New Mandeville Subdivision Near Archdiocese Land

Brentwood Land Development LLC of Mandeville plans to build a new subdivision off Sharp Road near Mandeville.  The new community is slated to bring 103 new homes to the area.  The 104-acres, just south of Most Holy Trinity Catholic Church, is under contract and is presently owned by the Archdiocese of New Orleans.

The land is currently zoned A-1 but a request has been approved by the St. Tammany Parish Zoning

Commission to change the zoning to A-2 with a Planned Unit Development (PUD) overlay in place.  A-2 zoning will allow one home per acre and the PUD overlay will sanction for smaller lots with 25% of the land used as green space.  The developers plan to keep 66% of the tract green space which honors the New Directions 2025 land use plan. The new project proposes one home per acre which is less than most subdivisions which are built along Sharp Rd. Brentwood Land did a study that revealed the density in 450-acres of subdivisions in the area is two homes per acre.

Traffic and drainage, two issues that have many residents concerned over, have been addressed by Brentwood Land. The drainage from the new community should be 25% less than what is currently draining from the site. Attorney Jeff Schoen, who represents the archdiocese and Brentwood Land, supports that the home builder’s drainage report is currently being completed and the traffic study which was completed this summer support that the subdivision would not have a huge impact on these two concerns.  “This subdivision should have a place along Sharp Road,” Schoen said.
This new community will have a great impact on the New Orleans area real estate market.  The builders plan to construct 36 new houses on estate-size lots that are priced from $400,000 to $450,000, 17 smaller new homes priced from $350,000 to $400,000 and 50 new construction garden homes priced from $325,000 to $350,000.


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Supply & Demand Drives Home Pricing

One of the key factors to success in any kind of business is supply and demand. The National Association of Realtors (NAR) agrees that this principle has boosted home pricing in the current housing market. NAR’s chief economist Lawrence Yun believes the housing market is still going strong because of the lack of inventory even though data shows a modest growth rate reduction.
Yun states,”…with homebuilding activity still failing to keep up with demand and not enough current homeowners putting their home up for sale, prices continued their strong ascent – and in many markets at a rate well above income growth.”
In the second quarter of last year the peak existing single-family home price was $229,400, this year however, the second quarter single-family home price has risen 4.9% with a median single-family home price of $240,700.

According to NAR findings, new construction cannot keep up with the demand for new homes.  In the second quarter this year 40% of the listings sold over their listing price. “Many listings in a majority of markets – and especially those in lower price ranges — had multiple offers and went under contract quickly because of severely inadequate supply,” Yun added.

This coupled with low mortgage rates have many potential home buyers wanting to purchase a new home now.  In the Northeast region there was a 7.6% increase in existing homes sales and the median home price increased to $273,600. The Midwest, though not as high of an increase, was 10.4% in total existing-home sales with a median price of $191,300. The West came in next with a 1.4% increase in total existing-home sales with a median home price of $345,500.  The South came in last with a 0.3% increase with a median home price of $214,900.

Whether you are in the market to sell a home or purchase a home, now is the right time.  The housing market is holding strong and is a great investment for your money.  Locally in St. Tammany Parish, Ron Lee Homes, a new home builder in Covington, Louisiana, is building new homes for sale as well as completely custom homes designed completely from your vision of how you would like your new home to be.  We have been keeping a steady pace of new construction for the past 2 years, and we are constantly meeting with new custom home buyers as well as buyers who are looking for homes to buy immediately.  If you are interested in building or buying a new home, Contact Us at 985-626-7619 or E-mail Info@RonLeeHomes.com.


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Land in Louisiana Still Available for Building One-Story Homes

New Orleans is a big city with many surrounding suburbs, and even though it is a populous area, there is still a lot of land in Louisiana on which to build.  The area is less dense than many cities across the country with very little land constraints.  No wonder the US Census Bureau’s Survey of Construction (SOC) reported that in 2015 that single-story new construction homes in Louisiana were the highest in the nation.

The SOC is a monthly and annual report that is organized by the National Association of Home Builders (NAHB) that surveys important information corresponding to the homebuilding industry.  Examples of data gathered include start and completion dates of new homes for sale, new homes sales prices, square footage of new houses and the number of bedrooms in new homes built. The SOC is an important factor in determining where the country’s economy stands.

Nationwide the data found that 58% of new construction houses built in 2015 were two or more stories and 42% were one story.  The country is divided between ten divisions, Pacific, Mountain, West North Central, West South Central, East North Central, East South Central, New England, Middle Atlantic, and South Atlantic. In the Pacific division 69% were two or more stories, in the Mountain only 47% were two or more stories, in West North Central 52% were two or more stories, in West South Central only 45% were two or more stories, in East North Central only 49% were two or more stories, in East South Central 58% were two or more stories, in New England 84% were two or more stories, in Middle Atlantic 80% were two or more stories and in South Atlantic 66% were two or more stories.

The Northeast had the largest number of two or more stories being built in 2015 due to high density with little land which made lot prices very expensive.  Luckily Louisiana which is in the West South Central division has reasonable lot prices making it an attractive place to buy a lot and then build a new home.  If you happen to live in St. Tammany Parish in Southeast Louisiana, Ron Lee Homes, a new, custom home builder, designs and builds new homes to your specifications on lots that we own, lots that you own, or lots that you may be interested in buying.  Land in local subdivisions is plentifully available for new home buyers interested in building their own home.  We can even make recommendations as to where you might want to build depending on your life situation, finances, and housing requirements.  Contact Us Today to get started talking about building a new, custom home on a local homesite.  Call 985-626-7619 or E-mail Info@RonLeeHomes.com.


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NAHB Works with Congress to Help Low-Income Housing Laws

Without the help of the country’s federal government, many Americans could not see homeownership in their future.  The National Association of Home Builders worked with the House of Representatives and the Senate to pass a bill in Congress that would facilitate the chance for low-income Americans to become homeowners.  On July 29, 2016, the President signed The Housing Opportunity Through Modernization Act which consists of several reforms which will increase access to affordable rental housing, provide assistance to low-income renters and facilitate homeownership.

There are many facets to the bill which is now a new law.  In the past voucher holders had no chance in competing with market-rate renters.  Because of red tape in the inspection process, voucher holders were not able to move into a multi-family unit such as an apartment or condominium immediately.  Now with the new law inspection requirements in the Housing Choice Voucher Program are more efficient and allow a quicker approval.

The contract terms of HUD’s Section 8 Project Based Housing Choice Voucher program is now 20 years instead of 15 which enables project-based vouchers to be used with the Low Income Housing Tax Credit residences.  Voucher holders will now be protected from economic influences that are out of their control, which means that when the market rental rate goes up, voucher holders will not have to be displaced because their payments are not high enough.  This also allows property owners to preserve respectable renters.

The Rural Housing Service Single-Family Guaranteed Loan Program will also be updated to compete with other government loan programs.  This will allow more low-income renters to actually be able to get a home loan.

FHA regulations that are enforced on existing condominium projects have been reduced.  This means that the purchase of a condo will be less stringent in terms of required owner occupancy for the buyer.  Buyers will now find it easier to purchase multi-family units for rental purposes, creating more rentals in the market.  Also, condo owners who are able to sell will then be able to move up to a single family detached home, if they would like.

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NAHB States Homeownership Is One of the Highest Investments

According to over 80% of Americans surveyed by the National Association of Home Builders (NAHB), homeownership is one of the highest and best investments in not only a financial future but also an emotional and mental future as well.  Home provides security in investment, security in living (the physical walls of the home), security in family (many couples dream of owning a home to rear their children), and security in equity in the future.  Homes are one of the largest financial investments that can be made that will absolutely return money to a homeowner in the form of equity loans that can be taken out of the house.

Most everyone has heard of the “American Dream” and Leonard Boswell, former U.S. Representative, described it best when he said, “The American Dream is one of success, home ownership, college education for one’s children, and have a secure job to provide these and other goals.” The (NAHB) believes this still holds true in today’s current housing market.   According to a polling done in July on over 2,800 registered voters “…..most Americans believe that owning a home remains an integral part of the American Dream and that policymakers need to take active steps to encourage and protect homeownership,” said NAHB Chairman Ed Brady.

The polling was done to explore the American peoples’ perspective on homeownership, housing production, and government programs that assist in homeownership.  Four out of five Americans still factor homeownership into the “American Dream’” believing it is still a worthy investment.  The key outcomes of the study were as follows: 82% of Americans feel that owning a home is the highest of investments, 81% of 18-29 year old Americans are planning to purchase a new home, 72% agree that the government providing tax incentives help fuel homeownership, 46% feel that now is a good time to purchase a new house and 36% of the Americans surveyed planned to purchase a new home within the next three years.

So with that said, homeownership is still a big part of the “American Dream” and to end with another quote, Maya Angelou describes homeownership as this, “The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.”

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Lot Values Rise at Record High Rate Nationally

With half as many homes being started before the Recession, a new record has been set for lots for sale.  Not since 2006 has the cost of a lot exceeded its highest amount of $43,000, but in 2015, the average cost of a lot was $45,000, which is a record high for lot sales.  Lot values indicate an appreciation in the investment of real estate nationwide.  It is another positive indication of the recovery of the housing market, and it also allows builders to be able to value the new homes they build at higher prices as well.
One of the reasons for the increase in lot values is that there is actually a shortage of lots for sale according to the National Association of Home Builders (NAHB).  This lot shortage seems to be a nationwide problem as the land is available, but developed lots are scarce.  Thanks to the regulatory costs which are going up at a significant rate, ultimately this translates to a rise in development costs.  The work to develop new lots for sale costs more and thus boosts the cost and value of the lot.


Another factor is that the land that is being purchased for development is trending closer to denser urban areas.  These areas typically have costlier land because of their location and proximity to the city.  Many areas of St. Tammany Parish are located close to shopping, dining, and entertainment hubs – some of which are brand new.  Shopping districts around Covington have increased exponentially in the last 8 years requiring a large amount of road construction, expansion, and renovation in order to handle the increase in drivers and traffic.

Luckily, there have been large tracts of land that were zoned residential or had zoning changes to accommodate residential construction close to Covington.  These new subdivisions and neighborhoods have been built with the distinct advantage of having lots and homes for sale that had easy access to an unusual amount of social and retail locations that would not typically be associated with quiet, country, bedroom community new home communities.  Lot values in the St. Tammany Parish area can be higher than the national average, but they come with amazing community amenities as well as location amenities.  There are many new communities springing up in St. Tammany Parish, and Ron Lee Homes, a custom home builder can design and build new custom homes on your lot or on a lot you purchase.  Contact Ron Lee Homes Today by calling 985-626-7619 or E-mail Info@RonLeeHomes.com.

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What to Know About Researching Your Loan

An article written on a popular website begins with the assumption that you, as the home buyer, are aware that you have the choice to shop your lender.  So let’s start there with the discussion of what you should be learning from the company which is going to be lending you money for what could be the most important investment of your life.

Researching Your Loan

As a home buyer, you have the right to shop your mortgage.  You can and should contact as many lenders, banks, and / or mortgage companies as possible and ask them the costs on application fees, appraisal fees, and the breakdown of your closing costs.  Specifically with your closing costs, you will want to check to see if they are a mortgage broker or if they are the company that has the underwriter who will approve your loan.  A mortgage broker can incur additional fees on top of your loan origination fees. When you contact your lender, you are going to be asking them what their loan origination fees are.  This is a way to “weed out” any unknown loan companies which may have higher fees.

Know Your Title Company

You, as the home buyer, do have some say in the title company that is used by the lender.  The lender works with specific title companies, therefore sometimes gets a better rate that you would as an individual.  However, if you are interested in cross-checking their rates, you can get quotes from title companies as well to make sure that you are not overpaying for those services.

Another big chunk of your closing costs is the cost of your escrow account, if you are doing one.  There is a deposit into your escrow account that is for your taxes and insurance.  If you haven’t yet shopped for the most competitive rate for your homeowner’s insurance, you should definitely do that before you choose your lender or title company.  Your insurance rate accounts for the amount of money that is added to your loan each month in order to pay your annual premium.  The better the rate, the lower the deposit and the lower monthly payment.

On the flip side, you should find out if there are any credits available to you depending on the type of loan that you are getting.  Some lenders are authorized to credit up to a certain amount of money depending on the loan-to-value ratio or the type of loan they are doing. If you are pulling money out of the loan for renovations or to create a home equity line of credit, make sure you get the most amount of money you can at the best interest rate.

Hidden Fees / Down Payment

Once you have done all of your research mentioned above, don’t forget to check with your lender on the following items:

You should find out what interest rates are offered and how much points would be if you chose to “buy down” your interest rate.  Many people don’t know about points, and lenders can sometimes add them into the cost of the loan in order to advertise a better rate to the home buyer.  Make sure that you are getting the base cost of the loan and then the cost of points.  Your lender can break down for you how the cost of points can save you money in the long run by showing how you “pay off” your points and still ssave money of your monthly payments.

Secondly, when you are finding out about the type of loan available to you, find out the specific information about the down payment.  Lending restrictions have loosened up in the last couple of years, so a 20% down payment is not necessarily required anymore to get a loan.

If you are able to obtain a fabulous rate, make SURE to find out exactly when you are required to close if you lock-in your rate in order to be able to keep that excellent rate for closing.  Locking in your rate means, though, that you can’t get a better rate later on, so if you feel like your closing can happen fast, and you have the best rate, go ahead and lock it down to get the most savings.

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National Lot Size Average Helps Builders and Home Buyers

The number of jobs available in the construction sector have become a positive “negative” for the United States’ real estate market.  Employers are reporting more open positions for construction employees and sub-contractors.  This shortage of workers is actually contributing greatly to the slow completion of new homes for sale on the market.  However, new home sales for single-family detached homes has increased 13% year-over-year, reporting 592,000 homes completed in June, 2016.  Lot size has also started to play a role in the completion of  new homes for builders in an unexpected way. The lack of developed lots has also slowed down new home builders as they are trying to keep up with the demand from new home buyers in the housing market.

However, there is a “silver lining” to the lack of developed lots.  Builders may find that they don’t have to look as hard for lots on which to build because the Census Bureau’s Survey of Construction (SOC) found that new home buyers preferred lots that were less than 8,600 square feet – approximately 1/5-acre lots.  Since an acre is 43,560 square feet, this means that approximately 5 homes could fit comfortably on a space the size of a football field.  This is also good news for first-time home buyers.  The types and sizes of homes that would fit on a 1/5-acre lot would probably fall within the price range of the first-time home buyers.  Most builders paying attention to housing trends build new homes based on buyers’ preferences.  As lot sizes decrease, the availability of affordable housing has the potential to increase.

In Louisiana, the SOC reported that new home buyers buying single-family homes in Louisiana prefer lot sizes that are .16-acre.  This is less than the national trend of 1/5 acre.  Ron Lee Homes in St. Tammany Parish Louisiana can design and build you a completely custom new home either on a lot you already own or on any new lot for sale in the new subdivisions in the West St. Tammany Parish area.  We also have garden home floorplans and smaller square footage floorplans that have been designed and engineered for smaller lots.  New home buyers frequently modify our previously designed floorplans to their specifications in order to have Ron Lee Homes build the home of their dreams.  If you already own your lot or would like to buyer a lot in one of the many neighborhoods throughout the St. Tammany Parish area, Contact Us Today, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

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Cultural Arts District to Move Forward in St. Tammany Parish

St. Tammany Parish will enjoy the benefits of the design and construction of a new arts and education district in 48 acres north of I-12 between the Pinnacle at Nord du Lac shopping center and the Tchefuncte River.  Despite many ups and downs along the way, including the governor’s veto of $11 million in assistance for the construction project, parish president Pat Brister will realize her vision of creating not only a cultural arts district but also an educational facility and program for students on

the North Shore, including the Tangipahoa Parish area.

The entire property includes plans for the cultural arts district, the center of which would be a performing arts center, a children’s museum, and a privately owned commercial development with possibly a hotel and restaurant.  Donation of land for a theater and amphitheater as well as planned nature trails along the river are also part of the project.

Real estate developer Bruce Wainer of All State Financial owns the 48 acres as well as the 80 acres that are adjacent to it.  He plans on donating the land for the children’s museum and the performing arts center which will help alleviate the costs, now that the state government is currently unable to contribute.  The natural part of the property includes wetlands, a river, and a heavily wooded area which will offset the commercial atmosphere of the entire development.

Design elements are being prepared by a team of architects and planners which include Wilson Butler Architects of Boston headed by Scott Wilson, and Fisher Dachs Associates of New York.  Wilson’s vision of the area is that of constant activity both day and night for “kids of all ages.”

“Most performing arts centers are urban,” he said. “Very few projects of this nature have such a pristine, undamaged, unmolested site. It’s a huge responsibility for us to do it right.
“Clearly the land, the trees, the wetlands are your jewel. For us to not really capture that would be a big mistake.”

Even though the funding did not come through as planned, Brister is undettered. Brister, who invited members of the news media to attend part of Wednesday’s session, said the parish government didn’t embark on the project thinking all of the funding would simply fall into place. She said the parish is fully prepared to move ahead with planning and will talk with Edwards about future funding.  In addition Brister said St. Tammany will look for money from cultural arts grants, economic development districts, naming rights and private sources.

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Single-Family Home Sales Increase in 2nd Quarter

Single-family home sales increased by almost 24% compared to new home sales in 2015 in April.  Compared to March, 2016’s home sales, single-family home sales increased by almost 17%.  Finally, sales went up to 619,000, an eight-year high during the month of April as well.
Home buyers are taking advantage of the availability of new homes because the inventory of new homes for sale on the market has decreased to a 4.7 month’s supply – a total of 243,000 new homes for sale with only 56,000 completed, move-in ready homes available. Demand will require that builders increase their production of new homes for sale in order to keep up with the buyers.

Single-Family Home Builders

April’s sales numbers go hand-in-hand with the reported new, single-family home starts which increased by 3.3% at the beginning of April.  Builder confidence held steady for the 4th month in a row since February, 2016, which contributed to new construction starts and inventory on the ground.  Single-family home permits in the beginning of April were already up year-over-year by 8.4%, so construction of new homes should continue to escalate over the next few months.

While first-time home buyers are finding it difficult to find new homes for sale in their price range, the sales of homes priced from $150,000 – $200,000 increased to 10,000 sales in April.  For existing home sales, the first-time home buyer sales accounted for 32% of these sales, opening up the market, once again for homes priced affordably.

Good News for Resale Market

Existing home sale closings increased by 6% year-over-year and by 1.7% compared to March’s sales.  It is definitely a seller’s market right now as existing home inventory also stands at a 4.7 month supply like single-family new homes.

The 2nd quarter of 2016 shows good news for the housing market after a slow 1st quarter start.  New, single-family home starts and permits indicate an increase in new home inventory moving forward in the 3rd quarter.  Sellers should be able to “take their pick” of home buyers as supply currently is lagging behind demand.

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New Construction Jobs Support Overall GDP

Home building generates a substantial amount of money for local governments and the federal government just by the nature of the industry.  According to the National Association of Home Builders, approximately 90,000 different governments receive approximately $111 million in taxes and fees from the construction and building of 1,000 single-family homes.

Sub-Contractors Contribute Greatest Share

In addition to the governments making a substantial amount of money from home building,

sub-contractors also are reported to make consistently higher wages because of home building.  One of the reasons for this is that sub-contractors actually do the work themselves instead of hiring the jobs out to employees.  Because sub-contractors make up the majority of the workforce when building a new home, the taxes on profit then paid by these sole proprietors also contribute greatly to the overall economy.

Tax Breakdown

The amount of taxes paid to the federal government is comprised mainly of income taxes and social security equaling an amount of $74.4 million.  State and local income taxes comes to $10.3 million, and city and county taxes equal approximately $6.9 million.  Other taxes consisting of impact fees, permit fees, and other fees for new construction bring in a total of $13.7 million.

A breakdown of industries which bring in the revenue shows that construction has the most jobs, and other affiliated companies related to construction such as manufacturing, bring in other revenue.  Other affiliated businesses include trade, transportation, warehousing, finance, insurance, real estate sales, rental and leasing, and professional, management, and admin services. A total of 2,975 jobs are created from building 1,000 single-family homes based on full-time jobs over one year.

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Interest Rates to Remain the Same According to the Fed

A unanimous decision by the Federal Reserve the first week of June declared that interest rates would remain the way they were. This decision was made after reports revealed that the labor market is still not showing a strong recovery.  Even though there are still job gains across the board, they are slow and business investment has also not picked up.
Home buyers have enjoyed and even taken for granted interest rates that are historically low for the past 10+ years.  For those buyers who have been able to recover and succeed after the Great Recession, it is still one of the best times to buy a new home or buy an existing home in today’s housing market.

Predicted Rise in Interest Rate

Originally, the “Fed” had predicted that there would be two more rate hikes of the interest rate during 2016, but June’s meeting saw 6 members stating that with the slow growth of the economy, they only would really commit to a possibility of one more interest rate increase, citing the normalization of monetary policy taking a longer period of time than expected.
The good news is that the unemployment rate went down by 4.7%, but the gain of jobs in May, 2016, was only 38,000.  Also, the job increases reported in March and April were revised down by 59,000 – a loss of 458,000 in the labor force.

Strong demand still exists for employees and contractors in the residential construction sector.  The BLS JOLTS data shows that builders have approximately 200,000 unfilled positions.  However, during the course of April and May, 9,600 jobs were lost in the residential construction industry, and these jobs are now having to be refilled.

First-Time Home Buyers

Because of the cost of labor and materials to build a new home, first-time home buyers are finding it hard to acquire a new home.  Homes that are priced less than $150,000 account for only 6% of the market according to the National Association of Home Builders.  Currently approximately 31% of the home buyers surveyed expected to be able to pay less than $150,000 for their new home.

New home buyers in the market to purchase a new home will still benefit greatly from the significantly and historically low interest rates.  Any rise in the interest rate in 2016 will still probably keep the interest rate low enough to have affordable house payments.

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Tax Credits Still Available for Energy Efficient Home Features

New homes which are “green-built” to reduce energy consumption have several benefits to new home buyers.  Many people don’t know that tax credits are still available for the use of energy efficient home features. First of all, because of the usage of the proper insulation, tightly sealed caulking and weather stripping, the home’s interior temperature is more comfortable.  Through the control of air and vapor through the use of air/vapor retarder systems, the humidity of the home is reduced significantly making it a more dry environment.  Because of the insulation and tightly sealed yet ventilated structure of the home, there is a reduction of a significant amount of noise as well.  All of these factors contribute to a peaceful and comfortable living environment for our new homeowners.

At Ron Lee Homes, we use many different energy efficient building techniques.  Because he is Green Building Certified through the National Association of Home Builders, Ron Lee is an expert on applying the latest trends and technologies in building green homes.  Currently, the federal government is offering tax rebates for two different types of energy efficiencies: the Residential Energy Efficient Property Tax Credit, which benefits those who have incorporated renewable energy features into their home, and the Nonbusiness Energy Property Tax Credit, which benefits those who have installed materials that meet the U.S. Department of Energy’s energy efficiency standards.

Energy Efficient Materials

In order to clarify exactly which types of materials will help you in renovating and updating your home, saving you money on your utility bills, and receiving money off of the annual taxes you pay, Ron Lee Homes has provided a description of all of the potential changes or new building techniques you can use that are considered energy efficient enough for the IRS.
First of all, for new home building, you will want to make sure that your thermal envelope is designed and installed to help reduce moisture and air from flowing through your home.  Your thermal envelope includes the wall and roof, insulation, air / vapor retarders which reduce water vapor condensation, windows, weather stripping, and caulking.

A typical home loses more than 25% of its heat through its windows.  In addition to using Energy Star® rated double or triple-paned, energy efficient windows, something as simple as roof overhangs are excellent at providing shade keeping the heat and sun glare off of the sides of the house as well as the windows especially here in Southeast Louisiana.

Amazingly, properly applied caulking and weather stripping will reduce a home’s utility costs by 50%.  Sealing all of the potential places that air and moisture can escape or come into your home can enormously change your home’s environment – creating a less humid place to live with more stable temperatures.

Choosing the properly-sized heating and cooling system and then creating ventilation and air re-usage opportunities throughout the home will let the home “breathe,” which helps with reducing hot and cold air when it is not necessary.

Energy Star® water heaters, refrigerators, washing machines, dryers, dishwashers, lighting, and room air conditioners should be chosen to decrease entergy usage which makes it cost less to use your home appliances.

For more information about building a new home with energy efficient features or renvoting your current home with these features, Contact Ron Lee Homes at 985-626-7619 or E-mail Info@RonLeeHomes.com.

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NAHB Survey Shows Desire for Better Amenities Among Remodelers

Among the many reasons for remodeling your home, the National Association of Home Builders surveyed homeowners and found that the top reason for a remodel was a desire for better / newer amenities.  In conjunction with this reason, homeowners’ second reason for remodeling their current home was a need to repair / replace old components.

In order for a home to feel like “brand new,” homeowners can largely do an overhaul of their existing space, replacing or adding trim, repainting, putting down different flooring, replacing cabinets and countertops, and installing new fixtures, lighting, and appliances. The desire for new and better amenities includes all of these activities and also includes installing new components whether they be new faucets, sinks, toilets, tubs, showers, shower stalls / doors, kitchen islands, and much, much more.  Unused wall space can include new cabinetry, a kitchen desk or mini-office, a butler’s pantry, or a built-in wet bar designed specifically for entertaining, complete with ice maker, refrigerator, and / or wine cooler.

Other reasons for remodeling your home can include wanting to avoid moving or buying a new or existing home for sale, the ability or desire to stay where you are – age in place.  If you have children, you may love the area in which you live, your kids love their school, and you like the school district, your neighborhood is desirable and your neighbors are your friends, and other reasons for “staying put.”  Your home may not no longer be meeting your expectations for comfortable living, but remodeling your home to give it a fresh look or even adding on more space in the form of an expanded family room area, a new sun room, a new patio / screened-in porch, a mother-in-law suite, or even an upstairs apartment above your garage could make your life and your family’s life more enjoyable.

Whatever your reason for remodeling your home, Ron Lee Homes in St. Tammany Parish can help.  We have added entire outdoor space, completely reconstructed kitchens and bathrooms, and created private master suites for more comfort while you age in place.  To get more information on renovating your home with Ron Lee Homes, call 985-626-7619 or E-mail Info@RonLeeHomes.com.

FHA Backed Loans Reported to Have Slight Increase

Certain pricing requirements, mortgage types, and age requirements are considered a trend for first-time home buyers.  Different housing market statistics are indicating that first-time home buyers may soon be increasing to pre-Recession levels. The first indication was a slight uptick in FHA (Federal Housing Authority) backed loans.  With the recent easement of FHA loan requirements including a lower percentage required for the down payment, more first-time home buyers are able to qualify for FHA mortgages.  The increase in FHA-backed mortgages went up to a 17% market share for a quarterly count of 23,000 FHA loans in the 1st quarter of 2016.

Pre-Recession Trends

 

Interestingly, in 2002 – 2003, well before the Great Recession, FHA backed mortgages were only 10% of the market share where in 2010, FHA loans had a 28% share of the housing market.  These statistics show a steady presence of FHA loans in real estate transactions.  It also indicates the necessity of a government supported loan program for struggling Americans who need assistance with their new home purchase.

Conventional home financing still makes up the majority of home purchases in America today.  For the first quarter of 2016, Conventional loans made up 68% of the homes achieved by home buyers.  The reason for this may be another market statistic which showed an overall increase of in personal income in the United States.  a 2.2% year-over-year increase for 2014 was reported with median income reported at $28,757.  This is 5.4% less than its high in 2007 right before the Recession, and it is still lower than income reported in 20000, but statistics show the trend of the total of personal income is and has been on the rise since it bottomed out in 2012.

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National Association of Home Builders Announces Positive Housing Recovery

According to the National Association of Home Builders’ (NAHB) Leading Markets Index (LMI), the national housing market is within a 5% range of complete housing recovery compared to what is considered a “normal” housing market which the United States last saw in 2006.  Out of a score of one, the latest LMI scored a .95 nationwide in housing recovery.

How is the LMI Calculated?

The way that the LMI makes a numeric determination is taking statistics of single-family housing permits, employment, and home prices calculated for the entire country and specifically 337 local markets.  Single-family home permits rose from .48 to .49, new home prices increased from 1.38 to 1.40, and employment rose from .96 to .97.  The really good news is that approximately 35% of the 337 markets have a score that exactly equaled 1 or is greater than 1.

The number of markets which increased overall in single-family home permits in a year-over-year comparison rose by almost 65%. Employment numbers increased 71%.  Three hundred twenty-four markets out of the 337 are now showing new home pricing that is considered normal according to the last data recorded in a normal real estate market in 2006.

For communities located in Louisiana, almost all counties accounted for were located in the top 20% of housing rankings.  Approximately 4 areas were in the top 60% – 80% rankings relative to normal housing numbers for new home permits, employment and new home pricing.  Louisiana overall experienced a far softer impact of the slowdown in housing market numbers of the Recession than other states in the United States.  Baton Rouge consistently ranks in the top 10 cities in the United States with the best recovery numbers to date.

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Real Estate Market Celebrates Statistics Which Indicate a Buyer’s Market

Real Estate Showing Buyer’s Market

In general, the real estate market seems to be turning more into a buyer’s market than a seller’s market – an indicator that the housing market continues its steady, slow rebound since the Recession.  New home buyers have cause for optimism with the increase in standing new home inventory which was upwardly revised for the month of March from 205,000 in March, 2015, to 246,000 new homes this year.  Currently, new home inventory stands at a 5.8 month’s supply.

Competitive Home Pricing

 

With the increase of available homes, new home pricing and existing home pricing are now competitively arranged in the housing market, making builders’ new homes for sale just as attractive price-wise as existing home pricing.  This trend of available new homes for sale is expected to continue as in the month of Market, there are approximately 149,000 new homes under constructions and 41,000 single-family homes that will be constructed according to the record of building permits throughout the country.  The building industry reported 56,000 move-in ready homes on the market ready to be closed.

New home pricing has also stabilized compared to new homes for sale in March, 2015.  The current new home median sales price is $288,000 where it was around $293,400 in 2015.  Overall, new home pricing gained in a year-over-year comparison, with homes in the $200,000 – $300,000 price range rising by 20% in comparison.

As new home inventory exponentially increases, and a high number of new homes “flood” the real estate market, new home sales are expected to increase in the months ahead as home buyers can expect to see a large variety of different floorplans, features, and upgrades available to them in making a choice of buying their new home for sale. Some buyers may choose to build their new home from scratch with a custom home builder such as Ron Lee Homes in St. Tammany Parish.  If you are interested in building your new, custom home, Contact Us at 985-626-7619 or E-mail Info@RonLeeHomes.com.

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Discover the Value of Homeownership in America

The value of homeownership has just been assigned a number based on information regarding homeowners in 2013 in the United State.  Owning your own home in America can save $100 billion in tax savings and deductions. Statistics showed that only approximately 11.4% of Americans who had a mortgage by owning a home that they occupied in 2013 did not take advantage of being a homeowner by deducting the mortgage interest that they paid from their federal taxes according to the Joint Committee on Taxation (JCT) and National Association of Home Builders (NAHB) analysis.

It cannot be emphasized enough the huge advantages of becoming a home owner in today’s economy.  In addition to the $296.2 billion that was claimed on Americans’ taxes, there was also the amount of $174.3 billion in real estate taxes that were claimed on taxes as well. Overall, people who owned homes in the U.S. in 2013 were able to trim their tax bills by over $100 billion dollars.  Mortgage interest deductions accounted for $72.4 billion in savings on taxes while real estate taxes equaled $30.2 billion.

These numbers don’t include individual state programs for making improvements and installing energy efficient, “green” products in their homes.  These deductions are specialized each year by both the state and federal government and typically have timelines and requirements on the amount of money that can be deducted.  The bottom line is that if you own your own home, you have a significantly better chance of saving money on certain home improvements than if you were renting your home.

Another advantage to owning your own home is that on-time mortgage payments will vastly improve your credit.  Just by owning real estate, your credit score will improve as soon you close on your home and log your first mortgage payment.  With better credit, you can expand your opportunities for loans and investments, thereby creating even better credit for yourself and your family.  As you pay more and more principle on your mortgage payments, you will see your home equity rise as well.  You can use an equity line of credit to make improvements to your home (and get those tax deductions!) which also increases your home’s value.  Real estate can be one of your greatest assets that continually increases in value, appreciation, equity, and opportunity if it is handled correctly as one of your greatest investments.  So, what are you waiting for – discover the possibilities of becoming a homeowner today!

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Louisiana in Top Tier of States Leading Housing Recovery Louisiana in Top Tier of States Leading Housing Recovery

NAHB Spring Construction Webinar Forecasts Strong Housing Growth

When comparing statistics in housing trends, the National Association of Home Builders place Louisiana in the top tier of states leading housing recovery nationwide.  The top states include Montana, North Dakota, and Utah, and the 2nd tier of states include Texas, Oklahoma, Louisiana, and Alaska.  There are several factors that contribute to Louisiana’s (and other states’) housing recovery.  Some states, such as the top 3 states of Montana, North Dakota, and Utah did not have as big of housing bubbles as other states.

Therefore, their “fall” during the Recession was not as great, so their housing recovery was faster and better.  States like Texas and Louisiana are mainly energy sector states, so the Recession did not cut as deeply into employment and statewide income as other states.  Baton Rouge, Louisiana, has consistently held one of the highest rankings in housing recovery since the beginning of 2015 which helps with Louisiana’s housing statistics.

“The basic principle remains the same,” said NAHB Senior Economist Robert Denk. “A strong economy – whether helped, hindered or unaffected by the energy economy – will be a key factor driving housing recoveries going forward.”

Economists predict that by the end of 2017, the top tier states will have a housing recovery of 102% of normal (based on statistics pulled of the housing numbers during the last “normal” housing market pre-Recession).  The bottom tier states will have recovered to just 65% of where they were before the Recession.  The reason for the predicted recovery numbers in 2017 is based on the underlying housing market fundamentals of population and job growth which are typical in driving supply and demand in real estate.  The cycles of “boom and bust” are mostly over according to Denk.

“A common theme has emerged,” said Denk. “The progress of market recovery is no longer a function of the boom-and-bust cycle marked by price bubbles, excess supply and foreclosures. The key driver of the housing recovery is now back to the underlying housing market fundamentals of population and job growth.”

Factors that will help builders and sellers to sell their new homes for sale and homes for sale are a predicted increase in household formation by home buyers that were previously unable to secure a mortgage, stabilized home pricing that now offers tiers of homes for sale available and affordable to purchase, less foreclosures, rising employment and the first increase in wages in over 8 years, and home prices that are in line with incomes and rents making it an easier transition from renting to owning.

If you are a new home buyer who is interested in building your own custom, dream home in West St. Tammany Parish, Ron Lee Homes in Covington, Louisiana, offers full-service home building strategies such as custom home design, engineered floorplans, complete “end-to-end” home construction supervised by Ron Lee, financing and insurance assistance, and a hands-on approach to building new, custom homes in the Greater New Orleans area.  For More Information, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

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Real Estate Trends in April Showing Growth and Good News

With the 22.6% increase of single-family home construction starts compared to the previous month and year of March, 2015, real estate nationwide has taken a very positive step forward.  In addition to a substantial increase in new home starts, there is good and bad news when it comes to new homes being built and put up for sale in the real estate market.  The bad news is that builders are finding it difficult to procure land to build new homes, as well as the labor required to start and complete a new home project in a timely manner.  On the flip side, that is also good news in that there are now a tremendous amount of construction jobs available for those trained and experienced in the construction industry.

The lack of land and lots to build also increases the new home buyers’ demand across the entire United States, making it so that builders are building new homes “on demand” for prospective homeowners.  Now home buyers are waiting on builders to supply new homes to buy whereas just a few years ago, it was builders waiting on home buyers to be able to buy a 1.5 years’ supply of new homes.

Existing home inventory currently in the market is also really tight according to the National Association of Realtors.  Right now, existing home inventory is at just a 4.5 month supply – really good news for sellers and Realtors, but not such good news for home buyers.  However, existing home sales increased 5.1% in March, despite the dearth of homes available to buy.

If home buyers are in the market for a new home and can afford to wait to be able to build their dream home, they may consider buying a new custom home from local builder Ron Lee Homes in St. Tammany Parish.  Custom homes built by this award winning builder are “worth the wait,” and by using Ron Lee Homes, buyers get full-service attention on the new custom home building process.  Ron Lee Homes designs floorplans, builds new custom homes, assists with financing, and literally walks home buyers through the home building process from start to finish.  So, if you would like to Consult with a Custom Home Builders in West St. Tammany Parish, Call 985-626-7619 or E-mail Info@RonLeeHomes.com.

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Reasons to Stay in Your New Home 5 Years

Whether you are buying your first home or your 4th home, the time you spend in your home before downsizing or upgrading makes a financial difference in your investment.  Most people start out in the real estate industry when they buy their first home.  Unless they come from a very wealthy family or have won the lottery, the home is priced modestly or on the low end and is built that way as well – smaller square footage, less bedrooms and baths, in an up and coming neighborhood.  First time

home buyers can be single professionals who are successful, in a steady job, with an income that is rising each year, but most people who buy a home for the first time are couples looking to start a family. These couples eventually would like to move out and move up to provide more space for their growing family.  They are “getting their foot in the door” with their first home to establish credit and create equity opportunity to eventually sell and move up to something bigger.

The biggest question then, to ask is this – how long do you stay in your home in order to make sure you aren’t losing money and to build enough equity to become a “move-up buyer?”  The answer to this depends, but it is typically about 5 years.  Below are the reasons for this number:

1.  Closing Costs: Whether you are buying a new or previously owned home (resale) or refinancing your home, you are going to “run into” closing costs.  Closing costs is the profit for loan originators, title companies, and the state in which you live (recording fees) which are charged during the loan process.  Every company needs to make money, and closing costs are how they make theirs.  Closing costs are, most of the time, added to the principle of your home, increasing your loan amount and shrinking your home’s equity.  Each time you make a real estate transaction, you are charged these costs.  Staying in your home approximately 5 years “pays off” these closing costs enough for there to be enough equity in your home (most of the time) to have money for a down payment when you move to your next “move-up” home.

2.  Interest: Even with the historically low interest rates in the market today, the mantra in real estate still stands, “The Bank Gets Paid First.”  When you are paying your monthly loan payments, you will notice on your mortgage statement that the amount of principle being paid on your home is significantly less than the amount of interest being paid.  You can also see this on your amortization schedule during your closing.  As your loan “ages,” the amount of interest balances the amount of principle and eventually ends up being less than the amount of principle during the last years of your loan.  If you only stay in your newly purchased home for a short period of time – say 3 years – the amount of principle you “pay off” will not be enough to merit a sale and move unless you are making extra principle payments each month.  The recommended period of time to stay in your home, reduce the amount of interest charged, and pay off as much principle as you can in order to gain equity during a sale is 5 years.

3.  New Vs. Used: The type of home you buy can also make a difference in how much time you spend in it before you upgrade to something bigger and better.  If you are buying a new home, it really doesn’t make that big of a financial difference in the time you spend in the home because typically, in a new house, you don’t end up with much maintenance on the home until about 4 – 5 years in.  On a previously-owned home, resale home purchase, however, there may be a significant amount of upgrade and upkeep that you will expend when you first move into the home.  Depending on the age of the home and the last time it was renovated, big system items, such as hot water heaters, condensers, garbage disposals, ductwork, roofing, etc. could end up needing to be repaired or replaced.  If you look at the amount of money you spent on renovating the home, the amount of interest you pay on your monthly mortgage payment, and the amount of closing costs you paid during the initial purchase; you may see that it would behoove you to stay in the house for about 5 years (or more) to get the equity out of the home to pay off your financial investment.

4.  Appreciation: The “golden days” of “instant appreciation” are fewer and farther in between when it comes to purchasing your first home in an “up and coming” area.  During the real estate boom of the early 2000’s, subdivisions were seeing appreciation in their homes from the beginning and build out of Phase I to the commencement of building Phase II.  You have probably seen the prices on the signs change from Phase I to Phase II where the exact same floorplan started selling $10,000 – $20,000 higher in Phase II than it did in Phase I.  Those days of instant appreciation are very rare, so when you purchase your home in an area you expect to experience residential and commercial growth, you, as a homeowner, may have to wait a little bit longer for that long-anticipated

appreciation to come about.  Along with the other factors mentioned above, this is yet another reason to wait approximately 5 years before selling and moving to a bigger and better home.

Ron Lee Homes, a home builder in St. Tammany Parish, specializes in 2nd home (and above) move-up homes.  Whether you are looking to build a semi-custom or fully custom new home in Mandeville, Covington, Madisonville, or Abita Springs, Ron Lee Homes will work with you and provide base floorplan designs for your consideration.  Buying or building a new home can seem a little challenging, but working with the team at Ron Lee Homes will make your home buying / building experience a pleasant and satisfactory process.  To get started with the plans for the home of your dreams today, Contact Ron Lee Homes at 985-626-7619 or E-mail Info@RonLeeHomes.com.


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St. Tammany Parish Homeowners & Businesses Receive Financial Relief

Good news for St. Tammany Parish homeowners and business owners is that they won’t have to “jump through hoops” in order to get their repair and renovation construction off the ground following the historic flood that hit Covington, Louisiana, inundating the city with water from 3

different river sources and shutting down roads and businesses for several days.  The City of Covington has waived the requirement for building permit fees under an ordinance approved by the City Council.

Mayor Mike Cooper said most of the floodwaters had receded by Tuesday and residents were in clean up mode.
“Things are moving,” Cooper said. “The city is doing what it can to help.”

With 100 total structures and counting being reported with flood damage, not only would the fees and requirements be cost prohibitive to the city, but they would hold up the restoration of people’s homes and businesses which would only cause the city to suffer because of the lack of production.

In order to assist homeowners with their repairs, the city is also requiring any contractor or builder working on a flood damaged home who applies for a permit to be a state licensed contractor.  This

should reduce the amount of fraud that happens when huge storms cause damage in the Greater New Orleans area.  Because state licensing requires proof of general liability insurance, homeowners can also breathe easy while the contractor or builder is working on their home.

The main culprits of the flooding were the Bogue Falaya and Little Tchefuncte Rivers in northern Covington.  One of the storm’s casualties was the Bogue Falaya Park in downtown Covington, which will be closed until further notice until the repairs to the wooden pavilion and playground equipment can be done.  St. Tammany Parish is applying for disaster relief for the storm that brought so much damage and it is the mayor of Covington’s hope that this funding will be made available to Covington’s residents who need it.  Parish-wide, so far it has been counted that 615 structures received flood damage in St. Tammany Parish.


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Pace of New Home Sales and New Home Inventory on the Rise

Both the pace of new home sales and new home inventory are up according to the numbers reported for February, 2016.  New home sales went up by 2% bringing the seasonally adjusted amount to 502,000.  Standing new home inventory also moved upward slightly to a 5.6-month’s supply of homes meaning it would take this amount of time to sell off all of the standing supply of new homes for sale nationwide.  New home inventory has struggled to rebound because of three factors: lots,

construction workers and sub-contractors, and lending standards.

Lots available for building have actually been a problem for builders in pockets around the country as builders are ready to “get back to work” and build new homes for sale.  The lack of supply of ready lots have them searching more rural locations or building completely different floorplans to accommodate certain lot plats.

Construction employment demand has skyrocketed as opportunities begin to be more and more prevalent because of the surge in new construction.  Employees and sub-contractors seem to be now flooded with work, which leaves builders waiting on certain subs’ industries to come out to work on their new homes under construction.

Lenders have found ways to ease the home buyer’s woes by offering better standards of down payments with new FHA loan packages and rural development loans.  However, the kink in the industry came in late October and the beginning of November, 2015, when the new Closing Disclosure was implemented for real estate closings.  Banks, lenders, mortgage companies, and even title companies are on a fast learning curve to master the new system and get home buyers into their new homes fast.

In reality, it is better that the real estate industry is undergoing these types of struggles rather than a complete lack of demand and over 1.5 year’s inventory on the ground like it felt during the Recession.  The lack of all of the items mentioned above are actually a good problem for new home builders to have.  If you are interested in building a new, custom home in St. Tammany Parish, Contact Ron Lee Homes today to set up a meeting regarding new home plans and construction.  Call 985-626-7619 or E-mail Info@RonLeeHomes.com to set up your appointment.


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Construction Spending Shows a Year-Over-Year Increase

The National Association of Home Builders monitors the construction industry so it can be the first to report both positive and negative news to the real estate industry and if necessary, to Congress.  Since the housing industry is one of the leaders in economic growth and development in the United States, and the national economy depends on real estate for a good portion of the GDP, the health of the real estate industry if of prime importance to those vendors, contractors, and builders who are involved in its day-to-day production.

To that end, construction spending was reported by the National Association of Home Builders (NAHB) to have grown in November, 2015.  Private residential construction which includes homeowner improvements, DIY remodeling and renovations, and other types of repairs saw an increase in construction spending of 5.9% from November, 2014.  Single-family construction spending was up 9% over the same period and multi-family construction spending was up 12%.
From November, 2015, to December, 2015, private residential construction spending increased by .12%.  Single-family home construction spending increased to $231 billion which is a 1% increase from November.  Multi-family spending increased to $53 billion – a 2.66% increase.  Interestingly, if multi-family spending levels off to a steadier pace, which it is predicted to do in 2016, the trend in real estate suggests that single-family home construction will begin to increase.

In the commercial sector, an increase of 45% in the manufacturing-related construction from December, 2014, to December, 2015, drove an overall increase of 8% year-over-year in commercial construction spending.

Since the Great Recession, the real estate industry has been on a continuous climb of recovery once the housing market started to turn around.  The numbers at the end of 2015 reflect this slow but steady progress for builders, contractors, remodelers, and renovators, as well as all of the construction employees involved in projects nationwide.

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Open Floorplans Are Popular in Today’s Real Estate Industry

The buzz word in the real estate industry today for new homes being built and existing home remodeling is an open floorplan.  What exactly does that mean?  The open floorplan refers mainly to the entire living area and possibly even the sunroom, screened-in porch, or patio area on the bottom or single floor of the home.  Open floorplans typically include the Family Room / Living Room, Dining Room, Kitchen, Sunroom, Keeping Room, Breakfast Room, and/or Porch / Patio.

Open floorplans discourage compartmentalization by encouraging each room or area to flow into the next.  Kitchens in an open floorplan can be expansive with a full working island in the middle as well as an additional breakfast bar that can have extra space for family social gatherings.  The kitchen island may have an additional sink, icemaker, dishwasher, trash compactor, or even a wine cooler. The island can also include cabinet space and drawers for additional kitchen storage of utensils, dishes and appliances.

Most of the time, the kitchen will overlook the Family Room with a view of the floor to ceiling fireplace for a vaulted ceiling floorplan and the television, letting the cook enjoy shows and games while have to cook, clean, and entertain.  The kitchen may have additional bench seating against the wall of what typically would be a Breakfast Room or Keeping Room in order to create a place for people to talk if they are not watching television.

Family Room space flows into what would have been the formal Dining Room, so homeowners have the option of buying a bigger living room set or adding built-in bookshelves, an informal office, or even a kids play area.  If there is enough room in the open floorplan, a screened-in or glassed-in porch may be easily accessible from the Family Room, or custom home buyers may choose to insulate a sunroom for a greenhouse effect for those that are plant lovers.

The obvious point here is that the days of separating out the “Formal Dining Room, Formal Living Room, Family Room, and Kitchen” are pretty much over – much like the disappearance of the “Parlor” in the ’50’s.  Home buyers and homeowners love their sprawl and space and having access to everything in the main living area of their home.

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Trends That Are Showing Up in Remodeled or Newly Built New Homes

Whatever type of home construction you are planning – a new, custom home or a complete remodel / renovation of your existing home – you will want to pay attention to the trends that are showing up in remodeled or newly built new homes.  Below are several trends that are popular among contractors, builders, and homeowners.

1. Luxurious garden tubs or jetted garden tubs have held steady in home construction for years, but for 2016, the trend is shower stalls or walk-around showers with shelving and seating.  There are some really unique shower designs that include multiple shower heads and even massage sprays.

2. For your backsplash, trim, or even walls and floors, ceramic tile is not as popular now among renovators and builders as glass tile.  The glass tile comes in many different colors as well as designs with multiple colors, so choose your matching design and go crazy!

3.  When stepping up to the gourmet kitchen or luxurious master bath, granite countertops used to be the ultimate material that reflected the type of construction of your new home or remodel.  There is a new material that is called engineered quartz that is not only tougher than granite and lasts longer, but it has the same timeless, classic, and upscale design for your custom counter work.

4.  Toilets naturally came in lower to the floor sizes for decades, but now there are choices of toilet heights that are available to new home buyers, and buyers are choosing height over flow.  The new, higher toilets are also more water efficient and modern, saving some homeowners on utility bills.

5.  Along with ornate, custom-built, real wood cabinetry; home buyers and remodelers now have a choice of painted, stained, and dark wood cabinetry vs. the traditional oak cabinets that were standard for new home construction projects.  Choose and contrast these colors as well with a two-toned look in the kitchen or bathroom.

6.  Even though, we as a custom home builder still encourage you to buy reliable appliances throughout your home, the industry has caught up with technology, so some home buyers and home renovators are now going with a mid-range level of appliance vs. a high-end appliance package.  The appliances themselves seem to have the same duration of service, and you can also purchase upper end looking fixtures, such as stainless steel to achieve the look you want without all of the cost.

7.  Back to the basics – homeowner and savvy new home buyers know to renovate and build their homes with real wood flooring such as solid oak or pine instead of engineered flooring.  While the look and cost of an engineered floor is great for the first few years, the results after many years of wear and tear don’t stand the test of time, weather, and constant use.  Homeowners and new home buyers will be looking to find affordable real wood choices for their flooring.

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Home Buyers Seeing Upward Trends in Real Estate

During the first month of the year 2016, home buyers have a lot to be excited about when considering buying a new home for sale.  Home pricing, consumer confidence, and home construction starts and permits are all up!  The housing market has been seeing a steady incline since it bottomed out between 2009 and 2011.  With sharp, record-breaking price increases in 2012 and 2013, the housing market almost seemed to be expanding too fast for consumer demand, consumer affordability, and consumer credit.  However, home pricing trends have “flattened” in 2014 and 2015 creating stability in the real estate market.
During the month of October, 2015, home prices rose at 6% and 11% depending on which report buyers were seeing.  The Case Shiller (CS) National Home Price Index released by S&P Dow Jones Indices showed an 11% increase in October while the more conservative Home Price Index from the Federal Housing Finance Agency (FHFA) rose 6%.  Either way, home pricing has stabilized and is on the upswing which is good for both buyers (a smart investment) and sellers.

Meanwhile, the vote of confidence from consumers showed an increase of approximately 4 points in December after 2 months of declining numbers.  The Consumer Confidence Index by the Conference Board rose from 92.6 to 96.5 from November to December.  The index shows that consumer confidence is growing back to pre-Recession levels.

Finally, construction housing starts and permits for 2015 were up 10.8% year-over-year to equal to 1.11 million.  Single-family home starts were up 10.4% and multi-family housing starts were up 11.4%.  The single-family home starts numbers came to 715,300.  Increases were seen in all 4 reported regions of the United States for single-family homes.  Housing permits were also up compared to 2014 by 12% with a total of 1.18 million.  Single-family home permits were up by 7.9%, and multi-family home permits were up by 11.4%.  In December, single-family home permit numbers were up by 1.8% compared to November as well.

All signs point to a solidly recovering housing market nationwide, and here in St. Tammany Parish, the custom home business is thriving with many new exciting projects for 2016.  If you are interested in building or buying a new, custom home, Contact Us at 985-626-7619 or E-mail Info@RonLeeHomes.com.

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Building a Raffle House for Charity in St. Tammany Parish

The Northshore Home Builders Association (HBA) in St. Tammany Parish is once again, in 2016, building a Raffle House for Charity called Raising the Roof for Charity.  A new home is constructed by member of the Home Builders Association of St. Tammany Parish on the North Shore, and then, this home is auctioned off to raise funds for several chosen local charities.  This year’s recipients include Boys and Girls Club of Southeast Louisiana, the Covington Food Bank, Habitat for Humanity-St. Tammany West and the Tammany Trace Foundation.

The new Raffle House is being built by Integrity Builders in Spring Haven Subdivision in Madisonville, Louisiana.  Tickets are sold by members of the Northshore Home Builders Association

to colleagues and associates in order to raise funds.  The HBA will be having two early drawings for Raffle House tickets – one on March 19th and one on April 16th.  Winners of these two drawings will receive a $1,500 reward.  The final Raffle House drawing will be held at the new, custom home in Spring Haven on June 4, 2016.  Special events will be held in the months leading up to the Raffle House drawing where opportunities to win a free raffle ticket will be available.

The new, custom home being built by the St. Tammany Parish builder member is a 2,600 square foot home of living space with 4 bedrooms and 3 baths which was designed by DesignTech Residential Planners.  The value of the home is estimated at $422,000.  This open floorplan includes a flowing design throughout the living room, dining, room, and kitchen.  The living room also has a gorgeous fireplace and coffered ceiling.  The kitchen includes an oversized kitchen island with breakfast bar and undermount sink.  Granite countertops, real wood cabinetry, and stainless steel appliances complete this deluxe kitchen setup.  The master suite features an oversized walk-in closet off of the sumptuous master bath, complete with centered tub with a separate shower flanking.  For outdoor entertainment, this new, custom home has a huge, covered outdoor patio, complete with outdoor kitchen setup.

In addition to the grand prize of the Raffle House being given away to a lucky recipient, there will be other prizes given out on the day of the drawing to winning raffle ticket holders.  The Raffle House is an important part of raising money for local charities as well as rewarding a St. Tammany Parish resident with a new home.  Don’t miss out on your opportunity to view this new, custom home in Madisonville, Louisiana.

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Krewe of Tchefuncte “Sails” One Day Early in Madisonville

Good news for Northshore Mardi Gras attendees comes in the form of two holidays colliding the weekend of February 6th and 7th.  The final crescendo to Mardi Gras weekend happens to fall on the same weekend as the Super Bowl, so parade goers on the Northshore get a treat to an exclusive Northshore Mardi Gras Parade on the Tchefuncte River in Madisonville, Louisina.

The Krewe of Tcheufuncte Boat Parade will “sail” on Saturday, February 6th at 1pm.  In addition to being a parade on water on the North Shore, as well as the only Saturday parade on the Northshore,

the Krewe of Tchefuncte also has judges available to judge participants in the parade on their boat decorations and costumes.  This year’s theme is Shaken, Not Stirred, and boater participants are expected to dress up and decorate in the theme of James Bond.  There are still available spaces left on the Krewe for $150 for a year’s membership which also includes a krewe T-shire and commemorative martini glass.

On the ground for parade goers and watchers, the Madisonville Community Benefit Organization, a new organization in St. Tammany Parish will be providing food and music on the riverfront of the Tchefuncte before, during, and after the parade.  Participating local restaurants will also be selling their wares and food to parade attendees.  Ironically, the Krewe of Tchefuncte is technically a boat parade, but people who attend will actually walk down the riverfront to the DOCKED boats to receive beads and trinkets thrown from the boat floats.

“I certainly am looking forward to a great time on the riverfront for the Krewe and the parade goers. We are praying for good weather. It’s carnival time and I’m happy to be a part of the Krewe of Tchefuncte,” said Parade Captain, Keith Dennis.

To participate in the boat parade contact Dennis at wkeithdennis@yahoo.com or call him at 985.264.8886. Co-boat Captain Lynn Haas can also be reached at 985.966.5619.
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