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Green Goes Mainstream for New Homes
David and Martha Gurzick bought their new home for its historic neighborhood and closeness to the cafes and antique stores of downtown Frederick, Md.
Now they are also warming to the utility bills. The Gurzicks live in a so-called net-zero energy house -- a home so energy-efficient that over the course of a year, its electricity consumption is expected to be zero. ...
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Gen Y is Finally in a Mood to Buy (Houses)
Housing industry, brace yourself: The Millennials are moving in.
A generation that's about 90 million strong, Millennials (or Generation Y) form the largest demographic wave in the nation's history -- even larger than the Baby Boomers. And now that the oldest are in their early 30s (the youngest are 12), they're coming of age for home ownership. ...
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Builders Fuel Rise in Home Sales
Developers Overlook Buyers' Credit, Cash Problems, Luring Them to Pricier Houses
Sales of new homes are surging in the U.S., far outpacing results for less expensive existing homes and creating an unusual disparity in the housing recovery.
The trend partly reflects the small inventory of previously owned homes, now at a 13-year low after investors picked over the long-depressed market. But the strong sales of new homes also show how the nation's home builders have mastered the art of selling, even to cash-poor buyers or those with spotty credit histories. ...
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At 35, Homeowners Get the Itch to Move On
The magic age is 35. That's when a lot of people start getting the itch for a bigger or better home.
Called move-up buyers, these are homeowners ages 35 to 44 who in 2012 saw a spike in home purchases while other age groups either remained flat or declined. ...
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McMansions Return: Big Houses Come Back
After five years of downsizing, homeowners may be "upsizing" once again. A growing family and a need for more living space are the prime reasons across the generations, according to a new survey by national homebuilder PulteGroup. ...
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Property Flippers Are Back as Housing’s New Middle Men
Who can forget the heady days of the housing boom when property flippers would follow condo developers around like hungry wolves, waiting to pounce on new projects before one grain of earth had moved?
Property auctions for single family homes weren't any different, as novice buyers were scooping up multiple properties only to flip them for a profit in a matter of weeks.
Those days are gone; the price appreciation is gone, and the funding is gone...but apparently the flippers are back. ...
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U.S. Homebuilder Confidence Surges to Six-Year High
Confidence among U.S. homebuilders rose this month to its highest level in six years, and many expect the housing recovery will strengthen in the next six months.
The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday increased to 40 in September. That's up from 37 in August and the highest reading since June 2006, just before the housing bubble burst. ...
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Last Month's Housing Starts Were Highest Since October 2008
U.S. builders broke ground on the most new homes and apartments in nearly four years last month, the latest evidence that the housing market is recovering.
The Commerce Department said Wednesday that housing starts rose 6.9 percent in June from May to a seasonally adjusted annual rate of 760,000. That's the highest since October 2008. ...
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New-Home Sales Rise at Fastest Pace in Two Years
Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery is continuing in the U.S. housing market, despite weaker job growth.
The Commerce Department said Monday that sales of new homes increased 7.6% in May from April to a seasonally adjusted annual rate of 369,000 homes. That's the best pace since April 2010, the last month that buyers could qualify for a federal home-buying tax credit. ...
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Big Homes Are Back in Business
Jamie and Ashley Mengle spent the past four years in a 1,920-square-foot, three-bedroom town house. In July, they will upgrade to a 3,200-square-foot single-family home with four bedrooms in Mechanicsburg, Pa., a suburb of Harrisburg.
The Mengles are at the forefront of a surprising trend in a number of new subdivisions across the nation: Bigger homes are making a comeback. ...
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Demand For Installed Home Tech Growing
Installed home technology is strongly solidified in builders' portfolios of services and offerings, according to the Consumer Electronics Association's "10th Annual State of the Builder Technology Market Study."
Entertainment and automation solutions are helping builders differentiate their businesses, while more common home technologies like structured wiring are necessary to compete effectively in the market. ...
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Home Builders' Health Improves
America's biggest home builders are posting the largest gains in sales and new orders in years, fueling speculation that the sector is starting to turn the corner.
Although many builders reported continued losses for the first quarter, the losses are narrowing when compared with earlier quarters and the companies are citing a significant jump in traffic. ...
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Expectations Rising for Housing Market's Spring Season
The spring home-selling season could be the strongest in years and may foreshadow which markets will lead a battered housing industry in an anemic recovery, economists say.
"This spring will be the litmus test for housing demand," says Steven Ricchiuto, chief economist for Mizuho Securities USA. ...
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Sales Contracts for Homes Rise to Highest Level Since 2010
The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.
The National Association of Realtors said Monday that its index of sales agreements rose 2 percent in January to a reading of 97. That's the highest reading since April 2010, the last month that buyers could qualify for a federal home-buying tax credit and the last time the reading was above 100. ...
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It May Be Time to Buy a Home, But Is It Time to Sell Yet?
Many Americans say now is a good time to buy a home, thanks to record-low mortgage interest rates and bargain home prices that are boosting affordability. But is it a good time to sell a house? That's a different story.
Seventy-one percent of 1,000 people surveyed in a December Fannie Mae housing survey said they think it's a good time to buy a house. But only 11% think it's a good time to sell. ...
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Builder Confidence Rises Again
Builder confidence in the market for newly built, single-family homes rose two points to 21 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for December.
This marks the third consecutive month in which builder confidence has improved, and brings the index to its highest point since May 2010. ...
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Lure Becomes Stronger for Prospective Home Buyers
Owning Continues to Become More Affordable Relative to Renting, but Several Obstacles Prevent Many from Biting
Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities. ...
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Builders Push 'Green' Homes to Stand Out in Foreclosure-Filled U.S. Market
In the 20 years Ron Betenbough's company has been building homes in west Texas, he's always been willing to compete on price. Now, in a market crowded with cheap properties, he's also touting environmentally friendly construction and energy-saving features.
Betenbough Homes has been promoting all its houses as "green" since November, after winning certification under an industry-run program, Betenbough said in a telephone interview. The company didn't raise prices, absorbing added costs of less than $500 on each of its units, which list for as low as $110,000 in some subdivisions.
"We chalked it up to marketing," said Betenbough, 70, who founded the Lubbock, Texas-based company with his son, Rick. ...
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Planned Communities a Bright Spot During Housing-Market Downturn
When Bradley Raczka and his wife began looking for a home near Phoenix, they knew they wanted to escape the high prices and cold winters of their native Chicago. But they didn't know they wanted a master-planned community.
Anthem, Arizona, is a planned community north of Phoenix built in 1998 by Del Webb (now owned by PulteGroup) and aimed at families with active lifestyles like the Raczkas. ...
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The Housing Market's Silver Lining
Amid the clouds of gloom hovering over the nation's housing market there is a silver lining. Steven Liberati sees it. The 28-year old heating, ventilation and air conditioning systems salesman and his fiancé are about to purchase their first home -- a co-op apartment in White Plains, New York -- for a fraction of what they thought it would cost just a couple of years ago.
"I'm always trying to take advantage of a situation. I feel like two years ago was a good time to rent," said Liberati. "Now it seems very affordable. We had to jump on the situation." ...
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Home Price Bargains Coming This Summer
Home prices are already a third off their highs, but this summer could bring the real discounts.
Buyers are still cautious, and anxious sellers will have to price aggressively to get them off the fence.
That could result in a "summer clearance sale," predicts Pete Flint, CEO of Trulia, the real estate web site. ...
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Buying Beats Renting in 80 Percent of U.S. Cities
Thanks to falling home prices and rising rents, would-be home buyers have the upper hand this house-hunting season. In nearly 4 out of 5 major U.S. cities, it's now cheaper to buy a home than to rent. That's up from 72 percent of cities last quarter, based on the Rent vs. Buy Index released by online real estate resource Trulia. ...
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Major Builders Starting to Offer Green Tract Homes
To stand out in a still-sluggish housing market, major builders are starting to sell affordable tract homes that come with solar panels and nearly zero utility bills.
On Earth Day Friday, Meritage Homes will begin offering a "net-zero" home that's designed to produce as much energy as it uses annually. ...
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Not Your Father's Double-Wide
Prefab Market Positions Itself for Housing Rebound
Sandra Beer watched her neighbors in East Chatham, N.Y., devote copious time and sweat equity in building all or part of their homes.
"As a single working mom, I realized I couldn't go that route," says Beer, 51, a fundraiser for a PBS-TV station in Albany. So she explored factory-built options that would be energy efficient. ...
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Owning a Home Still the American Dream, Despite Housing Bust
The American Dream is still alive and kicking, including within immigrant and minority communities, according to a survey from mortgage giant Fannie Mae.
The housing crisis hasn't quenched the homeownership thirst, the company found. More than 51% of people said the bust did not change their willingness to buy a home and an additional 27% said it actually made them more likely to do so. ...
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