American Voters Value Homeownership
By President Kevin Maleska, Maleska Custom Builders, Inc.
Central Minnesota Builders Association
For generations of Americans, owning your home meant owning your future and building a sense of stability, pride and accomplishment. Even with the economic turmoil of the past few years, Americans remain committed to the American Dream of homeownership. And if politicians seeking to reduce the deficit by reducing or eliminating government incentives to own a home had any doubt, a recent survey of likely voters proves it. Read more
New Homes of the Future: Smaller, Greener and More Casual
By President Kevin Maleska, Maleska Custom Builders, Inc.
Central Minnesota Builders Association
The economic downturn has changed the way Americans look at a lot of things, including what they are looking for in their next home. A study by the National Association of Home Builders suggests that the recession has caused prospective home buyers to shift their perspective on the housing they want and need, and that the new home of the future will focus more on efficiency than indulgence. Read more
Beware Foreclosure Bargains
By President Kevin Maleska, Maleska Custom Builders Inc.
Central Minnesota Builders Association
It’s an unfortunate result of the recession — many families haven’t been able to keep up with their mortgage payments and have lost their homes to foreclosure. And foreclosed homes often sell for less than market rates, making them seem like a bargain to buyers who are used to the inflated prices of a few years ago. Read more
Housing Outlook is More Upbeat
Optimistic signs for the housing industry.
- Housing stocks are outperforming broader stocks: S & P 1500 home building stock index is up 38% since mid-October, vs 7% for the S & P 500.
- Moody’s predicts singe family housing starts will rise 37% this year.
Full story USA Today story predictions for Housing
Winter Weatherization Tips
By Nick Preusser, Great River Construction LLC, CMBA President
Much of the country faces months of chilly or even sub-zero weather, it’s not too late to make sure your home is adequately weather-proofed and save a few dollars (or more) on your utility bills. Here are some things you can do to improve your home’s efficiency and make sure you and your family are comfortable through the winter months: Read more
Young Households Count on the Mortgage Interest Deduction
By Nick Preusser, Great River Construction LLC, President, (Central Minnesota Builders Association)
Homeownership, the foundation of the American Dream and the American economy, is under attack. Lawmakers are considering tampering with the mortgage interest deduction—which has been part of the tax code since its inception in 1913—in a bid to reduce the federal deficit.
But the mortgage interest deduction is often a key consideration in household financial planning and a family’s ability to afford their monthly housing payments—especially young families that are new home owners. In the continuing economic downturn, changing this important tax provision could tip the scales for millions of families who are struggling to make ends meet on a daily basis. Read more
Prevent Holiday Breakins
Tips to stay ahead of the thieves.
Create the illusion of being home
Out of sight, out of mind – Keep your trees and wrapped gifts out of sight when you are gone!
Don’t give the crooks a reason to break in – Disguise packaging in the trash.
Don’t broadcast your whereabouts – Social media is not the place to talk about your travel plans.
Inform your local police department of your departure
Builder Confidence is Up for Second Straight Month
| Builder confidence in the market for newly built, single-family homes rose by three points to 20 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November. The gain builds on a revised three-point increase in October, and brings the confidence gauge to its highest level since May of 2010. Read more |
Home Affordable Refinance Program
CMBA President Nick Preusser, Great River Construction LLC
What is a HARP program (AKA-Home Affordability Refinance Program)?
The government’s refinance program called the Home Affordable Refinance Program (HARP) is designed to help homeowners stay in their homes through refinanced mortgages.
To qualify for a HARP loan, you must: Read more
New Bill Factors Efficiency into Home Values
Excerpt from BATC publication Plumb, Level and Square
The Sensible Accounting to Value Energy Act, would include a home’s energy savings in loans and appraisals.
This bill, introduced on October 19th, could be a game-changer in calculating how much money someone could potentially borrow from a bank to buy a home by including the home’s energy efficiency among the other considerations.