This New, Garden Home Floorplan is a beautiful upgraded courtyard style garden home with 1,895 square feet of living area, three bedrooms – plus a computer room and two baths. High ceilings throughout with abundant crown molding, all hard surface wood floors and 8’ tall doors. Sloped kitchen ceiling with exposed wood beams. Private brick wall enclosed French Quarter-style courtyard with brick entrance sidewalk, and both an uncovered and brick-floored, covered patio. Huge, open, walk-in tile shower in the master bath.
Priced in the Low $300’s.
Other Two Bedroom and Three Bedroom Floorplan Designs Are Available to Build Your Custom Home on One of the Few Remaining Garden Home Lots Priced From the $270’s Up to the Mid-$400’s.
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New home sales in the South region of the United States increased by 4.5% in the month of November – an optimistic statistic for one of the slower real estate months of the year. This statistic shows the continued growth of new home sales in 2015. Overall, new home sales were higher by 14.5% compared to the 11 months of 2014 at this time. New home inventories are at an all-time high since January, 2010 at 232,000.
A one-time anomaly that is affecting existing home sales and new home sales is the mandatory system change of home closing implemented by the United States government at the 1st of October. As of October 1st, all home loan applications taken after this date had to adhere to a new system and procedure that slowed down the mortgage approval-to-close process. This new process informs home buyers every single step of the financing process to ensure that they are fully aware of the financial responsibility that they are undertaking in their home purchase. Because of this, the closings of existing homes was delayed by several weeks as lenders learned and implemented the new system. Title companies also had to adjust to the process as they were required to respond to documentation that normally had been handled differently in past closings.
The effect on sales at the end of 2015 was apparent as existing home closing number stagnated. The overflow effect was that home buyers, which typically start looking at existing homes first, were delayed in making purchasing decisions. Therefore, new home sales were affected by those same home buyers turning to a new home purchase vs. an existing home purchase. However, even with these delays and anomalies, the new home, real estate market is thriving in 2015 – all numbers year-over-year comparatively are on the rise and show no sign of slowing down.
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When choosing where to build a new home, build a custom home, or buy a new home, home buyers will want to carefully consider the region and area that they are moving into. Many considerations come into play which include population, crime, age range, the commute, suburban sprawl, traffic, schools, and medical facilities. When deciding in which neighborhood you would like to live, you definitely want to think about the quality of medical care that you and your family will have access to should a health emergency affect your lives. Bedico Creek Preserve is located in the heart of West St. Tammany Parish which is the home to 2 major hospitals, several specialized hospitals including 2 heart hospitals, and multiple specialty clinics from which to choose your healthcare.
One of the major hospitals is Lakeview Regional Medical Center which is located approximately 10 miles from Bedico Creek in Mandeville. This hospital was recognized as a ‘Top Performer’ on Key Quality Measures® by The Joint Commission, the leading accreditor of health care organizations in the United States.
The excellence achieved by this hospital included sustaining escellence in accountability measure performance for heart attack, heart failure, pneumonia, surgical care, stroke, and perinatal care. Lakeview Regional Medical Center was one of 1,043 hospitals to receive this award nationwide with a total of 3,300 eligible hospitals considered. This is not the first time that Lakeview has been recognized for this award. For the past five years straight, the hospital has been one of only 43 eligible hospitals to maintain this high level of service and excellence.
Three criteria are considered in awarding this prestigious honor:
Achieving cumulative performance of 95 percent or above across all reported accountability measures;
Achieving performance of 95 percent or above on each and every reported accountability measure where there were at least 30 denominator cases; and
Having at least one core measure set that had a composite rate of 95 percent or above, and (within that measure set) all applicable individual accountability measures had a performance rate of 95 percent or above.
“We are proud to be acknowledged among an elite group of like-minded facilities,” Bret Kolman, Lakeview Regional Chief Executive Officer, said. “This recognition highlights the dedication of our physicians and staff to provide the safest and most effective health care standards to each of our patients.”
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News from the National Association of Home Builders (NAHB) is that new home builders are looking for and buying lots and getting building permits, but new home inventory of homes not yet started is still strong because it is possible that these builders are waiting on buyers (pre-solds) before beginning construction. There is much good news coming out about new home building permits for single-family homes, new home inventory, and new home sales.
Single-family home building permits were up 2.4% in October, 2015. Overall, single-family new home building permits are up 8.6% for the year 2015. Single-family home starts are up year-to-date as well with a slight dip in October due to storms in the Gulf Coast and Southern regions. Because building permits and starts are up for the year, new home construction of single-family homes is also up across all regions nationally.
New home inventory stands at the highest level since March, 2010, and increased overall in 2015 1.3% to 226,000 available homes. If homes continue to sell at their current pace (and no new homes were built), all homes would be sold off in 5.5 months. Inventory for new homes not yet started is the strongest it has been since the end of 2008, right before the Recession. Builders are looking for lots and labor as the housing market returns in force. There is simply not enough land for sale or sub-contractors to build new homes to support the amount of inventory coming out of the ground – which is good news for the real estate industry.
In addition to the high amount of new home inventory, new home sales are also thriving to increase 10.7% to 495,000 in October compared to September’s numbers. The total number of new homes sold has increased 15.7% year-to-date. The NAHB is predicting an overall sales pace of 511,000 new homes in 2015, and October’s numbers seem to show that it will happen by end of year.
Click Here and Here for the Sources of the Information.
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The majority of home buyers interested in building a new, single-family home or new, custom home remain 2nd, 3rd, and fully custom home buyers. The re-entry of the 1st time home buyer to the real estate market has not yet begin post-Recession. While the housing market has been recovering on a slow and steady pace since 2012 when house pricing started to really climb, it has not recovered enough to allow qualification of credit for first-time home buyers. The number of approved FHA loans – loans typically offered to 1st time home buyers – has remained stagnant for many quarters in a row. Even with the lowering of the down payment cost from $5,000 to $3,000, there has not been a great surge of first-time home buyers into the housing market.
Because of these statistics, the average size of a new, single-family home has remained above average compared to the years just before the Recession. Historically, it is typical for home buyers with more security, fewer credit problems, and a larger investment to be able to build and afford “more home,” so the larger square footage of homes is not unexpected coming out of the Recession. However, for the 2nd quarter of 2015, the median square footage of new homes built dropped slightly and then remained the same for the 3rd quarter. During the 2nd quarter of 2015, the living square footage of new, single-family homes dropped from 2,478 to 2,445. Total square footage dropped from 2,704 to 2,653.
Historically, total square footage during the 2nd quarter of 2015 was up by 13%, and the living square footage amount was up by 17%. The cost of building these square footages is on-average – $468,318 for a new home built on 1/2 acre of land. Of that cost, 61.8% was construction costs, lot cost was 18.2%, builder profit was 9%, and overhead was 5.6%. The remaining percentage of the cost to build and buy a new home included Realtor commission, financing and marketing. These costs are not dissimilar from 2013’s numbers, so the percentage breakdown of the cost of building a new home have not changed much in the last two years.
Click Here and Here for the Sources of Information.
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