For example, Lennar Minnesota has an excellent Pinterest page and is having lots of people re-pin its photos. I don’t think anyone at this point can specifically point to new transactions because of it but it will be an important way for builders to reach their customers and prospective customers. I believe it will be more influential on the overall relationship with new home buyers than the MLS.
If you’re a home builder, remodeler or designer, you need to build a presence on Pinterest now.
Many have heard that there is a builder warranty that comes with your new home. That is true and it’s statutory meaning it’s written in to law. Here’s an article that does a great job of explaining the 1-2-10 Year Home Builder Warranty for new homes in Minnesota. For those who want to look up the Minnesota State Statute, please check out the link at the Office of the Revisor for the specifics on the builder warranty.
The National Association of Home Builders Confidence Index was just published and the builders are continuing to see signs of improvement in the housing market.
The National Association of Home Builders/Wells Fargo said Wednesday that its builder sentiment index rose for a fifth straight month in February to 29, up from 25 in January. The index has climbed 15 points since September and is now at its highest level since May 2007.
Chart: Calculated Risk Blog
As the builders confidence levels continues to grow, we will start to see more information that the economy is improving. Home construction used to be a leading indicator. It is now a lagging indicator with this housing crash we’ve been living through. The fact that home builders are more encouraged today than they have been in about 5 years is a sign that perhaps the economy is stronger than what you read about in the major media outlets.
The BATC is out with it’s latest hot sheet for the month of September. As BATC president, and co-owner of Imperial Homes, Rich Riemersma is quoted as saying, “the regional residential housing industry has remained in a holding pattern for almost three years, but we continue to see promising signs.” There are pockets where business is doing well, but there is still definitely a cautious tone for the builders.
As I’ve noted many times before, Plymouth continues to be a standout area for new construction and not just in the Twin Cities. It’s quite remarkable what’s happening here as many of the home builders across that nation are really flat on their backs.
I overlooked this last week with the Labor Day holiday but the Builders Association of the Twin Cities (BATC) came out with the BATC Hot Sheet for August, 2011. The key takeaway is that the Builders Association of the Twin Cities see some stability in the home building market right now in the Twin Cities.