Useful Links to Monitor Economic & Housing Trends

The following are links to useful information from government agencies and NAHB that will enable you to monitor the housing market.

To access the latest information available, simply click the links.

Housing starts, sales and interest rate projections through 2009.

Contains current and historical data on fixed and adjustable mortgage rates. Updated weekly.

Highlights the latest data on new-home characteristics released by the U.S. Census Department. Includes links to the complete Census report and other trends researched by NAHB.

Additional breakouts of this data and other trends researched by NAHB are available at www.nahb.org/constructionstats under “Selected Characteristics of New Housing” (dated 4/3/2008).

Housing Starts
Updated monthly and based on a seasonally adjusted annual rate.
New and Existing Home Sales
Updated monthly and based on a seasonally adjusted annual rate.
New and Existing Single-Family Median Home Prices Updated monthly.
Home Price Index
The index measures average home appreciation in more than 250 metropolitan markets. Updated quarterly.
Metro Home Building Permits
Local and state data on housing construction rates. Updated monthly.
Employment Trends for Metro/State Markets
Provides metro and state employment data nationwide. Updated monthly.
Local Economic Impact of Housing
Shows how building 100 homes benefits a typical metropolitan area.
Home Building’s Direct Impact on the Economy
Housing’s Contribution to Gross State Product
Measures how much housing contributes to the economic output of each state.
Housing Market Statistics from HousingEconomics.com
Full array of statistical categories available to NAHB members, a limited number available to non-members.
In-Depth Analysis from HousingEconomics.com
Full array of analysis of factors affecting housing and the impact on the industry available to NAHB members, a limited number available to non-members.

Information Taken From HTA (Home Technology Alliance) Update from the NAHB (National Association of Home Builders) – http://www.nahbmonday.com/hometech/issues/2009-02-18/10.html.

The following are links to useful information about home sales and financing.

Loan Remodification
We are experts at working with banks to successfully modify the terms of your current mortgage loan.

NOW IS a Good Time to Invest in a Home in Louisiana!

Economists forecast that Louisiana will show growth and stability, while most of the other states show losses during this national recession period.

The United States will experience “a relatively shallow national recession lasting about one year, “ and during that time, Louisiana will have near level job growth in 2009 and a gain of 28,400 jobs in 2010 according to the Louisiana Economic Outlook.

(Report submitted in October, 2008 by LSU Economist Loren Scott, James A. Richardson, M. Dek Terell of LSU, E. J. Ourso College of Business)

According to the report, Louisiana has avoided problems in the housing crisis because the state’s banking industry did not get into the sub-prime loans that helped stall bank-to-bank lending.  Also, housing prices have not been artificially elevated in the state, thereby creating a housing bubble that burst in states like California, Florida and Nevada.

Investing in Real Estate is Historically One of the Safest Financial Investments.

Even in down markets, over the long term home prices still appreciate more than the stock market.  Homeownership can help you build long-term wealth.  On average, the value of a home nearly doubles every 10 years.  In fact, over the past three decades, home values have increased an average of more than 6% per year.*

(*figures obtained from the National Association of Realtors)

Interest Rates are Low.  Loans and Tax Credits are Available.  Selections are Great!

Because of the cool-down in the national real estate market, interest rates have been lowered to encourage activity.  Louisiana’s banks and lenders have available cash to loan to home buyers with good credit.  At the same time, qualified, first-time buyers can receive a $7,500 federal tax credit for a limited time.

Good Selection, Tax Credit, Low Interest Rates, & Loans Available – What is Stopping YOU from Buying a New Home Today?

If you would like to build or buy a new home, now IS a great time to do it in Louisiana.  Take advantage of the financial stability of the state’s housing market in these uncertain economic times.  You can benefit from knowing the facts.

Visit www.LAhomeownership.com for more information.

Consider the Reasons to Buy A New Home

Why Purchase a New Home?

Buying a new home is one of the smartest purchases you can ever make.

1. Tax Implications: One of the main reasons is that homeownership has many positive tax implications. Because of changes to the tax code passed in 1997, these tax implications are much more favorable for most homeowners today than in the past. Additionally, first time buyers also benefit from a special provision which allow them to withdraw up to $10,000.00 from their IRA accounts if the money is used for a downpayment on a home – penalty free.

2. Warranties: New homes usually come with a one-year warranty on workmanship and materials. Under the Louisiana Home Owners Warranty Law, new homes are also warranted for two years for mechanical (heating/cooling, electrical, etc.) and five years for structural/foundation. New homes also include manufacturers’ warranties on appliances, heating/cooling units and many others.

3. Low Maintenance Costs: New homes come with everything new, including appliances, carpeting and other features. People who buy older homes could find themselves paying for maintenance, repair and replacement from the day they move in. And most new homes come with siding, windows and trim that require little maintenance, saving their owners much hassle and expense.

4. Energy Efficient: New homes consume half as much energy as homes built prior to 1980. New homes have better windows, better heating and cooling equipment, better air filtration systems and better insulation. Energy efficiency benefits the environment, your health and your wallet.

5. Safety Features: Better heating systems, built-in smoke detectors, better equipped electrical power systems and better wiring systems all decrease the risk of fire in a new home. And new homes come with features such as safety glass, that reduces the risk of injury.

6. Low and Simplified Financing Opportunities: There is a broad range of affordable financing options.

7. Low Interest Rates: In 2002, interest rates are lower than ever. There was never a better chance than now to get the best “bang for your buck”. Affording your dream home is now easier than ever before.

8. Value: New homes have a long life expectancy; therefore, they have higher appraisal and more favorable resale values than older homes.

9. Health: Much has been learned about the health risks of certain home building products in recent years. For example,
asbestos and lead have been eliminated in building materials. New systems for controlling radon gas where it is a problem can now be installed.

10. Others: Home Site Selection, Light-enhancing and spacious floor plan options, a choice of interior and exterior finishing, amenities galore and size are just a few other pluses to add to this list.  But more than anything, the pride of new home ownership should really be at the top of this list. Purchasing a new home is the single largest investment most people will make in their entire life. Take your time to look at all of the selections, consider all of your financing options, decide on your location preference and then make your move into your new home and enjoy!