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Touchstone’s New Floor Plans Built to Sell – And Selling!!!

Thursday, March 18th, 2010

With the housing market finally turning a corner, thanks in large part to current tax incentives; builders are seeking inventive ways to attract home buyers.

Touchstone Homes, a builder at Sterling on the Lake since the award-winning community opened in 2004, is one such example.  Touchstone Homes, which has been building beautiful homes in the Atlanta area since 1994, announced it is retiring older floor plans to make room for new plans that better meet the needs of today’s consumer.

“We’re being very deliberate in how we build today,” says Jeff Barnes, Touchstone’s new home specialist at Sterling on the Lake.  “The market has changed significantly, and we’re being innovative and responsive to match our products to what the market can and will buy while, at the same time, reflecting the latest trends in our industry.”

Touchstone’s newest floor plan is the “Washington.”  At 2,800 square feet, this single-family home offers an open layout with a two-story foyer, four to five bedrooms, three bathrooms, a media/bonus room, attached garage and a beautiful porch.  Home prices start in the high $250s. 

Barnes points out that Touchstone can now build a new pre-sale home in just 90 days, from contract to closing.  So your eager wait for a new home just got shorter.  These homes can also be personalized using Touchstone’s award-winning Design Studio. 

To date, Touchstone has built two of the Washington plans, with both homes going under contract before the homes were completed.  “We knew right away that it was a desirable plan,” he adds.

The two new Touchstone home buyers and others are taking advantage of the government tax credit coupled with Sterling on the Lake’s own tax credit offer:  a match of up to $8,000 on a new home purchase, for total savings of up to $16,000 on a new home.  More details are available at www.sterlingonthelake.com/pages/credit.aspx and you can learn more about Touchstone Homes at www.touchstonehomes.com.

Atlanta Housing Market Hit Bottom in 3rd Quarter

Thursday, November 5th, 2009

Thursday, November 5, 2009, 9:32am EST

Metrostudy: ATL housing market hit bottom in Q3

Atlanta Business Chronicle

§ Metro Atlanta’s housing inventory began to deplete in the third quarter and housing starts rose, according to Metrostudy’s third-quarter housing report.

§

“Atlanta’s housing market has hit a bottom,” said Eugene James, director of Metrostudy’s Atlanta division. “Almost all housing indicators have reversed and are now heading in a positive direction. Finished inventory has been reduced to a level where builders have been forced to resume building new homes.”

This September, Atlanta’s finished inventory was reduced to about 11,000 units, which is a 37 percent decline from September 2008 and a 48 percent decline from September 2007, according to Metrostudy. Finished vacant housing inventory is one of the fundamental indicators Metrostudy uses to monitor the health of the market.

Closings have surpassed starts for three years now. Plus, the gap between new-home sales and starts has widened each quarter.

In the third quarter of 2009, annual closings totaled 14,980, while annual starts totaled 4,748 in metro Atlanta. Total net absorption was 7,060, with more homes sold than built and delivered during the 12 months ending in September 2009. The result is depletion of finished housing inventory, James said.

The reduction of inventory has encouraged Atlanta builders to switch gears during the third quarter and instead of slowing the pace of starts, they started more homes than in the previous quarter. James said the uptick in starts was a bright spot in the market. Atlanta builders started 1,152 homes in the third quarter of 2009, an increase of 17 percent compared to second-quarter starts.

“At 12.8 months, the new-home supply situation looks worse than it is,” James said. “We do not have an oversupply problem, we have a demand problem. The months-of-supply figure is inflated because of the unusually slow closings pace. As demand returns to the market, the months-of-supply figure will normalize.”

Demand has been hampered by the difficulty home buyers have qualifying for mortgages. Credit remains very tight, challenging both home buyers and builders. Continued job losses and high unemployment also hurt consumer confidence, James said. Demand for new homes will grow when the job market improves.

Despite poor demand, as evidenced by only 3,534 closings during the third quarter, the months of supply for finished housing declined from the second quarter. It was the first quarter-over-quarter decline in months of supply of finished homes in four years.

Metrostudy expects the months of supply will continue to decline in coming quarters.

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