet of livable space, four bedrooms, and three-and-a-half baths. This plan is perfect for larger families and there is currently one White Hall home fully completed, which is now available for only $419,990 - a savings of $95,000. Don’t buy in Charlotte until you’ve had a chance to view this house, call (803) 831-5808 to speak with a Mercedes Homes’ specialist. <View Floor-plan> | <Builder’s Website>
Duncan, SC
Wilmington is a five-bedroom, three-bath, two-story plan from Meridian Homes at Carlton Creek in Duncan, South Carolina. This single-family detached home provides 3,399 square-feet of livable space and there is currently one completely finished Wilmington available for only $240,462. This plan offers spacious living for minimum cost, and is a great home for a young and growing family. If looking to purchase a home in the Greenville area, be sure to visit this community and the incentives that Meridian is currently offering. Speak with a sales consultant today at (864) 468-0540, to make an appointment. <View Floor-plan> | <Builder’s Website>
Burleson, TX
McGregor is a 2,491 square-foot plan provided by Cheldan Homes in Burleson, Texas. This three-bedroom, two-and-a-half bath, single-story home-plan is available at Cheldan’s new home community - Mistletoe Hill. The design professionals will help you in customizing this home with specific options, finishes, and upgraded features. One fully finished McGregor is available for only $178,916, and at such a low price, young couples and first-time home buyers will want to consider this home first when moving to, or within, the Fort Worth area. To learn more about this home, contact a Cheldan Homes’ sales representative at (817) 447-1073. <View Floor-plan> | <Builder’s Website>
Houston, TX
Chevy Chase is an upscale luxury home-plan, provided by On Point Custom Homes, in the Briargrove community of Houston, Texas. At a price of $1,450,000, this single-family home is ideal for a large, well-off family or older couple nearing retirement. The plan provides 5,025 square-feet livable space, five bedrooms, four full baths and one half-bath, on an 8,673 square-foot home-site. There is one completed Chevy Chase home available for immediate move-in and can be viewed upon appointment by contacting the friendly and knowledgable staff at (713) 600-2422. <View Floor-plan> | <Builder’s Website>
Tags: burleson, charlotte, cheldan homes, duncan, floor-plans, florida, fort worth, Home Builders, houston, jacksonville, mercedes homes, meridian homes, on point custom homes, south carolina, Texas
06 Nov 08 Government is Going to Bailout Homeowners
I read Jay Thompson’s blog at least once a day. Jay is an amazing blogger, an educator, an Arizona real estate broker and the owner of one of Arizona’s best brokerages, Thompson’s Realty - okay, enough about Jay.
Yesterday, Jay posted a very informative post-titled “Obama on Housing“; as the title suggests, the post talks about what Obama has mentioned, or plans to do to fix/repair/jump-start the troubled residential real estate market. A comment by a blogger on the post got me thinking about a current government proposal - Reset mortgage loans so that the principal on the loan matches the home’s current market value -. I know what you’re thinking: “Is this going to be done monthly as home prices decrease?” and “Who decides what the current market value of the home is?”… sorry, I don’t know.
Image Credit: www.blog.puppetgov.com
In the comment, the blogger mentioned that he was “dead set” against the government resetting loan values to match the current market value of the home. There are many reasons why the government shouldn’t reset these mortgages… it’s not their responsibility, not something all taxpayers should pay for, not fair for those homeowners that are not under on their home…the list goes on and on and on. I can see why the blogger, and others, would be against this move by the government. I’m still not sure I’m for resetting mortgage principals and getting rid of negative equity, but I can’t help thinking of what could happen if the government decides against resetting mortgages.
In an earlier post, I mentioned that real estate has traditionally created wealth for Americans and that many Americans depend on this wealth as part of their retirement. As of right now, for millions of homeowners, that future potential wealth is off the table. For many homeowners, it’s going to take close to a decade, if not longer, for their home to appreciate back to what they paid for the home. I probably don’t have to tell you that 10 years of equity typically does a lot for a family besides retirement…new appliances, consolidating debt, school tuition etc… In addition to the overall economic effect of millions (approximately 7.5 million) retiring with less, moving less and buying less of everything, nearly 60% of the mortgages that exceed a home’s value are in Nevada, Arizona, Florida, California, Michigan and Georgia. Negative equity shared by many homeowners in these states could destroy these economies for years and inhibit growth throughout the rest of the nation. If the reset is not done, millions of homeowners may choose to foreclose on their home, which would only keep home prices declining and may end up costing everyone much more. It seems like a lose-lose situation regardless of how you look at it.
What do you think? Should the government reset negative equity home loans, and if so, would you think that; if you didn’t have negative equity in your home?
Tags: arizona, California, florida, foreclosures, georgia, hope for homeowners act, house values, jay thompson, michigan, nevada, obama on housing, phoenix real estate guy
04 Jul 08 More Good News for Dallas-Fort Worth Home Owners
According to a recent report by PMI Group, detailed by Steve Brown of the Dallas Morning News, home prices are unlikely to see a decrease in value over the next two years. PMI – a mortgage insurance company – ranked Dallas-Fort Worth as the lowest risk for declining home prices, out of all fifty states.
PMI’s risk factor report shows a close correlation between the markets that have seen the highest increase in home prices in recent years with the highest level of probability that the same markets will see the greatest decrease in home prices in the following years.
“Given the magnitude of the inventory overhang, we expect national home price declines to continue into at least 2009,” said PMI chief economist David Berson.
Berson also suggested that although Dallas-Fort Worth home prices should be encouraging, it doesn’t mean the area won’t experience short-term declines in value.
Four out of five cities that ranked on PMI’s report as having the lowest levels of risk, associated with home price declines, are located in Texas. The five worst cities include Riverside, California; Fort Lauderdale, Florida; West Palm Beach, Florida; Orlando, Florida; and Las Vegas, Nevada.
Click on the link to read the PMI US Market Risk Index.
Tags: California, dallas fort worth real estate, dallas morning news, dallas-fort worth, david berson, dfw, dfw home prices, florida, fort lauderdale, las vegas, orlando, pmi group, pmi us market risk index, riverside, steve brown, west palm beach
