Over the past few weeks customers are beginning to show up in droves! We have not been this busy for some time. Why you ask now? I believe that home buyers do not want to miss the "Perfect Storm" to build their new custom home. I have been in the New Home Building business since 1985 and I do not remember a better time to invest in building your new custom dream home. All the factors have lined up for the Perfect Storm opportunity! What is the Perfect Storm?
1) Record low interest rates! - Come on do we really think rates are going much lower? I can remember in 1985 selling homes that customers were getting DOUBLE DIGIT interest rate mortgages and they were HAPPY to get those. Today, mortgages are available in the 5% area, what are we thinking!!! Despite what you may hear from the media you can still get a loan! Yes I know that you have to do more than "fog the mirror" to get a loan but if you have decent credit and a fair amount of money to invest we are seeing our customers get loans everyday. I know many mortgage lenders who's business is great right now.
2) Building costs are low! - For the last two years the amount of starts of new homes have dropped to 15 year lows. Thus the law of supply and demand has kicked in and we are now purchasing building materials much less than even 6 - 12 months ago. Now is the time to act! As the market starts to improve and construction picks up as it is starting to, then you know what will happen. So don't wait to pay more!
3) Land costs are down! - There are plenty of lots on the ground right now to sustain the current rate of construction. There are some fantastic values out there right now. We are finding discounts up to 50% from what we saw a year ago. As sales rates continue to increase those discounts will disappear. Again, why wait to pay more!
I have been telling everyone I meet to take advantage of maybe a once in a lifetime opportunity to build your dream home. Diamond R Homes is a Full Service company that can meet you anywhere in the home buying process and get you to your goal of your dream home better than anyone! We would love to assist you in the realization of that goal. If not Diamond R Homes like I tell everyone BUY A HOME FROM SOMEBODY!!! Don't let the storm pass without taking advantage of it!!!
Eric Ritenour
Visionary Pacesetter
Diamond R Homes, Inc.