Housing prices, interest rates, financing packages… the housing market is changing all the time. The good news is that if you find a house that fits your needs, wants, and budget… you can buy it. Honest! It’s that simple. No need to be deterred by uncertainty. It might be the best time to buy in 20 years.
That’s what a study published by the National Association of Home Builders and Wells Fargo this week reports. Housing affordability is at the highest level they’ve seen over the 20 years the index has been in use. Accordingly, another study found that 9 out of 10 consumers think now is a good time to buy.
We agree! Come see us at one of our neighborhoods this weekend and see if we’ve got something for you.
What are today’s homeowners looking for in terms of home design? What sets a home apart from the rest in convenience, versatility, and livability? According to a recent survey by Better Homes & Gardens, it comes down to six top spaces:
1. Separate laundry room.
2. More storage and built-ins.
3. Home office.
4. Outdoor grilling/living area.
5. Second bedroom with a private bath.
6. Everyday eating space close to the kitchen.
A lot of those features sounded really familiar to us, so we thought it would be fun to compare that list against one of our models. Here’s how our St. Olaf model performs:
Always reassuring to see that what we’ve learned about how people live in their homes jives with what others are seeing, but what do you think? Are there spaces or features that aren’t on that list that you think should be?
There was an interesting article in the Pioneer Press today about the homebuilding market in Woodbury, a topic of some interest to us and many of our customers. The gist of it is that the market has made reaching a critical mass of new home-owners in a development absolutely crucial to that community’s success. Amen to that! We are grateful that we have that critical mass in our two Woodbury communities, Waterstone and High Point at Dancing Waters.
If you’re interested in knowing more about how the home building industry, and specifically how many homes are built by small, local companies versus larger, national builders, this article from NAHB is an interesting read. A lot of the homes in this country are still built by small, independent contractors.
The ring of the doorbell is at its most welcome during the holidays. With each loved one who visits, the house grows warmer, the candles burn brighter, the laughter carries further. This is the gift of the bell, and it lasts all winter long.
We are grateful to the over 55 families that gave Pratt Homes the opportunity to build or remodel their homes in 2010.
May the spirit of the season warm your home.
Happy Holidays from Pratt Homes!
Our model homes will be closed today on account of the blizzard. We hope that you and yours are safe, warm, and taken care of!
A bit of good news from the National Association of Home Builders:
The Pending Home Sales Index (PHSI) by the National Association of Realtors® (NAR) indicated that contracts signed on existing homes gained 4.3% in August, following a 4.5% rise in July. This signals that the payback period associated with the expiration of the home buyer tax credit is now behind us.
The upturn in the PHSI was consistent across all regions except the Northeast, with solid growth in the South (6.7%) and West (6.4%) and a modest gain in the Midwest (2.1%). The Northeast declined 2.9%.
The PHSI is based on contracts signed, while existing home sales are based on closings. The NAR advises that existing home sales typically lag the PHSI by one to two months.
This article in the NY Times from earlier this month offers a nice, balanced case for why home ownership still makes sense in today’s market. Here’s my favorite quote:
“For some people, [the American Dream] means having a solid and fairly safe long-term investment that is coupled with the satisfaction of owning the house they live in. That dream is still alive.”
We are participating in the Parade of Homes! Our models at Fable Hill and Creek Side Villas in Hugo, and High Point Villas at Dancing Waters and Waterstone Townhomes in Woodbury, are ready for you. Drop by noon-6 pm, Thursday-Sunday, Sept. 11 – Oct. 3!
Visit www.paradeofhomes.org to learn more.
There are many reasons to make the move!
Here is one of the top 3: Consolidate your home-life to a single level. Enjoy the convenience of having your master suite, kitchen, laundry and entertainment all on one floor — just a few steps away!
Is it time for you to start thinking of a groundbreaking of your own? Call Mark Wreisner today at 612-889-9258 or email him to learn how we can help you move into the home of your dreams.
It’s a big decision, but you are not alone! Help is on the way! We can help you with all aspects of the home-buying process, from selling your current home to helping you move into your new one! Contact us today to learn how we can help you.
