new construction
Construction Spending Report for July 2011 Less Than Exciting
Earlier this month, the U.S. Census Bureau of the Department of Commerce released new data regarding construction spending during the month of July 2011. As is the case with the majority of housing and construction data that we’ve encountered in …
U.S. Non-Residential Construction Decline An Important Economic Indicator
Anirban Basu wants the public to pay more attention to U.S. non-residential construction. “These non-commercial projects are how countries are judged,” he said, during our recent conversation about how non-residential construction, anything that is not housing, which includes roads, schools, …
Dirty Jobs’ Mike Rowe Goes to Washington, Testifies before Senate
Mike Rowe, host of the Discovery Channel’s TV program Dirty Jobs with Mike Rowe, testified before the Senate Commerce, Science and Transportation Committee’s hearing on “Manufacturing Our Way to a Stronger Economy” on May 11, 2011. Rowe spoke in support …
Property Tax Estimate May Differ For Builder and Buyer
Property tax estimate may differ for a builder and a buyer of a new home. Builders estimate property tax of new construction homes different than buyer and real estate agent estimate property tax on new construction home. Builders pay less property taxes on underdeveloped property than buyer pays on underdeveloped property. Real estate taxes that are too low happen when property tax estimate differs for builder and buyer. Work with a real estate agent when buying a home to avoid incorrect property tax estimates from builders.
Should You Buy A House After Bankruptcy?
Should you buy a house after bankruptcy? Is it dangerous to buy a home after bankruptcy? Buying a house after bankruptcy can hurt your credit history. It can be impossible to find a mortgage lender if you buy a house after bankruptcy. After bankruptcy you should wait to buy a house. Buying a home after bankruptcy takes time.
Find A Good Builder For New Construction Home
Trying to find a good builder for a new construction home? Finding a good builder is important because you spend a huge amount of time with a builder and put complete trust in them to do build your new construction home. Selecting a good builder is the first step in a new construction project, you should also hire a good real estate attorney with experience in new construction contracts.
Home Warranty On New Home May Not Exist
If you’ve just bought a newly constructed home, you should have received a home warranty from the seller. In some cases that home warranty will be a long document, while in others it may be a one page document. In some states, you get the warranty from the builder whether he gives you something in writing or not.
Condo Association Fees, Dues, Lawsuits Can Strain A New Buyer
If you’re living in a condo, you will have to deal with the condo association and all that comes with it, including condo association fees, dues, meetings, rules, and if the condo association gets involved in a lawsuit, it can become even more complication. Especially if you’re a new buyer, you should receive disclosure about any lawsuits the condo association is involved with before you buy. If you do not request or receive such seller disclosure, you may be able to get out of paying some costs, or get out of the sale itself.
$8000 First Time Home Buyer Tax Credit and Closing On New Construction
If you are buying a home as a first time home buyer or repeat buyer, the extended $8000 credit or the expanded $6500 credit should be of interest to you. But you need to be careful with timing. If you close too late, you might not be entitled to the credit. You must close and move into your new home before the tax credit expires. If you’re still working on construction by the time the home buyer tax credits expire, you will not qualify for the $8000 first-time home buyer tax credit or the $6500 trade-up buyer tax credit.
Home Buying Risks, Pitfalls and Tips For New Construction Homes Part 2
Home buying has risks associated with it, particularly the purchase of a new construction home in a new development. There are pitfall all along the way. What should you do to protect yourself? How do you handle the uncertainty of buying a new construction home in a new development? One reader suggests that the buyer should share any risks in that new construction purchase with the lender that give the buyer the loan. Would you agree? What about municipal inspections and certificates of occupancy? The builder’s or developer’s reputation? What about using a real estate attorney? Leave your comment below.
