Low rates? The national average for 15 and 30 year rates are still at historical lows (www.bankrate.com). And contrary to what you may be hearing, banks are lending.
Low prices? New construction prices are down. With a drop in material and labor prices, our average price per square foot for a new home has fallen over the past few years. Not to mention, builders are anxious to sign new deals. Therefore, most have dropped their markup and reduced company overhead in an effort to get new clients under contract.
Tax credits? As most of you probably know, Congress recently extended the Home Buyer Tax Credit (http://www.federalhousingtaxcredit.com/). Not only did they extend the previous tax credit, but
they included a very important additional credit for qualified repeat buyers for up to $6,500.00. And yes, the credits can be used to construct a new home.So now you know. It actually is a great time to build a new home. For more information on our custom design-build options or to set up your no obligation design or construction consultation, please visit our website at www.cummingsconstruction.com or call us at 910.814.3232.
