By Sandra Meineke
Builder confidence in the market for newly built, single-family homes edged
higher for a third consecutive month in September, according to the latest
National Association of Home Builders/Wells Fargo Housing Market Index.
“Builders are seeing some improvement in buyer demand as a result of the
first-time home buyer tax credit, and low mortgage rates and strong housing
affordability have also helped to revive some optimism,
” said Joe Robson, NAHB chairman. “However the window is now closed … for buyers to take advantage of the tax credit, and builders are concerned
about what will keep the market moving once the credit is gone.
”
“The report indicates that builders are starting to see some glimmers of light at
the end of the tunnel in terms of improving sales activity,
” said NAHB Chief Economist David Crowe. “This is a very fragile recovery period, and several major hurdles remain that
could stifle the positive momentum. Those hurdles include the impending
expiration of the $8,000 tax credit as well as the critical lack of credit for
housing production loans and continuing problems with low appraisals.
”
Remodeling as an Option
For those who are not in a position to buy a new home or just want to stay where
they are, this might be the time to think about remodeling the current
homestead while interest rates are still low.
The reasons for remodeling are as varied as the projects themselves. Some of
these include: adding more space; upgrading cabinets, counters, appliances and
fixtures; creating a floor plan or better use of current floor space; improving
energy efficiency and increasing the resale value of the home. Before deciding
on a remodeling project or a new home purchase consider the following tips from
NAHB.
Where to Begin
Write a prioritized list of your needs and wants. Consult magazines and Web
sites and collect photos of projects or homes you like. The more clearly you
can envision and describe your
design the better prepared you will be when decision time comes.
Think about traffic patterns, furniture size and placement, colors, lighting and
how you expect to use the new space. To create a space for someone with limited
mobility consider contacting a Certified Aging-in-Place Specialist. For better
home efficiency, hire a remodeler with green home experience.
Figure out how much money you have to spend on the remodeling job or on
furnishings, landscaping and other necessities for
your new home or newly-expanded space.
Once you have created your list of requirements, decide how to accomplish your
vision. Will you use a professional home remodeler, do it yourself or is the
project so big that
you really have to move to get what you need and want in your living space?
Thinking Green
One thing to consider seriously when buying a new home or remodeling an older
structure is energy efficiency, which can save you a tremen- dous amount of
money on utilities and maintenance.
NAHB’s New American Home, designed anew every year, is always a leader in green
building. This year
’s model, introduced at the NAHB International Builders Show in January, featured
natural gas heating and cooling, photovoltaic cells, solar water heating and
innovative insulation ideas.
“The whole package of energy-efficiency products worked together to make this a
near-zero energy home,
” said Bill Nolan, chairman of the New American Home task force. “The home was sited to optimize solar resources and incorporated landscape design
that helps limit water and energy demand. Soil erosion and disturbance was kept
to a minimum.
“The design concepts, construction techniques and materials used in the New
American Home 2009 can be adopted for use in any home,
” Nolan said. “The showcase home is a collection of ideas for the industry to take away and put
into any new or remodeled home.
” For more details, visit
www.tnah.com.l
