With all talk in the press about stability in the real estate market at the moment some great news has come from Realty Times, that custom home sales are up! A marked increase in pre-sold custom-built homes appears to be on the rise.
One main reason for this trend is that construction costs have fallen. Lumber, a primary component of those costs has reached a 10 year low and is not expected to fall further. Therefore if you are considering building a custom home now may be the best time for years!
Apart from lower construction costs, the lower rate loans from banks is helping kick start the market and making it attractive to purchase a home. Buyers who are purchasing custom homes now for great value is a decision which will likely pay them dividends in the future.
Interest is not just around the $400,000 mark, but in the $1 million plus range. Here in Malibu there are so many unique custom properties which have held their value due to their design features and excellent locations either in the mountains, bluffs or on the beach.
If you are interested in purchasing a property in Malibu, Pacific Palisades or the surrounding southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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