Snoqualmie Pass Real Estate, Mortgage, and the Economy – Seattle # 3 In Highest Construction Costs

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



THE FOUR U.S. CITIES WITH THE HIGHEST CONSTRUCTION COSTS

Average construction wages hit $100 per hour in New York City, according to a new study of global construction trends.




New York and San Francisco have taken over Zurich, Switerzland, as the most expensive cities in which to build, according to a new study that also shows the global effects of a shortage of construction labor.
Construction costs in New York are set to rise by 3.5 per cent over 2017, reflecting a major influx of real estate investment and surge in construction activity, according to the survey by professional services company Turner & Townsend. The International Construction Market Survey 2017 analyzes input costs – such as labor and materials – and charts the average construction cost for commercial and residential projects in 43 markets around the world.
Average costs in New York have hit $354 per square foot followed by San Francisco at $330 per square foot. Two other U.S. cities made the top ten: Seattle at $280 per square foot and Houston at $233 per square foot. In addition, construction price inflation in San Francisco and Seattle is forecast at 5 percent for the next twelve months – outstripping both a global average of 3.5 percent and national consumer price inflation.
In total, 58 percent of cities assessed by the study are identified as "warm, hot or overheating" – where the market is characterized by a high number of projects and intense competition for physical resources and labor that drives up prices.
Of the U.S. cities surveyed Seattle is categorized as overheating, while New York and San Francisco are considered hot. In the case of New York, Turner & Townsend points to major foreign real estate investment as contributing to the city’s boom in construction spending – which hit an all-time high of $42 billion in 2016.
North America has the highest labor costs of all the regions assessed within Turner & Townsend’s report –with average construction wages hitting $100 per hour in New York. This comes in the context of a global skills shortage for construction, with over half (24) of the 43 markets analyzed reporting labor shortages compared to 20 markets in 2016.
“In stark contrast to conditions in many other global regions, most U.S. cities are seeing a major construction boom – with investment in New York particularly hitting new highs and both San Francisco and Seattle set to see above country average inflation this year at 5 per cent price," says John Robbins, managing director USA, Turner & Townsend. “In common with the majority of developed economies, U.S. construction continues to suffer from an acute skills shortage which is driving up labor costs."
Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Seattle # 3 In Highest Construction Costs

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



THE FOUR U.S. CITIES WITH THE HIGHEST CONSTRUCTION COSTS

Average construction wages hit $100 per hour in New York City, according to a new study of global construction trends.




New York and San Francisco have taken over Zurich, Switerzland, as the most expensive cities in which to build, according to a new study that also shows the global effects of a shortage of construction labor.
Construction costs in New York are set to rise by 3.5 per cent over 2017, reflecting a major influx of real estate investment and surge in construction activity, according to the survey by professional services company Turner & Townsend. The International Construction Market Survey 2017 analyzes input costs – such as labor and materials – and charts the average construction cost for commercial and residential projects in 43 markets around the world.
Average costs in New York have hit $354 per square foot followed by San Francisco at $330 per square foot. Two other U.S. cities made the top ten: Seattle at $280 per square foot and Houston at $233 per square foot. In addition, construction price inflation in San Francisco and Seattle is forecast at 5 percent for the next twelve months – outstripping both a global average of 3.5 percent and national consumer price inflation.
In total, 58 percent of cities assessed by the study are identified as "warm, hot or overheating" – where the market is characterized by a high number of projects and intense competition for physical resources and labor that drives up prices.
Of the U.S. cities surveyed Seattle is categorized as overheating, while New York and San Francisco are considered hot. In the case of New York, Turner & Townsend points to major foreign real estate investment as contributing to the city’s boom in construction spending – which hit an all-time high of $42 billion in 2016.
North America has the highest labor costs of all the regions assessed within Turner & Townsend’s report –with average construction wages hitting $100 per hour in New York. This comes in the context of a global skills shortage for construction, with over half (24) of the 43 markets analyzed reporting labor shortages compared to 20 markets in 2016.
“In stark contrast to conditions in many other global regions, most U.S. cities are seeing a major construction boom – with investment in New York particularly hitting new highs and both San Francisco and Seattle set to see above country average inflation this year at 5 per cent price," says John Robbins, managing director USA, Turner & Townsend. “In common with the majority of developed economies, U.S. construction continues to suffer from an acute skills shortage which is driving up labor costs."
Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Seattle # 3 In Highest Construction Costs

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com



THE FOUR U.S. CITIES WITH THE HIGHEST CONSTRUCTION COSTS

Average construction wages hit $100 per hour in New York City, according to a new study of global construction trends.




New York and San Francisco have taken over Zurich, Switerzland, as the most expensive cities in which to build, according to a new study that also shows the global effects of a shortage of construction labor.
Construction costs in New York are set to rise by 3.5 per cent over 2017, reflecting a major influx of real estate investment and surge in construction activity, according to the survey by professional services company Turner & Townsend. The International Construction Market Survey 2017 analyzes input costs – such as labor and materials – and charts the average construction cost for commercial and residential projects in 43 markets around the world.
Average costs in New York have hit $354 per square foot followed by San Francisco at $330 per square foot. Two other U.S. cities made the top ten: Seattle at $280 per square foot and Houston at $233 per square foot. In addition, construction price inflation in San Francisco and Seattle is forecast at 5 percent for the next twelve months – outstripping both a global average of 3.5 percent and national consumer price inflation.
In total, 58 percent of cities assessed by the study are identified as "warm, hot or overheating" – where the market is characterized by a high number of projects and intense competition for physical resources and labor that drives up prices.
Of the U.S. cities surveyed Seattle is categorized as overheating, while New York and San Francisco are considered hot. In the case of New York, Turner & Townsend points to major foreign real estate investment as contributing to the city’s boom in construction spending – which hit an all-time high of $42 billion in 2016.
North America has the highest labor costs of all the regions assessed within Turner & Townsend’s report –with average construction wages hitting $100 per hour in New York. This comes in the context of a global skills shortage for construction, with over half (24) of the 43 markets analyzed reporting labor shortages compared to 20 markets in 2016.
“In stark contrast to conditions in many other global regions, most U.S. cities are seeing a major construction boom – with investment in New York particularly hitting new highs and both San Francisco and Seattle set to see above country average inflation this year at 5 per cent price," says John Robbins, managing director USA, Turner & Townsend. “In common with the majority of developed economies, U.S. construction continues to suffer from an acute skills shortage which is driving up labor costs."
Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – 4 Things First-time Homebuyers Need To Know

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com




4 things first-time homebuyers need to know

My wife and I are hoping to be first-time homebuyers this year. We'll likely blow our savings on the down payment and closing costs. What's the best way to handle the costs for home renovations? Private loan? Just wait a year or two for our savings to replenish some? --Brian & Emily, Jersey City

Congratulations on your adventure into becoming homeowners.
Buying a home is likely the biggest purchase you'll ever make, and it's not always an easy one.
Low inventory has pushed home prices up in cities throughout the country, giving sellers an advantage. Homes sell fast, bidding wars break out and offers above the asking price are common.
All of this means that buyers need to be on their game and have their finances in order before entering the market.
Here's what experts said first-time buyers need to know:
1. What you can actually afford
Before buyers start their house hunt, it's important they know how much they can afford to spend.
"Start with a plan," said Chantel Bonneau, a financial adviser at Northwestern Mutual. "Don't let your imagination take over and don't let what you see from friends' houses drive your budget."
Buyers should list out all of their monthly expenses. Don't forget to include items like groceries, transportation, and discretionary spending, like gym memberships and nights out.
 general rule of thumb is that housing costs shouldn't take up more than 30% of your before-tax income.
But experts said that the percentage can vary, especially if you have other debts, like student loans or car payments.
Spending too much on monthly housing payments can leave homeowners house poor, and unable to afford other expenses -- like saving for retirement.
"A home is not a good excuse to be reckless with the rest of your financial situation," said Bonneau.
In competitive markets, it's common for buyers to get pre-approved for financing to get a leg up. But experts said that just because a bank approves you for a certain amount, it doesn't mean that's what you should spend. Stick to a price limit you're comfortable with.
2. You need a buffer
While it may be tempting to throw everything you've got at your offer to stay competitive, experts recommended having at least some money left over after you close on a home.
"If buying a house takes your checking account down to $1,000, it's probably too expensive," said Bonneau.
Experts advised having at least three to six months in savings the day you become homeowners. One reason is that you'll need emergency savings now more than ever.
"You don't want a flat tire or a deductible on a medical plan to throw you into financial turmoil," said Bonneau. "When you are a homeowner, you have a lot more things that can go wrong."
If a home purchase leaves you with no liquidity, it might be worth considering waiting to increase your savings or lowering your price point, advised Neil Krishnaswamy, a certified financial planner with Exencial Wealth Advisors.
3. The true cost of owning a home
The down payment tends to be the biggest financial hurdle to owning a home, but there are many other costs that pop up along the way: appraisal, origination, credit report and notary fees can all add up.
And the costs don't stop just when the keys are handed over. There's the move, new furniture and costs like lawn care and utility payments that former renters might not be used to paying.
"I don't know if anyone truly understands the total cost of owning a home," said Krishnaswamy. "Things just continually come up that you want to do, either buy something to fill a room or fix or improve something. Most people underestimate the cost."
4. Renovations are not as seen on TV
Buying a fixer-up might allow you to snag a bigger home or afford one in a more desirable area, but experts warned there are huge risks.
"Know that it is always more expensive than what you are imagining ... or what you see on TV," said Bonneau.
If a home needs renovations, factor that into the total cost of buying, recommended Krishnaswamy.
A private loan is an option to finance the project, but can be difficult to secure, especially after just taking out a mortgage.
If your home appraises for more than you purchased it for, you could have the option of tapping your equity to help pay for renovations.
There are some mortgage options that include renovation expenses. For instance, 203k FHA loan allows homebuyers to finance the sale and rehabilitation on a single mortgage.
Another option is asking a friend or family member for a loan.
"If you are trying to secure the best low-rate loan, look at those closest to you, but be mindful of your relationship status if you can't pay back the loan," said Krishnaswamy.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Snoqualmie Pass Real Estate, Mortgage, and the Economy – 4 Things First-time Homebuyers Need To Know

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com




4 things first-time homebuyers need to know

My wife and I are hoping to be first-time homebuyers this year. We'll likely blow our savings on the down payment and closing costs. What's the best way to handle the costs for home renovations? Private loan? Just wait a year or two for our savings to replenish some? --Brian & Emily, Jersey City

Congratulations on your adventure into becoming homeowners.
Buying a home is likely the biggest purchase you'll ever make, and it's not always an easy one.
Low inventory has pushed home prices up in cities throughout the country, giving sellers an advantage. Homes sell fast, bidding wars break out and offers above the asking price are common.
All of this means that buyers need to be on their game and have their finances in order before entering the market.
Here's what experts said first-time buyers need to know:
1. What you can actually afford
Before buyers start their house hunt, it's important they know how much they can afford to spend.
"Start with a plan," said Chantel Bonneau, a financial adviser at Northwestern Mutual. "Don't let your imagination take over and don't let what you see from friends' houses drive your budget."
Buyers should list out all of their monthly expenses. Don't forget to include items like groceries, transportation, and discretionary spending, like gym memberships and nights out.
 general rule of thumb is that housing costs shouldn't take up more than 30% of your before-tax income.
But experts said that the percentage can vary, especially if you have other debts, like student loans or car payments.
Spending too much on monthly housing payments can leave homeowners house poor, and unable to afford other expenses -- like saving for retirement.
"A home is not a good excuse to be reckless with the rest of your financial situation," said Bonneau.
In competitive markets, it's common for buyers to get pre-approved for financing to get a leg up. But experts said that just because a bank approves you for a certain amount, it doesn't mean that's what you should spend. Stick to a price limit you're comfortable with.
2. You need a buffer
While it may be tempting to throw everything you've got at your offer to stay competitive, experts recommended having at least some money left over after you close on a home.
"If buying a house takes your checking account down to $1,000, it's probably too expensive," said Bonneau.
Experts advised having at least three to six months in savings the day you become homeowners. One reason is that you'll need emergency savings now more than ever.
"You don't want a flat tire or a deductible on a medical plan to throw you into financial turmoil," said Bonneau. "When you are a homeowner, you have a lot more things that can go wrong."
If a home purchase leaves you with no liquidity, it might be worth considering waiting to increase your savings or lowering your price point, advised Neil Krishnaswamy, a certified financial planner with Exencial Wealth Advisors.
3. The true cost of owning a home
The down payment tends to be the biggest financial hurdle to owning a home, but there are many other costs that pop up along the way: appraisal, origination, credit report and notary fees can all add up.
And the costs don't stop just when the keys are handed over. There's the move, new furniture and costs like lawn care and utility payments that former renters might not be used to paying.
"I don't know if anyone truly understands the total cost of owning a home," said Krishnaswamy. "Things just continually come up that you want to do, either buy something to fill a room or fix or improve something. Most people underestimate the cost."
4. Renovations are not as seen on TV
Buying a fixer-up might allow you to snag a bigger home or afford one in a more desirable area, but experts warned there are huge risks.
"Know that it is always more expensive than what you are imagining ... or what you see on TV," said Bonneau.
If a home needs renovations, factor that into the total cost of buying, recommended Krishnaswamy.
A private loan is an option to finance the project, but can be difficult to secure, especially after just taking out a mortgage.
If your home appraises for more than you purchased it for, you could have the option of tapping your equity to help pay for renovations.
There are some mortgage options that include renovation expenses. For instance, 203k FHA loan allows homebuyers to finance the sale and rehabilitation on a single mortgage.
Another option is asking a friend or family member for a loan.
"If you are trying to secure the best low-rate loan, look at those closest to you, but be mindful of your relationship status if you can't pay back the loan," said Krishnaswamy.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Snoqualmie Pass Real Estate, Mortgage, and the Economy – 4 Things First-time Homebuyers Need To Know

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com




4 things first-time homebuyers need to know

My wife and I are hoping to be first-time homebuyers this year. We'll likely blow our savings on the down payment and closing costs. What's the best way to handle the costs for home renovations? Private loan? Just wait a year or two for our savings to replenish some? --Brian & Emily, Jersey City

Congratulations on your adventure into becoming homeowners.
Buying a home is likely the biggest purchase you'll ever make, and it's not always an easy one.
Low inventory has pushed home prices up in cities throughout the country, giving sellers an advantage. Homes sell fast, bidding wars break out and offers above the asking price are common.
All of this means that buyers need to be on their game and have their finances in order before entering the market.
Here's what experts said first-time buyers need to know:
1. What you can actually afford
Before buyers start their house hunt, it's important they know how much they can afford to spend.
"Start with a plan," said Chantel Bonneau, a financial adviser at Northwestern Mutual. "Don't let your imagination take over and don't let what you see from friends' houses drive your budget."
Buyers should list out all of their monthly expenses. Don't forget to include items like groceries, transportation, and discretionary spending, like gym memberships and nights out.
 general rule of thumb is that housing costs shouldn't take up more than 30% of your before-tax income.
But experts said that the percentage can vary, especially if you have other debts, like student loans or car payments.
Spending too much on monthly housing payments can leave homeowners house poor, and unable to afford other expenses -- like saving for retirement.
"A home is not a good excuse to be reckless with the rest of your financial situation," said Bonneau.
In competitive markets, it's common for buyers to get pre-approved for financing to get a leg up. But experts said that just because a bank approves you for a certain amount, it doesn't mean that's what you should spend. Stick to a price limit you're comfortable with.
2. You need a buffer
While it may be tempting to throw everything you've got at your offer to stay competitive, experts recommended having at least some money left over after you close on a home.
"If buying a house takes your checking account down to $1,000, it's probably too expensive," said Bonneau.
Experts advised having at least three to six months in savings the day you become homeowners. One reason is that you'll need emergency savings now more than ever.
"You don't want a flat tire or a deductible on a medical plan to throw you into financial turmoil," said Bonneau. "When you are a homeowner, you have a lot more things that can go wrong."
If a home purchase leaves you with no liquidity, it might be worth considering waiting to increase your savings or lowering your price point, advised Neil Krishnaswamy, a certified financial planner with Exencial Wealth Advisors.
3. The true cost of owning a home
The down payment tends to be the biggest financial hurdle to owning a home, but there are many other costs that pop up along the way: appraisal, origination, credit report and notary fees can all add up.
And the costs don't stop just when the keys are handed over. There's the move, new furniture and costs like lawn care and utility payments that former renters might not be used to paying.
"I don't know if anyone truly understands the total cost of owning a home," said Krishnaswamy. "Things just continually come up that you want to do, either buy something to fill a room or fix or improve something. Most people underestimate the cost."
4. Renovations are not as seen on TV
Buying a fixer-up might allow you to snag a bigger home or afford one in a more desirable area, but experts warned there are huge risks.
"Know that it is always more expensive than what you are imagining ... or what you see on TV," said Bonneau.
If a home needs renovations, factor that into the total cost of buying, recommended Krishnaswamy.
A private loan is an option to finance the project, but can be difficult to secure, especially after just taking out a mortgage.
If your home appraises for more than you purchased it for, you could have the option of tapping your equity to help pay for renovations.
There are some mortgage options that include renovation expenses. For instance, 203k FHA loan allows homebuyers to finance the sale and rehabilitation on a single mortgage.
Another option is asking a friend or family member for a loan.
"If you are trying to secure the best low-rate loan, look at those closest to you, but be mindful of your relationship status if you can't pay back the loan," said Krishnaswamy.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Snoqualmie Pass Real Estate, Mortgage, and the Economy – 4 Things First-time Homebuyers Need To Know

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com




4 things first-time homebuyers need to know

My wife and I are hoping to be first-time homebuyers this year. We'll likely blow our savings on the down payment and closing costs. What's the best way to handle the costs for home renovations? Private loan? Just wait a year or two for our savings to replenish some? --Brian & Emily, Jersey City

Congratulations on your adventure into becoming homeowners.
Buying a home is likely the biggest purchase you'll ever make, and it's not always an easy one.
Low inventory has pushed home prices up in cities throughout the country, giving sellers an advantage. Homes sell fast, bidding wars break out and offers above the asking price are common.
All of this means that buyers need to be on their game and have their finances in order before entering the market.
Here's what experts said first-time buyers need to know:
1. What you can actually afford
Before buyers start their house hunt, it's important they know how much they can afford to spend.
"Start with a plan," said Chantel Bonneau, a financial adviser at Northwestern Mutual. "Don't let your imagination take over and don't let what you see from friends' houses drive your budget."
Buyers should list out all of their monthly expenses. Don't forget to include items like groceries, transportation, and discretionary spending, like gym memberships and nights out.
 general rule of thumb is that housing costs shouldn't take up more than 30% of your before-tax income.
But experts said that the percentage can vary, especially if you have other debts, like student loans or car payments.
Spending too much on monthly housing payments can leave homeowners house poor, and unable to afford other expenses -- like saving for retirement.
"A home is not a good excuse to be reckless with the rest of your financial situation," said Bonneau.
In competitive markets, it's common for buyers to get pre-approved for financing to get a leg up. But experts said that just because a bank approves you for a certain amount, it doesn't mean that's what you should spend. Stick to a price limit you're comfortable with.
2. You need a buffer
While it may be tempting to throw everything you've got at your offer to stay competitive, experts recommended having at least some money left over after you close on a home.
"If buying a house takes your checking account down to $1,000, it's probably too expensive," said Bonneau.
Experts advised having at least three to six months in savings the day you become homeowners. One reason is that you'll need emergency savings now more than ever.
"You don't want a flat tire or a deductible on a medical plan to throw you into financial turmoil," said Bonneau. "When you are a homeowner, you have a lot more things that can go wrong."
If a home purchase leaves you with no liquidity, it might be worth considering waiting to increase your savings or lowering your price point, advised Neil Krishnaswamy, a certified financial planner with Exencial Wealth Advisors.
3. The true cost of owning a home
The down payment tends to be the biggest financial hurdle to owning a home, but there are many other costs that pop up along the way: appraisal, origination, credit report and notary fees can all add up.
And the costs don't stop just when the keys are handed over. There's the move, new furniture and costs like lawn care and utility payments that former renters might not be used to paying.
"I don't know if anyone truly understands the total cost of owning a home," said Krishnaswamy. "Things just continually come up that you want to do, either buy something to fill a room or fix or improve something. Most people underestimate the cost."
4. Renovations are not as seen on TV
Buying a fixer-up might allow you to snag a bigger home or afford one in a more desirable area, but experts warned there are huge risks.
"Know that it is always more expensive than what you are imagining ... or what you see on TV," said Bonneau.
If a home needs renovations, factor that into the total cost of buying, recommended Krishnaswamy.
A private loan is an option to finance the project, but can be difficult to secure, especially after just taking out a mortgage.
If your home appraises for more than you purchased it for, you could have the option of tapping your equity to help pay for renovations.
There are some mortgage options that include renovation expenses. For instance, 203k FHA loan allows homebuyers to finance the sale and rehabilitation on a single mortgage.
Another option is asking a friend or family member for a loan.
"If you are trying to secure the best low-rate loan, look at those closest to you, but be mindful of your relationship status if you can't pay back the loan," said Krishnaswamy.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com


Snoqualmie Pass Real Estate, Mortgage, and the Economy – Homebuilders Look To Starter Homes

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Homebuilders switch gears, look to starter homes

Begin move away from luxury homes

Nearly all major builders are making this shift as Millennials, the newest generation of homebuyers who were born from the early 1980s to mid 1990s, increase their presence in the market, according to the article.
From the article:
“There’s an increasing confidence level in that part of the market,” said Gregg Nelson, co-founder of California home builder Trumark Cos. “The recovery is finally starting to take hold in a broader way.”
While the share of first-time buyers fell to a 30-year low in 2015 of 32%, that number increased in 2016 to 35%, according to the article. The historic average of the share of first-time buyers sets a bit higher at 40%.
From the article:
The housing recovery has been divided, as the luxury market has soared in recent years while the more affordable end of the market has struggled to make up for lost ground. Tough lending standards, slow wage growth, growing student-debt obligations and a newfound fear of ownership have combined to crimp demand among millennials in particular. The return of the starter-home market means the housing bifurcation is finally starting to narrow.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Homebuilders Look To Starter Homes

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Homebuilders switch gears, look to starter homes

Begin move away from luxury homes

Nearly all major builders are making this shift as Millennials, the newest generation of homebuyers who were born from the early 1980s to mid 1990s, increase their presence in the market, according to the article.
From the article:
“There’s an increasing confidence level in that part of the market,” said Gregg Nelson, co-founder of California home builder Trumark Cos. “The recovery is finally starting to take hold in a broader way.”
While the share of first-time buyers fell to a 30-year low in 2015 of 32%, that number increased in 2016 to 35%, according to the article. The historic average of the share of first-time buyers sets a bit higher at 40%.
From the article:
The housing recovery has been divided, as the luxury market has soared in recent years while the more affordable end of the market has struggled to make up for lost ground. Tough lending standards, slow wage growth, growing student-debt obligations and a newfound fear of ownership have combined to crimp demand among millennials in particular. The return of the starter-home market means the housing bifurcation is finally starting to narrow.

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Snoqualmie Pass Real Estate, Mortgage, and the Economy – Homebuilders Look To Starter Homes

Snoqualmie Pass Real Estate, Snoqualmie Pass Properties, Snoqualmie Pass Homes, Snoqualmie Pass Lots, North Bend Real Estate, Snoqualmie Real Estate, Suncadia Real Estate, http://www.snoqualmiepassliving.com

Homebuilders switch gears, look to starter homes

Begin move away from luxury homes

Nearly all major builders are making this shift as Millennials, the newest generation of homebuyers who were born from the early 1980s to mid 1990s, increase their presence in the market, according to the article.
From the article:
“There’s an increasing confidence level in that part of the market,” said Gregg Nelson, co-founder of California home builder Trumark Cos. “The recovery is finally starting to take hold in a broader way.”
While the share of first-time buyers fell to a 30-year low in 2015 of 32%, that number increased in 2016 to 35%, according to the article. The historic average of the share of first-time buyers sets a bit higher at 40%.
From the article:
The housing recovery has been divided, as the luxury market has soared in recent years while the more affordable end of the market has struggled to make up for lost ground. Tough lending standards, slow wage growth, growing student-debt obligations and a newfound fear of ownership have combined to crimp demand among millennials in particular. The return of the starter-home market means the housing bifurcation is finally starting to narrow.

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