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“New Home Sites Available in Chestnut Ridge Village”

Forbes Capretto Homes is delighted to announce the availability of new home sites in the Orchard Park community at Chestnut Ridge Village.  This community offers deep, spacious home sites while maintaining a neighborly feel. Bordered by woodlands and nearby to the countless conveniences that the Village of Orchard Park has to offer, this neighborhood is both peaceful and functional.

A limited number of select home sites are now available.  Prices start from the $299,900, including land.  Homeowners can choose from a wide range of ranch and two-story home styles, each of which can be fully customized to meet the homeowner’s specific needs and personal style.

To tour this community; coming from Jewett Holmwood, go south on S. Buffalo, continue onto Chestnutridge Road, turn right onto Breezewood Drive.

For more details about Chestnut Ridge Village, please call Katie Gray at (716) 243-6994 or visit our model home at 6 Holly Ridge Lane by taken 20A to Baker Rd, Right on Braunview, Left on Silent Meadow, and Left on Holly Ridge Lane. (Open 1-4pm, Saturday and Sunday).

Forbes Capretto Homes builds custom homes in the most desirable neighborhoods or on your own land.  Visit us online at www.forbescapretto.com for virtual tours, floor plans and community information.

 

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New-Construction Homes Are Built For Practicality

New-Construction Homes Are Built For Practicality says
Debbie Arrington of Hartford Magazine. Buyers of new-construction homes are coming back, but they don’t want the same old McMansion. They want a house they can use. Read more athttp://www.courant.com/hartford-magazine/home-living/hm-nhl-new-construction-homes-are-built-for-practicality-20140617,0,5740029.story

New-Construction Homes Are Built For Practicality

Buyers of new-construction homes are coming back, but they don’t want the same old McMansion. They want a house they can use.

That means a great room where everyone can gather — and a spa-like bathroom to escape from the crowd.

Usefulness also extends to lots of storage space for big-box buys. It means drop-off zones for recharging smartphones and pet-friendly  “puppy showers.” It means a home office designed for work and media centers made for play. It means big closets and little nooks.

These new homes combine practicality with the way we want to live now, builders say.

People want to feel connected to their family as well as to their media. They also want to feel connected to the great outdoors, with windows everywhere and patio rooms that look like their indoor counterparts.

According to experts, home buyers are much more budget-conscious, a natural consequence of the recession.They demand more value per square foot. They’re not interested in rooms, such as a formal dining room, that they will rarely use. Most of all, home buyers want a house that “works”for them.

New homes have the space for everything, but it’s a matter of how to use that space.

In 40 years, new homes have grown substantially nationwide. The average new home in 1973 measured 1,660 square feet. In 2007, the national average hit 2,521.

Although construction came to a virtual standstill during the recession, home size slipped only slightly. The average new house measures 2,480 square feet.

A midsize home is considered from 2,500 to 3,000 square feet. According to census statistics, about 20 percent of new homes fall in that category. Almost 20 percent fit the 3,000- to 4,000-square-foot range. An additional 7 percent top 4,000 square feet.

The most popular new-home size — 1,800 to 2,400 square feet — accounts for 27 percent of new homes, but that also includes townhouses and other attached dwellings, as well as single-family homes.

Great rooms are the No. 1 requested feature among current new-home buyers, real estate experts say.

One kitchen/great room combination had a layout that could double as a small restaurant. The L-shaped area had space for three dining sets — one adjacent to the kitchen, another for more formal gatherings in the living area and another near a media wall that could double as a game table. A 14-foot island separating the kitchen from the great room served as a buffet and breakfast bar. Every eating area afforded views of the media wall, anchored by a 70-inch flat-screen TV.

This great room, meant for entertaining, can hold a crowd. At a recent community event, 75 people gathered in this space.

Besides the great room, the women pointed to other thoughtful touches, such as mudrooms and drop zones, located near the entrance doors and designed to encourage organization.

Other thoughtful highlights: a home office near the front door (convenient for deliveries) and state-of-the-art smart technology to keep the home running as efficiently as possible.

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“The Art of Place Making in Buffalo”

“The Art of Place Making in Buffalo”

Congress for the New Urbanism
cw23.com
Lauren brought you some info. earlier in the week about the CONGRESS FOR THE NEW URBANISM that is happening right now in Buffalo. Matt headed down to Canalside to sit down with a few visiting members and the president of the congress to learn why they chose Buffalo for this…
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Summer buying season in bloom


    Summer Buying Season in Bloom                                        Posted:                                         |

The summer home buying season is in bloom and a troubling trend might be taking shape.

Home prices continue to appreciate at different rates, depending on the price point.

It does not bode well for anyone looking to buy their first home because housing affordability is now heading down hill.

During April, the lowest-cost third of the region’s housing stock saw a 20.6 percent year-over-year increase in the median price paid per square foot for resale houses, according to La Jolla-based DataQuick.

The annual gain was 17.1 percent for the middle third of the market and 9.6 percent for the top, most-expensive third.

 

That has an impact on sales, the company noted in its April market report released this week.

Last month the number of homes that sold for $500,000 or more increased 9.3 percent from one year earlier, while $800,000-plus sales rose 5.8 percent. Sales below $500,000 fell 11.4 percent year-over year, while sales below $200,000 plunged 35.1 percent.

The latter is not surprising because a home costing less than $200,000 is now rare in a market where the median price was $404,000, according to DataQuick.

 

“Luxury sales are not a problem now. The higher you go up the price ladder, sales are up,” said DataQuick analyst Andrew LePage.

In April, 35.1 percent of the 20,008 sales in the six county region were for properties costing $500,000, up from 30.5 percent a year earlier.

That’s because investor activity is drying up as distressed properties continue to be flushed out of the market. Absentee buyers— mostly investors and some second-home purchasers — bought 26.1 percent of the homes sold last month, which is the lowest share since November 2011, when 25.1 percent of homes sold to absentee buyers.

 

Foreclosure resales accounted for 5.9 percent of the Southland resale market in April and short sales had a 5.4 percent share.

Collectively, this is not good for the region’s housing affordability picture.

During the first three months of this year 31 percent of households could afford the median priced home, down from 42 percent a year ago, according to the California Association of Realtors.

In San Bernardino County affordability slipped to 63 percent from 72 percent a year earlier.

Prices have been in the same general range since May of 2013 and a smaller annual percentage gain may show up when this month’s numbers are crunched.

 

“There’s still pressure on home prices but it has moderated,” LePage said.

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New Homes are Less Expensive to Maintain

April is new homes month. And one of the virtues of a newly constructed home is the savings that come from reduced energy and maintenance expenses.

In a previous analysis, we used data from the 2009 American Housing Survey (AHS) to offer proof. The AHS classifies new construction as homes no more than four years old.

For routine maintenance expenses, 26% of all homeowners spent $100 or more a month on various upkeep costs. However, only 11% of owners of newly constructed homes spent this amount. In fact, 73% of new homeowners spent less than $25 a month on routine maintenance costs.

Similar findings are available for energy expenses. According to the 2011 AHS, on a median per square foot basis, homeowners spent 81 cents per square foot per year on electricity. Owners of new homes spent less: 68 cents per square foot per year. For homes with piped gas, homeowners spent on average 50 cents per square foot per year. Owners of new homes spent just 34 cents per square foot per year.

The 2011 data show similar results for various other utilities. For water bills, homeowners averaged 28 cents per square foot per year, while owners of new homes averaged 22 cents.  For trash bills, the median for all homeowners was 15 cents per square foot per year, while for new construction the median was 13 cents per square foot per year.

These data highlight that a new home offers savings over the life of ownership due to reduced operating costs. And in fact, these reduced costs result in lower insurance bills as well. The median cost for all homeowners of property insurance is 39 cents per square foot, while it is only 31 cents per square foot for owners of new homes.

These reduced expenditures represent one of the many reasons that the current system of appraisals needs updating to reflect the flow of benefits that come from features in a new home.

Source: http://eyeonhousing.org/2014/04/17/new-homes-are-less-expensive-to-maintain-2

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