October 14, 2006
A great time to build!
The summer is over and autumn is creeping in. It's been an interesting year in the housing market. After a long run, the big housing boom has finally run its course.
While a slowing market for housing is bad news for investors and construction workers, it's very good news to owner-builders for several reasons.
First of all, the cost of building materials has dropped by as much as thirty percent for some building products. I usually determine the overall prices of materials by the price of plywood and wafer board. Wafer board has dropped to a new low of around $12 per sheet. I speculate that it could go as low as $10 in the spring if trends continue.
Another advantage of a slowing housing market is the availability of qualified contractors for those who wish to hire the work done. Contractors are already bidding much less for jobs so they can keep their crews working through the winter. They are also able to get the job done faster because they aren't bouncing around to and from several sites at one time because of slowed demand for their services.
The really good news for us is that interest rates have stayed low enough to make building a home an excellent bargain at the moment. This could change at any time, but it probably won't change dramatically or quickly, so we have time to plan out our projects.
It's also a great time to be doing renovations. I am trying to add more and more to my website about the advantages of remodeling.
My website has surpassed my expectations in such a short time. My traffic has climbed to amazing levels and I really appreciate all the support.
I am always open for suggestions about how to improve my site. Let me know what's on your minds.
Have a great autumn!
Larry Angell