by Bill Ness on October 13, 2008
The Las Vegas Review-Journal recently reported that declining home prices have some investors looking for bargains. As prices have dropped 25 percent in the last year and foreclosed properties have flooded the market, a growing, new breed of investors are hitting the streets trying to snatch up deals. Many of these new waves of investors are people from other countries looking to take advantage of the weak dollar. The mentality among these investors seems to be that there is a growing sense of urgency to buy while prices are low.
by Bill Ness on October 1, 2008
Trilogy by Shea Homes ranks highest in customer satisfaction among the largest active adult community home builders for a second consecutive year, according to the J.D. Power and Associates’ 2008 New-Home Builder Customer Satisfaction Study released last week.
by Bill Ness on June 19, 2008
Friday June 20th through Sunday June 22nd, Del Webb communities across the country are hosting a “Summer Savings Days” sale. Promotions vary by community and by state. Overall, savings appear to be very substantial. The sale is only available in new home communities and does not apply to resale homes or resale Del Webb communities. Below is a compilation of some of the deals we noticed:
Del Webb in California is offering different promotions in each community that include: no association fees for a year, 20 percent off available homes and free golf carts.
by Bill Ness on February 26, 2008
In a surprising twist to the battered stock market of 2008, an unlikely star has risen. Through the middle of February, shares of the S&P Homebuilders Sector Spider (XHB)(the fund that tracks publicly traded companies in the residential construction business), have already risen 7 percent this year. The gain comes as a surprise to many given the state of the housing industry along with the 7 percent decline in the S&P 500 this year.
by Bill Ness on February 17, 2008
In an effort to calm worried buyers and generate sales, some new home builders have resorted to offering price guarantees on homes. Many buyers are reluctant to buy a new home for fear that declining prices will leave them with a home that has decreased in price between the time they contract to have the home built and the actual closing of the property. Some builders have set up new agreements that allow buyers to purchase a home with the understanding that if prices are further reduced prior to closing, they will also receive the discount. Though the deal does not extend beyond the date of closing, it gives buyers the peace of mind that they will not have to close on a home that is worth less than when they contracted to build it.
by Bill Ness on February 13, 2008
Erickson Retirement Communities recently launched Erickson Moving and Realty Services. Erickson hopes that the addition will allow more people to move to their communities by helping them sell their current homes. “We are putting the pieces in place to help them attain the retirement lifestyle that they want without having to worry about finances and moving logistics,” said Erickson’s Senior Vice President of Sales, Tom Neubauer.
by Bill Ness on February 6, 2008
In a move that is likely to please several dozen home buyers, the South Florida bankruptcy court has ordered Levitt & Sons home builders to complete many of the homes and unfinished amenities in their Florida, Georgia and South Carolina active adult retirement communities.
Levitt & Sons filed for bankruptcy back in November after listing assets of just under $1 million and debt of over $100 million. The move left many home buyers wondering what would happen with their contracts and deposit money. Recently, Wachovia Bank authorized $10 million to the company to help complete some of the homes that were already under construction.
by Bill Ness on February 6, 2008
Last Sunday, I discussed the growing trend of developers who are building “green” communities. Specifically, more retirement community builders have jumped on the bandwagon and are promoting themselves as “green” retirement communities. I was surprised by the enthusiastic response I received from many readers who wanted to know more about green communities. Others simply wanted to know what it means to be a green community.
by Bill Ness on January 21, 2008
Could 2008 mark the year that housing incentives go away? If builders have their way, the answer would likely be “yes.”
“We are going to get away from these crazy incentives that have been flooding the marketplace,” said Jim Hughes, Executive Vice President of Wiseman-Hughes Enterprises, a builder based in Wheaton, Illinois. “We got caught up with everybody else–the free $60,000 in upgrades here, or the $70,000 off a spec home there.”
While it is no secret that builders certainly want to keep selling, they do not want to give their homes away like they did the last two years. What buyers have seen with incentives the last two years, was an anomaly that will likely not be replicated any time soon. Buyers have pointed out that since the market is not back on track, they expect to continue to see large incentives.
by Bill Ness on October 18, 2007
According to a story earlier this year in the Chicago Tribune, people ages 55 or more will account for 20 percent of this country’s new home sales. The information comes from the National Association of Home Builders (NAHB).
The article points out some other surprising facts. Most people would assume that the 55+ crowd is in a downsizing mode, but the truth of the matter is that often 55+ buyers who make the move into an age-restricted community are actually looking to buy a bigger home and better quality.
Other new home features that are important to buyers in active adult communities include:
