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Lot Shortage Problems Persist

Finding suitable lots remains a top concern among homebuilders. Sixty-two percent of builders reported that the overall supply of developed lots in their areas was low to very low, according to a survey conducted this month by the National Association of Home Builders. That marks the largest percentage of builders who have called lot shortages a severe problem since NAHB began tracking it in 1997

The problem has only grown in recent years. In September 2012, the percentage of builders who called lot shortages a problem was at 43 percent – compared to 62 percent today.

“The continued low supply of developed lots is a hindrance to the housing recovery that is still quite modest by most standards,” according to a post on NAHB’s Eye on Housing blog.

Lot shortages are the most problematic in what are considered “A” — or the most desirable — locations, according to NAHB. Thirty-four percent of builders said that the supply of “A” lots was very low compared to 19 percent of builders who called “B” lot shortages a severe problem or 14 percent in “C” locations.

“A shortage of buildable lots, especially in the most desirable locations translates into higher prices, as 38 percent of home builders said the price of developed ‘A’ lots was somewhat higher than it was a year ago, and 32 percent said the price was substantially higher,” according to the Eye on Housing blog. However, only 16 percent of builders said the price of “B” lots was significantly higher than a year ago, and 12 percent said the price of “C” lots was substantially higher.

On the local front Redding may feel the effects of this building concern but not as much when compared nation wide. Though many developers went upside down during the recent “bubble burst” a handful of Redding’s best survived and remain solvent today. Some of those builders bought the “underwater lots” for pennies on the dollar in hopes that when the market took off they would be in position to meet the anticipated demand for new construction. Those looking to build in the near future should have no immediate concerns.

What Redding needs is an “Affordable  Housing Developement” for lower to moderate  income . The likelihood of that happening is remote. That discussion has been on the table since I can remember. Land is expensive and cost prohibitive for the developer. When you get right down to it it’s all about the $$$.

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It’s Time to Replace Your Roof When…

Source: Metal Roofs

Most homeowners don’t think about their roofs until leaky ceilings and puddles form inside their home. In which case, you end up spending way more than you planned. Why think about your roof if there isn’t a problem?

roof-01According to Metal Roofing Alliance Executive Director Bill Hippard, “Roofers are most in demand following severe weather such as heavy rain or high winds. If you put off doing repairs or replacing your roof until you have a problem, you may find that the contractor has a waiting list, and your problem will get worse before it can be addressed.”

To avoid costly delays and repairs, we have put together a list of signs that you should look for throughout your home. So let’s get to it!..It’s time to replace your roof when…

1. Your roof has missing shingles.

High winds can remove shingles from your roof, creating an invitation for leaks. You can use binoculars to inspect your roof without a ladder.

2. Shingles are cracked or peeling.

Even if the shingles aren’t missing, there can be damage. If they’re curling or torn, they’re on their way to failing.

3. There are stains or water marks on your ceiling.

You may have a leaking roof even if you don’t see a puddle. It’s important to find the source of the leak and make repairs before the problem grows.

4. Shingles are discolored.

This can be a sign of mold or algae growth on your roof, particularly in warm, wet climates. The elements are hard on a roof, causing it to deteriorate and fail.

5. Your roof is old.

If you have a typical asphalt shingle roof, and it’s more than 10-15 years-old, chances are, you’re going to need to replace it in the near future.

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Going-Green

Best and Worst Trees for a Listing

Trees are important to buyers. According to the NAR17 percent of buyers rank a wooded lot/many trees as “very important” features to find in their next home. Of those who didn’t get the trees they wanted, 29 percent said they would have been willing to pay a median premium of $1,720 more to acquire a home with trees.

Clearly trees can make a big difference to a property’s curb appeal. But the wrong tree can bring added lawn maintenance, plumbing problems, disease, and other woes for home owners. Thankfully, HouseLogic has compiled two slideshows of the best and worst trees to plant so that you can be an asset to your clients’ landscaping planning.

If your spring listings are looking a little bare from the outside, your sellers may appreciate advice from you about how to spruce things up. Speaking of which, why not a spruce tree? HouseLogic included that hearty evergreen in their list of low-maintenance trees that amp up curb appeal. The other eight:

  1. Crape Myrtle
  2. Sugar Maple
  3. Smoke Tree
  4. Saucer Magnolia
  5. Japanese Flowering Cherry
  6. Northern Red Oak
  7. Eastern Red Cedar
  8. Fig

Houselogic also came up with a list of tree species to avoid, due to messy foliage, greedy root systems, rampant disease, and other factors. Here are eleven trees to advise your sellers against:

  1. Silver Maple
  2. Ash
  3. Quaking Aspen
  4. Lombardy Poplar
  5. Willow
  6. Eucalyptus
  7. Bradford Pear
  8. Mountain Cedar
  9. Mulberry
  10. Black Walnut
  11. Leyland Cypress

The best advice I give my clients whether a Buyer or Seller is to seek professional advice when making big decisions. Hire a professional who understands the playing field. When hiring a landscaper be sure he’s totally familiar with the local environment. He’ll know what trees to recommend.

Source:  HouseLogic.

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warning

Do’s & Don’ts of Home Selling

First impressions are everything when it comes to selling a home. “Most people make up their mind whether or not they like a house within mere minutes of stepping foot inside,” explains Don Frommeyer, mortgage expert and CEO of The National Association of Mortgage Brokers. “That is why it is crucial to make sure that you (and your home) are putting your best foot forward.

Here are the top Do’s and Don’ts for getting your home ready for the market:

Don’t over do it on the heat: In cold weather don’t over crank the heat. The air tends to be dry and intense. I might suggest including a humidifier.

Do consider Curb Appeal: Maintain the yard theme according to the season. In cold times plant cold winter in a winter planter. Keep driveways and walk ways clear of ice and snow. Have a clean doormat on the porch

Don’t expect people to use their imagination: Get rid of the ugly paint colors and cluttered walls and space. You may have nice floor plan and other nice amenities that are distorted by the colors and clutter. Buyers sometimes can’t use their imagination and tend to get turned off.

Do invest in updates that matter: “People will pay top-dollar for homes with updated kitchens and bathrooms.” If you can make even the barest improvements to these rooms, you will see a huge return.

Do keep it bright: Turn on all the lights open the curtains and keep it bright no matter what time of day it is. Crack open doors to closets and pantry. Even go as far as having the inside of the refrigerator clean and neat. People will look in there.

These are just a few more tips that I recommend to Sellers before and during the Listing period. If you are looking for more ideas and suggestions as a Seller I recommend you read my past Blogs addressing the matter. If your a Buyer I encourage you to read them also. The data is based on Buyers past experiences and input.

Source: RIS Media

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