National Market Watch
Bernard Markstein, VP of Forecasting and Analysis for the NAHB gave NAREE attendees an update on the state of the market today. He compares 2004 and 2005 to a big party with 2006 as its wake up call. Much like a bad hangover, builders are still feeling the waves of nausea that have resulted. Markstein states that the market is in the process of bringing supply and demand into balance and that it will simply take a bit more time for the market to correct. The curent 2007 outlook predicts that the new homes market is heading back to a normal slow growth market — not the previous wild party of 04 & 05.
The good news is that the national economy is in fairly good shape with real estate causing most of the slow down. Employment growth is predicted to be 1.3% this year. As the market works off the existing inventory of new homes the housing market should stabilize with improvement starting in Q4 2007 and Q1 2008.
Other continued economic concerns include affordable housing, the condo market and the subprime mortgage market — all things that savvy builders and new home buyers should watch.
Greater Atlanta Home Builders Association hosted a press conference earlier today on the state of the Atlanta housing market. I hope to post a report from this event on the blog tomorrow.
Carol Flammer is President of Flammer Relations, Inc. an Atlanta area Public Relations firm specializing in real estate, business to business and nonprofit clients.
Outdoor Living is HOT even in Cool Climates
Homeowners are adding outdoor spaces to their homes that are much more like indoor living areas. From outdoor kitchens to outdoor living rooms, buyers are spending time outdoors with friends and family while entertaining. Angelo Surmelis, host of 24 Hour Design on HGTV says, “Homeowners are creating spaces outdoors even in cool clients, and finding ways to use them all year long. At a recent NAREE session on remodeling trends, Surmelis shared the story of some friends of his in Chicago that created a wonderful outdoor area that they enjoyed using year-round thanks to some amazing outdoor heaters. This is just one of many examples of homeowners taking a trend typically seen in warm weather climates and finding creative solutions for implementing it across the country. (Continued…)
Jenny Pruitt New Homes Services Brings Smiles to Patients at Children’s Healthcare of Atlanta
Jenny Pruitt New Homes Services recently donated more than 200 new teddy bears to Children’s Healthcare of Atlanta’s Scottish Rite campus in honor of Fernwood Creek homeowners George and Nancey Enell. The Enells are very passionate about volunteering with terminally ill and sick children. For the past 20 years, Nancey Enell has volunteered with the Make a Wish Foundation in both California and Florida and has worked with neonatal patients at hospitals in California. When Enell approached Jenny Pruitt New Homes Services about donating to CHOA, they were honored to help.
Pictured are George and Nancey Enell, left, giving a teddy bear to Children’s Healthcare of Atlanta petient 4-year-old Nolan Sanders from Cumming with the help of Jack Burruss, Vice President Sales and Marketing for Jenny Pruitt New Homes Services.
Stonewood Creek Model Opening to Feature Food from Varsity Drive-In
Most people raised in the Metro Atlanta area are aware that the words “What’ll ya have?” are synonymous with the famed Varsity Drive-In, the scene of many a pleasant dining experience. Those persons who choose to visit the model home Grand Opening on Saturday, June 30, at Stonewood Creek can revisit that experience, as the food will be catered by The Varsity. Food being served from noon until 2 p.m. that day from The Varsity catering truck will be cooked fresh on the spot and will include the hot dogs, hamburgers, fries, and onion rings served at The Varsity’s drive-in locations. (Continued…)
Friendship Real Estate Offers New Incentives at Millside Manor in Gwinnett County
Friendship Real Estate Services is now offering home buyers a $10,000 Buyer Bonus to be used toward closing costs or upgrades when purchasing select inventory homes at Millside Manor, a community of 71 brick homes priced from the low $200,000s. Not only are they offering this great incentive, but they are also allowing home buyers to choose their own paint colors in various rooms. For more information, call 678-714-8855 or visit www.FriendshipLiving.com.
