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Central Texas Custom Homebuilders seeing even more signs of housing recovery!

Categories: News | Posted: November 16, 2012 | No Comments »

I recently wrote about why now very well might prove to be one of the best times to buy a new Bella Vita Custom Home!  Since then there have been several articles written about the strong signs of recovery in the new housing industry.  More specifically, the new housing market in Central Texas has seen some of the most continuous and healthiest indicators that new housing is indeed quickly and aggressively bouncing back.  Bella Vita Custom Homes is extremely blessed to be the preferred custom home builder in Austin, Dallas and Houston.  The following is a brief summary of how all three of our Bella Vita Custom Homes’ new housing markets are performing as well as the rest of the Country overall.

Austin Texas skylineAccording to a report by Metrostudy, which is ‘a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market’, significant job growth and continuing rental increases in the apartment market remain the primary reasons for the increasing levels of demand seen in the new home market in Austin.  Metrostudy recorded 2,369 starts in Austin in the third quarter of 2012, up 37% from the third quarter of 2011 and surveys indicated there were 1,945 closings in Austin in the third quarter of 2012, up 14% from the third quarter of 2011.  Eldon Rude, the Director of the Austin market for Metrostudy, states that critically low inventory levels for developed lots in key locations will serve to both drive up home prices in some areas in 2013, as well as limit supply of new home starts in Austin within the next year, added Rude.Texas Capitol

The Dallas-Fort Worth area experienced a very healthy 32% climb in starts during the third quarter because new home sales have grown throughout the entire year and new home inventory is at a historic 20-year low.  Furthermore, homebuilders in Dallas raised their prices during the third quarter in more locations than any time in the last four years.  The icing on this cake for ‘Big D’ is the compounding fact that the lot inventory in the Dallas-Fort Worth market is now at a 13-year low and the most desirable communities have less than an 18-month supply of lots (that is low).  Several new homebuilders are struggling and searching hard to find replacement lots in these very popular and strong locations.

Another report generated by Metrostudy for the Houston housing market indicates new home starts are simply soaring.  In fact, annual starts are the highest level since 2008 and the current lot inventory is at the lowest since 2003; that’s a scary mix which is ultimately going to lead to higher prices across the market.  Greater Houston continues to rank among the very top job growth markets in the entire country, ”Much of the growth in new home activity has occurred in the upper price points over the last five quarters, though recently the lower price points have shown signs of growing demand,” said David Jarvis, director of Metrostudy’s Houston division.  Houston builders closed 6,014 new homes in the third quarter of 2012 which is an 11% increase from the third quarter of 2011.  The homes currently under construction in Houston represents a 43% increase from the activity at this same timeframe last year and over the past year, the supply of developed lots in the Greater Houston area has declined by an estimated 15%.

Mt. BonnellOn a national scale, the number of U.S. housing markets showing consistent improvement in three key measures of strength- housing permits, employment and house prices- for at least six consecutive months expanded by 22 in November to a total of 125, according to the National Association of Home Builders/First American Improving Markets Index (IMI).  “Not only did 22 additional markets qualify for the improving list in November, but the geographic distribution of included metros expanded from 33 states to 38 (plus the District of Columbia), while 97 out of 103 markets retained their spots on the list from the previous month,” observed Barry Rutenberg, chairman of the National Association of Home Builders (NAHB).  Rutenberg continued, “This shows that a housing recovery is firmly taking root and helping generate needed jobs and economic growth across much of the country”.  “This new high point for the Improving Markets Index provides the latest evidence that housing has turned a corner due to rising demand from consumers who are increasingly confident about the direction of local home values,” said Kurt Pfotenhauer, vice chairman of First American Title Insurance Company.

Construction spending moved up in September to the highest level seen in nearly three years, thanks largely to a boost by the housing sector.  Construction spending increased nearly 9% percent in the 12 months ended in September before adjustments for seasonal variations, the Commerce Department report showed.  Increasing demand for new homes is boosting residential construction as the real estate market sheds excess distressed properties and borrowing costs remain at historic lows.  The housing market recovery has been quickly strengthening with purchases of new homes rising in September to the highest level in more than two years, the Commerce Department stated.

Many industry ‘experts’ during the housing recovery have stated that the Central Texas market would be the last one to feel the effects of the corrections and more importantly the first ones to actually come out of all of it which is proving to be quite true.  Bella Vita Custom Homes is very blessed that these wonderful Central Texas cities are the only markets that we have chosen to enter and build custom homes in as I feel Central Texas was-and still is- one of the most insulated and protected markets in the entire Nation.  In my opinion, all of these facts and stats are very telling signs of the times ahead and it certainly looks like a nice steady recovery is underway in new home building… and gaining substantial momentum.

Live Beautifully,

Tony

Is now the best time to invest in a new Bella Vita Custom Home?

Categories: Creating Value, News | Posted: October 28, 2012 | No Comments »

This is a very understandable question to be asking if you are currently considering investing in a new Bella Vita Custom Home.  I would have to say that I truly feel now is indeed one of the best times to invest in a new Bella Vita Custom Home.  The main reasons in my opinion are due to historically low interest rates coupled with the low inventory of available new homes, recent increases in homebuilder confidence, strong signs of recovery in the housing industry and our national economy.  These are all very good indicators that the new home industry has indeed turned a corner and is now heading back in the correct direction.

The Federal Reserve‘s latest announcement to keep interest rates incredibly low for a year longer than previously thought- until 2015- should encourage us to take advantage of these currently low rates and borrow money to invest in a new custom home.  “That is sort of how the Fed policy of keeping rates low will stimulate the economy: by increasing the disposable income of households through refinancing.  And also by keeping interest rates low, it will make it easier for households to  buy new houses, which will stimulate the construction sector slightly,” says Bill Hampel, senior vice president of research and policy analysis and chief economist at the Credit Union National Association.

Almost 30 years ago interest rates were above 12% for a 30-year fixed mortgage and just 15 years ago they were in the 7-8+% range and less than 5 years ago you would of been thrilled to lock in a rate around 6%.  Today you are currently able to secure a 30-year fixed mortgage in the low 3% arena which is incredibly low and allows you to possibly borrow more than you might be able to if rates went back up to an average of 6+% range.  This chart shows trends of the national average mortgage rates on 30-year fixed  mortgages, 15-year fixed mortgages and 1-year ARMs since 1985, according to Bankrate’s weekly survey on interest rates.

Source: Bankrate.com

Shawn Tully, senior editor-at-large for Fortune, argued in a recent article that a severe shortage of new homes was also helping provide the foundation for a resurgence in both new home sales as well as prices.  Much of the data referenced was provided by Mike Castleman, chief of Metrostudy.  Castleman states, a major reason is the shortage of “ready to go” lots — with permits and basic site work in place — in good locations.  “The lots in top locations will all be gone by April of next year,” he says. 

Also recently, confidence among the nation’s homebuilders has risen to its highest level since June of 2006.  The National Association of Home Builders said its builder confidence index rose for the sixth consecutive month in October.  “Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year,” said the association’s chairman, Barry Rutenberg.  The biggest increase in the NAHB’s monthly survey of its members came in measuring traffic of prospective buyers, rising 5 points to its highest level since April of 2006.

Another indicator is the recent increases in the cost of core building commodities which also points to a sign of the steady rise in demand for new homes.  New home building costs have been under significant pressure and increases are already being felt in such construction components as concrete, lumber, steel, copper, sheetrock, roofing, and paint.  The increases for all construction materials are up 5% in the last year and are up a total of over 35% since 2004.  Added to this equation is the fact that labor costs have also been at historic lows not seen in decades during the downturn and workers are now also raising their prices with the upswing in hopes to finally make a sustainable and fair profit.

The Housing Scorecard, a comprehensive report on the nation’s housing market, continues to show signs that the housing market is strengthening.  Homeowner equity jumped by 5.9 percent to $7,275 billion in the second quarter of 2012.  After a sharp first quarter rise, total equity has grown to $863 billion, or 13.5 percent, since the end of 2011.  “As the September housing scorecard indicates, our housing market is showing important signs of recovery – with homeowner equity at a four-year high and summer sales of existing homes at the strongest pace in two years,” said HUD Acting Assistant Secretary Erika Poethig.  Another interesting fact that was pointed out in the Urban Land Institute’s 2013 Emerging Trends in Real Estate report is, “At some point, the sheer force of the expanding population (at 2 million to 3 million annually) will create demand for single-family homes, and any upsurge in housing will likely ripple positively through the rest of the real estate industry and the entire economy.”

So, these are the main reasons why I truly feel that now is indeed one of the best times to invest in a new Bella Vita Custom Home.  If you are thinking about building a beautiful new custom home, please visit or contact us and allow us the honor of showing you what we can provide for one of your biggest and most important investments.   Our team is confident you will realize and agree why we have so many appreciative Bella Vita Custom Home owners that typically only have one wish left after they move-in to their new custom home…

“We just wish we built with you sooner, but so thankful and happy we did.”

Live Beautifully,

Tony

Incredible turnout and response to Bella Vita Custom Homes Fall Show Home Tour!!!

Categories: News | Posted: October 11, 2012 | No Comments »

We had an unbelievable turnout at our Bella Vita Custom Homes Fall Show Home Tour this past weekend so a very warm Thank You to all who came out and made it such a fun time!  We hope you enjoyed it as much as we did; we really loved being so busy throughout the entire weekend.  We had an incredible turnout with over 300 excited Bella Vita fans come through our doors over the weekend.  Our guests were kindly greeted with a mimosa, gourmet coffee or glass of wine as soon as they arrived and then they were casually guided through the show home by one of our knowledgeable sales professionals.

Our younger guests enjoyed decorating pumpkins and playing in the courtyard, and the game room, and the media room… they were kept well entertained.  We also had some wonderful live music from our courtyard by Goga Denisov who was a big hit and received several well-deserved rave reviews.  Speaking of rave reviews… we honestly could not be happier or more proud of the overwhelming response from all of our guests.  Some of the most popular comments we repeatedly heard were; how beautiful and well done the interior design of the home was, how well our show home was appointed, the well hidden yet very desirable ‘secret lounge’, the great finish out and attention to detail, the constant disbelief of our estimated cost per square foot given the obvious quality and numerous upgrades throughout our beautiful show home.  Several of our visitors were so impressed after viewing the show home that they took an escorted tour of a few other gorgeous custom homes that we have completed or near completion in the area to attain a better sense of our wide array of styles and timeless design.

As I’m sure you can agree there’s nothing that really compares to actually seeing, feeling and touching a custom home to truly appreciate all it offers.  So, please don’t hesitate and come visit our beautiful show home on 6830 Waggoner Drive, Dallas, TX 75230 the next time you find yourself near the Preston Hollow area.  If you were one of the hundreds that were able to take advantage of our Fall Show Home Tour, you might still want to take another look or bring some friends and family to show-off the home to them as well so please feel welcome to return and do just that!  We certainly tried our best to ensure all of your questions were answered and we always strive to give our customers as much personalized attention as possible.  Our sincere apologies if we were not able to provide you with all the attention you deserve so please feel free to contact us and we will set up a private meeting to discuss your wants and needs.  If you would like to be notified about any future Bella Vita Custom Home events, please email me your contact information; tony@livingbellavita.com and I will add you to our preferred list to keep you informed of all our exciting upcoming events and parties.

Live Beautifully,

Tony

Bella Vita Custom Homes Fall Show Home Tour- This Weekend!!!

Categories: News | Posted: October 5, 2012 | No Comments »

Bella Vita Custom Homes Fall Show Home Tour

A raving referral from Mr. and Mrs. Rummer! Thanks from BVCH!

Categories: News, Testimonials and Referrals | Posted: September 26, 2012 | No Comments »

Working with the professionals at Bella Vita Custom Homes and seeing our dream home built to perfection has been a joy these past few months!  Their attention to detail and positive can-do attitude has made the process so easy and enjoyable.  Our new custom home turned out even more beautiful than we envisioned and we know it is because this company is customer-focused, using the most experienced crews and highest quality materials in their building.  We highly recommend Bella Vita Custom Homes!

Brad and Beverly Rummer

 

Another great testimonial! Thanks Level Properties!

Categories: News, Testimonials and Referrals | Posted: September 25, 2012 | No Comments »

Level Properties has the pleasure of saying that our experience working with Bella Vita has been nothing but a success. From start to finish the experience has been simple, professional, and better than expected. Most families considering new construction are always told to fear the worst but we at Level Properties can attest to the professionalism, access, and trustworthiness Bella Vita has provided our clients. There is nothing more important in real estate than having a strong relationship with builders. Bella Vita is at the top of our list.  Bella Vita is an amazing company and we would definitely recommend them to anyone looking to build a home.

 

Bella Vita Custom Homes Featured in “D Book”

Categories: News | Posted: January 2, 2012 | No Comments »

Check out Bella Vita’s feature article in D Magazine’s 2012 D Book!

Bella Vita Features Renowned Classical Guitarist at November 5th and 6th Event

Categories: News | Posted: October 21, 2011 | No Comments »

Goga Denisov is one of Dallas’ premier local artists.  He will be entertaining us for our Nov.5-6 event at the Preston Hollow Show Home. Goga started his performing career in 1999 when he moved to Dallas TX. Here he was introduced to the artists that helped shape his future style. Buddy Guy, Marvin Gaye and Barry White all had a different but consistent effect on Goga’s current sound. Today Goga does not sound like a particular artist instead it is a mix of several performers. Goga’s strength lies in his smoky voice that’s able to camouflage from one song to the other. Goga takes you to the emotional level of the song where words become feelings. On the stage it is fun to watch Goga get into the music. Goga is constantly creating new variations of the same songs, there’s always something new and interesting to see.   I Promise you will not be disappointed if you have time to stop by to listen to Goga, he is a real treat and we are very excited for our customers to hear him perform.

Exceptional Move-Up Program from TexHomes Realty and Bella Vita Custom Homes

Categories: Creating Value, News | Posted: October 14, 2011 | 1 Comment »

TexHomes Realty, providing expertise in real estate in the Dallas, Austin and Houston areas, has partnered with Bella Vita Custom Homes to offer an outstanding Move Up Program for those looking to begin Living Bella Vita.  Bella Vita Custom Homes are exceptional homes of elegance and quality – a superb blend of old-world charm, thoughtful design and modern day function.

With interest rates low, now is an excellent time to move up to a Bella Vita Home.  A TexHomes realtor, using the exclusive Maximum Value Home Selling System®, can often get 5 to 15% more for the home you are selling than a traditionally trained realtor.  As part of the Move-Up program, TexHomes Realty provides its exceptional market expertise and highest quality customer service to efficiently sell your home and facilitate moving up to a beautiful Bella Vita Custom Home!

TexHomes Realty and Bella Vita Custom Homes

Categories: News, Testimonials and Referrals | Posted: October 12, 2011 | No Comments »

At TexHomes Realty, we excel at providing extraordinary customer service, extensive market knowledge and exceptional attention to detail in real estate transactions in the Austin, Dallas and Houston areas.  When partnering with builders, we look for companies that exemplify the same level of excellence in design and construction.  When the opportunity arose to work with Bella Vita Custom Homes, TexHomes Realty was pleased and honored to be working with one of the best custom homebuilders in the Dallas, Austin and Houston areas.

A Bella Vita custom home is truly a work of art; masterfully crafted with old-world charm, unparalleled design and function, and unexpected and delightful details.  A Bella Vita home stands out in a crowded real estate market.  From a realtor’s standpoint, nothing is more important than making an outstanding first impression and each Bella Vita Custom Home is beautifully distinctive and unforgettable.

DALLAS - FORT WORTHCENTRAL TEXAS



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