Nationally- the Washington Post says that new home sales were the worst on record- going to back to 1963.  Yikes.  The annual sales rate was 374,000 homes for 2009.  The historical average is 900,000 to 1,000,000 per year.

Nationally, that means new home sales are a complete disaster.

Capstone Homes, however, does not complete in the national new homes market.  We sell Delaware Beach Homes.  I don’t really have to wonder what the real estate market is doing “nationally”.

There is no market for new homes nationally- new homes are usually attached to a piece of ground, and people who purchase new homes are usually more selective about where that piece of ground is located.  I have never heard of any one who was looking “anywhere in the USA.”  By contrast- people want to come to Delaware because life is good at the beach, and a Delaware retirement community offers low-tax, coastal living.

I have been saying all along that there is no national real estate market.  There is a local real estate market, and I will tell you that the market for Delaware new homes is a whole lot better than it was one year ago.  Our December 2009 sales were up 300% over December 2008. Capstone Homes sold more homes in Holland Mills, Cannery Village, Bay Pointe, and Pemberton in 2009 than ever before- Capstone Homes‘ sales rose 100% in 2009.  Our sales are on track to have us grow another 100% in 2010.  How can this be?

Prices are low- interest rates are low, and new home inventory is dropping.  Capstone offers a great product that we are continuing to improve all the time.  Capstone Homes is looking to offer more quality and more value in its homes each day.

The Delaware Beach Homes market is picking up.  Some of the other builders are raising their prices in the market.  Now is an amazing time to purchase a new Capstone Home.

Green building- green everything- it’s all a person will hear today.  We need to do everything in a way that is gentle to the environment.

That’s not a bad thing, and Capstone homes embraces certain green building practices.  We think that new homes should be built in a way that causes the least environment impact.  It is a good thing to be a wise steward of the world upon which we live.

But seriously, can we just be honest for a second- some of this “green” stuff is just hooey.

Here’s someone who is making the case that vinyl siding is green (Link).  I don’t think she is really saying that vinyl is green- she is really saying that vinyl is the best of a bad bunch.  She is saying that most siding used in new homes isn’t very green at all, but vinyl is the most green- or the least damaging.

I guess vinyl can be recycled- but so can Uranium.  Maybe we should use Uranium siding.  It’s a very hard metal that resists corrosion.  Maybe not.

Somethings are green- and some aren’t.  Vinyl siding- which is made from oil- isn’t green.  Sorry.  Vinyl siding is great for new homes- Capstone builds new homes at the Delaware beaches, and we use lots of vinyl siding.  It’s great.  We just don’t call it green.

Sorry for being honest- that’s why we have a sales manager at Capstone Homes.  He does the selling.

It is the most common words we hear when we ask people at the Capstone Homes Sales Center about their timing for the purchase of a new home.

“We are looking, and we will have to sell our current home first.”  After that, we get the “why my home is different” story…

People who come in and look at new Delaware beach homes and say this stuff to us all the time. Capstone Homes has wonderful communities like Bay Pointe, Holland Mills, Cannery Village, Estates at Carriage Springs, and Pemberton- but the people who have a house to sell aren’t really buyers.

People- this is the GREATEST BUYING OPPORTUNITY IN REAL ESTATE IN YOUR LIFETIME.  Never again will you see depressed prices and low interest rates.  If your house isn’t on the market- it isn’t going to sell.  That means you won’t buy- and this market will change.

If you put your house on the market- I hope you get a Realtor like this- Click Here.  The agent isn’t afraid to be honest with clients.  Make sure you have an agent who wants to SELL your home- not LIST your home.

Get your house on the market and move to the beach.  Capstone Homes is waiting…

I just returned from the International Builder’s Show (IBS) in Las Vegas, Nevada.

Nevada is one of the epicenters of the real estate crash.  I picked up a real estate magazine at a shopping center, and it was full of listings.  The entire publication was bank owned property.  It blew my mind.

There are some great deals with bank owned properties.  A bank owned property is something that has been through the foreclosure process- and it is now bank owned.  The banks call this property REO- (“Real Estate- Owned”)- and there are deals if you can find them.

Short Sales are something else- this is where the bank is working with the homeowner to sell the property for less than the amount of the mortgage.  Banks will do this in certain circumstances to avoid the cost of the foreclosure process.  These can be great deals- but the process is challenging.  We recently spoke to a Realtor who put in a bid for a client on a short sale- the offer was rejected two months after it was submitted.  That’s tough- wait eight weeks only to hear that your offer is rejected.  Short Sales are very tricky.

If you are in the market for a new home- should you look at a new home?  Should you look something bank owned?  Short sale?

The answer depends on a few factors.  The first is the real estate market in which you are looking to purchase a home.  The number of foreclosures varies dramatically from region to region.  Keep in mind that 3rd quarter foreclosure rates for Nevada were 1 in every 23 homes.  The rate in delaware was 1 in 500 homes. The point is something this blog has said over and over- there is no national real estate market.  The only market that matters is the one in which you want to own property, and that market could be in much better or worse shape than what you hear on the news.

So, if you’re looking for a new Delaware Beach Home- or you are looking for a Delaware retirement community- foreclosures can be much harder to find than you might imagine.  Short sales can be a even tougher home to find.

Second- buyer beware.  Bank owned property is sold “As-Is”.  Chances are, the bank doesn’t know what’s wrong with it (if anything), and they aren’t going to sign anything that represents the condition of the home.  They also will not usually agree to a home inspection clause in the contract (which is standard in the Capstone Homes‘ purchase agreement).  If you want it- buy it cheap, but you get what you get.  It could be in perfect shape- or it could be a mess.  Sometimes the part of the home that is a mess isn’t easy to identify.  If something is wrong with a foreclosure, you will have no way of holding the bank accountable for the problem.

You are getting a great price- but along with that price comes the risk.  It’s simple risk and reward.

On the other hand- the real estate crash has brought home prices down considerably- builders of Delaware new homes like Capstone Homes are making deals that may be the best in a generation.  We build a high quality home, and we stand behind our new home.  Our homes are going to be some of the most energy efficient homes in the Delaware Beach area, and you have the opportunity to build your Capstone Home to your tastes.  A new Capstone Home may cost more than a bank owned property, but it can provide the exact home you want.  What’s the price of living in your dream home?  It might be a better value to purchase what you want from Capstone Homes.

We’re back from vacation.

Capstone Homes thinks there are two types of people in the world who become successful- people who work very hard, and people who are very smart.  Capstone Homes is probably the latter.

We sell Delaware beach homes.  We build great homes that are energy efficient for people who want the coastal living of the Delaware beaches and the low-tax retirement that is afforded by a Delaware retirement.

Something happened along the way- Capstone Homes kept getting requests for waterfront and water view Delaware beach homes.  People would come into the sales center or email us and ask about homes we could build that had a water view or even waterfront. Capstone Homes is happy to announce that we now have waterview and waterfront homes available in Capstone’s Bay Pointe Community.

Capstone has been able to reserve select lots in Bay Pointe.  These lots are feature pond front, wetland views, and a number of lots that are direct waterfront.

Capstone offers a number of it’s models in the communities, and Capstone also offers custom design/build services.  Capstone Homes start at $299,900 for the Hunter model- with a number of luxury features.  This is a great value for water front homesites in the Lewes area.  Bay Pointe is a luxury Lewes community that features waterfront lots and a community dock.  The community also features a luxury entrance, and the pool and clubhouse have been completed.

Contact Capstone HERE for more information about luxury, waterfront, Delaware Beach Homes by Capstone Homes in Bay Pointe.

Capstone Homes is proud to introduce the Jackson model at Holland Mills.

The Jackson is a three bedroom, two bath home that features an open floor plan and single floor living.  The Jackson also features an integrated, two-car garage.

The plan features an kitchen that opens to the great room and joins the eating area.  The eating area and great room face the rear of the home.  The spacious owner’s suite features a full bath and walk in closet.

The Jackson has a great number of custom options available- a gourmet country kitchen, an expanded owner’s suite sitting area, or a sun room.  The Jackson can have a bonus room above the garage or a full basement.  Capstone Homes now offers partially or full finished basements.

The Jackson also features great standard features- 9′ ceilings, 2×6 exterior wall, energy star heating and AC, an wide door openings throughout.  It comes in three different elevations.

Capstone also offers granite and quartz countertop options, insulation upgrades, and an almost unlimited amount of flooring choices.

The Jackson is available in Holland Mills at a starting price of $209,900 on select lots in Holland Mills.  The Jackson is a great floorplan that is designed for living- contact Capstone Homes today and let us start your Delaware Beach Home!

The Capstone Homes website allows you to select options and build and price your Jackson by clicking HERE

Capstone Homes is pleased to announce our January incentives for Capstone’s Holland Mills community.

Capstone Homes is offering a 50% discount on all home options up to $10,000 in Holland Mills for all new purchase agreements signed in January.

This incentive cannot be used for lot premiums.

Capstone Homes also has a new section of lots that have been release in Holland Mills.

Holland Mills is a new home community located between Lewes and Milton, Delaware.  Capstone Homes builds Energy Star rated new single family homes priced from the low-$190′s in Holland Mills.  Holland Mills is a great location as a Delaware Retirement Community, a Delaware Beach Home, or simply a Delaware new home for you and your family.

For more information, visit: http://www.capstone-homes.com/ or give us a call at 302-684-4480.

There are a number of posts on this blog about the real estate market, and so I guess today is a good day to look back on what has happened in the Real Estate world in 2009.

I think Zip Realty has come up with a top ten list that is a great summary of what happened.  View the list HERE.

Capstone Homes had a great year of growth as an Energy Star builder of Delaware New Homes.  Capstone continues to find that people are looking for Delaware Retirement Communities and Delaware Beach Homes, and we have had a great number of people who find Capstone Homes to be a great value in new homes at the Delaware beaches.

Capstone Homes believes that 2010 is going to be a great year of sales for new homes in our current communities- Cannery Village in Milton, Holland Mills, Pemberton, and the Estates at Carriage Springs.  Also- look for a number of new communities for Capstone as we continue to grow into a great provider of Delaware Beach Homes.

Two things to remember for anyone who is following the real estate markets:

First- the obligatory mention that there is no such thing as a “national” real estate market.  Real estate is local- so look at local market conditions and don’t pay attention to Bob Toll on CNBC.  He probably isn’t talking about where you live- even if he’s a genius or something.

Second- the federal tax credit is going to expire for existing home owners and first time homebuyers.  If you are thinking of selling- get your house on the market now.  You have to have a signed contract by April 30th, 2010- and it has to settle by June 30th, 2010 to get the tax credit.  I think the spring selling season is going to actually come this winter.  If your home isn’t on the market, then it isn’t going to sell.

Happy New Year- Be blessed!