With housing affordability (reedconstructiondata.com/news/2008/12/housing-affordability-improves-but-will-not-boost-home-sales) improving and mortgage rates (mysanantonio.com/business/81017677.html) hovering near historic lows, the timing is right for purchasing a new home. And in this buyer’s market, there are a lot of options to consider. But before settling on the style and number of bedrooms, you’ll want to consider the different segments of the housing market.

“Resale” homes represent the largest percentage of the market. Constructed years, or even decades ago, these houses reflect the needs and the tastes of previous owners. They may be outfitted with outdated fixtures and technologies, and have deteriorating construction. Buyers of these homes often fall in love with them for their character, their location or their “good-enough” fit with their needs, and accept the necessity of investing additional time and resources in renovation and restoration.

“Spec” homes are built based on the speculation that a buyer can be found during or shortly after construction. These new homes may be designed with up-to-date floor plans and features to accommodate current preferences. When purchased before completion, a buyer may be able to select some finishing touches. But this type of home construction may also be designed to minimize cost and maximize profit for the home builder, potentially leaving homeowners with less than premium materials and designs that are not as contemporary.

“Custom” homes are built according to the buyer’s specifications, usually on land they already own. While this type of new home construction represents only ten percent of the market, it gives the homeowner the most control. Working with an “on your lot” custom home builder, the buyer determines all facets of home construction—from site selection to the home’s style, size and floor plan, types of windows and doors, flooring and siding, and all the details—cabinets, lighting fixtures, drawer pulls, paint colors, etc.

While “on your lot” home builders are often considered large home builders, they can also accommodate today’s trend towards “right-sizing”. (blogs.consumerreports.org/home/2009/02/rightsizing-mcmansion-mortgage-meltdown-gopal-ahluwalia.html?INTKEY=I95BOE0) These days a custom home builder may work on smaller homes starting around 1000 square feet. Benefits include keeping material and labor costs to a minimum (potentially in the low $100,000 range), and customizable floor plans.

In keeping with cost-consciousness and “green” lifestyles, another benefit of working closely with a new custom home builder is the opportunity to incorporate the latest energy- and resource-efficient products and trends. According to the National Association of Home Builders (NAHB), “Today’s homes are built twice as energy efficient as new homes a generation ago, making them more affordable (nahb.org/fileUpload_details.aspx?contentTypeID=3&contentID=104677&subContentID=249116) to own and operate.” The latest in energy-efficient materials¹ include windows with low-emittance (low-E) glass coatings, upgraded insulation, high efficiency HVAC systems, house wraps and tight construction.

Federal tax credits for Consumer Energy Efficiency² may also be available for new home construction, covering 30% of the cost of materials and labor for systems such as geothermal heat pumps, solar water heaters, solar panels and residential fuel cells. Note that in order to qualify, these systems must be placed in service before the end of 2016.

An added bonus for those considering purchases of custom homes—”Current costs (hbrnetwork.com/building-materials/construction-costs-profits-both-down-from-peak-levels.aspx) of building a new home are relatively low,”—according to Jason Dickens, president of the Athens Area Homebuilders Association. 2009 lumber and other material prices have dropped considerably when compared to 2005. “Right now is a very good time to build a house.”

So, while the purchase of an existing “resale” or “spec” home will more than likely entail some compromises, a custom home is a cost-effective investment that offers incomparable rewards in function, esthetics and satisfaction—and the fulfillment of owning the home of your dreams.

In recent decades, the Puerto Vallarta Real Estate area has grown from a small town on the beach, into a complete and thriving metropolitan, offering many excellent Mexico Condo opportunities, as well as beautiful villas with views of the bay and the surrounding mountains. As the city has grown, so has the number of American and Canadian retirees living in Puerto Vallarta; currently it is one of the larges Mexico Retirement communities, with a expat population of more than 50,000.

There are many reasons why Puerto Vallarta has been chosen by so many retirees as their new home; near perfect weather, which has an average temperature of about 72º, beautiful beaches, and amazing views are a few of the top motivations. Another factor equally important is the convenience of living in a city that has all the conveniences and services a retiree may need. As the city has grown, and condos have sprouted up all across town, infrastructure has also been planned, expanded and improved to meet the needs of the new population. Roads are extensive an in excellent condition; modern hospitals with the newest equipment offer excellent health care. (more…)

Buying a business for sale by owner is not a decision that should be taken lightly, not only is it a huge investment in terms of money it is also a big investment of time, skills, and knowledge. While there are thousands of businesses in the offering, deciding on which one to put your money requires time and research to make a good business decision.

Do a through research; find the business you would be interested in, and all other information you need to know before signing on the dotted line.

Here are some questions you need to ask yourself before you begin your search: (more…)

It seems that each time there’s a major downturn in the economy, housing takes a big hit and more folks turn to rentals for their housing desires. This recession has been no different, which makes it the perfect environment for a stockholder to buy properties for rental. Sadly, buying properties to rent isn’t so simple as it sounds, as there are a number of common pitfalls along the path that can result in the loss of your investment capital.

Just because there are an incredible number of well-priced investment opportunities, that doesn’t suggest you can achieve success without researching the method correctly. The Net is a perfect source for information that will help you make better informed decisions about your investment strategy. In addition, there are TV programs, seminars, and real estate events that will provide valuable info for you. Having a correct budget can be the firewall that forestalls you from overspending, and can also reveal further opportunities for savings. (more…)

During the two government administrations of Mexico’s PAN party, the presidents – first Vicente Fox, now Felipe Calderon – have shown their dedication to creating an economic environment favorable to foreign investment, and, consequently to foreign buyers of Mexico Real Estate. Late in August, President Calderon announced that in the three final years of his administration, all necessary measures would be taken to put the economy back on an upward track, putting the economy in a better position to face the challenges of today.

Calderon personally represented his stance by participating in events such as the grand opening of Costco in a community in the state of Hidalgo. At the event he reassured that his government would do everything necessary to draw foreign investment to Mexico, as well as promote domestic investment.

Investment is the magic word in job creation and growth, stated the president. For this reason, Calderon reiterated that his government will continue to provide security to those who invest their resources in Mexico Real Estate and other sectors of this country’s economy. He indicated that they would continue the task of removing insecurity – a task in which they have already take various key steps. The president said that nowadays Mexico has to redouble its efforts take the steps necessary in moving forward, out of the recession. (more…)

Three regions of the Mexico Real Estate market receive good news this week from the Federal Secretary of Tourism (SECTUR). The long awaited beach recovery project looks to be nearly 98% approved with only the final authorization being awaited from the (SEMANART), which is the Secretary of Environment and Natural Resources.

Several private companies have been waiting for the announcement of who won the contract to begin the project along Cozumel beachfront properties, in Playa del Carmen, and as well in the Cancun region. The joint venture project made up of the company Mexicana de Dragados and the company Codralux were given the winning nod on an announcement made Tuesday afternoon. In our Mexico real estate blog, we have been making updates on the progress of this Cancun Beach Recovery Project. (more…)

We all know that Cancun real estate is beautiful – luxury condos on a perfectly white beach, with the turquoise blue ocean. But can you imagine what Cancun would look like from space? In a live interview broadcast today that the Televisa network. Mexican astronaut Jose Hernandez, part of the mission on U.S. space shuttle Discovery, said that the waters of Cancun are “extremely beautiful” even from space.

The U.S. space shuttle Discovery landed at dawn on Sunday 30 August at the International Space Station, two days after leaving Earth with seven astronauts on board for a 13-day mission.

1. NASA says that it is the first interview in history live from space, made from a communication base in Latin America. Hernandez said that one of the things that surprised him most is seeing the world as a unit, without borders. (more…)

These days, the Puerto Vallarta real estate area is a thriving market in metropolitan area of over 600,000. Sixty years ago, very few imagined that Puerto Vallarta would some day experience a boom of international tourism, and expand into the thriving real estate market we know today. The history of one of the city’s key landmarks – Hotel Rosita – marks a special point in the history of Puerto Vallarta. At the time it was built, accommodations in the area were limited to a few rooms in some homes that were offered to travelers; but the vision of one man named Salvador Gonzalez Gutierrez began the formal hotel industry in Puerto Vallarta with the founding of Hotel Rosita in 1948.

Initially only 12 rooms were built, which included one or two beds, a chair and a small dresser with mirror and bathroom. In those days there was no electricity in the village, so at check in each guest was provided with a lamp to light the room. For the water supply each room had a 50 gallon drum, from which the guest drew water directly, without any pipes. (more…)

Buying property is probably the most expensive purchase you will ever make. Starting the process is often daunting, but by choosing the right location, size and time as well as ensuring quality and affordability, you will reduce the chances of making costly mistakes. Keep the following in mind when buying a property:

1. Location

The location of a property might possibly be the single most important aspect to consider when purchasing a house. How many times have you heard the saying that buying the right property in the wrong neighbourhood is worst than buying the wrong property in the right neighbourhood? The importance of your choice of location lies in the fact that once you’ve purchase the property, the location is the only factor that you can’t change. It is therefore extremely important to make the right decision. (more…)

Short sales have the potential of being long, complicated and frustrating. However, if you take the time to plan and focus on the steps you need to take to make it successful then a short sale can end up being a great deal of all parties involved. One of the most important things to remember when going into a short sale is to be patient. It can take sixty to ninety days to get a short sale going, but if the right deal comes around it can be well worth the wait. Before you decide to go ahead with a short sale whether you are the buyer, lender, or property owner, always make sure you have expert assistance so that everything runs smoothly. Short sales can be tricky especially if you are not familiar with buying and selling property.

Step one to a successful short sale is contacting the lender. This should be done as soon as possible because it can take a lengthy amount of time to get the lenders approval. Quite often a lender will not even look at your case until you have an offer to negotiate. It is still important to contact the lender first thing, to make sure you know exactly what they will require before looking at your sale. Sometimes they will have a list for you of all the forms they will need to look at your short sale, and to negotiate a decision. Since this process can take awhile it is smart to have everything ready to go when the time comes to present your short sale to the lender. (more…)