New Homes Builder To Begin Construction in San Diego

Shea Homes of San Diego, buoyed by news of a nearly 9 percent increase in housing starts, has announced it will begin construction of 32 new homes in five San Diego neighborhoods this week.

According to news announced December 16th by the U.S. Commerce Department, new residential construction permits rose 6.0 percent in November and housing starts increased 8.9 percent, in both cases exceeding market expectations. Permits have risen 17.3 percent above their low in April, and starts have advanced 19.8 percent above their April low point. These gains reflected increases in single-family activity, while multi-family starts have increased modestly.

“November was a promising month, our best this year, and it’s great to see December looking equally strong,” said Vanessa Linn, vice president of sales and marketing for Shea Homes San Diego. “The demand for homes is proving to be consistent, and we are prepared to meet that ongoing demand. There’s still a sense of urgency to take advantage of value pricing, low interest rates and tax credits.”

New home construction is now under way in five Shea Homes neighborhoods:

• Clover at Windingwalk in Chula Vista features two- and three-story condominium homes priced from the mid $300,000s. Clover floor plans range from approximately 1,579 to 1,891 square feet and have two to four bedrooms, two to three bathrooms and two-car garage. Call 619-397-0964 for information.

• Chaparral Ridge in Escondido is a single-family detached home neighborhood priced from the low $500,000s. The floor plans range from approximately 2,653 to 3,564 square feet and have three to five bedrooms, 3.5 to 4.5 bathrooms, and three- and four-car garages. Call 760-233-5769 for information.

• Mandolin at Del Sur in San Diego is a condominium community priced from the high $400,000s. The homes range from approximately 1,643 to 2,333 square feet and have two to five bedrooms, 2.5 to four bathrooms and two-car garages. For more information, call 858-832-1368.

• Estrella in San Miguel Ranch in Chula Vista features single-family homes on lots averaging 7,500 square feet. Priced from the high $500,000s, Estrella homes have approximately 3,132 to 3,811 square feet, four to six bedrooms, 3.5 to 4.5 bathrooms and two- and three-car garages. For information, call 619-267-2310.

• Sapphire at Windingwalk in Chula Vista is priced from the high $400,000s and offers floor plans spanning from approximately 2,606 to 3,046 square feet. Sapphire homes offer four to five bedrooms, three to four baths and two- and three-car tandem garages. For information, call 619-216-4531.

Among San Diego’s biggest builders, Shea Homes (http://www.sheahomes.com/) offer new homes ranging from affordably priced condominiums and townhomes to traditional single-family detached homes and magnificent luxury residences.

Shea Homes can be contacted at 858-526-6500.

Information in this post provided by http://www.scribecommunications.com/2009/12/shea-homes-begins-construction-on-32-new-homes/.

Home Buyer Tax Credit 3.0 - is Real... How does this affect Arizona new homes

Arizona new homes builders received welcome news Wednesday that the federal first-time homebuyer tax credit is being not only extended but expanded to include buyers who already own homes.

President Barack Obama is expected to sign into law a bill that extends the $8,000, first-time homebuyer tax credit set to expire Nov. 30. It also creates a tax credit up to $6,500 for buyers who have owned their current homes at least five years.

To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

"In our view, that's the kind of government action that needed to occur to continue to stimulate the housing market," said Greg Burger, co-principal of RL Brown Housing Reports. "We believe it will be a positive catalyst in the market moving forward through the end of this year and into next year. Prices are at historical lows ... and this would be some added incentive to go ahead and make the move sooner rather than later."

The first-time homebuyer tax credit has meant higher sales for Taylor Morrison, which has houses under construction at its Stratland Estates community in Gilbert.

"We've had a number of people who are taking advantage of it, and I think our closing numbers for the month of November reflect that," said Pierrette Tierney, vice president of sales and marketing. "Our largest month of the year, which typically is December, by far is going to be November this year ... with everybody trying to get in there before that Nov. 30 deadline."

The expansion opens the new homes market for more people, she said.

"There's a lot of people who are recognizing that right now, even outside of the tax credit, is a great time to buy, and then the tax credit is just the cherry on the top," Tierney said. "Our sales volume has remained quite steady into a longer period of time than we typically see in our kind of seasonal industry."

Buddy Satterfield, president of Shea Homes, said the tax credit increased his sales by 20 to 25 percent. Shea has numerous homes under construction across the East Valley.

"We saw a big drop-off in sales when we couldn't deliver (in time for the deadline)," he said. "That's the big problem for builders. You have to sell it and start the house, and deliver it by a certain date, unlike the resale market, where you can take it right up to the wire."

The tax credit has been good for the economy and helped create jobs in the construction industry, Satterfield said.

"I think (the expansion) will help," he said. "I think there's folks out there who, maybe this will be just enough stimulus for them to say 'we need that extra bedroom' or 'we want a different floor plan,' or 'a different location,' and it could spur them to make a purchase. We'll have to wait and see.

Obviously we prefer it to have been a larger amount, but we're grateful for it."