The Washington Post recently reported on yet another real estate story, announcing that the National Association of Realtors said the sales of previously owned homes dropped again in February, marking the third month in a row of “gloom” for those following the real estate market. However, it’s interesting that there was no mention of new home sales, and how many of these markets across the country are actually growing. It’s difficult to get the facts straight in today’s news sometimes. Statistics can be used to show off or report a particular scenario, but they don’t always portray the overall or complete picture correctly. Such is the case with the real estate market these days. Large companies are posting quarterly losses. However, while it is clear that some areas of the real estate market are struggling to recover, new home sales isn’t one of them—at least not in our area!
It is clear that people are seeing the long-term value in purchasing a new home versus a resale, which is part of why the new home market is doing well even in the earliest stages of the country’s economic recovery. Add in the fact that first time buyers will receive a Federal Tax Credit of $8,000 if they close by April 30 ($6,500 to move-up/repeat buyers) and purchasing a new home now actually makes financial sense. If built in the right location and with a builder whose reputation and expertise are valuable in the area, purchasing a new home will hold its value much better than a resale.
Choosing to buy a new home delivers distinct advantages: the buyer can add personal touches that reflect his/her style and taste all while keeping the resale value in mind for years down the road. Many areas are seeing growth in jobs, new home sales, and business construction, despite the fact that much of the media would like you to think otherwise. Do your homework. Investigate the opportunities in your area. You may be pleasantly surprised at your new found investment opportunities.
Stylecraft Builders – Central Texas’ New Home Builder