Random Thoughts

Day 16 of the build.

I stopped by today and saw some slight progress. Water and sewer lines have been installed. I walked on my floor for the first time. Hopefully the lumber and steel will arrive ahead of schedule.

The news has been saturated with the sub-prime lending debacle and how it has effected not only the real estate industry but national and international financial markets.

I'm glad we sold when we did. Of course the off shoot from all of this is how it impacts my new mortgage. I'm not locked in yet and can continue to float until the end of October. (We should be moved in by then, so the float effectively ends at settlement.) I've been paying close attention, but even the experts are having a difficult time predicting what rates are going to do. Treasury notes have been falling (which is a good sign for me) but mortgage rates have uncharacteristically risen slightly at the same time. The professional guessers just aren't sure what will happen.

As we watch the progress of the house, we continue to have concerns that its 'just too small'. I've played with a number of furniture design software programs (go to almost any furniture store online and they will have a 'design' link.) The furniture fits, but it will definitely be tight. We try to keep reminding ourselves that this is meant to be "downsizing", we WANT a smaller place. It is still very scary.

I came across an article in another blog or google that was somewhat comforting.

The Not So Big House books by Sarah Susanka, bring to light a new way of thinking about what makes a place feel like home—characteristics that many people desire of their homes and their lives, but haven't known how to verbalize.

The inspiration for The Not So Big House came from a growing awareness that new houses were getting bigger and bigger but with little redeeming design merit. The problem is that comfort has almost nothing to do with how big a space is. It is attained, rather, by tailoring our houses to fit the way we really live, and to the scale and proportions of our human form. Two must-read articles about this topic include Cultural Creatives: The Rise of Integral Culture, by Dr. Paul Ray and a recent interview with William McDonough in Newsweek magazine entitled Designing The Future.

http://www.notsobighouse.com/

I have also been concerned about the options we chose, from a resale perspective. I'm still a bit worried about the lack of a bath tub, but at least the structure is there should we need to do a retrofit. This next piece was recently in the news:

Home Buyer Survey Ranks Features That Are Important To Buyers

The largest number of respondents, approximately 75 percent, ranked air conditioning as a "very important" feature in their homes. Among those who purchased a home without it, 65 percent of buyers said they would be willing to pay a median $1,880 extra for central air conditioning; a number we suspect would be much higher if the question had been asked anytime in the last two weeks. As might be expected, many more home buyers in the South and Midwest voted for central air conditioning as a priority, with 91 percent and 81 percent, respectively, saying this feature was very important.

53 percent of all respondents viewed a walk-in-closet in the master bedroom as a priority but Southerners were particularly fond of this feature with 66 percent prioritizing it. Hardwood floors ranked high with 28 percent of respondents and granite countertops with 23 percent, an increase of 7 percent for each over the last two years.

…Age, in fact, was overall the biggest determinant of home amenities. 74 percent of older buyers (those over 75) wanted a single-level home. A home that was less than 10 years of age was preferred by 43 percent and a walk-in-closet by 74 percent. More than half of buyers over 65 wanted a separate shower in the master bedroom compared to only 25 percent of those in the 25-34 age group. The younger buyers were more likely (60 percent) to want a backyard or play area.

Buyers still want bigger homes and newer homes, but they also want fewer bedrooms. In the two years between surveys the size of the typical home bought by survey respondents increased by about 100 square feet to 1,840 square feet but the median number of bedrooms went from four to three. The median age of the houses purchased was 12 years compared to 15 years in 2004.

http://www.mortgagenewsdaily.com/8152007_Home_Features.asp

and finally, the latest blurb from our builder:

Gracious living at its best awaits in the magnificent new community of The Reserve at Bally Spring. Here, stately single-family homes are set on 1/2-acre homesites overlooking the rolling hills. Indeed, their setting is as exquisite as the homes themselves. Within the community, there’s a recreation area where tennis courts and a basketball court are planned, enhancing the delightful quality of life. The Reserve at Bally Spring is located in the Boyertown School District. Elegant architectural details give the exteriors a timeless quality. Two-car, side-entry garages enhance the homes’ outstanding curb appeal. The distinctive homes feature 3 levels and up to 4,500 square feet of living space. A variety of floor plans offer from 3 to 5 bedrooms and 2 ½ baths, offering everyone in the family space and privacy. Grace and style fill these homes that offer the perfect backdrop for comfortable everyday living as well as elegant entertaining.

Next 2 Sales Only... Morning Room AND Finished Basement Included!*

*This is a limited time offer and available only on new contracts when financing through NVR Mortgage. Please consult our sales representative for details.
http://www.ryanhomes.com/community.aspx?CID=9501520030620

If only I had waited.....