October 17, 2011
Nation's Building News

The Official Online Newspaper of NAHB

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House Price Estimator Shows Value of Physical Features, Neighborhood Characteristics
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A newly updated economic model developed by NAHB enables builders, developers, prospective home buyers and home owners to see the impact that various physical features and neighborhood characteristics might have on the price of a home.

Looking broadly at the four principal Census regions of the country and the urban status of areas — central city, suburb or non-metro — NAHB’s online house price estimator finds a general tendency for house prices to be higher in the Northeast and West, as well as in central cities and suburbs.

The price tends to be lowest for homes built outside of a metro area, although some regional variation exists regardless of urban status. ... Read More

Lumber Prices Provided by Random Lengths
Framing Lumber Composite $ 262 $ 1
OSB Composite $ 203 $ 1
Southern Pine Plywood Composite $ 456 $ 2
With permission from: www.randomlengths.com      
Layouts For Living
Floor Plans: Entry Portico, Secluded Side Entry Add Elegance to Home Built for Entertaining
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The eco-savvy Residence 2 near San Diego features an elegant portico and secluded side entry. Photos by Eric Figge Photography

One of the first striking differences about Residence 2 by Brookfield Homes in the eco-savvy Rockrose at the Foothills community in Carlsbad, Calif., near San Diego is the entry portico that leads to a secluded side entry.

But the elegance and excitement don’t end there. Once inside the formal entry, visitors can see that this award-winning home is built for entertaining. ...... Read More

Gaining Fair Green Home Appraisals Sees Major Headway in New Appraisal Form

Representing major headway in gaining fair appraisals for green homes, the Appraisal Institute has introduced a new form to help analyze values of energy-efficient home features.

The first of its kind, the three-page Residential Green and Energy Efficient Appraisal Addendum is intended to be used by appraisers and is designed to be attached as an optional addendum to Fannie Mae Form 1004, the appraisal industry’s most widely used form for lending purposes.

“This addendum is another example of how the Appraisal Institute is at the forefront of real estate valuation,” said Appraisal Institute President Joseph C. Magdziarz. “It will help the industry standardize the way residential energy-efficient features are analyzed and reported.” ...... Read More

Social Media, Networking, Land Deals Help Builders Thrive in Tough Market

Keith Grant, co-owner of Grant & Co. in Collierville, Tenn., may not have heard of half of the social media websites on which his agents are listing his homes, but he knows they’ve helped his company grow from a 2% to a 15% share of the Memphis market.

“I have one agent in particular who sold nearly twice as many homes as all the rest of my other agents and she was putting her stuff on every one of those websites,” he said.

Grant was speaking at the “Builder Focus: Proven Strategies for Success” session at NAHB’s fall board meeting in Milwaukee on Sept. 8, which featured builders from around the country who have been thriving despite the housing downturn. ...... Read More

Housing Snapshot
Interest Rates  
30-Yr. Fixed: 4.12% 15-Yr. Fixed: 3.37% 5 Yr. ARM: 3.06%
1 Yr. ARM: 2.90% LIBOR (3 months): 0.41% Prime: 3.25%
Housing Starts*  (August 2011)
Total: 571,000 Single: 417,000 Multi: 154,000
Home Sales*  (August 2011)
New: 295,000 Existing: 5.03 million  
Median Home Prices  (August 2011)
New: $209,100 Existing: $168,300  
* Seasonally Adjusted Annual Rate

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