Builders. Start Your Homes!

June was a good month for builders nationwide, giving another glimmer of hope that this housing slump is over and that the market is returning. Showing a boost in confidence of builders, the housing starts for the month of June exceeded expectations and rose to a seven-month high. That is great news for those of us in the housing industry. Projections are looking good, confidence is high, and builders believe they can start selling homes again.

But, for the buyer that news is so-so news. That means that demand is going up for new homes which will cause the prices to go up as well. As we have contested on this blog many times, ad nauseam, now is the perfect time to buy a brand new home, if you are thinking of doing so. Interest rates will go up, demand will go up driving prices up, and confident builders will raise their prices as well. So, if you are on the fence, get dealing now, before the window closes.

Read the Article:
7-Month High In Housing Starts

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

The Stable Dallas Housing Market

We apologize for the hiatus and not posting for about a month, but we are back in business. There is good housing news all over the place. Let's start with the article on dallasnews.com today.

The article states that the Dallas housing market "ranks among the top metro areas based on expected home price performance this year, according to Local Market Monitor, a North Carolina housing sector consultant". Now we, as readers of this blog, already knew that, but it is nice to find ANOTHER independent company to reaffirm that fact.

The article quotes the spokeswoman for Local Market Monitor as saying "Home values for the Dallas-Plano-Irving Metropolitan Statistical Area are forecast to remain constant over the next 12 months" while the rest of the country will see a decline. So, it appears that the Dallas market is stable, and will soon be on its way up.

The article:
Dallas Market Stability

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Dallas Market Is #3

I'll make this post short because I feel like I am beating a dead horse here, but the Brookings Institute just rated the DFW housing market as the third best in the country in regards to being affected by dropping home prices. What does this mean? The DFW market is still strong, despite the depressing national news you are hearing, and homes are selling. Combine that with the historically low interest rates right now and you have a perfect time to buy a home. This perfect combination probably won't be happening again for a long time.

The Article:
Dallas Is #3

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Existing Home Sales Rise AGAIN!!!

I was reading the news this morning and saw this Yahoo! article telling me that existing home sales rose 2.9 percent from March to April. What great news! We are starting to see a trend. Homes are selling. People are buying existing homes. People are building new homes. The housing market is turning around, especially here in the DFW area. But, you know what was buried in the article which may be even better news? The fact that home prices are down 15.4 percent below the levels from last year. That means that not only can you sell your home, but you can get a new home, your dream home, for much less than you could have a year ago. But, with new and existing home sales on the rise, these prices will not stay low for much longer. It appears that we have hit the bottom and are on the rise again. That is great news. Get out there and get your dream home while you can afford it.

Here is the article:
Existing Home Sales Up 2.9%

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Happy Earth Day

We want to commend Boon Elementary School for having an awesome Earth Day celebration. They picked up trash around the school, had various presentations for the students, and even had the students bring trash-free lunches on Earth Day. Congratulations to the school for being so proactive in promoting a green lifestyle.

We at Newport Homebuilders were happy to participate in the events on Earth Day. The LiveGreen guy went to the school and did eight 30 minute presentations to groups of 50 kids each. It was tons of fun. We think the kids learned some good stuff about recycling and conserving energy and water. Here is a picture of the event with the LiveGreen guy talking to a group of kids.


Thanks again Boon Elementary for letting us come and talk to the kids. We had a blast.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

How To Get Your Dream Home

If you are reading this blog, I don't need to remind you that now is the perfect time to buy a new home. You already know that. You are a savvy buyer who is in the market for a home at the perfect time. So, this week I will share with you something that we are doing at Newport Homebuilders to insure that every one of our customers is getting their dream home.

If you are going to spend at least half a year and hundreds of thousands of dollars to build a home, it may as well be exactly what you want, right? Well, we believe that. Which is why we started having all of our buyers meet directly with the architect at least twice during the pre-construction phase to draw out exactly what they want their home to be. Don't want a formal dining room? No problem. Let's take it out. Want a bigger master bedroom/media room/kitchen/family room? No problem. Let's expand it. Want an elevation with a little more curb appeal? We can adjust that too. We have had enormous success with this program and it is very gratifying, as the builder, to see these people get their dream home. Not just a beautiful, well-built home in a great community. Their dream home. Exactly what they have always wanted.

If you would like to know more, please let us know by visiting our website listed below. We would love to hear from you.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

One More Reason To Buy Your New Home Right Now

There is some definite fear out there in the housing market. People are wanting or needing to buy a new home, but are afraid of the economy. Is real estate a good investment right now? Will my home investment lose money over the next couple of years? What if I am forced to move in a couple years and I lose money on my home because of depreciation?

These are all good questions and questions that smart buyers are asking themselves. Luckily, you are in the DFW market. I came across an article saying that the PMI Group, a mortgage insurance firm based in California, predicts that there is less than a 3% chance that DFW home prices will be lower in 2 years than they are right now. The job market is still relatively strong and homes seem to be holding their value. This is good news for those of us who need to buy a home here in DFW. There is a 97% chance that your home will be worth AT LEAST what you bought it for, if not more. One more reason it is great to live in DFW.

Combine that with the fact that interest rates have never been lower and will probably not be this low for quite a while and you have the perfect storm for a buyer's market. What we are seeing right now in the Dallas market is something that is rarely seen. There really is no downside to buying a home right now. Cheap prices. Low interest rates. Home appreciation. Existing home sales going up. Strong job market. Strong economy overall. We are truly lucky. There is not much risk in this market at all.

Here is the article:
Risk of Home Depreciation Low in DFW

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Existing Home Sales Rise In February

More good news for the national housing market struck on March 23. The National Association of Realtors say that the sale of existing homes rose 5.1 percent in February. That is great news. We already heard the news that housing starts were up in February, but it was quite a relief to hear that existing home sales were also up. Why? What does this mean? This means that people that are wanting to buy a new home and take advantage of low prices, low interest rates, or who just want to upgrade their home will have no problem selling their home.

Being in the home building business we get to hear people's concerns about buying a new home. For some they are worried about getting approved for a loan. But, most people are worried that they will not be able to sell their home because the market is "so bad". Well, it looks like the trend nationwide is upward. The existing home sales in DFW were also up, which is good news for everyone in the market for a new home.

Here is the article:
Existing Home Sales Up In February

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Housing Starts Up In February 2009

That's right. You read the title of this post correctly. According to reports from the Commerce Department, housing starts in February were up 22.2% from January, which is the largest one month increase since 1990. This is great news for the housing industry and just one more indicator that the housing market is turning around. It won't be long until the housing ball gets rolling again and home prices will start going up. If you are in the market for a home right now, you have chosen just the right time. Homes are selling and there are still great deals to be found. Lucky you.

Here is the article: Housing Starts Are Up In February

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

It's True. Everything Is Bigger In Texas. Including Home Prices

I don't know if everyone out there has heard the good news about home prices in the state of Texas in 2008, but they WENT UP. You heard correctly. Figures from this Bloomberg.com article show that home prices in Texas went up 3.6% in 2008, good for the 2nd highest increase in the country!

But, so typical of the news and the attitudes today, this article has a very negative tone. Phrases like "house prices dropped in 70% of U.S. states in 2008", "The U.S. economy is 'deteriorating rapidly' after 2.6 million job losses", and "U.S. home prices have dropped 18.5 percent from their peak in July 2006 and are now at May 2004 levels" do nothing to instill confidence in the American people and make the situation worse. But, Texas is a different story. This is just one more reason why Texans should pay attention to Texas-related news as well as national news. Texas had JOB GROWTH and INCREASED HOME PRICES in 2008. That is great news. Let's tell our friends and keep Texas going strong.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Have You Considered...?

So, you are looking for a new home right now. Congratulations. Now is the perfect time to buy. There are plenty of new homes to choose from in many neighborhoods in virtually every city. You have a lot of options. Plus, if you are buying your dream home it means that you have good credit, a solid job, and that you are financially savvy. All things that speak very highly of you as a person.

As you go from neighborhood to neighborhood, builder to builder looking for your dream home, you have a lot to consider. Are all interior doors 8 feet tall and made of solid wood? Do I love the elevation and floor plan? Can I make custom changes? How much of what I see in the model is an upgrade that I will not get in my home? The list goes on and on. But, what people are starting to discover is that not only are the aesthetic aspects of a home important, but the way the home is built is also crucial. Today, we will talk about indoor air quality and why that is an important consideration when looking for your dream home.


According to this fact sheet on the website for the American Lung Association (ALA), indoor air pollutants can be a major cause of lung diseases which claim 335,000 American lives each year. Think about it. How much time, including sleeping, do you spend inside your home each day? 8 hours? 12? 24 hours a day? We are always concerned about outdoor pollution, but how many hours do we spend outdoors each day? 1 hour? 2 hours? 6 hours? The point is, the average American spends much more time inside our home than we do outdoors. So, why are we not so concerned about indoor air quality. Well, we are getting smarter and realizing that when we buy a home, indoor air quality should be something that we should take into consideration.

The ALA has posted its 10 tips for a healthy home that would be good for you to read. Many of the items on the list are common sense like don't smoke inside your home and wash your bed sheets in hot water to kill mites, but some you may not have considered. When looking for a new home, ask your builder if the following features are INCLUDED in their home:

Tyvek® House Wrap Water Barrier — Reduces the build-up of trapped moisture in the walls which can eventually cause mold and wood rot.

Whole House Media Air Cleaner — Creates a healthier home by removing dust, pet dander, plant spores and other contaminates up to 83% more efficiently than the standard 1” filter.

Mechanically-Controlled Fresh-Air Ventilation System — Brings in fresh air and circulates it throughout the home, reducing the build-up of moisture, odors, and other pollutants.

Sealed Ducts During Construction — Minimize dust build-up in the air duct distribution system.

Kitchen Hood Vented to Outside — Reduces the build-up of moisture and cooking odors in the home.

Fireplace that Uses Outside Combustion Air — Reduces negative pressure build-up within the home.

Carbon Monoxide Detectors — Detect undesirable buildup of carbon monoxide in the home to ensure healthy air.

Sealed Garage from Living Areas — Prevents car exhaust and other fumes from entering the living space due to pressure differences.

Learn more about how Newport Homebuilders includes all of these features in every home they build here and at newportlivegreen.com.

All of these things work together to dramatically improve the air quality inside your home. You should never buy a home that does not include at least these features. If asthma or allergies are of special concern in your family, you may also want to ask the builder about these features:

Special dehumidifiers
Carpeting that uses nontoxic materials and glue
Paint that is nontoxic
Any other item listed on the ALA website

We hope this helps you in your home search and adds one more tool that you have at your disposal when looking for your dream home. A new home is a big investment and we believe you should never have to settle. An smart buyer is an informed buyer and we want to make everyone a smart buyer. Happy home hunting.


This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

More Proof Now Is The Time To Buy

I read this article today on the Yahoo! Finance page. It is an article about whether or not now is the time to buy certain things like netbooks, airline tickets, cars, and homes. This is the section on whether or not right now is a good time to buy a new home.

Home Purchase: Deal or No Deal?

Deal. If you are contemplating buying a home, now may be the perfect time to make a purchase -- if you have the money and a secure job.

Real estate sales have sagged in many parts of the country as buyers have been frozen in the headlights of the economic downturn. As a result, prices are falling in many markets.

"If I could buy real estate right now, I would," says Amy Bonis, a certified mortgage planner with Alera Financial in Raleigh, N.C. "It's clearly a buyer's market. If you can buy a house that is undervalued, it's like, what shade of green do you want?"

In addition, mortgage rates have fallen near historic lows, substantially reducing the cost of financing for buyers with good credit.

Bonis says buyers who act now rather than wait are likely to see the best return.

"Somebody has to start buying, and when they do, there are going to be more buyers on the market, which is going to cause home prices to go up," she says. "When you stimulate home prices to go up, that affects the economy in a positive way, which raises interest rates. What people don't realize is, by the time they hear that things are better, (their opportunity) is already gone."

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

6 Things No One Else Is Telling You About The Housing Market Right Now

What a great time to be a buyer! If you are in the market for a new home, you could not have picked a better time. But, because it is a buyer's market, buyers are not asking the right questions. There is a lot of information out there that would be very beneficial to know, but builders/sellers are afraid to tell the buyers and the buyers simply aren't asking. Today we are going to go over 6 things that no one is telling the buyer that you really need to know.

1. Beware of the discount! Many builders and sellers are promoting huge discounts on their homes. Why are they doing this? Are they about to be foreclosed on? Have they already been foreclosed on? Is the builder about to go out of business? If you see a seller or builder that is marking huge dollar amounts off the price of the home, that should be a red flag to you, the buyer. Of course you want the best deal possible, but at least ask the following questions: What is the home actually worth? Did they mark the "original" price of the home up so they could slash it down and say they are offering a great discount? What will living in a neighborhood with de-valued homes do to the price of my home when I try to sell it in a few years? What kind of financing am I going to get? What will my monthly mortgage payment be? Don't just look for the home with the biggest discount. Ask these very important questions. You'll be surprised at some of the things you discover.

2. Here comes inflation! Whether you agree with the stimulus package or not, it has been passed and we will be affected by it. Every time in our country's past when government spending has been dramatically increased, inflation soon follows. Now is no different. In the next couple of years we are going to see a great deal of inflation. What does this mean to the buyer? You better buy your home before the inflation hits home prices. Don't wait. You will miss your chance to get truly rock-bottom prices. The mainstream line of thinking out there now is that the buyers should wait until prices go down more and the economy hits rock bottom. But, no one is talking about inflation and its effect on the prices of homes. Be smart. Look out for inflation. Also, don't forget that people who own a home once inflation hits will see the selling price of their home increase as well. Be one of the smart buyers who are in a new home when inflation hits. You will reap the benefits of it later.

3. Interest rates are going up! Several years ago, Milton Friedman said that interest rates will NEVER go below 10% again. Boy was he wrong. Interest rates are ridiculously low right now and we will not see them this low again for a while. Striking while the iron is hot will save today's buyers thousands of dollars over tomorrow's buyers. Hurry up and lock in your low rate as soon as possible.

4. Homes qualify you for tax deductions galore! As you are doing your tax returns, please don't forget about all the tax deductions that are available to homeowners. Here is a link to some of them, but find out everything you can on this topic. You could find yourself saving a lot of cash just because you own a home. Also, new, energy-efficient homes qualify you for even more tax deductions, so be on the lookout for new "green" homes.

5. The price of the home is not the most important number to look at when buying a home! The monthly payment is. How much will this home cost you to live in it each month? This number includes interest rates, utility costs, taxes, tax deductions, HOA fees, etc. Look at the whole picture. When looking at new homes, don't ask the seller "What are you selling this home for?" but rather ask the seller "How much does this home cost to live in each month?" This will give you a much more accurate picture of the home and tell you what you can and can't afford. Don't get caught up in their "sale prices". Talk to them about living expenses. A home is an investment and should be treated as such.

6. Say goodbye to the capital gains tax relief! Pres. Obama's administration has promised to get rid of the capital gains tax credit. What does this mean? Well, right now if you sell your home and make a profit, that profit is TAX FREE up to $500,000 for couples filing jointly! Once that policy is overturned, that profit is taxable and the figure appears to be in the 25% range. That means that if you wait to sell your home until AFTER the tax relief expires, the government could be taking up to $125,000 that could have been in your pocket. The capital gains tax will come back. It will affect you when you sell your home. If you are thinking of selling your home and upgrading or downsizing, now is the time. Keep your money before Uncle Sam takes it.

I hope this has been helpful. Again, not all this information is pertinent to everyone in the country, but if you are buying a home right now, this is good information to have, and no one is telling you. If you have any questions, please let us know.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Newport Is Growing

In a market where all you hear about is homebuilding companies going out of business, it is nice to hear something positive about a company. Well, here is such an announcement. Newport Homebuilders is announcing that it will begin building in the latest and greatest village in Lantana: Madison. We are excited to have the opportunity to build in that village and are happy for buyers who will have the chance to live there.

Newport has started 2 brand new showcase inventory homes in Madison that are currently for sale. They should be done in a few months, but we are hoping they are sold soon so the buyer can customize the finish out to their exact tastes. Please visit our model in Azalea or newporthomebuilders.com for more information on these beautiful custom homes.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Map of Dallas Area

Dallasnews.com posted this map that shows all kinds of information about the Dallas home market. How did the prices change? What happened to home prices? What is the median price? What happened to home sales? How many days were homes on the market? What is the price per square foot?

The map does not include numbers to go along with each of the categories, but rather this is a comparative study done on the cities around Dallas. If you have any questions, please leave a comment and we will respond as soon as possible.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

2009 Texas Green Home Summit

The 2009 Texas Green Home Summit was held today at the Dallas Convention Center and it was great. Some of the greatest minds in green building converged in Dallas to give short presentations and talk to us about the direction green building is headed. A lot of points were made and everyone in attendance was really encouraged. This green building wave is starting to get bigger and bigger and it is quickly taking over the country and the DFW area. Dallas mayor Tom Leppert, the first speaker at today's summit, is on the forefront of this green wave, and has big plans for Dallas.

As a homeowner or future homeowner, it would be good for you to know trends in green building. The President of the National Association of Home Builders (NAHB) said in 1998 that by 2008, "if a builder is not building green, they are not building". We are really starting to see that come to fruition, especially with the economy and housing market the way they are. People are looking to get more out of their home. Not only do they want beauty, style, and location, but they want sustainability, health-consciousness, and efficiency. Only a well-built, well-designed green home can provide all those things for homeowners. Be aware of that trend as you look to build a new home or remodel your current home. Green is the future.

Check out the Texas Green Home Summit website to find out more information. I think everyone that went really got a lot out of it. We will look for the stats and information shared there to post on this blog. Have a green day.

Green Resources
Newport LiveGreen
NAHB Green Standards Website
Green Built North Texas
U.S. Green Building Council North Texas

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

2008 In Review

If you are not aware that 2008 was a bad year for the housing industry, you probably also were unaware there was a presidential election in 2008 as well. The slumping housing industry, and economy in general for that matter, dominated the news almost as much as the battle between Obama and McCain. With no positive news about the economy anywhere on TV or in print, I was surprised to read a study done here in DFW that yielded some surprising results.

The study showed that while the rest of the country saw their home values drop an average of 10% with some as high as 25-30%, DFW saw a price increase of 2-3%!! Isn't that great. The home values in one of the worst housing markets in several decades actually went up in the Dallas area. Owning a home was actually a sound investment. That is great news for all you homeowners or potential homeowners out there.

Here is the link:
Report Shows Home Prices Increased In 2008

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

Building Green

Green seems to be all the rage. Everything is going green. It seems that nothing can be sold or marketed nowadays without the green label, and new homes are no exception. Of course if you are in the market for a pre-owned home, you have very little chance of getting a green home, but buyers of new homes can have their pick of many green options in their home. Let's talk a little bit about the concept of green.

What makes something green? What makes a home green? Is it fancy insulation? Is it a radiant barrier that we hear so much about on the radio? Is it native landscaping that requires little watering? What makes a home green? Well, the short answer is: there are many standards of green that include Energy Star and Green Built North Texas. Do these standards make a home green?


As you can see, defining green is quite a challenging task. Everyone has their own definition of "energy efficiency", "environmentally friendly", and "money-saving". Well, let us suggest a few things to consider when searching for your green home.

1) How much is this home going to save me on my monthly utility bills? It is perfectly normal to want a green home because it will save you money. Heck, everyone is trying to save a little money these days. When talking to home building companies about green homes, ask them how much you will save each month (percentage) and how they can prove that. Do they have a third party inspector come through to verify? They should. That way you know you are getting a truly green home. Don't forget to ask about savings on your water bill as well as your energy bill. Green homes should be energy efficient and water efficient.


2) Indoor air quality. Did you think about this concept as being green? You most certainly should. This is one of the most important things to consider when looking for a home, especially if you suffer from allergies or asthma. Here are some things to ask a builder about. Are there return vents in every single room? There should be to provide fresh air to each room, constantly. Is the garage sealed off from the rest of the house? It should be, unless you want to breathe car exhaust. Ask to take a look at the air filter they use. Do they use the 1" filters found at Wal-Mart or do they use 4" media filters? Important questions.

3) How green is their building process? Does the builder recycle the unused brick and lumber or do they throw away all 8000 pounds of trash on a typical home? Ask them.

4) Are you getting a "systems approach" on your home? If you take a normal home, built to code, and add a radiant barrier to that home, what do you think the energy savings would be? 10%? 15%? Not very likely. Energy efficiency must be done as a system. That means that doing one thing to your home will not make a significant difference in energy efficiency. It is a combination of many things working together that will make your home truly energy efficient and green. Ask your builder to explain their green system to you. Just putting Energy Star appliances in the home is not going to make your home green.

I hope this helped you out a bit. Because green homes is such a hot topic right now, we will undoubtedly touch on it again in the future. Until then, happy home hunting. And remember, green homes may be tricky to identify, but the search is worth it because they will save you money EVERY SINGLE MONTH and they will have a better resale value in 5-10 years when all homes sold will be green.

Here is an article on realtors finally going green:
Realtors Go Green


This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640

FixHousingFirst.com

There have been some commercials on the radio about this new website, fixhousingfirst.com. I was intrigued, so I checked it out.

It is no mystery that we are in a recession. For those of you who do not follow the news closely, the recession was started in the housing industry. The fall of the housing industry is bringing down the entire economy. So, the logical solution to helping correct the downward turn of the economy would be to fix the housing market first. With a flourishing housing market, the rest of the economy will follow suit, pulling us out of this recession.

The website has very specific plans laid out and calls for all of us Americans to contact our Congressional representatives and let them know that helping the housing industry first will expedite the recovery of our economy. The site quotes many economic experts advising Congress that the housing market is the key to fixing the economy. It also cites a 1975 study that shows that when the economy was in trouble in 1975, helping the housing market helped the entire economy turn around, quickly and permanently.

Please go to the website and get informed on this issue. The economy is affecting us all and we must do our part to help correct it. This site is a good place to start.

This Happy News Brought To You By:
Newport Homebuilders
www.newporthomebuilders.com
469.854.6640