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Archive for November, 2010
Happy Thanksgiving!
Wednesday, November 24th, 2010Deficit of new single-family homes must be addressed as economy improves
Monday, November 22nd, 2010As we shared in our Newsfeed post on November 16, a deficit in single-family homes is on the horizon. A shortage of homes means more demand than supply, which will raise prices. Take advantage of the lower construction costs and interest rates available today by building your dream home now. Dreambuilder Custom Homes is ready to help!
WASHINGTON – Nov. 18, 2010 – Annual single-family housing production in 2008 and 2009 fell about one million units short of the housing that would be needed in a normally functioning economy, suggesting that builders will have a lot of catching up to do as the economy improves and household formations return to trend levels, according to a special study by economists at the National Association of Home Builders (NAHB).
The report, “Extent of Underbuilding in the Single-Family Housing Market,” found an excessive amount of single-family building from 2003 through 2005. But overbuilding largely ended by 2006, and the subsequent downturn was severe enough to more than offset the annual surpluses. This year is likely to add to the growing deficit of single-family homes by another one million units, according to the report.
Internet Plan of the Week: the Lynbrook
Friday, November 19th, 2010
This storybook French Country-styled home from Living Concepts looks even better from the rear than from the front! Stone and rough-hewn timbers create a strong, rustic feel, and fanciful towers add magic and grandeur to the plan. As a design/build custom home builder, Dreambuilder can customize this 4000 SF plan for you, or create one from scratch with simliar look and feel. View the plan and pictures here and then contact us to get started!
95% of borrowers go for fixed rates
Wednesday, November 17th, 2010Certainly this is no surprise — given how low rates are, locking in at a fixed rate is the best move. Terms are even more favorable for 15 or 20 year terms. Dreambuilder can help you get started today!
WASHINGTON – Nov. 16, 2010 – Ninety-five percent of U.S. borrowers in the third quarter chose fixed-rate contracts when refinancing, the U.S. Federal Loan Mortgage Corp. said Monday.
Consumers who previously had 30-year loans or adjustable-rate loans most often chose 30-year, fixed-rate loans when refinancing, while those with 15-year or 20-year loans previously stuck with shorter terms, Freddie Mac said.
“We ended the second quarter excited that borrowers could lock in a rate of 4.75 percent for 30 years, and we ended the third quarter with rates at just a touch over 4.25 percent. It’s no wonder borrowers are attracted to fixed-rate loans,” said Frank Nothaft, Freddie Mac vice president and chief economist.
Copyright United Press International 2010
Big Deficit of New Single-Family Homes Will Need to Be Addressed as Economy Improves
Tuesday, November 16th, 2010You may be surprised to hear it, but there will actually be a shortage of single family homes in coming years as the economy improves. Though there was a huge surplus as a result of the housing bubble, builders have pulled back on construction and that surplus has been eliminated. Less inventory in the future means rising prices…meaning now is the time to build your dream home. Dreambuilder Custom Homes is ready to help you!
Annual single-family housing production in 2008 and 2009 fell about one million units short of the housing that would be needed in a normally functioning economy, suggesting that builders will have a lot of catching up to do as the economy improves and household formations return to trend levels, according to a special study by NAHB’s Housing Economics.