It's a Buyer's Market - reported by NAHB

1. Prices are leveling off and you are in the driver's seat for getting a great deal on a new home


2. There is an enormous selection from which to choose


3. Builders are offering great incentives so you can get more for your money


4. Interest rates are near historic lows, but have been INCHING UP in the last couple of weeks


5. Tax Benefits. Able to deduct mortgage interest payments and state & local property taxes


6. You will be building up equity for use years down the road for retirement and college expenses etc.


7. Make a down paymnet of 10% or less of the value of the house. earn returns based on the total value of the property. Plus you get to live there!


8. Today's new homes are increasingly energy-efficient and are constructed with resource conserving materials and techniques to save you money.


9. Updated amenities such as gourmet kitchens, mini-spa bathrooms, tile and wood flooring, and entertainment centers are available in a newly built home.


10. Florida's building codes have changed rapidly and new construction in Charlotte and Sarasota counties are stronger, more durable, more tightly constructed and insulated and much better able to withstand the natural elements of this beautiful tropical environment


11. Prices for new homes are at a good value point. Upcoming increases in materials, labor and government imposed impact fees, will only increase these prices in the future


12. Chances are that the insurance premiums will be less on new construction


13. THE COST OF DELAYING THE BUYING DECISION WILL BE AFFECTED BY price increases on labor and the loss of leveraging, loss of potential tax benefits and the loss of possible incentives


14. Timing the real estate market is a game you can't win . No one knows when the end of the "Buyer's Market" will be, but, because of the factors above, there's no reason to wait to make your move.

Advantages of Construction to Perm Loans

1) Construction Perm loan is a "One Time Closing" saving on dual closing costs

2) The lender protects the customer's interest as lender inspects property before

each draw by the builder - thereby protecting you against lien waivers

3) You pay interest only on outstanding balance as loan is drawn down

4) You pay the doc stamps on deed which are based on the land ONLY

5) Don’t need to sell your house for 12 – 18 months and can live in current

home while new home is being built, making only ONE move

6) LOCK IN rate at current market rates with the option to modify to fixed at completion

7) Can pay mortgage down at Certificate of Occupancy

8) Qualify using debt ratios based on new home ONLY

9) Use "ADDITIONAL COLLATERAL" program to fund up to 100% of purchase price

proving there is enough equity in current home. (Call for details)

10) Build now at today’s prices

11) Money can still be earning in Stock Market or on other investments

12) Often pay taxes on land only during first year of ownership

13) Insurance is very low

Tips to Avoid Fraud by Building Contractors

Some of these tips were published in the Herald-Tribune on Sunday, May 13, 2007

These issues will be of no concern to you when dealing with Premier Communities Inc. and The Villas of Turnberry Trace.

• Avoid offers that seem too good to refuse
• Ask to see the contractor's license; all state-issued licenses come with a card
• Verify a contractor's license by contacting the Florida Department of Business and Professional Regulation at (850) 487-1395 or www.MyFloridaLicense.com
• Check with local building supply companies about the contractor's reputation or ask the contractor for references and CHECK them
• Ask for some past customer references
• Read your contract carefully
• Ensure that there are no blank spaces on the contract before signing
• Do not pay in cash
• Do not sign a completion certificate until all work has been done to your satisfaction

Feds hold rates once again

Once again the Feds hold rates unchanged. This is good and bad news, as the Feds also said the inflation was still a concern, which will put pressure on the bond market, causing rates to inch up. However, the rates are still "low" according to Georges Lussier of Liberty Savings Bank:

30 year fixed on existing homes and spec homes 6.125% with 0 points
15 year fixed 5.75% with 0 points, this is a great refinancing rate.

3/1 ARM 5.75% with 0 points (Lowest rate)
5/1 ARM 6.00% with 0 points

Construction loan rates - one time closing 3/1 CP ARM 5.875% with 0 points
5/1 CP ARM 6.125% with 0 points.

All these rates are for loan amounts up to $650,000

Look beyond cost per square foot

Katherine Salant wrote any interesting article in the Herald Tribune on April 14, 2007. She said that we ooh and ah about the floor plan, the room sizes, the kitchen countertops etc, but in the end, it all comes down to price. We want the most space for the least amount of money, because after all, we're a nation of bargain hunters!

"Unfortunately, home buyers' insistence on evaluating quality in cost-per-square-foot terms has had consequences that they don't appreciate, said Ron Jones, editor of Green Builder magazine. He elaborated on this point at some length, "Buyers value the dollar per square foot, and (some) builders respond by delivering as many square feet of conditioned space as possible for $X. If he can deliver 100 more square feet than the competition, most buyers think it's a better value."

"But the problem with this is that the more square feet that are added for a given price, the less concentration of quality per dollar for performance of the house. The quality of finishes, appliances, mechanical systems and building envelope suffers. Remember that the value depends on what is in the square foot."

North Port Social Services

The Herald Tribune reported recently that "although land hasn't even been cleared yet that the city's new 8,000 square foot social services building will be housing 10 agencies dedicated solely to social services. It will provide a one-stop shop for residents looking for services. Located on Pan American Drive, the building's exterior will look similar to a ranch-style home with a wrap-around porch. "

"It will house agencies such as Coastal Behavioral Healthcare, Sarasota County Technical Institute, The Jewish Family & Children's services, the Women's Resource Center of Sarasota County, Domestic Abuse Safe House and the Healthy Start Coalition., along with North Port's own social services department. The building is designed for a second floor in case it needs to expand. " This is great news for the residents of North Port, The Villas of Turnberry Trace and the surrounding area!