Thursday, April 22, 2010

Singles Want New Jersey Suburbs

According to a recent survey of single home owners on the factors that motivated them to buy, more singles are buying homes in suburbia.

Here are some figures that reflect the reasoning behind their choices:

52 percent chose the suburbs over urban or rural areas.

53 percent of single home owners said they purchased a home because it was a better deal than renting.

68 percent chose a home priced lower than they could afford.

Of the 13 percent who own their home jointly with another person, 49 percent made the purchase with their parents.

55 percent have less than a 30-minute commute to work.

40 percent live within 30 minutes of their parents or extended family.

27 percent of women thought the number of bedrooms were important, while only 18 percent of men felt the same way.

38 percent of men would consider buying a foreclosure, while only 29 percent of women would consider one.
There are many New Jersey new home communities in our suburbs.  Contact me for information on where and who and how much for New Jersey new home developments.
Joe Giancarli, Sales Associate

Thursday, April 15, 2010

Builder Confidence Index Jumps

Builder confidence in the market for newly built, single-family homes improved significantly in April as consumers rushed to take advantage of home buyer tax credits set to expire at the end of the month, according to results of the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), just today. The HMI surged four points to 19 in April, its highest level since September of 2009.

"Home builders reported some real improvement in current sales activity and traffic of prospective buyers through their model homes over the past month," said NAHB Chairman Bob Jones. "While we remain cautious about what future months will bring, it's great to have this positive momentum at the start of the spring home buying season."

"An expected surge in buyer activity leading up to the expiration of the home buyer tax credits and a gradually improving economy helped to brighten builders' view of the marketplace in April," confirmed NAHB Chief Economist David Crowe. "Meanwhile, builders have a more neutral view of what may come in the next six months, and are very aware of the many factors that continue to drag on housing at this time - including the critical shortage of credit for new and existing projects, problems with inaccurate appraisals, and the ongoing flow of foreclosed properties on the market. Greater economic growth, particularly in the job market, and the abatement of these housing issues are needed to help move home building to a more sustained recovery."
The Midwest and South each registered substantial HMI gains in April, rising five points to 15 and four points to 21, respectively. Meanwhile, the Northeast posted no change at 22 and the West dipped two points to 13.
While the survey indicated no change in the Northeast, I have certainly been contacted by many buyers this past month who are interested in new construction.  To help this trend, builders are becoming aggressive about selling inventory, so they can concentrate on building as the season gets into full swing.
You may not have time now to use the tax credit (only 15 more days unless Congress extends it again) but you do have time to look at some new homes in Mercer County.  I know the builders and the developments - let's go preview some construction sites and plans.
Joe Giancarli, Sales Associate

Thursday, April 8, 2010

Kitchen Trends for 2010 in New Jersey New Homes

The National Kitchen & Bath Association surveyed designers to reveal the top design trends for 2010, and has released results you might want to consider in your Mercer County new home.

Trends popular this year include
  • Hiding your appliances in kitchen drawers, whether dishwashers-in-a-drawer or undercounter refrigeration (drawers being used as refrigerators). More home owners are opting to tuck their appliances away so they don’t interfere with the kitchen design.
  • Dishwashers-in-a-drawer are convenient -you can wash small loads of dishes in each drawer, which saves water and electricity
  • Shades of white and off-whites are the most common kitchen colors, followed by brown, beige, and bone hues.
  • The most popular wood for kitchen cabinetry remains cherry, followed by maple. Declining in favor are painted cabinets, light natural finishes, and distressed finishes.
  • Traditional is the most popular kitchen design with contemporary a close 2nd
  • Ceramic and porcelain tile and natural stone remain the most popular kitchen flooring, but hardwoods will dominate kitchens this year in many parts of the country.
  • Granite is the most popular option for countertops, but quartz is inching up to it in popularity, both in kitchens and baths.
The overall trends are toward more natural finishes, materials, and definitely toward green energy efficiency.

Interested in buying a new home this year in Mercer County or surrounding areas in central New Jersey?  I know the builders, the developments, and the process.  Give me a call or email for ideas on how to make your dream of owning a new construction home in Hamilton become reality.

Joe Giancarli, Sales Associate

(photos courtesy of ModernKitchenDesigns.)

Friday, April 2, 2010

New Jersey New Home Buyers - Time is Runnng Out on the Tax Credits

If you want to use your tax credit for a new home, now is the time to get started.  You have to be under contract by April 30, and then the builder has to build and turn over the keys to you by July 31.  Here are some ideas to speed up your process this last month:

1.  Know your market.  You don't have much time to look around, even online, but I know the new home communities here in Mercer County and surrounding counties.  Let's talk - pick my brain about where and what you want.
2.  Narrow your search. As soon as we talk about your best options, take a look online or by car and let me know what suits you best.
3.  Get preapproved.  This is your first job, but I can recommend reputable lenders.  Don't settle for a pre-qualification - you need an approval.
4. Know your needs and know your wants.  This is your 2nd job.  Needs and wants are different and will affect what you buy and how much you can afford. 
5.  Leave some time for contingencies.  The builder may not accept your offer immediately - he or she may counter, you may counter - leave a few days before the April 30 deadline.
6.  It probably is too late for a short sale as banks aren't known for their fast responses, but if you see a new home the builder is trying to "unload," let's give it a try.

Don't lose this opportunity to use your 1st Time Buyer or Trade Up Tax Credit in this 2010 tax year.  Contact me now to get started.

Joe Giancarli, Sales Associate

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