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Posts Tagged ‘new construction’

Home has Highest LEED Certification in U. S.

September 24th, 2013 Comments off

A 3,200 square foot home in Miami Beach, Florida has achieved the highest LEED Platinum certification known to have been given in the nation. Rated at 120/89.5, a HERS (Home Energy Rating System) Index: -8 (100 is normal for new construction), and earning the National Green Building Standard of EMERALD (highest level) which indicates the home is saving 60 percent or more of its energy use, 2020 Alton is also EnergyStar certified. A collaboration between developer Matthew Lahn and architect Ari Sklar, according to PRNewswire, the windows are by CGI Windows and Doors. MHProNews has learned the glass is insulated, laminated, high performance, high-impact glass.

(Photo credit: PRNewswire/CGI Glass–2020Alton house)

Housing Recovery in Phase 3, Market 64% Back To Normal

August 29th, 2013 Comments off
joe-kolko-trulia-chief-economist-credit-forbes-posted-manufactured-home-daily-business-news-Trulia’s Chief Economist Joe Kolko revealed the latest findings from their Housing Barometer. Kolko’s findings are that the recovery has entered a new phase as mortgage rates rise and inventory expands. While prices and existing-home sales are nearing normal, new construction and sales are far from their pre-bust peak. Forbes tells MHProNews that “Each month, Trulia’s Housing Barometer charts how quickly the housing market is moving back to “normal.” We summarize three key housing market indicators: construction starts (Census), existing home sales (NAR), and the delinquency-plus-foreclosure rate (LPS First Look). For each indicator, we compare this month’s data to (1) how bad the numbers got at their worst and (2) their pre-bubble “normal” levels.” It seems the fourth phase, described as when young adults finally start moving out of parents’ homes and begin to fuel new household formation, is still off in the distance. ##

(Photo Credit: Trulia’s Joe Kolko/Forbes)

Modular Home Sited over Neighborhood Objections

June 12th, 2013 Comments off

MHProNews has learned from brandoninfo the Brandon (Minn.) City Council has upheld the decision of the city’s Planning and Zoning Board of Adjustment to approve the siting of a modular home. Neighbors, claiming the residence will harm property values, had complained that the structure was a manufactured home and was not a new home as stipulated by city ordinance. Planning and zoning commissioner Bob Serk says he received written confirmation from the Minnesota housing authority that the home is modular, constructed by Dynamic Homes in 2005, and meets the same criteria and standards as site-built homes. Building inspector Dave Swier, admitting it is not new construction as noted on the application, says the fact that it is not a new home does not change his ruling.

(Photo credit: gainesville.com)

Government Releases Housing Data for First Time

January 11th, 2013 Comments off

MHProNews has learned the U.S. Census Bureau and the Dept. of Housing and Urban Development (HUD) have for the first time made public their findings on the quality of housing in the U.S., available on the Census Bureau’s American FactFinder. The survey of the nation’s 115 million households includes apartments, manufactured housing, single-family homes, new construction, and vacant housing units, and documents information about everything from sewage and value to mortgage, safety features and socioeconomic status of the occupants. Statistics include: The median year the homes were built is 1974; owner occupied single-family detached and manufactured homes’ median size is 1,800 square feet, while renters units are 1,300 square feet (newly constructed homes are 2,200 square feet); 71 residents have a high rating of their homes, while residents of newer constructed homes gave their homes an 84 rating; 52 percent of the homes surveyed have two or more bathrooms, and 83 percent have a washing machine; and households pay on average $927 a month for housing, while the median of new construction residents pay $1,340 a month—both take 24 percent of household income. To access the full report click here.

(Image credit: theatlanticcities)

Trulia: Home Prices Continue to Rebound

January 3rd, 2013 Comments off

HousingWire reports real estate data firm Trulia says home prices increased Dec. 2011 to Dec. 2012 5.1 percent, a distinct rebound from the 4.3 percent drop the previous year. In the largest annual increase to date, asking home prices rose 3.8 percent Dec. to Dec 2012. While Phoenix saw the largest increase in prices, at 26 percent year-over-year Dec., Las Vegas and Seattle had the most dramatic gains, each city having a ten percent-plus in asking prices. Likewise, rents have also risen, up 5.2 percent from 2011, with Houston, Oakland and Miami seeing the largest increases in that market. As MHProNews has learned, prices rose faster than rents in 17 of the largest 25 markets nationally. Jed Kolko, chief economist of Trulia, says “In 2013, rising prices will encourage more new construction and will encourage some homeowners to sell, which will help alleviate the current inventory shortage.”

(Image credit: HousingWire)

Millennials Looking at Homeownership

December 25th, 2012 Comments off

HousingWire reports a survey by Trulia revealed the Millennials, the 18-34 age group, were more optimistic than three older age groups that conditions will be conducive for them to purchase a home. ( See chart below.) MHProNews has learned the survey showed 31 percent of renters plan to buy a home, and 93 percent of Millennials see homeownership in their future. 43 percent of young adults are already homeowners. Jed Kolko, Trulia’s chief economist, says, “2013 could be the year that inventory turns around, just as 2012 was the year that prices started recovering. Homebuyers need inventory to choose from, and with fewer foreclosures on the market, new inventory will come from new construction or homeowners wanting to sell. Rising prices will bring out more sellers, especially if price increases lift them back above water.”

 

 

 

 

(Image credit: Fotosearch–Graphic credit: HousingWire)

 

 

 

Community Banks Still on the Sidelines

December 6th, 2012 Comments off

Many community banks are still weighed down by non-performing construction loans, so their regulators do not want them issuing new construction loans, especially since so many small banks sank when the housing bubble burst. Originationnews tells MHProNews with housing starts up 3.6 percent Oct. 2011 to Oct 2012, community banks on a limited scale are getting back into the fray, especially in areas where the inventory of new home construction is low and builders are financially strong. Many smaller banks have done well with refinancings recently, driven by low interest rates and federal programs, and may be reluctant to take the risk of construction loans. But as the recovery gains momentum, and residential refinancings fall, as many forecasters predict, the game may be back on.

(Image credit: Fotosearch)

Amphibious Homes Being Built in High-risk Flood Areas

September 12th, 2012 Comments off

PattayaDailyNews from Bangkok, Thailand in Southeast Asia tells MHProNews the National Housing Authority is utilizing modular components such as doors, walls, windows, and roofing supports, to build homes that can float during flooding. Due to global warming and rising seas, it is anticipated Bangkok will be partially or wholly underwater by the end of the century, and the government is beginning development to protect lives and property. A new construction process involves building a steel foundation to support a hollow framework, much like the hull of a ship, and when a flood arrives, the house will detach and float. Back-up systems for water cachement, as well as solar and wind power, will allow the homes to function if city utilities fail. Having modular components shipped to the site speeds up the construction process. The National Housing Authority has plans to begin developing amphibious communities in high-risk flooding areas.

(Photo credit: PattayaDailyNews—Amphibious house structure)

New Roof System Saves Energy Expense

September 11th, 2012 Comments off

GizMag reports a new roof and attic system developed by the Dept. of Energy that can be retrofitted to existing homes could save homeowners $100 a year, offsetting the $100 to $300 typically lost annually because of poorly sealed heating and cooling ducts that leak conditioned air into attics. Developed at the Oak Ridge National Laboratory (ORNL), the passive ventilation system moves air from the underbelly of the attic that normally goes into the house, and carries it up and out. Featuring a foil-covered polystyrene insulation that fits over and between rafters in new construction, or attached to a shingled roof on existing homes, the system also has controls for radiation and convection. MHproNews has learned the $2000 for installation is far less expensive than spray foam in reducing the average household’s energy consumption.

(Image credit: GizMag)

High Dollar Modular

July 10th, 2012 Comments off

The Boston Globe reports prefabricated housing, once thought of as somewhat lowly, is going upscale. A $2 million modular home in Wellesley, Massachusetts boasts four bedrooms, granite marble kitchen, mahogany floors, six bathrooms, second-floor decks, and a spacious living room with fireplace in the 5,900 square foot home. Haven Custom Homes of Selinsgrove, PA shipped the home in modules to the site. The general contractor for the house is planning a $3 million modular home also in Wellesley. The National Association of Home Builders (NAHB) says modular homes account for 2.5 percent of all new construction, and notes that in 2010 a factory-built house averaged $138,125 as compared to $204,533 for a site-built home. As we at MHProNews know, as additional MH and MOD homes go up in higher end neighborhoods, the stigma long associated with factory-built homes begins to disappear.

(Photo credit: Suzanne Kreiter/The Boston Globe)