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Category Archive: ‘Builders’

Carmel Valley New

These new homes range from 3,831 sf to 5,065 sf; priced from the $1,800,000s.  Including the ample exterior living space, these homes are huge – you would need 5-10 people living here for it to make the most sense:

They are also helping to bring attention to Rancho Santa Fe Farms and Rancho Santa Fe Lakes next door.   Here is a professional video of a resale listed on the range $2,995,000 – $3,295,000: https://youtu.be/xesNNfvH6Zc

Posted by on Nov 9, 2016 in Builders, Jim's Take on the Market, The Future, This Is America | 3 comments

Catering to the Wealthy

3-car

A recent trend in home construction points to growing polarization in the market, as more new homes come with three-car garages than ever before.

Twenty-four percent of homes built last year had garages for three or more cars, according to an analysis of Census data by Robert Dietz, chief economist for the National Association of Home Builders. That is up from 16 percent of homes in 2010, and 11 percent in 1992.

But it’s not so much that Americans want larger garages across the board. Instead, Dietz says homebuilders are increasing constructing houses for older, more monied residents, many of whom have teenage drivers and value three-, four-car garage homes.

“We’re seeing a substantial change in the mix of buyers that builders are catering to,” Dietz said. “The key point is that there has been a significant amount of weakness for entry-level, first-time buyers.”

Read full article here:

https://www.washingtonpost.com/news/business/wp/2016/10/27/further-proof-that-home-buying-is-increasingly-for-the-wealthy/

Posted by on Oct 28, 2016 in Builders, Jim's Take on the Market, Market Conditions | 2 comments

SD Middle-Class Housing Crisis

top

The building industry is selling more new homes, but their focus is on the higher-end markets, and not much is happening for the middle class.

KPBS found a guy to whine about it on camera; but it’s a free market, and rich people are winning. It’s not going to change – what can government do?

Hat tip to daytrip for sending this in!

http://www.kpbs.org/news/2016/aug/08/housing-crisis-squeezes-middle-class/

Homeowners in San Diego County may not feel it, but a housing crisis is underway in the region, and the middle class is especially hard squeezed.

Longtime Escondido resident Guy Chandler faced a situation that may be all too familiar to many San Diego families. He described what happened at a recent San Diego County Board of Supervisors’ meeting.

“Probably the worst day of my life was in June 2015,” Chandler said. “My daughter, Jenelle, 37 years old, came to me and told me, ‘Dad, sit down. There’s something you’re not going to like. We have to move out of San Diego County.’”

Chandler’s daughter told him she was planning to take her family and move to another state because she couldn’t find a house in San Diego where she could afford to raise her kids.

“The next two days a lot of hand-wringing and crying went on,” Chandler said.

He now communicates with his grandchildren on the web via FaceTime.

“What’s my point?” he asked the board. “My point is, droves of young families are leaving the state of California because they can’t afford to live here.”

Posted by on Aug 16, 2016 in Boomers, Builders, Jim's Take on the Market, Market Buzz, The Future | 5 comments

Home Evolution

Great article from our friends at jbrec:
https://www.realestateconsulting.com/starter-home-solutions-expensive-markets/

High land prices in good locations generally force builders to build expensive homes. However, a number of builders have figured out how to build and sell entry-level homes to a growing demographic group. Builders are capitalizing on the rising number of affluent first-time buyers. These buyers tend to be dual-income, college-educated buyers with 10+ years of work experience who have delayed having children in comparison to their parents. For example, 23% of married couples had college degrees in 2014, compared to just 12% in 1990.  Below is our forecast by age group for 5.2 million more homeowners over the next decade.

jb

Many of our clients have identified fantastic solutions to address the demand of this growing demographic. Knowing exactly what this buyer wants and building the right product in the right location is crucial for success. Here are a few solutions:

  • High-density detached can work well. There are many detached products (with private outdoor spaces) achieving 16+ du/acre. Detached homes are generally more desirable for young families and allow for lower HOA dues.
  • Smaller homes. With good design, homes do not need to be large. Entry buyers will trade off size (to some extent) for location and lifestyle.
  • Three-story homes can live well for families—if done correctly. The layout must be open and allow for lots of light. Consider rooftop decks in lieu of private backyards.
  • Energy efficiency can save buyers hundreds or thousands of dollars per year, helping them choose a new home over a resale. Being green can save the homeowner a lot of money. Be sure to include this as a standard feature and market it.
  • More sales success has been achieved at prices below the FHA loan limit. FHA’s low-down-payment options appeal to many buyers.
  • Private outdoor space is crucial. These spaces do not have to be large, just functional. Consider pocket yards, side yards, and rooftop decks.
  • Minimize homeowners association dues and infrastructure bond payments.  Entry buyers are payment sensitive and will usually trade a lower monthly payment for fewer community amenities, especially if the community is walkable to shops, restaurants, and entertainment.

https://www.realestateconsulting.com/starter-home-solutions-expensive-markets/

Posted by on Aug 9, 2016 in Builders, Thinking of Buying? | 0 comments