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Existing Homes: Market Starts to Balance Nationally

2012-05-23T13:14:06Z

Those of you who are waiting to list your home because of a down economy can see the light at the end of the tunnel. Both nationally, and locally, existing home sales are up by nas much as10%, depending on your local market conditions.

Here are the National Stats:

Sales of existing homes were up 10 percent year-over-year in April and up 3.4 percent from March, according to the National Association of Realtors.

Existing home sales closed at a seasonally adjusted annual rate of 4.62 million in April, up from 4.2 million in April 2011 and 4.47 million in March.

The national median existing-home price increased 10.1 percent from April 2011 to $177,400 -- the largest year-over-year increase since January 2006. It was also the first time since June and July of 2010 that were consecutive months of year-over-year prices increases, following March's 3.1 percent improvement.

It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” said NAR economist Lawrence Yun. “The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.” Source- The Housing Zone.com.

Locally, there has been an upward swing in activity as well. I discussed the local market with my wife, Angela Mueller of Century21 Dairyland Realty the change in recent months. "Until the recent three months, buyers may have had a larger amount of time to consider a property before offering on it. In a growing number of cases, though, they are finding that they missed out on a great buy. They simply didn't anticipate the change in the demand for the property."

Angela Mueller- C21 Real Estate Agent
Medford, WI 54451

April Showers bring May Flowers.....and New Home Starts

2012-05-18T20:42:40Z

If your looking for information to confirm that the economy is improving, check this out..............
Housing starts in April were nearly 30 percent higher than the year before, with 717,000 new homes beginning construction (seasonally adjusted annual rate), according to data released today by the Census Bureau and the Department of Housing and Urban Development.

November Home Sales Looking Up

2011-12-30T14:13:17Z

Good news for existing home owners. Existing home sales are up for the month of November. Enough, in fact, that sales are nearing that of the final months of when the Federal stimulus package was in effect one year ago.

Pending home sales were up 5.9 percent in November from 2010 and up 7.3 percent from October, capping a fortnight of positive indicators for the housing market.

The National Association of Realtors' Pending Home Sales Index hit 100.1, its highest level since April 2010's tax credit-fueled buying rush. The index reflects

signed contracts, but not closings.

Stratford Offers Guardian Spray Foam insulation

2011-04-18T13:23:00Z

I'm back from a day of builder training at Stratford Homes. They have added a bunch of awesome products to their already extensive line of options. The new Guardian spray foam option really caught my attention. This "hybrid" system is composed of spraying 1"-2" of spray foam to prevent air infiltration, then adds a fiberglass batt insulation in the space remaining. This creates an R-24-R25 in a 2x6 wall, fall surpassing the industry standard of R-19. I'm sure you are asking why use a fiberglass batt insulation in the raining space. First, with batt insulation, additions can be made to the wall, such as adding adding electrical for a wall sconce or communications lines at a later date in the future. The second reason is that is helps to keep construction costs down.
It always pays to save energy, than to produce it. This new offering will accentuate everything Stratford Homes and Contemporary Homes do to make our homes the most efficient on the market. Happy Insulating!

Stratford Homes Open House Results

2011-04-12T17:54:00Z

I've had several inquiries to see how the local Stratford Homes open house went. I can say without a doubt, that the local population is much more optimistic than in the last two years. People wanted to talk about the things they want to get done, not about how the economy is. I am excited to say, that we have nine new potential clients from this event. We also had potenital clients come who we had met at our local builders show in Medford three weeks ago. Thank you to everyone that helped to make the open house a success.

Open House at Stratford

2011-03-11T14:15:00Z

Hey everyone, just wanted to let you know that Stratford Homes announced the date of their Spring Open house. Mark your calenders for Saturday, April 9, 2011. (10 a.m.- 3 p.m.) Yours truly will be there to meet you in person, and answer your questions regarding building, along with free building seminars and plant tours. There are four awesome model homes to see that day, including the award winning Timber Lodge plan. One, personally, I could move right into..... it feels so homey
If you need the address for your GPS, the Plant Address is:
Stratford Homes
402 South Weber Street
Stratford, WI 54484

Snow Loads on Roof

2011-03-07T13:39:00Z

I was talking with a client last week, and the question came up, " How much snow will be able to be on my roof before I need to shovel it off?" Considering that locally, we have yet another snow advisory happening over the next 48 hours, what a fitting question for the day.
Stratford Homes builds each structure to accommidate a 50 lb. per square foot snow load. This is higher than nearly any other home being built in Central Wisconsin. To compare, many structures snow load rating in this area are 30 lb.- 45 lb. When building in areas where there is significant snowfall, (like Lake effect snow in Michigan) they will increase the snow load to 70 lb., and in a few cases 80 lbs.

If you are one of the unlucky ones who do have to go out and remove snow from your roof, make sure to use a roof rake, and stay off the roof yourself. Many people have been injured because they started sliding on ice, or the snow released form the roof, taking them with it to the ground.

Radon Mitigation

2011-02-28T15:16:00Z

Angela and I, (my real estate guru, as well as my wife) have been talking about Radon in homes as of late. In the last twelve months, she has had some existing homes she listed, test positive for radon slightly above safe levels. These homes are located in areas where radon was previously unknown. She has had to have discussions with sellers and buyers regarding having radon mitigation systems installed. These systems can be retrofit, but is easiest to install when building your new home.
If you are concerned about radon in your own home, you can test for it. Check your local directory for listings for radon testing. If no listings, check with your local real estate office. They will have some contacts for this testing.
If you have a positive test that is above safe levels, then you have two systems available: passive or active systems.
Passive systems can control up to moderate amounts of radon, and have no moving parts to maintain. Passive systems utilize a pipe which goes from below the basement floor, and continues vertically until it exists the roof of the home. Air movement across the top of the pipe creates a chimney like effect, drawing air, from below the floor to the exterior world. It gives an exit path for radon to leave the building, without entering the living areas.
An active system uses a pipe which is installed the same way, but uses a powered inline fan to created a vacuum under the basement floor. This removes larger levels of radon from beneath the floor, before it can enter the living areas. The picture below shows Angela learning about an active radon mitigation system at the international Builders Show last year.

Good News for Wisconsin Home Sales

2011-02-28T15:09:00Z

After getting into the statistics from January a little more, I wanted to add another piece of information for Wisconsin, being that it is my home State. January sales of existing homes in Wisconsin is up 15.2% from January last year. Way to go Wisconsinites.......consumer confidence is strong amongst you! For those of you in other States, check with your local real estate professionals. They will be able to give you the percentages for your area.

Where are home values going?

2011-02-26T16:06:00Z

Ground breaking news everyone.......January Home purchases 2011 are up 5.3% from January 2010! Now that is a reason to take pause, and no one is looking, do your own version of an end zone victory dance. Give me a moment....."dah, dah, dah,la,la,la".... O.K. just got mine done.

Here's a link you can paste into your browser and read for yourself:

http://www.realtor.org/press_room/news_releases/2011/02/january_above

So what does this mean in the bigger picture? Continuing an upward home purchasing trend through 2011 would reduce the number of existing homes on the market, thus allowing the average selling price to come up. Good news for existing home owners, not quite as good news for people looking to purchase a home. After being a part of home building for the last 11 years, something in my gut is telling me the real estate market is finally on the rocky, pot holed, road to recovery. Don't get me wrong, I love to travel, but the last three years not a place I hope we ever have to visit again.

What do you see happening in your local market? I'm checking in with my Real Estate agent this weekend. I'll let you know Monday what she says is happening here, in Central Wisconsin.

Local Land Appraisal

2011-02-07T16:57:00Z

I had a meeting with a local appraiser this morning to have her take a look at some lots that we have prepared and have available for clients. They are located in and around the Medford and Rib Lake area, both in city, and a few country plots. We have seen some drop in land values, but nothing that would prevent building a complete home. We are fortunate that the homes we build (Stratford Homes) appraise at the top of the market. This helps offset any land decrease, thus making new home builds affordable for most families.
This is also good news also for anyone who holds a piece of land that they are preparing to build home upon. If you are willing to be a little conservative with placing options in your new home, appraisal should still work, just as it has in past years.

Under mount Kitchen sinks

2011-02-04T14:01:00Z

You gotta see this. We have a new under mount kitchen sink that that works with regular laminate counter tops, and is seamless! I know, how awesome is that. We put men on the moon 40 years ago, but couldn't get a laminate top/sink without a seam until now. So, say good bye to that seam to clean on all other sinks, and say hello to the new Wilsonart undermount sink line up.

What happens on closing day

2011-02-04T13:36:00Z

We are busy preparing a home for our client. We set the closing for Saturday at 9:00 a.m. The home construction has been completed, final inspection has been done, cleaning is complete, and it is 24 hours until the client resides there. So, what happens for closing? The client meets with us to do a final inspection of the home. We have a 120 point check list that helps us make sure every detail has been attended to. We teach the client how all mechanical systems work, and how to maintenance them. We then present the client with a folder containing all the warranties for the products used in the home. The clients final questions are answered, and then keys are issued so the client has sole access to his or her new home. Just imagine, 10 weeks ago we broke ground at our client's site. Saturday afternoon he moves in...... we so love what we do.

Plant Tours

2011-02-02T18:49:00Z

I have been asked about going to Stratford Homes to see how they build their home, and to see what is is like to build in a weather controlled environment. I very much enjoy showing the Stratford building process. You'll never see carpenters struggling in the mud, or getting rained on before the shingles are down. Just a clean, organized work area where each carpenter has every tool they need to complete their custom work. Let me know if you you would be interested in taking a plant tour, and I'll get it set up.
Residential Planner: John Mueller 1 -715-748-0896 office
jlmuellerch@gmail.com

floorplan of the week......Belmont ranch

2011-02-02T14:51:00Z

If you haven't received copies of the New Stratford Homes floor plan books, you need to hop online at Stratfordhomes.com and look, or go to contemporaryhomes.net to request a hard copy. The more I get to work with these plans, the more I see the details come to life. I just had to feature the Belmont Ranch plan in the Life Styles Brochure. When entering the foyer, the stair and kitchen island angle outward to make the plan open up. It's trully living life large, baby, but in a modest sized home. I am making it one of my goals, no, I am making it my New Year's Resolution, to build the Belmont in 2011. Make sure to take a peek and let me know your thoughts on how you would perfect the plan.

Clients Ask: When are new homes most affordable?

2011-02-01T17:54:00Z

"When are new home builds most affordable?"
As a residential planner, I get asked this question alot. There are several variables to consider, beyond what any builder has control over. These two factors are: Market changes in cost of materials and interest rates. When these two are favorable, you have the lowest cost to build.

So, where are these right now? Interest rates are still very low, currently today at approx. 4.75%. If you look at the graph below, the interest rate chart shows that today's interest rates are better than any of our parents saw throughout their lives.

Cost of materials: Materials prices, historically, are lowest in January and February. This is because demand for building items goes down in the winter season in our colder climates. As we approach Spring, materials suppliers anticipate building cycles and price materials higher as demand increases.

Currently, the best way to get the best pricing on a new home build, is to plan ahead now, facilitate your builder to pre-buy volatile materials, and use a mortgage provider that can lock in low interest rates up to 90 days prior to the conclusion of your build.