Article by: Zenios Michael Zenios

3 Pillar Homes

New homes won’t be any more affordable in a year or two.

Potential homebuyers who are waiting for costs to come down before building might want to reconsider. The fact is that the past year’s rise in new home prices will most likely continue. While higher interest rates and a weak dollar could play a role, the biggest factors will likely be the most basic ones of supply and demand.

Simply put, the homebuilding industry predicts buyers will demand as many as 1.5 million new homes next year — this pent-up demand has saddled some builders with lengthy backlogs. At the same time there has been a serious shortage of labor and materials.

When it comes to labor, the pendulum has swung. Two years ago, contractors were short on work and willing to accept wage cuts. Now builders are hunting for skilled labor. The downturn saw legions of carpenters and other skilled workers leave the construction industry. The ones who remain are commanding higher wages. The same is true for quality subcontractors such as electricians, plumbers, and drywallers, who often have more work than they can handle, and have raised their prices accordingly.

On the materials side, lumber shortages drove prices in early 2013 to double that of a year earlier. And lumber is a bellwether: the costs of other building materials, from cabinets to carpet to light fixtures, tend to follow its lead.

There are several reasons for the lumber crunch. A number of mills closed during the housing crash when demand was weak. Some of these mills have re-started, helping to lower prices a bit from the recent peak, but tight credit has slowed the process, according to the National Association of Home Builders. It will take time for the industry to ramp up to the needed capacity.

Even if all available mills were operational, there isn’t as much harvestable lumber as there was a few years ago. For instance, mountain pine beetles have devastated millions of acres of timberland in the northwestern U.S. and Canada, while Canadian provinces have ordered permanent harvest reductions from healthy forests.

These forest losses have come on the heels of increasing demand for lumber from China, India, and other countries. In fact, many experts believe that lumber availability and pricing over the next few years will be driven as much by global as by domestic factors, and that it could take five years for supply and demand to balance.

What does all this mean for homebuyers? With prices predictably on the rise, value engineering is becoming ever more important. Value-engineering is a service provided by builders who look for ways to economize without sacrificing amenities or quality. There are lots of ways to do this. One example is to reduce exterior wall space by simplifying the facade. Exterior walls cost a lot more to build than interior walls — a simpler facade will have fewer corners, nooks, and crannies, requiring less labor and materials to build. The ability to value-engineer is one of the many benefits of working with a professional builder.

The bottom line is that while getting into a new home may be more expensive than it was two years ago, waiting for prices to come down is a roll of the dice — with odds of winning that are probably less than those at a Vegas casino. Anyone considering building in the near future would be well advised to do it sooner rather than later.

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Back to School

August 12, 11:00 am-8:00 pm

JVCC Community Pool

Grilled Hotdogs, Hamburgers and Snow Cone Specials

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Dive in Movies

August 19, 8:30 pm

JVCC Community Pool

Bring your blankets and comfortably watch Guardians of the Galaxy under the stars.

End of the Season Pool Carnival

August 26, 1:00 pm-4:00 pm

JVCC Community Pool

Corn Dogs, Cotton Candy and Treats (while supplies last), Carnival Games, Adult Beverage Specials

 

 

 

 

It has come to our attention that there has been an influx of motorized vehicles passing through Jerome Village Trail System.

Here are some of the vehicles that are prohibited from the paths:

  • Golf Carts
  • Dune Buggies
  • Motorcycles
  • Electric Scooters/Skateboards

This rule is in place to protect walkers, joggers, cyclists, children and dogs. We have posted a NO MOTORIZED VEHICLE sign on the trailheads and need your help in ensuring we keep the community safe and remain considerate of the individuals utilizing the trail system for its intended use.

Any golf carts owned by residents must be street legal and registered.

If you have any further questions, please contact johnWillis@towneproperties.com 

 

Now through Friday, July 21 real estate agents have the opportunity to register for an exciting incentive program at Jerome Village!

Earn up to $6,000 in incentive dollars when you sell a lot in Plum Ridge Place or Eversole Run neighborhoods thru 2017.

  • Sell and close one lot in either neighborhood and receive $1,500.
  • Sell and close a second lot in either neighborhood and receive $2,000.
  • Sell and close a third lot in either neighborhood and receive $2,500.

View qualifying details, instructions and restrictions  HERE

How to sign up: email info@jeromevillage.com to sign up including your name, email address, office/broker or, visit your favorite builder model home and let them know you are interested in joining this great opportunity!

 

Eversole Run is situated north of Wells Rd. off Highland Croy featuring premium home sites surrounded by natural beauty of mature trees, ravines and creeks and lot sizes ranging from 90×150-115×190. Pricing begins in the $750’s to over $2 million and features the following builders – Bob Web Homes, Coppertree Homes, Memmer Homes and Romanelli & Hughes.

 

Plum Ridge Place, nestled within Eversole Run, is a privately gated neighborhood with an estate like feel featuring exceptional lots open to all custom approved builders.  These home sites range in size from a half-acre to approximately 1-acre (120×180- 190×200) with pricing from $1.5million – $2million. Contact Bart Barok with Nationwide Realty Investors for more information at 614-857-2337 or barokb@nationwide.com.

 

Bring your clients to Jerome Village to view available lots, a one of a kind community center that includes Pasquale’s Pizza and Pub, a swimming pool and fitness center.  Noteworthy mentions include a master planned community committed to 40% of its land to green space, a bike trail system through the development providing access to Glacier Ridge Metro Park, close proximity (4.5 miles) to the Columbus Zoo and of course, Dublin City Schools!