March 30th, 2012
Even with all the positive news that is out there, there is still hesitation about whether or not now is the time to buy a home. The experts are weighing in. Investor Warren Buffet recently announced that he would invest in single-family homes, stating that if he had a way to manage them, he would buy a couple hundred thousand single-family homes and rent them out.
While investors are eager to buy up houses, they are also a good investment for the family wanting to move in and live in one. National trends still show that housing prices are falling, yet it is important not to put too much weight on these statistics since distressed areas heavily weigh down the national average price of a new home. According to a recent article, in many areas prices are actually rising. This is definitely true in the Washington, D.C. area.
Now is the time to buy a home. Waiting for prices to keep dropping is no longer a valid strategy, as they are likely to rise, not fall. Lock in prices and mortgage rates before they are out of your reach.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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March 22nd, 2012
Over the past year, there has been speculation that a complete recovery for the housing market is on its way. The truth is markets all over the country have been improving, including those in our area. According to a recent CNN article, we now have another reason to believe that a housing recovery is imminent because Phoenix, Arizona, where the housing crash began, is once again booming.
Phoenix has been one of the worst areas for housing for the past several years. Now, experts are reporting it is no longer difficult to sell a house in that area. Home sales are up 8% from a year ago and foreclosures are down 42%. Phoenix is currently experiencing a seller’s market with new listings lasting only a matter of days.
If one of the worst areas in the country is experiencing a boom in housing, can the rest of the country be far behind? All signs are pointing to a complete housing recovery in the very near future. Prince George’s County is already showing positive signs. In January, we wrote about how inventory levels in the county were at record lows. Since then, the numbers have continued a downward trend and are at the lowest level since March 2006.
With interest rates rising, there is no better time to buy a house than NOW. As time goes on and the housing market gets better and better, it will cost more and more to buy a home. Come and buy today and get your dream home before increased demand along with a shortage of listings causes prices to rise!
Posted by Stephen Paul Executive Vice President of Home Building Operations
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February 27th, 2012
The final settlement tally for 2011 in Prince George’s county has been released and we are one of the top ranked builders! With 59 closings, we are ranked third overall in the entire county! This is quite a feat for a small, home grown company. Roger Lebbin, President of Mid-Atlantic Builders, said, “We are honored by the many customers who have selected us as their home builder, without them this distinction would not have been possible.”
Even more impressive is that we were the number one selling private builder in Prince George’s County. NVR, Inc. and K. Hovnanian, Inc. were the only two builders who sold more homes than us but, they are both publically owned companies. This is exciting that we ranked so high in both categories since there were 14 builders in the county and the vast majority are larger, publically owned firms.
Being a private company affords us the opportunity to provide all of our customers with the highest level of personal attention. We help them take their designs and incorporate it into various aspects of their dream home. Thanks to the hard work of Mid-Atlantic Builders’ team, we were able to achieve this honorable ranking.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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January 23rd, 2012
Today is the Chinese New Year, and we are now entering the Year of the Dragon. But could it also be the Year of the House? A Money Watch article recently posed the same question and, according to the article, the answer is probably yes!
We can hopefully look forward to seeing housing starts and sales rise over the next year, as we work our way up from rock bottom as the year goes on. The article also recommends not waiting for “rock bottom”, as it seems that day has already come. The longer that you wait, the greater the chance that you’ll miss out on the excellent deals that are currently available.
I hope that everyone enjoys ushering in the Year of the Dragon and, hopefully, the Year of the House!
Posted by Stephen Paul Executive Vice President of Home Building Operations
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January 20th, 2012
Earlier this week, we talked about how it looks like we will be experiencing a housing recovery in 2012. We have found another sign indicating that this is true — home inventory in Prince George’s County is at the lowest it has been since June 2006!
As you can see in the graph, inventory typically follows a pattern of ups and downs. However, in Prince George’s County there has been a downward incline for almost a year. Inventories have been decreasing since February 2011. Prince George’s inventory is also nearly 4,000 units lower then at its peak in August 2008.
The low inventory of homes in the area is an excellent indicator that the market is recovering and setting a foundation for future sales growth. As inventories lower, home prices will start to rise. The strategic buyer will look at this data and respond by purchasing their new home today so that they can lock in low prices and mortgage rates.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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January 17th, 2012
The beginning of the year is always an exciting time. It is a time to look forward to what the next year is going to bring. This year looks like we have many reasons for optimism. In a recent blog post on WashingtonPost.com, Ezra Klein talks about how he thinks that we may see an upturn in 2012 for the economy. There are promising early signs that bode well for the year to come.
Klein quotes a Wall Street Journal article that lists a couple reasons why we can look forward to a positive 2012. Lower unemployment, consumer spending, and the housing market are just a few of the reasons for his optimism. Lower unemployment rates not only raise the incomes that people have to spend, it also increases confidence, which causes spending to rise. This is an excellent sign for the economy. Another positive sign is that mortgage rates, which are at historical lows, and rising consumer income will cause an uptick in housing prices. Also, many investors are starting to acquire distressed housing units and predict that the housing market is going to be on the rise in the next year.
A Forbes article also predicts a housing recovery. According to the article, several research firms are predicting that if the housing market has not already hit bottom, then it will very soon. The Zillow Real Estate Market Report indicates that home sales in 2012 will be more consistent and frequent. Clear Capital, a real estate research firm, predicts that home prices in the Washington, D.C. area will not only stabilize, but RISE over the next year. They think that the area will experience a 9.3% price hike!
All of this, especially the predictions for the housing sector, is great to hear, and I hope it all comes true. Smart buyers are the ones who will take this information and use it to their advantage by purchasing a new home.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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December 30th, 2011
Credit: Creative Commons
New Years is always very exciting. We get a chance to reflect on the highs and lows of the past year, as well as look forward to what we want in the next year. 2012 is a year of possibilities and I am personally very excited.
There is positive news from economists that the sluggish housing market is going to pick up the pace and more and more people are going to be buying homes. This is one thing that I find very exciting for the New Year. We are continuing to evolve our product with creative new ideas and energy efficiency measures. I look forward to refining things even more as 2012 comes. I am also looking forward to building relationships with the people of our communities and working with our dedicated staff, suppliers, and contractors.
On behalf of the entire Mid-Atlantic Builders’ family, we hope that the next year is full of good things and we wish you a happy and healthy 2012.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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December 27th, 2011
As the New Year approaches, it is time to start thinking about what lies in store for us in the coming year. Now is the time to start thinking about any big decisions that you could be making so that you can plan ahead.
If buying a new home is something that you envision for 2012 then now is the time to start getting organized! Home prices and interest rates are forecasted to steadily rise as the year goes on, so early into the year is probably the best time to lock in great prices and low interest rates.
Come in and visit us at any of our communities in January after you are rested from the holiday season. Our sales counselors will be on hand to help you see that a Mid-Atlantic home is an excellent choice for you to make this year.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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December 23rd, 2011
Credit: Creative Commons
This time of year is always festive. Store fronts are decorated and lights shine throughout the neighborhoods. But, the most important sign of the holidays is what traditions are carried out inside the home.
Whether it be decorating your house from top to bottom, or a gathering of family, we each have our own special way of marking the holiday season. I am happy that Mid-Atlantic Builders is able to provide homes for the holiday festivities. But it is the people who live in the houses we build that really make my holiday season. They take the house that we build and truly make it a home. It makes my holiday season brighter knowing they make our homes a part of their holiday.
On behalf of myself and the whole Mid-Atlantic Builders family I would like to wish you and your loved ones a very happy holiday season. May you all enjoy your celebrations.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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December 21st, 2011
Last week Mid-Atlantic Builders participated in the annual Holiday Toy Drive of the Home Builders Care Foundation, a non-profit community outreach & charitable construction program affiliated with the Maryland National-Capital Building Industry Association (MNCBIA). Builders who are part of this Association participate in the Toy Drive to benefit children in the area who are in need of toys, games, and clothing. This year’s annual drive benefited the youth at St. Ann’s Infant and Maternity Home in Hyattsville, Maryland, and within days, Mid-Atlantic’s collection box overflowed with items.
On December 15th the gifts were taken to the Home Builders Care Foundation at MNCBIA’s Annual President’s Luncheon. Many other local builders delivered similar boxes full of items on St. Ann’s “Wish List”. We are proud to be part of this worthy drive and that the Mid-Atlantic family was able to donate so many gifts for children in the area who otherwise might not have had them. We hope we have helped make their holiday special.
Posted by Stephen Paul Executive Vice President of Home Building Operations
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