This unforeseen activity crippled the our real estate business through the end of the year, looking back on past 6 months ( 8/1/2011- 2/1/2012) there has only been a handful of homes that went under contract closed. A few remain under contract, in January the inventory rose 50% with most of the homes that didn't sell last year coming back on the market again.
2012 With warmer weather compared to last years 5' of snow, buyer traffic has been sporadic with many buyers waiting for more inventory or more price declines.
That leaves us with the best buying period in history, greatest opportunity to buy at unprecedented record low prices and record low rates. You can't built the majority of homes today for what resales are selling for. The materials, labor and builders cost of borrowing money has made resale homes a bargain. There was very little GOOD building lots available before housing depression of 2007.
With the Real Estate market slowdown it gave me and my wife who is also a NJ Realtor an opportunity to do something we always wanted to do, become General Contractors and build our own home. We are just completing the building of our own dream home on one of the most spectacular lots in Holmdel, N.J. We enjoying it so much creating our own statement that we can call home. It all started when my wife found on EBAY a Bucks Head, Ga. a one of a kind Showroom Kitchen for sale. A quick trip in and out to meet Bill Risner a upscale kitchen designer and builder in Witley City, KY. Which is located in the Daniel Boone National Forest, next to The Great Smoky Mountains National Park. The Showroom Kitchen was sitting in his wood making shop and it was absolutely breathtaking! It was a no brainer after meeting Bill, our next stop was to go to an Architect who could design a home around the kitchen with a view of the Hazienda Lake.
We struggled like many others as we drained our savings owning 2 homes for the past 5 years. We withdrew our retirement savings to make our dream happen. We are enjoying creating our trophy property so much that we are now searching to obtain financing on building another home on gorgeous 3 acre lot on a Round Hill cull d sac after we move into our dream home. We also have formed a team of craftsman who brought our house in under budget. We starting a company called METAL ROOFING ARTS that makes custom metal roofs out of Zinc, Copper, Aluminum or Steel in 28 energy efficient colors some with matching solar film.
Life is to short not to live the dream!