The Builder’s Showcase supplement in the Idaho Statesman often carries important news and insights about the local and national industry. I am pleased to be featured in the March 6, 2010 edition with some discussion about the advantages of buying new and how the current glut of homes on the market has still resulted in surprisingly few cases where buyers find what they are really looking for.
You can click on the hyperlink to see the complete story and I have included the text below.
By Dusty Parnell
As nature comes back to life with the coming of Spring, it appears the local real estate market may also begin to come to life again.
“There are distinct signs that things are afoot,” says Ted Mason, who has been building homes in the Treasure Valley for 19 years. “We’re building all over the valley again.”
It’s definitely still a buyer’s market out there, but Mason says it’s not with all the foreclosures, short sales and bank-owned distressed properties.
“They are being picked over and picked over and picked over by every realtor, buyer, investor, bottom feeder and blood-in-the-water person there is in the market,” he said. That means the chance of buyers finding exactly what they want are “very slim.”
Meanwhile, there is a lot of pre-sold activity going on — and for good reason:
“The homes being built today are being built to a higher standard than many of those homes,” Mason said. “Interest rates are low, lot prices are low, and costs of construction are excellent. You can get exactly what you want, exactly where you want. That’s the trend.”
On top of that, you get a brand new home with warranties and no deferred maintenance to worry about. And in this economy, builders and prices are extremely competitive.
Plus, many of today’s homes are built to Energy Star standards, “which will save you 30 to 35 percent forever” in utility costs. And anyone who has been looking at the housing market these days will find that “upgrades” have now become the “standard.”
“We, as builders, are able to offer more because of the lower construction costs,” Mason said. “Now is the time to build. I’ll say that over and over again all day long. As the economy improves, prices are only going to go up.”
Building your own home is not a long, grinding process either. You can be in your new home in 120 days and planning your housewarming party. And it will be a home designed just for you and a home that will last you far into the future.
“Buyers are looking for well-designed, efficient homes, and it’s not just about square footage anymore,” Mason said. “It’s not about impressing anyone, it’s about building what people need. People want a warm and cozy feel — a place where family gathers.”
Homebuyers more involved
Although you’ll always be able to buy an off-the-shelf home, the trend for the future includes more options and more involvement in the building process for the buyer.
Buyers are also getting a lot more personal attention and customer service these days. “It’s a very personal thing now,” Mason said. “Builders that are still around have a niche they’re good at, and they will continue to be around.”
Plus, homebuyers have become more knowledgeable and more decided in their needs. “Homebuyers are getting more involved with the creative process,” he said. “They’re feeling more empowered with the design of their home.”
That’s one of the reasons Mason developed Home Central in one of his model homes in the Hightower subdivision.
“We wanted a place where prospective buyers could come and get a feeling of what’s available throughout the valley,” Mason said. “We thought we’d offer people a place to come to one location and just explore — and dream.”
The main focus of Home Central is a simple worksheet. There’s no hard-sell going on here. It’s just a way to help buyers visualize their needs into a plan. Sit down at the kitchen table or one of the sofas, relax and think about the house you want to live in. By the time you walk out of the house, you’ll have a clear idea of what your dream home will be like.
You’ll ponder large charts on the wall comparing the amenities of a variety of subdivisions. The master bedroom has been set up with an entire wall of various interior finishes and flooring ideas. The idea is not to force you into one of those finishes, but to inspire you with all
the different possibilities.
But it’s the worksheet that will help clear a lot of the clouds away and bring your dream home down to earth.
The first section helps you focus on where you want to live in the valley. The next section zeroes in on what amenities you’d like in the community you choose.
Next, the worksheet helps you come to terms with a floor plan, your lot and the style of your home. The list is long, and you’re going to hash this out with your spouse at some point, so why not figure it out before you even get started?
The idea has proved to be very popular, and you might even find Mason there to answer questions.
“I was there on Saturday, and there was a steady flow of people,” he said. “There are great custom choices today. It’s never been better.”
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Tags: dream, home, Idaho Statesman, process, Ted Mason, today
