Understand and master new construction to grow your business
Inman
SEPTEMBER 5, 2023
Unlock new opportunities in a low inventory market when you dig into the new construction segment of the residential market.
Opinion: The “profitless boom” in residential construction
Housing Wire
FEBRUARY 22, 2022
The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Tye Alroe, director of Alroe Constructions , was recently let down by a subcontractor who pulled out of a job at the last minute. “I I had a roofer locked in six weeks in advance.
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New Construction Rebounds With 3.9% Jump in July
RIS Media
AUGUST 16, 2023
After a surprising decline in housing starts that perplexed pundits earlier in the summer, new construction ticked up last month, according to the latest new residential construction data from the U.S. Buoyed… The post New Construction Rebounds With 3.9% Census Bureau.
Construction worker shortage has reached “crisis” levels
Housing Wire
NOVEMBER 4, 2021
For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades. million new hires for construction. Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed.
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Top 4 Energy-Efficient Home Design Principles for New Constructions
Louisville Homes
APRIL 15, 2024
This is why energy-efficient rental homes are in such high demand and why savvy homeowners and property investors […] The post Top 4 Energy-Efficient Home Design Principles for New Constructions appeared first on Real Estate Expert Tre Pryor.
7 Smart Ways To Lower the Cost of Buying a New-Construction Home
Realtor.com
NOVEMBER 17, 2022
Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.
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Standard Features vs. Upgrades in a New-Construction Home: What’s the Difference?
Realtor.com
JANUARY 17, 2023
Getty Images One of the reasons many homebuyers are drawn to buying a brand-new home is that they often get to choose many of the home’s features to suit their tastes. But with new construction, you can call the shots on countertops, fixtures, flooring, paint colors, and so much more to make your home feel like, well, you!
New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True
Realtor.com
JANUARY 2, 2023
Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.
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New Construction Pros and Cons: Advantages and Disadvantages
Louisville Homes
DECEMBER 21, 2021
On a regular basis, acquiring good quality construction materials, visiting the construction site, and negotiating with the labor force, laborers, and painters is a physically challenging activity. In this piece, we’ll look at new construction pros and cons. Customization Is Amazing. Disadvantages . Limited Options.
5 Must-Haves for Energy Efficiency in New Construction Homes
Louisville Homes
NOVEMBER 2, 2023
It is considered the key component of sustainable living, and it may have a significant impact on both the long-term comfort and energy expenses of your new home.
Proprietary Capital completes acquisition of AFR, hires new COO
Housing Wire
FEBRUARY 12, 2024
residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs.
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Why You Need a Realtor to Buy New Construction
Realty Biz
APRIL 12, 2023
Buying a new construction home involves a different process than buying an existing home, and some people wonder if they need a real estate agent at all to buy one. While you technically do not need a realtor to represent you when you buy a new construction home, there are a few reasons it would be in your best interest to do so.
What is Covered Under a Builder Warranty in New Construction Homes?
Realty Biz
MARCH 29, 2021
When purchasing a brand new construction home, they are often covered by a warranty for about the first one or two years of ownership. It is not uncommon to see some new housing developments advertise that they offer a builder’s warranty. What is Covered in a New Construction Warranty?
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Become a New Home Construction Expert
The Residential Specialist
FEBRUARY 27, 2024
New home construction can be a profitable niche for real estate professionals who are willing to dedicate the time and effort By Myrna Traylor Most residential real estate professionals enter the real estate field with an eye on the largest market—resales of existing homes. She outlines the stages for a typical new home build.
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Benefits of Investing in New Construction Real Estate
Norada Real Estate
JANUARY 27, 2023
When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. They are the owner and seller.
Inflation moderates to 3.2% in October
Housing Wire
NOVEMBER 14, 2023
“Shelter inflation has been coming down slowly since the summer, as new residential construction activity ramped up in 2023,” said Lisa Sturtevant, chief economist for Bright MLS. Even though shelter prices dropped to 0.3% the prior month, they’ve increased 6.7%
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New home sales dip 2.5% in June, but continue to be an outsized share of the housing market
Housing Wire
JULY 26, 2023
“The market for new homes is booming because the number of existing homes coming on the market has slowed to a two-decade low. It’s a unique housing market, unparalleled in recent years, for the active inventory to be so heavily skewed towards new construction. from a month prior, but down 3.6% compared to June 2022.
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Opinion: The ripple effect on the U.S. housing market from China’s real estate crisis
Housing Wire
OCTOBER 5, 2023
The real estate market in China, both commercial and residential, have been unwinding over the last few years. some luxury residential markets that saw an influx of Chinese buyers could be particularly vulnerable. This could make raising capital for new construction projects harder, and more expensive, everywhere.
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The Most Luxurious New Construction Condo Developments in the U.S. Right Now
Realty Biz
JUNE 15, 2021
Residential construction in the U.S. Despite declines in both affordability and availability, however, the luxury new construction condo market across the country features more than a few intriguing options, starting with these high-profile developments: 1000M – Chicago, IL. SPIRE – Seattle, WA.
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NAR’s Lawrence Yun predicts lower rates, 15% jump in existing-home sales in 2024
Housing Wire
NOVEMBER 15, 2023
He began his presentation during the “Residential Economic Issues and Trends Forum” by analyzing the data points that impacted 2023 real estate conditions before diving into forecasts for next year. In 2023, new-home sales are up 5% year to date, Yun said.
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Buy an Existing Home or New Construction: 5 Things to Know
Louisville Homes
APRIL 7, 2022
You have a couple of options, namely, buy an existing home or new construction. The other option is to go the new construction route. Next is buying the materials and beginning construction. One thing to really focus on when deciding whether to buy an existing home or new construction is the layout.
Oklahoma Brokerage Affiliates with Better Homes and Gardens Real Estate
RIS Media
APRIL 19, 2024
The white-glove full-service company assists clients in a wide range of real estate transactions, including assistance with luxury residential listings, ranch and rural properties, new construction, commercial sales, land sales and… The post Oklahoma Brokerage Affiliates with Better Homes and Gardens Real Estate appeared first on RISMedia.
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What Are Builder Incentives? The Secret to Getting a Deal on a New-Construction Home
Realtor.com
NOVEMBER 7, 2022
. “You will find these incentives explained on websites, social media, signs, and other places a builder might advertise to the public,” explains Kimberly Mackey , founder of New Homes Solutions and a sales and marketing management consultant specializing in residential homebuilding.
Here’s how wholesale lenders and brokers are navigating near-8% mortgage rates
Housing Wire
OCTOBER 6, 2023
But people need homes,” said Kenny Deen, senior account executive at the independent mortgage banker and residential home lender Paramount Residential Mortgage Group. ” Amid the challenging landscape, Guerin, from New Jersey-based AFR, said the company doubled its efforts to do more renovation loans.
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The current REO market requires an expansion of services for business growth
Housing Wire
FEBRUARY 22, 2024
Balancing supply and demand is a delicate dance between new construction and existing properties. TF: VRM Mortgage Services (VRM) is an experienced residential and commercial real estate solutions provider, transcending conventional boundaries to deliver a spectrum of services beyond REO.
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Sales of New-Construction Homes Rebound to Pre-Coronavirus Levels, Rising 10% in July
Redfin
AUGUST 25, 2020
Meanwhile, the supply of new-construction homes for sale slid 28.4%, representing the largest drop since at least 2013, when Redfin began recording this data. As a result, sales of new homes are growing faster than sales of existing homes. Sales of newly-built homes climbed 10.1%
Home prices accelerated in March even as mortgage rates climbed
Housing Wire
MAY 30, 2023
New construction could be the beacon of light the housing market desperately needs right now, as home builders are gaining confidence amongst rising sales, hopefully soon to translate to more residential construction breaking ground in the coming months.”
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Ron Terwilliger on how to make more affordable housing
Housing Wire
FEBRUARY 8, 2022
Supply-side” solutions that focus on new construction and the preservation of the existing housing stock are equally important. We can also invest in and deploy new construction technologies, like 3D printing, which could save time and reduce costs. Low housing inventory. So, what can we do?
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Mortgage rates might soar even higher
Housing Wire
SEPTEMBER 22, 2022
We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. “We do not see new construction returning in a meaningful way any time soon. Our macro-outlook is that demand for housing will remain out of balance with supply for the mid to long term.
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The big short in housing supply isn’t going away
Housing Wire
JANUARY 6, 2022
In November 2021, the supply of homes for sale nationwide as a percentage of occupied residential inventory remained near historic lows at 1.19% — meaning only 119 in every 10,000 homes were for sale — much lower than the historical average of 2.5%. The majority of the supply of homes for sale come from existing homes, not new construction.
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How the Russian-Ukraine War Might Affect Residential Real Estate
Realty Biz
MARCH 1, 2022
residential real estate market. What could prove interesting is that the effect could be felt on both the supply and demand side of the residential real estate market. Higher costs for construction will slow new construction, which will further reduce the supply side of the equation.
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7 Reasons Why Scaffolding is Key for Construction
Louisville Homes
AUGUST 24, 2022
Scaffolding is a temporary structure used to support people and materials during the construction, repair, or maintenance of buildings, bridges, and other large structures. Scaffolding is an essential part of most construction projects. Without scaffolding, construction projects would be impossible to complete.
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The Aging Housing Stock
Eye on Housing
FEBRUARY 6, 2023
owner-occupied housing stock is aging rapidly especially after the Great Recession, as the residential construction continues to fall behind in the number of new homes built. With a lack of sufficient supply of new construction, the aging housing. Read More ›
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How to write a lead-winning, memorable real estate agent bio (+ examples)
Housing Wire
FEBRUARY 8, 2024
With extensive experience in new construction home sales, Janet is certified in luxury home sales and specializes in relocation and new construction builder sales. Growing up in Savannah, Georgia, as the daughter of a builder and developer, she learned the processes involved in new home construction from her dad.
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Is the Number of Homes for Sale Finally Growing?
Keeping Current Matters
SEPTEMBER 16, 2021
An important metric in today’s residential real estate market is the number of homes available for sale. New construction is starting to take off – Though new construction is not included in the realtor. It’s the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available.
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Prices and Lack of Inventory Continue to Transform Residential Real Estate
RIS Media
MARCH 18, 2022
She added, “Builders are working feverishly to get new construction and move-in ready homes on the market, but it’s going to take time for inventory to rise enough to curb runaway price growth. Homeowners may be worried about rising interest rates, since they make a new mortgage considerably more expensive.
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Hope Is on the Horizon for Today’s Housing Shortage
Keeping Current Matters
JUNE 15, 2021
When it comes to new construction , builders are trying to do their part to bring more newly built homes into the market. In their Monthly New Residential Sales report , the United States Census Bureau states: “The seasonally? adjusted estimate of new houses for sale at the end of April was 316,000.
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C-PACE Lending Flourishes in Some Communities While Others Fall Behind
Propmodo
APRIL 23, 2024
It provides long-term, fixed-rate, and non-recourse loans for up to 30 years for any aspect of real estate construction that enhances energy or water efficiency. The program’s humble origins date back to 2008 in Berkeley, California, when it was a residential financing option called PACE. The funding is only available for renovations.
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Lower mortgage rates, higher demand lead to optimism for late 2023
Housing Wire
DECEMBER 20, 2022
“The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S. retail residential mortgage applications. from this time last year. last week from 29.4%
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Hope and homebuyers return to Paradise
Housing Wire
DECEMBER 28, 2021
Every home, every little business, there were a few that made it along the main streets, but other than that, at least 95-98% of the residential housing in the area was gone,” local eXp Realty agent Mike Stearns said. Local agents are slowly seeing new construction listings pop up.
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Canadian Permits To Build New Homes Fell Further Into Correction Territory
Better Dwelling
DECEMBER 1, 2021
Canada is planning a lot of new construction activity, but it’s not housing they’re looking to build. The increase in permits, a leading indicator of future building activity, was due to non-residential building. Residential building actually weighed down the aggregate, falling further […].
Florida Housing Market Predictions 2024
Marco Santarelli
OCTOBER 26, 2023
This migration is contributing to job formation and strengthening both residential and commercial sectors. Lisa Hill, a broker-associate, suggests that buyers should consider new construction due to low inventory. Residential developments are expanding to outlying areas due to the growth in hybrid work.
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Latest Jobs Report: What Does It Mean for You & the Housing Market?
Keeping Current Matters
APRIL 7, 2021
” What does this mean for residential real estate? The latest jobs report gives hope for new housing construction, and therefore brings hope to buyers as well. Residential construction building jobs increased 3.9% The construction industry remains a labor-intensive industry.
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Are higher-risk homes cheaper?
Housing Wire
JUNE 29, 2021
Of the 2,546 residential properties in Otay Ranch, 942—or nearly 40% of them—possess high hazard risk. San Diego, in particular, has seen the expansion of new construction and development into the wildlands, thus exposing a greater number of homes to the susceptibility of wildfire.
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