It is our goal at The Parks at Plaquemines to keep our buyers informed about the latest information from the local, state-level, and national real estate industry. We post content to our blog that we hope that you as our custom home buyer will find helpful. Look here for information about financing your new home, building restrictions for new homes, and real estate legislation that will impact you as you are looking to buy or build a new home in the Greater New Orleans area.

2021 New American Home Has 4 Green Strategies To Follow

The New American Home 2021 is located in Winter Park, Florida and is the official show home of the NAHB International Builders’ Show® (IBS). The home conveniently located in the downtown area close to restaurants, shops, and parks.

This single-family three-story home incorporates innovative technology and current trends in a high-end, sophisticated setting. The design and construction of the home follows the National Green Building Standard “Emerald” certification, Energy Star, and net-zero status.

“Building green does not need to be more difficult or extremely costly,” said Drew Smith, NGBS Green Master Verifier of Two Trails, Inc. who oversaw the NGBS Green Emerald Level certification for both homes. “Finding what makes sense for you and your clients is the best way to deliver a high-performance certified project.”

This home features four high-performance strategies that can be added to any new construction or renovation.

1. Tight Thermal Envelope

This will basically reduce hot or cold air from seeping in from the exterior walls of your home. By doing this, you will lower utility bills and make your living space more comfortable. The thermal envelope of your home includes wall and roof assemblies, insulation, air/vapor retarders, windows, and weatherstripping and caulking. Make sure to use a higher insulation value in the walls and attic spaces of your home. Use windows that have Low-E coating that will reduce the amount of solar heat that comes in through the windows and are filled with argon gas which keeps airtightness. Exterior concrete masonry unit (CMU) walls filled with corefill foam/reflective insulation are a good way to keep a layer in between the inside of your home and the outdoor elements.

2. Indoor Air Quality (IAQ) and Comfort

This is the air quality that is in your home as it relates to the health and comfort of those living in the home. An indoor space must have fresh air exchange and proper ventilation. Pollutants found in your home range from oil, gas, kerosene, coal, wood, tobacco products, building materials (damp carpet or pressed wood), household cleaners, HVAC, radon, pesticides and outdoor air pollution. The home should be able to have proper ventilation along with the ability to maintain relative humidity. A good way to do this is by using bath fans and kitchen range hoods. For the HVAC system use MERV 13 space conditioning air filters. When painting or caulking in the home use Low/no volatile organic compounds (VOCs). Furniture, appliances and building materials should be composed of healthy, eco-friendly finishes.

3. Above-Code Energy Efficiency

The U.S. Department of Energy has energy codes that builders must follow. These codes establish minimum energy efficiency requirements for new construction and renovations. New homes built above the standard code can reduce energy consumption by 40% and will not have much higher construction costs. When building a new home or renovating use a tight envelope, correct sized HVAC-R systems for your home, 100% LED lighting exterior/interior, ENERGY STAR appliances and smart home technology for lighting control and climate control.

4. Above-Code Water Efficiency

Water efficiency is based on how we use our water resources. The goal is to reduce our use through water-saving technologies. Simple steps such as fixture choices, plumbing layout design, landscape design, and smart (or no) irrigation can help achieve water efficiency. Choose EPA WaterSense®  labeled plumbing fixtures. When it comes to hot water, use a tankless water heater with insulated water lines and on-demand hot water recirculating pumps. For landscaping use Indigenous landscaping with a minimum of turfgrass and for irrigation use micro-spray, driplines and programmable controllers.

These are just a few steps that you can take to make your home greener. A green home will be a more comfortable and healthy environment to live in as well as a money saver on utilities.

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New Home Sales Rise the First Month of 2021

The Census Bureau and HUD reported a 4.3% increase in January for new single-family home sales to a 923,000 seasonally adjusted annual rate. January sales overall saw a rate of 19.3% higher than January 2020.

The increase comes from the current housing demand as homeowners are still spending the majority of their time in their homes. Lower interest rates still also play a part but according to data gathered,  Housing affordability headwinds will increase in 2021, due to price growth and mortgage rates trending higher.

As for inventory, it is still lagging behind. In January sales-adjusted inventory levels were at a 4 months’ supply. January 2021 saw a 5.5% lower increase in count than a year ago. For new home inventory that has not started yet has increased 45% over the last year from 56,000 to 81,000.

The higher cost for building materials has caused a rise in housing affordability coming into 2021. The media sales price at the beginning of the year saw a 5.3% gain for just a year ago to $346,000.

If you are in the market are considering purchasing a home, now is a good time before prices and mortgage rates rise. A smart move is to contact a Realtor in your area who can help you find the right home for you.

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More 2021 Buyers Want a Newly-Built Home

The National Association of Home Builders’ Housing Trends Report for the final quarter of 2020 shows a dramatic increase in buyers’ interest in new construction homes. The report revealed that 41% of prospective buyers were looking for a newly-built home which is more than twice the percentage reported in 2019.

The NAHB Economics team researches and produces the Housing Trends Report each quarter. The team surveys and measures prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets. The HTR is produced quarterly to track changes in buyers’ perceptions over time. All data are derived from national polls of representative samples of American adults conducted for NAHB by Morning Consult.

According to the report, Q419 looks very different from Q420 when it comes to the type of home buyers are looking for. In 2019 40% of homebuyers wanted an existing home, this decreased to 30% in 2020. Those buyers who would purchase a new or existing home fell from 41% in 2019 to 29% in 2020. For new homes in 2019, only 19% of buyers said they would just purchase a new construction home while in 2020 buyers who saught only new construction rose to 41%.

As far as the data broken down by generations, 50% of millennials are looking for a new construction build while 50% of baby boomers prefer to purchase an existing home. Out of the Gen X buyers, 48% prefer a new construction home while 38% of Gen Z buyers want to purchase an existing home.

The report also shows a difference in preferences in each region of the country. Most potential buyers in the Northeast (53%) and the West (51%) are looking for a new build. In the South only 33% preferred a new construction home and in the Midwest only 24%.

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Perks in the Housing Market For Present-Day Buyers and Sellers

The current housing market offers perfect opportunities for both buying and selling a home. In today’s market, there are a couple of perks for both home buyers and sellers that are hardly ever available.

This is a perfect time to purchase a home because of the historic low mortgage rates. The average mortgage interest rate has hit an all-time low. In fact, it is the lowest in the history of the Freddie Mac survey which dates back to 1971. Today’s buyers can actually obtain a mortgage rate lower than the past two generations of homebuyers.

“Purchasing power rose 10% year-over-year…With interest rates hitting record lows, buyers were able to afford $32,000 “more house” as of July 23 than they could the year before with the same monthly payment,” according to the National Mortgage News.

Buyers will not only save money on a home, but they will have the opportunity to get more home for the money. This is especially appealing with today’s pandemic pushing work from home. Homeowners are re-evaluating the amount of space they need in a home.

As for current sellers in the market, the low inventory has definitely been an advantage. According to the National Association of Realtors (NAR) the inventory of homes coming into the market continues to decline.  Even before the pandemic hit, the inventory was low. In today’s market, houses are selling faster than they are being listed.

Bidding wars are the norm now. The fuel of low mortgage rates and low inventory is pushing buyers into bidding wars.

“Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply,” says Lawrence Yun, Chief Economist for NAR.

If you are in the market for a home or want to sell your current home, now is the time. Contact a Realtor in your area who can help you through the process.

Click Here For the Source of the Information.

Three Things Home Owners Desire for Quality of Life at Home

The pandemic has shifted the things we want in a home. Homebuyers are looking for comfort, wellness and efficiency. According to the 2020 Green Smart Market Brief, high-performance homes are on the rise.

A good resource for consumer’s high-performance must-haves when it comes to building or remodeling a home can be found in National Green Building Standard® (NGBS)’s Bronze Cookbooks. The NGBS Bronze cookbooks give a roadmap to what is used and incorporated into a NGBS Green Certified home.

Below are the top 3 home qualities customers are looking for in today’s housing market.

Customer Want: Comfort High-Performance Strategies
No drafts
  • Continuous building envelope (confirm with a blower door test)
  • Weatherstripping around windows and doors
Consistent indoor temperatures
  • Smart thermostat
  • Weatherstripping around windows and doors
  • Continuous building envelope (confirm with a blower door test)
  • High R-value insulation in floors, walls and ceilings
Quiet

 

Customer Want: Wellness High-Performance Strategies
Healthy indoor environment
  • Balanced ventilation
  • Fresh air intakes
  • Kitchen range hood that vents directly outdoors
  • Bathroom exhaust fans
  • HVAC filtration — high-efficiency particulate air (HEPA) or high MERV rating
  • Low volatile organic compound (VOC) materials
No odors
  • Kitchen range hood that vents outdoors
  • Balanced ventilation
  • Low VOC materials
No mold
  • Bathroom exhaust fans that vent outdoors
  • HVAC systems with sensors and automation
  • Moisture-resistant barrier in building envelope
  • Leak detection system
Natural light
  • Double- or triple-pane window with lower solar heat gain coefficient (SHGC) and U-factors

 

Customer Want: Efficiency High-Performance Strategies
Lower energy bills
  • Smart thermostat
  • High R-value insulation in floors, walls and ceilings
  • Continuous building envelope (confirm with a blower door test)
  • ENERGY STAR appliances
Lower water bills
  • WaterSense-labeled fixtures
  • Minimize pipe runs (distance from water heater to fixtures)
  • Leak detection system
  • Landscaping with drought-tolerant plants
  • Smart irrigation systems

Click Here For the Source of the Information.