Builders Getting Back In The Game!!

By
Real Estate Agent with West USA Realty

house under construction

Builders are getting back in the game.  Since the crash of the economy in 2007 / 2008 sites like this were few and far between.  With a recovery under way, builders and developers are cautiously starting to get the sticks and bricks back up.  According to statistics, new home sales were up 37% over 2012 and resale homes were up nearly 68%. 

All of this data points to a rebounding housing market where interest rates have been at all time historical lows.  As builders have taken note, the opportunity to find new lots to build on have started to move again and prices starting to rise as well.  Infill lots have proven to be a good source for land.  An example of these are 5 lots in North Scottsdale.  At 2.5 acres each, these lots provide plenty of space for the custom home builder to showcase a spec home or complete the dream for the client that has been patiently waiting on the sidelines.dixileta lots  Many lots are in areas with HOA's and tight building restrictions that provide a level of protection so you don't live next to a trailer. Other lots are in lesser restricted areas that have horse privileges and a more rural feel. 

The housing market continues to improve slowly even as interest rates have headed up in recent weeks.  While nearly a full point above the lowest of the lows, they are still very attractive and now is a great time to get in to the home you have been looking for.  The bargain basement properties have all but dried up and they came with there own set of problems.  Neglected and abused, many purchasers of these homes found that the expense to repair and replace was well above what they expected. Even the homes that flippers remodeled may still be hiding a red herring or two and the problems always show up when least expected.  A custom built home or one that has been well maintained by a long term owner are still the best way to be certain you know what you are getting. 

A lot like this one will provide you with unobstructed views of the valley below with the assurance no one will ever impede what you have paid dearly for. moonlight canyon The key is to do your homework and  check out the communities, lifestyles and above all the builders credentials.  There is no better feeling than walking through your front door knowing that you designed your space to be exactly what you wanted.  Be careful though...you will probably be looking to sell someday.  You don't want to build something that no one else will ever want.  That house without a dining room may be great for a bachelor, but consider those that will come behind you to get the biggest return on you sizeable investment. Keep it in the style of the neighborhood.  A "Cape Cod" or "Victorian" may be your dream, but if you build in an area with a "Southwestern" or "Tuscan" feel, you will stick out like a sore thumb....or may not get approved by the architectural committee.   

Do plenty of research, relax and enjoy the experience.  Lots can be found here.  If you are looking for a builder, we can assist with that as well.   

Strategic Real Estate Marketing, LLC.  Greg Schamp schampain@gmail.comwww.realestateinphoenixscottsdale.com

 

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Topic:
Real Estate Market Trends
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Arizona
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builders
land sales
vacant lots
custom homes
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land in scottsdale

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