Manor Homes Blog and New Homes In Clark County Washington

Home Buyer Tax Credit

2009-10-12T09:29:00.000-07:00

Washington Report: $8,000 Home Buyer Tax Credit
by Kenneth R. Harney
Quick passage by the House last week of a bill extending the $8,000 home buyer tax credit next year for military, diplomatic and intelligence personnel serving overseas increases the odds that Congress will agree to an extension, maybe even an expansion, of the entire credit program well into 2010.

The White House is also signaling that it sees the overall tax credit program -- currently set to expire November 30 -- as an important element in cutting the unemployment rolls and stimulating new jobs next year.
After an economic policy strategy meeting last week in the Oval Office involving President Obama, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid, congressional aides said Democrats generally support an extension of the housing credit.
Reid already has made clear he wants an extension. He is co-sponsoring a Senate bill that would do so for six months.
Congressman Charles Rangel, chairman of the tax-writing House Ways and Means Committee, sponsored the one-year extension of the credit for military and other personnel serving overseas, and is reported by aides as favoring an extension for the entire program.
The White House has not publicly committed to an extension, but has confirmed that the President is seriously examining that option.
An unexpected development that emerged following last week's White House meeting was the possibility of opening up the credit to a broader group of buyers next year - people who sell their current homes and buy a replacement home.
Though details were scanty, Capitol Hill sources said one option on the table would be to provide a tax credit -- most likely at the $8,000 level -- to replacement home buyers whose incomes do not exceed some limit.
The current credit phases out for single taxpayers with incomes above $75,000, and married purchasers earning $150,000.
A politically sensitive issue hovering over the entire debate on extending the housing tax credit is its cost - what it would add to the federal budgetary deficit. Mark Zandi, chief economist of Moody's Economy.com, estimates that widening the credit to all buyers through next August could cost the government upwards of $30 billion.
Rangel's 12-month extension of the credit for service personnel is estimated to cost more than $300 million, but it's mainly being paid for through an increase in penalties levied by the IRS on taxpayers who fail to file corporate or partnership returns.
The New York Times reported that one possible solution to the cost problem would be to divert money not yet spent out of 2009's $800 billion stimulus legislation.
Published: October 12, 2009
Use of this article without permission is a violation of federal copyright laws.

Economic impacts of NAHB's "Revive Housing" campaign goals

2009-09-14T11:26:00.001-07:00

Economic impacts of NAHB's "Revive Housing" campaign goals are highlighted in new research from our Economics and Housing Policy Group. This analysis, which includes estimates of the number of jobs to be gained from each of our proposals, should help convince lawmakers that bolstering housing is key to reviving the national economy.
Following are the four primary advocacy goals of the Revive Housing, Restore America campaign that NAHB initiated in August and continues to push with all its might: 1) Extend the $8,000 tax credit for another year and make it available to all income-eligible buyers. Research by NAHB's tax analysts indicates that this action would spur 383,000 additional home sales – including 80,000 housing starts – and create nearly 350,000 jobs and an additional $16 billion in wages and salaries over the coming year. Approximately one-third of those jobs would be in the construction sector. Small business income would increase by $6.5 billion, while corporate profits would increase by $5.5 billion. 2) Reform the appraisals process. Doing this would boost home sales by increasing the flow of credit to home buyers and stimulating housing demand. Our economists estimate that the result of such activity would be an increase in home sales by nearly 100,000 during the first 12 months, which in turn would create more than 63,000 jobs (as measured on a full-time equivalent basis). These jobs would be in the construction sector and other parts of the economy. 3) Resolve the credit crunch for housing production loans.
Encouraging lenders to provide leeway for residential acquisition, development and construction (AD&C) borrowers who have loans in good standing would strengthen balance sheets for the nation's home builders, thereby saving thousands of businesses and creating more than 82,000 jobs in the residential construction sector.
4) Expand the tax code's Net Operating Loss carryback period for businesses.
Eliminating the current $15 million cap on average annual gross receipts and allowing 2009 losses to be eligible for the expanded carryback would help many businesses and provide relief to taxpayers who have been hit by the Alternative Minimum Tax. NAHB analysis shows that such tax relief would result in more than 53,000 jobs in the construction sector and more than 200,000 jobs throughout the rest of the economy.

Avoid Corrosive Influences!

2009-07-31T11:23:00.000-07:00

Topic: Avoid Corrosive Influences!

"Visit any bar and what will you hear?

Gossip. Complaining . Bitterness. Negativity.

Visit any lunch room in any big company and what will you hear?

Gossip. Complaining. Bitterness. Negativity.

Eavesdrop on any family gathering around dinner time and what will you hear?

Gossip. Complaining. Bitterness. Negativity.

I could go on. " The point is that the vast majority of humanity is stuck in this
level of consciousness. It's the level of the popular media. It's the level of most
conversations. It's the level of low energy. And this very same level keeps people
exactly where they are. " So writes Joe Vitale in The Attractor Factor.

Be Careful! Avoid corrosive influences!

Many of the people closet to you will discourage your growth. The reason is simple they see you the way
you were.

A friend who lost 35 pounds told me that along the way he felt resistance from
people around him, even though he had more weight to lose. They were used to
seeing him over weight and unconsciously resisted his efforts to become thin.

It is always this way, for one reason- people who know you see the way you were.

They will not see you differently until they seen the new results for awhile.

That's just the way it is. Get over it. Don't look to the people who know you best to encourage you.
They can't see a different you until they see different results.

Instead, spend extra time with people who have been successful in your Red Bucket area! ( the area you are trying to change) Spend time with people who know you
can achieve it.

Avoid corrosive influences! And keep moving forward!

Tankless Water Heaters..Are they worth it?

2009-07-14T13:15:00.000-07:00

Tank, Tankless or Thankless
by PJ Wade
Is going "tankless" as liberating as it sounds? Is owning a tankless water heater a solid indication that you're saving money while reducing environmental damage?

Your answer to these questions may depend on whether you own or are buying a newly-constructed home versus living in or purchasing an existing, decades-old property.
Conventional water heaters heat litres of stored water which is kept hot 24/7, even when there is no demand. Tankless units are heaters which heat water on demand, then stop.
First of all, don't get sanctimonious if your tankless water heater was part of the features of the new home you bought or had built. Starting from scratch and incorporating energy-efficient, environmentally-friendly systems during construction is always easier, and usually less expensive, than retrofitting, or adding a modern system to an older home.
The benefits and cost-considerations of tankless water heaters in new homes can make this installation a feasible if not a preferred alternative to conventional tank-style heaters. New home construction standards are normally higher than those that existed for homes built in the last century or earlier. New plumbing, electrical, sound-proofing and other systems favour optimum installation and operation of tankless water heaters and other modern technologies.
If you own or want to buy an existing property, your commitment to reducing "your footprint" and saving energy may not be enough to make tankless water heaters the right way to achieve your environmental and financial goals. You can still have an energy-efficient, green home with a conventional water heater, but you'll just have to go about it differently.
One of the most important lessons to learn about the current rush toward "green" is that there are just as many inappropriate applications of good ideas and over-sold environmental or energy-efficient solutions as there are "right fits."
Don Fugler, Senior Researcher in Policy and Research at Canada's national housing agency, Canada Mortgage and Housing Corporation (CMHC), is currently managing CMHC's initial tankless field project designed to determine the actual savings gained when converting from a well-functioning conventional water heater to a tankless unit.
"Basically, what we hear is that tankless water heaters do save energy in a lot of cases, but what is not necessarily established so far, is what people should expect," said Fugler. "It is probably different from the theoretical savings—that you just calculate based on efficiencies. What house usage is unlikely to get significant savings? The fact [is] that water heater usage or homeowner draws on hot water are a lot different in reality than they are modelled in standards. This makes a difference because the way they are modelled in standards actually benefits tankless water heaters. I don't think they set it up this way, it just does."
Tankless water heaters are not a new idea, just relatively new to Canadians. In retrofit situations, they may not always be practical, cost-effective or feasible. Fugler offered a few issues to consider in evaluating whether tankless is right for you:
Net result may not be a gain "Part of the problem, or part of the solution, is tank heaters lose their heat to the house....So even though a conventional water heater does lose heat, it is seen to be heating your house and that is an asset for two thirds of the year.... In Canada, which is more a heating than a cooling climate, tankless is only going to have a third of the advantage that it may have in a cooling climate." Fugler explains that expected savings from converting to tankless may not materialize because, while fuel consumption by the water heater may go down, fuel consumption to replace heat to the house may increase. This has been found for shifts to high-efficiency furnace fans and CFL light bulbs.
Billing disappointment The quoted percent of savings should be applied to the portin of the gas or electric bill represented by the water heater. With all the charges piled confusingly on a gas bill, an absolute savings may not be visible. If you expect to save significant amounts, you may be disappointed.
Pay back clarity For the two reasons above, the quoted pay back time may be hard to calculate or much longer than stated. Sales representations would normally include best case scenarios. Where hot water bills are high, savings could be more noticeable. With low or conservationist usage, the savings may be small and the pay back much longer.
Hot water delivery How long does it take hot water to arrive at the tap? Since home designs usually locate heaters in an otherwise unused corner of the basement, second-floor and higher bathrooms may be a long way off. Having to run water as long as 5 minutes to get the hot may result in wasted water. Low-flow shower heads increase delivery time. Anti-scald valves like those required in new homes may also interfere with hot water availability. Recirculation pumps may help this problem, but that's another cost to consider.
Heating differential Municipal water may be very cold, requiring considerable fuel to heat it to the desired temperature. Drain water heat recovery installations recycle hot wastewater to heat up incoming cold water to warm by spiralling the wastewater piping around the intake pipe. However, this approach is only practical for those who regularly take long hot showers, not baths.
Flow limits and use patterns Tankless heaters have minimum flow limits, so they don't heat water for small draws like rinsing your hands. Some users turn on a second tap to reach the flow threshold for hot water at the tap where they want low flow hot water. It is this type of water-waste pattern and other use changes that are of interest to Fugler in the current research project. To achieve maximum desired flow, particularly to have two or more simultaneous uses with lots of hot water, intake pipes may need to be increased to 3/4 inch from the conventional ½ inch. In large, high-usage homes, more than one unit may be advisable.
Adequate fuel supply Gas supply input may need increasing to 3/4 inch pipe to achieve desired hot water flow. A comparable cost may be required to upgrade to a larger service panel for an electric tankless unit.
Venting and noise The exhaust gases and moisture from gas tankless water heaters are vented outside, not into a chimney, in a manner dictated by bylaws and codes. Proximity to neighbours may cause complaints about noise and condensation, or it may make the installation impossible. Decks and patios may also restrict venting choices. More expensive and higher efficiency condensing units may offer more venting flexibility, but installation costs may increase. If venting is not possible, an electric unit may be the only tankless alternative.
Tankless water heaters are expensive to purchase and installation in Canada. Fugler predicts that these and other issues will be resolved through technological advances and government regulation. Tankless water heaters will become the new normal in the decades ahead.
For now, invest in knowledge in advance of a purchase, or regret in hindsight...your choice. Don't rely on salespeople or installers to make decisions for you. Buyer beware is the law. Buyer be aware is the solution.

What will Interest Rates do?

2009-06-24T09:46:00.001-07:00

Finally the MBA lowered their market projections, which are in line with what we had been thinking for the rest of the year.

Washington, DC (June 22, 2009) — The Mortgage Bankers Association today lowered its forecast of mortgage originations in 2009 to $2.03 trillion, a drop of over $700 billion from its March forecast. $84 billion of the drop is due to lower purchase originations and the rest is due to lower rate/term refinancings and very low volumes in the Fannie Mae and Freddie Mac Home Affordable Refinance Program (HARP). MBA is now forecasting $737 billion in purchase originations and $1,297 billion in refinance originations.
In announcing the drop in the forecast, MBA’s Chief Economist Jay Brinkmann issued the following statement:
“In March we boosted our forecast of mortgage originations by over $800 billion following the drop in interest rates associated with the Federal Reserve’s announcement on the Treasury bond and mortgage-backed securities (MBS) purchases programs as well as the implementation of HARP. We warned at the time that with the billions in Treasury securities that would be issued to finance record budget deficits and with the Fed expected to purchase only a portion of those Treasury securities, how long rates stayed low would depend on whether other investors stayed in the market. If other investors shied away from Treasuries due to expectations of future inflation and the declining value of the dollar, the effect on rates would be more short-lived and our mortgage originations forecast would prove too optimistic. That has proven to be the case.
“While the Fed has been successful in reducing the spread between conforming mortgage and Treasury rates through its purchase of agency MBS, it has not been successful in maintaining lower Treasury yields. Since March, the Federal Reserve purchases have equaled approximately 85% of new MBS issuance for Fannie Mae, Freddie Mac and Ginnie Mae combined. In contrast, Federal Reserve purchases of long-term Treasuries equaled about 50% on new issuance during that same three month period. Given the high issuance volume of Treasuries in June, the Fed is likely approaching its self-imposed ceiling of $300 billion and may be reluctant to increase its current commitment to purchase long-term Treasuries for two reasons. First, Fed officials have made public statements about their outlook for an improving economy. Second, the Fed may have decided that its purchases may not be efficacious in maintaining lower long-term Treasury rates and may not be worth the risks entailed in building up a large Fed balance sheet that will need to be reduced at some future point.
“The March increase in refinance originations was driven by two factors. The first factor was the drop in interest rates. The subsequent increase in interest rates, however, began to choke off the refinance wave in May, much earlier than anticipated in the March forecast. The second factor was the large volume of loans expected from HARP. While generally accepted estimates were that around 1.5 to 2 million borrowers might avail themselves of this program, with many more potentially eligible, to date only about 13,000 loans have been completed according to press reports. While the number of loans completed under this program is likely to increase, it is difficult to craft a scenario under which origination volumes would come anywhere close to reaching the numbers originally envisioned for the program, particularly under our higher rate environment.
“MBA had estimated that purchase mortgage originations in 2009 would be $821 billion. We have now lowered this to $737 billion for several reasons. First, while home sales have been higher than expected, home prices have fallen more than expected leading to smaller loans. Second, the large share of distressed sales or homes purchased by investors has resulted in the share of all cash home purchases being higher than normal. Therefore, even with higher projected home sales for all of 2009, the projected lower average home price and higher cash share have combined to lower projected volume of purchase originations.
“MBA now projects that total existing home sales for 2009 will be 4.8 million units, a drop of 1.2 percent from 2008. MBA projects new home sales will be 352,000 units, a decline of about 27 percent from 2008. Median home prices for new and existing homes will likely continue to fall, dropping by about ten percent from 2008 levels, but leveling off in 2010 as the economy improves.
“There are several schools of thought about where long-term interest rates are headed. One school holds that continued anemic growth and high unemployment will combine to hold down inflation and the demand for debt. The increase in government debt has been partially offset by declines in other forms of debt, especially mortgage and other consumer debt. The result will be long-term interest rates at approximately current levels through the end of 2010. Another school of thought holds that the large increases in federal debt will put tremendous pressure on domestic and international investors to absorb this debt, and that the large increases in the money supply and declines in the dollar could trigger inflation, all leading to higher rates. The MBA forecast is for increasing rates through the end of the year and through 2010. Adding to the pressure for higher long-term Treasury yields is the notion that, at some point, the Fed has to withdraw the substantial liquidity it has injected into the financial markets to keep a lid on expected inflation. On the other hand, a resumption of a flight to quality, induced by political unrests around the globe or a renewed financial crisis, could cause long-term Treasury yields to reverse their course.”

Petition against New Law for Appraisals!

2009-06-17T09:39:00.000-07:00

Request For Reconsideration of HVCC
View Current Signatures Sign the Petition
We the undersigned understand that the intentions of the Home Valuation Code of Conduct ("HVCC") were to help curb the potential for fraud with respect to the valuation of residential properties. We must however bring to your attention the reality of the situation that HVCC has already caused.
Since "Appraisal Management Companies (AMC’s)" are taking up to 40% of the total appraisal fee, and are not being regulated to ensure that their appraisers are licensed and competent, we are seeing unlicensed and inexperienced individuals performing property inspections with grave data entry errors. These inferior appraisals are then being “signed-off” by other parties that NEVER INSPECTED THE PROPERTY and are creating unnecessary financial hardship for buyers and sellers.
With mortgage loans being denied due to inaccurate appraisals, borrowers are being forced to apply with other lenders who in turn have to charge the consumer ANOTHER APPRAISAL FEE to proceed with the transaction. This vicious cycle can go on endlessly costing well intended clients a great deal of money and time.
Under HVCC, no one involved in the transaction is allowed to communicate these major issues (EVEN LICENSED LOAN ORIGINATORS) directly to their appraisers. So countless real estate transactions that would have otherwise closed are now failing, resulting in continued property devaluation and offering NO stimulus to our economy with the exception of the unregulated AMC’s who are making unjustified profits at the expense of home loan applicants and licensed, qualified appraisers.
Licensed appraisers have legal and ethical standards in place already. The emphasis should be on making appraisers abide by these, rather than frustrating the ordering and communication process. This well intended legislation is severely misguided. Although HVCC has good intentions, its flaws are severely hurting our housing industry, the consumer and our economy. We are requesting that HVCC be discontinued or thought through thoroughly and retooled in order to stop the devastation it has caused and will continue to cause on our housing industry and our economy. Sincerely, The Undersigned

Click here to sign http://www.hvccpetition.com/SignPetition.aspx

Local Sales up but Values are down

2009-06-12T11:27:00.000-07:00

Local Business
Local home sales up, but values down
$210,000 was median price in May, 16.3% less than last year
Thursday, June 11 5:35 p.m.
BY CAMI JONERCOLUMBIAN STAFF WRITER
Sales of new and pre-owned homes in Clark County inched up from April to May, but the still-sluggish market and a spike in local foreclosures are dragging down home values.The median price of all new and pre-owned homes sold in May was $210,000, according to benchmarks, a service of Riley & Marks appraisal firm. In May 2008, Clark County's median was $251,000. That represents a 16.3 percent year-over-year decline.Shrinking sales prices are due in part to the county's rising number of short sale listings, said Sharry McNeel, a Realtor and sales associate with Coldwell Banker Barbara Sue Seal Properties in Vancouver. Time-consuming short-sale transactions — in which homeowners negotiate to get their lenders to take less than is owed on the mortgage — can cause deal-killing backups as buyers wait for months to hear whether the bank has accepted their offer."Until they can get some of these short sales off the market or moved, it's tough. There's a big clog in the drain," McNeel said.410 homes sold in May
Countywide, 410 homes were sold in May, a 17.7 percent decline from the May 2008 total of 498. Median price of pre-owned homes sold last month was $208,750, down from $246,000 in the same month last year. The median price of a new home was $248,212, down from $279,900 a year ago. It's hard to tell whether the free fall in prices is nearing bottom, said Dick Riley, a Riley & Marks co-owner."If we haven't, it's scary. When you look at a median of $210,000, that's really low," he said. Riley blamed job insecurity and the county's rising unemployment rate at 13.4 percent in April for slow home sales that have kept many buyers sidelined since 2007."When in doubt, what do people do? They don't do anything," Riley said. "They hunker down."He pointed out the market's positives, such as the county's high inventory of homes listed for sale, softening prices and mortgage interest rates that remain below 6 percent, despite inching upward. The average rate for a 30-year fixed mortgage was 5.59 percent this week, up from 5.29 percent last week, according to Freddie Mac. The last time the average 30-year mortgage was higher was the week of Nov. 26, when it averaged 5.97 percent.Low loan rates
Low loan rates could be one reason May saw an uptick in the new-home sales category, as home builders worked to clear their backlog of inventory.For the month, 77 new homes were sold, compared with 48 new homes in April and 53 new homes in March."The builders pay higher interest rates," McNeel said.That has cut the profits of new-home builders over the past year, said Michael Shanaberger, sales and marketing director for Manor Homes in Vancouver."We're not really taking a loss, we're just not making any money," he said.Other home builders say they are scrambling to sell off "spec" houses, homes that were built without a buyer in hand.Kevin Wann, president of Vancouver-based Pacific Lifestyle Homes, said he sees the market stablizing."I am encouraged that people are out there," Wann said. "It doesn't feel like it's continuing to drop."

Showing Your Home Successfully

2009-06-02T13:47:00.000-07:00

Showing Your Home Successfully
Your house should always be available for show, even though there may be times that will be inconvenient for you. Allow your Realtor to put a lock box on the front door to make it easy for other Realtors to show your home to their prospective homebuyers. Otherwise, prospective buyers and selling agents will have to schedule appointments for later dates, which is a nuisance and inconvenient. The majority of these potential buyers and selling agents will simply skip your home to show the house of someone else who is more cooperative. Find Something Else To Do Potential buyers will feel like intruders if you are there when they visit, and they might not be as receptive toward touring your home. Take your family to the closest park or stop by your local Starbucks. If you are still adamant about staying, and will not take my advice, remain in an out of the way area of the house and do not move from room to room. By all means, keep quiet, and do not volunteer any information. Feel free to answer any questions that the prospective buyer or the selling agent may ask. Lighting to Set the Mood When you know that someone is coming by to show your home, turn on all the indoor and outdoor lights, even during the day. In the evening, a house that is full of light, gives a warm, and inviting impression when viewed from the street. During the daytime, having al of the lights on prevents harsh shadows from sunlight, and brightens up any dim areas. Trust me; your house will appear more inviting, and cheerful with all of the lights on. Just remember to turn all of the lights off after the showing so as not to make an extra donation to your local utility company. Inviting Scents Whatever you do, stay away from scented sprays when you are preparing for showings. It is very obvious to prospective buyers and selling agents and many will find the smells of those sprays offensive, not to mention that some may be allergic. If you are trying to achieve a pleasant aroma in your house, a little preparation is in order. Purchase a potpourri pot, a scented candle or something else natural. If you have not planned for this event, simply turn on a stove burner for a moment and put a drop of vanilla extract on it. It will smell like you have been cooking all day. Believe It Or Not, Everyone Does Not Like Fido If you have pets, make sure your listing agent puts a notice with your listing in the local Multiple Listing Service. The last thing you want is to have Fido running out the front door and getting lost. If you have been given enough time, and know someone is coming to show your home, take the pets with you while the prospective homebuyers and selling agents tour your home. If you absolutely cannot take them with you, it is advisable to keep Fido in a penned area in the back yard. Try to keep any other pets, such as cats, in a specific room when you expect visitors, and e sure to place a sign on the door. Most of the time, an indoor cat will hide when buyers come to view your property, but they may panic and try to escape. Remember, not everyone is a pet lover. The Kitchen Trash Make sure you empty your kitchen trash before every showing. The prospective homebuyer is more than likely going to open up every cabinet and door in your kitchen, the last thing they want to see is garbage. Remember that you want to send a positive image about every aspect of your home. Kitchen trash does not, and will not, ever send a positive message. You may go through more plastic bags than usual, but that small cost is well worth it. Cleanliness Is Next To Godliness Not everyone makes their bed, and tidies up everyday, but when you are trying to sell your home, I strongly recommended that you quickly begin to develop the habit. Pick up daily newspapers, do not leave empty glasses on end tables, and most importantly, keep everything freshly dusted and vacuumed. Try your best to have it look like a model home.

Todd Little
President at Americas Housing Educators, LLC

2009-05-13T15:23:00.000-07:00

Energy Star Partner

2009-05-04T13:39:00.000-07:00

http://http://www.mymanorhome.com/resources/energystar.php

Q&A: "Building Your Business Using the First-Time Home Buyer Tax Credit"

2009-05-04T13:37:00.000-07:00

http://www.realtor.org/rmonews_and_commentary/articles/2009/webinar_taxcredit_participantquestions

Housing poised for recovery

2009-03-15T15:56:00.000-07:00

Marketplace: Housing poised for recovery
Saturday, March 14 5:15 p.m.
BY JULIA ANDERSON,COLUMBIAN BUSINESS EDITOR
Julia Anderson
Scott Mikel

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Two longtime Clark County housing industry professionals — one on the construction side of the business, the other on the selling side — see reasons why our housing market is poised for some sort of recovery.Builder Jon Girod of Quail Homes in Vancouver said last week that his company has seen an increase in first-time home buyer activity in the $180,000 to $280,000 price range."Prices have come down enough that our research shows about 19 percent of area households can again afford to buy a home," Girod said. "That has been about the average for the past 20 years. With the $8,000 Obama tax credit to first-time buyers, home construction well below averages and (federal) bailout money in the pipeline, it looks like home building and sales might improve."Girod’s graphs show that housing starts spike after big downturns such as the one we are experiencing. He expects that to happen again."At the end of 2008, we saw home sales increase in six states including California," he said. "We tend to follow." He sees inventory and prices stabilizing and buyer interest improving. "Home prices here increased at an average rate of 8 percent a year from 2000 to 2008," he said. "That is twice as fast as the average increase of the 10 years from 1990 to 2000. The market had to have a correction of about 25 percent to get back to the average. That’s about what we’ve had."In the past year, the median price of houses sold in Clark County has dropped 8 percent to $239,000. But in upper-end categories — $500,000 and above — there have been more dramatic price declines.Meanwhile, Clark County Realtor Scott Mikel also has been tracking data that give him hope for recovery.Mikel looks at pending home sales, where a buyer has officially made an offer on a house. He compares pending sales to the total number of houses for sale in the market. A year ago, the ratio was heading into deep negative territory; this year the market seems to be clawing its way back.Mikel said Clark County housing hit bottom in July 2008 when more than 5,400 houses were for sale here. That total has dropped to 4,180. "Yes, there are a lot of foreclosures and yes, some people have pulled their homes off the market," he said. "But if we get below 4,000 that will take us back to 2007."Pending sales grew by 11 percent in February and closed sales increased by 10 percent from January, according to the RMLS multiple listing service in Portland."Since a large part of the economy is driven by consumer confidence and attitude, I think we are missing an important component if we just report the transfer of title that is often old news and not people’s ‘intent to purchase,’ which is in many ways a better indicator of current confidence," Mikel said.Both Girod and Mikel have been in the business a long time and use numbers, not emotion, to plan strategy. Both see a housing recovery on the horizon.

The Time to Invest In Real Estate is Now!

2009-03-12T11:38:00.000-07:00

March 12, 2009
'The' Time to Invest in Real Estate is Now

by Peter L. Mosca
Note: To follow is an excerpt of an interview with Marc Stephan Garrison, founder of the National Association of Real Estate Investors, and author of several books on real estate investing including "Unlimited Real Estate Profit." To listen to the show archive or download an MP3, go to www.IncomePropertyInvestmentTalk.com/021809.
Mosca: What is happening in America today as it relates to real estate and real estate investing from both a residential and a commercial side?
Garrison: All real estate exists in one of four-cycle stages and that would be Expansion, Equilibrium, Decline, and Absorption. I invest, and take investor clients, into absorption markets. On Saturday, I will be flying to an absorption market where there are new jobs that justify construction, and will provide a positive cash flow from day one. Every single listener right now can get involved in these absorption markets. There are dozens of them in the United States. The key is due diligence. In fact, I am looking for new markets to go into in May. I have a rule: I go out with investors four times a year and only go into the very best markets. It is no different than what Mike Anderson and Nathan Hanks have been doing at RealSource since 1989. They do the due diligence, they discover markets, and they take advantage of the opportunities in markets. For example, this coming Saturday I will spend a week in a market with a group of 25 investors and these people will buy about $23 million worth of real estate. I have a whole group of investors that I have taught that have become self-made real estate millionaires because of our conversations and because of our buying tours. Those people will actually volunteer time to help your listeners do the same without a charge. RealSource offers your listeners a free consultation with its Client Advisors by going to Income Property Investment Talk dot com, and that’s what I believe in. I have some of the very best mentors. They are not selling anything. They are not trying to get your money. They just want to help. Bottom line: Whatever stage you’re in; there is a way to invest.
Mosca: What is your take on independence versus relying on relationships or is there a combination of both that works well for investors?
Garrison: You cannot do this on your own. You absolutely have to have a mentor. I know it because that is what I experienced. I had a mentor. People can contact you and if they're interested I can get a phone number and I will outbound a call to you, the listener. You just can’t do it on your own. We’ve been doing market tours for 22 years. We start on a Sunday with a meet and greet. Monday is an all-day class session. We go out on a bus looking at the investment properties on Tuesday and Wednesday. We furnish the demographics, the market, the deals, and the mentors. I cannot emphasize more the importance of having a mentor. If you're not in a position to put up a lot of money to invest in a partnership with RealSource, I can present to you two or three investment properties that will give you positive cash flow every single month from day one.
Mosca: I agree. The mantra in real estate -- location, location, location – has a great deal to do with success. How important is understanding migration patterns?
Garrison: You have to understand the cycle stage for the market that you want to invest in. Then, once you know the cycle stage, you need to use the tools that teach you how to invest profitably in that particular market. My Web site at NAREI.com, and my latest book, Unlimited Real Estate Profit, can help you better understand the fifth migration and why people are moving. People are moving for survival; so they can have jobs. In the market that I am going to this coming Saturday they have about 37,000 new jobs moving into that city. For every new professional job that moves in, there is an ancillary effect. That ripple effect is basically one new professional job equals 4.2 service sector jobs.
Mosca: I urge caution when I hear the word "bargain." There are opportunities out there, but just because prices may be down, that does not equate necessarily to a bargain or a great place to invest. Correct?
Garrison: Absolutely right. You can’t make the market change. The bottom line is you cannot just invest in real estate in your backyard. Your own residence is not an investment it is a place that you're going to be able to live when you retire. Your goal through real estate would be able to generate profit, flipping properties, buying short sales, and buying foreclosures in markets that are advancing, these absorption markets that are moving back into expansion.
Mosca: The top three foreclosure markets -- California, Arizona, and Florida -- have shown signs of slowing down. While still above national average norms the number of foreclosures has been slowing in those three states. Do you think that this is a blip or do you think maybe the enthusiasm and the excitement behind the new president, his administration and his policies might be having a positive effect on real estate?
Garrison: I absolutely believe there is a change in the climate in Washington, DC. I view it as positive for us as real estate investors. All markets will be touched.
Mosca: What is your golden nugget?
Garrison: Since 1985, I have taught thousands of investors on my buying tours and every one of my students, ‘live where you want to live, but invest only where it makes financial sense.’

The $8000 Home-Buyer Tax Credit

2009-02-25T16:37:00.000-08:00

Recently, I have been getting a lot of phone calls and e-mails asking me questions about the $8000 home-buyer tax credit so I wanted to answer the most asked questions and make it as simple as possible.
So who gets the credit? First-time home buyers or someone who hasn't owned a home in three years.
How much is the credit? $8000 or 10% of the home's value, whichever is less.
What do you have to do to get it? Claim it on your 2008-2009 taxes.
It's totally refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of withholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount
Is there a deadline? The purchaser must purchase their new home between January 2009 to November 2009.
Do you have to pay the money back? If you reside in the home for three years, you do not have to pay it back.
Are there any restrictions? Yes. buyers must make less than $75,000 for singles or $150,000 for couples. Higher-income buyers may receive a partial credit.
Is it easy to apply for the credit? Yes. It's as easy as filing your taxes.
What if you already filed your taxes? If you have already completed your tax return, you can file amended returns for 2008 to claim the credit.
It's a great incentive if you are a first-time home buyer. With low interest rates, low home prices, plenty of inventory and now this tax credit, I find myself wishing that I was a first-time home buyer again.
If you are on the fence, it may be time to jump off.
Renee Porsia is a Realtor in Philadelphia.

The Federal Stimulus Package

2009-02-10T11:04:00.001-08:00

The Federal Stimulus Package will get approved. It may not be perfect and may not produce immediate results, but it will add some level of confidence. The government sponsored $15,000 tax incentive is also going to become a reality. It will apply to buyers of new or used homes, first time buyers, move-up buyers and active adults.

A word from Met Life

2009-02-03T12:34:00.000-08:00

January was an excellent month for mortgages as far as rates went. However, with volume that accellerated at an unprecendented pace due to the government intervention in the mortgage backed security market lenders felt themselves overloaded and raised rates to control volume towards the end of the month. However, even with the "higher" rates we still finished around 4.75% on the conforming and around 5% on the FHA 30yr fixed.
The market we are working in is best described as a "contrived" one. We wouldn't be here without the federal government using bail-out funds to purchase MBS's(mortgage backed securities). This intervention is scheduled from January-June. I imagine the powers that be will re-assess towards the June if any furthur intervention will be needed. The point of this is that buyers need to be made to understand that this is a once in a lifetime opportunity. The lowest rates ever plus low purchase prices equal something we will probably never see again. We have some print material showing this if any of the sales agents would like something to use to educate clients.
Another thing you are probably hearing is "We are waiting for rates to go lower". Don't hold your breath! At this point the secondary market isn't set up for sub-4% rates. There is no actively traded sub-4% MBS coupon so there is no way for lenders to replenish their pipelines if they sell a sub-4% rate. If this changes, then maybe we will see a lower rate, but I still wouldn't wait for it.
We are finally seeing purchase inquiries pick up as the rates stay low for this extended period. The more we can get the word out of how this is a unique opportunity the more purchase business we will see.

Some numbers-

At a $200,000 loan amount-
5%=$1073/month P&I
6%= $1199/month P&I A $126/month difference. (And 6% is still a historically low rate.)

To make the some payment ($1073) at 6% the loan amount would have to be $179,000. That 1% rate drop is worth 10% in buying power! That is over $20,000 in "free" money and it's not going to be around forever!!

If you need a flyer showing this example to buyers please contact one of the Metlife loan officers.

Thanks for letting all of us be a part of your team. We look forward to being a part of your success!

Giles Rebholz
Timothy Ostrom
Deak Allison
Jarod Wallace

Fellow Members of the Homebuilding Industry: Your Industry Needs Your Help

2009-01-28T10:14:00.001-08:00

Fellow Members of the Homebuilding Industry: Your Industry Needs Your Help
We work with builders all over the country, and over the past year, we've seen builders and salespeople struggle through a downturn that seems to get more difficult and encounter greater complications every step along the way to recovery. The difficult times we're in have reached far beyond the home building industry and are now affecting the entire U.S. economy. Attendance at the International Builder's Show last week in Las Vegas was down, and so was the mood of most folks there. I am writing to personally request your assistance to use your political strength as a voter in helping to turn our industry around.
One of the biggest problems we're facing is falling home prices. Falling home prices are crippling our industry, and the effects are rippling through the entire economy. Fix Housing First, a coalition of more than 600 organizations led by the National Association of Home Builders, is asking Congress to pass a bill that will motivate people to buy homes now, which would in turn curb falling prices.
The two main points of the Fix Housing First bill are as follows:
The federal government would offer a tax credit of between $10,000 and $22,000 (depending on locale) to anyone closing on the purchase of a home, new or resale, by December 31, 2009. The credit would not have to be repaid, which is a major upgrade from a tax credit passed last summer; and
The government would provide a federally-subsidized 30-year fixed rate mortgage of 2.99 for all home purchases, new and resale, closing by June 30, 2009. After that, the rate would be 3.99 for purchases closing by December 31, 2009.
The Fix Housing First coalition is in Washington, D.C. right now working to win lawmakers' support for the bill. Again, I am asking for your assistance in creating the urgency the coalition needs to secure the bill's passage and start turning our economy around. It seems that our political leaders in Washington can seem to find trillions of $$$$$ to "bail out" banks and other idustries, so a push from all of us may get the message to them that Fix Housing First is a smart, prudent and fast way to truly begin to stimulate the economy. Every email, phone call and letter counts. I sincerely hope that you will take just a few minutes right NOW to help our industry and our economy.
Please read the information below to learn how you can help. Thank you in advance for your effort.
Sincerely,Bob SchultzPresidentNew Home Specialist Inc.
Here's how you can reach your elected representatives to let them know where you stand on America's housing crisis.
Send an email or letter through Fix Housing First:
Click on the following link: http://capwiz.com/fixhousingfirst/issues/alert/?alertid=12168626&type=CO
In "Sender Information" you are required to provide your name and contact information. The information will not be used for any other purpose than to identify you to the recipient.
The system may ask you for an additional four digits to accompany your ZIP code (some Congressional offices only accept ZIP+4 coding.) If it does, go to this U.S. Postal Service website: http://zip4.usps.com/zip4/welcome.jsp and enter your street address, city and state. It will provide you with a ZIP+4 code for that address.
Some newly-elected Congressional representatives are not yet in the email system, so you may be prompted to print and mail a letter. The system allows you to edit the letter.
If you choose, you can sign up and join the Fix Housing First coalition before sending your email message. You can also forward an email message to suppliers, vendors, associates, friends and family from FHF.com, encouraging them to get involved.
Fix Housing First also encourages you to pick up the phone and contact your representatives directly.
Call the NAHB's Legislative Hotline, 1-866-924-NAHB (6242);
Follow the instructions and you'll be connected to your members of Congress. Once connected, please tell them you are a constituent calling about the economic stimulus plan, then make the following points:
Stimulating demand for housing must be a central part of any economic stimulus bill - foreclosure prevention alone is not enough;
To accomplish this, please support enhancing the existing homebuyer tax credit and creating a short-term mortgage rate subsidy;
If the phone lines are busy, and we hope they are, please keep trying until you get through.
Encourage everyone you know to join in calling for Congress to Fix Housing First!

Write your Politicians!

2009-01-27T09:49:00.001-08:00

As you begin to craft an economic stimulus plan, I am writing to urge you to include provisions to address the lack of demand for housing.
Foreclosure prevention plans are valuable but alone do not effectively address the root of our current economic crisis - housing. We need to spur demand for homes in order to increase home values and get our economy back on track.
Home prices and property values are on a steep decline across the country, causing a dramatic near stand-still in home purchases. Because housing is so central to our economy - accounting for nearly 13% of the U.S. GDP - several sectors of the economy have been severely affected by this downturn. Almost 85,000 jobs have been lost in the past two months in the construction industry alone, mostly in specialty trades related to home building. Many other jobs were lost indirectly as a result of the housing crisis.
Acting now is critical. Foreclosure prevention coupled with short-term, targeted incentives will encourage Americans to buy homes again. Congress should enhance the Home Buyer Tax Credit for residences purchased between April 2008 and December 2009 to up to 10% of the home price or $22,000, depending on geography. In addition, buyers should have access to discounted mortgage financing that would encourage eligible home buyers to enter the market.
History proves that tax credits for home buyers work to bolster the economy; in 1975, Congress passed a short-term tax credit for all new homes, coupled with subsidized mortgage rates. The stimulus jump-started the depressed economy and the effects continued long after the measure expired.
To stop the fall in home values, to spur job creation and to encourage people to buy NOW instead of later, I urge you to support this measure.
Thank you for your consideration.
Sincerely,

Michael Shanaberger
3609013908

Housing Market Fixes

2009-01-27T09:41:00.000-08:00

Only Action Will Save The Housing Industry - and the American Economy. The NAHB convention in Las Vegas has just ended. With attendance hovering around a measly total of 45,000 exhibitors, associates and builder members - down from a reported 120,000 just two years ago - it was obvious that something drastic has hit the housing industry. It is also just as clear that this deepening recession cannot and will not be reversed without a recovery in the housing industry. History has shown that housing always leads our economy out of a recession.We all have choices... We can sit back and hope for housing improvement, but "hope" is neither a strategy nor a long-term solution. Or we can get proactive and concern ourselves with making the federal housing stimulus plan a reality. Billions of dollars are going to the banking and automotive industries. Now it is time to get the Obama administration to "change" the downward direction of OUR industry.If you're ready to take action, please go to www.fixhousingfirst.com. This site gives a clear and detailed overview of the effects of a stimulus plan for the housing industry. Once you're educated on the policy, contact your congressional representatives. Make sure they know how important this legislation is to you - and to our economy. Then, pass this message on to others. Get them involved. Please act now. Doing nothing achieves nothing. This could save your company and your job. Acting now may prove to be one of the best business and personal decision you'll make this year.
Rich
Richard Elkman, President, Group Two Advertising

2009-01-19T18:18:00.000-08:00

The biggest risk for this year is that fiscal and monetary policy have limitations, and we should not count on these policy instruments to save the year. Furthermore, while many are saying that the U.S. economy is heading into a deflationary process, the truth is that, so far, the only thing happening is that we are going through a process of disinflation, not deflation.

Manor homes Closes 2008

2009-01-10T14:16:00.000-08:00

2008 is behind us we ended up with 169 Clossings this year 139 of those just in Clark County.

Sales our target was 240 we sold 208 in this market we did well!

We pulled 116 New Home Building permits wich was 47% of the permits in Clark County.

We are ready to serve our homebuyers and make 2009 a huge successful year positioned for 2010!

2009: Year of bottom line?

2009-01-10T14:11:00.000-08:00

Michaelsen Community in Felida Washington

2009: Year of bottom line?
Money will be the common denominator for major issues
Wednesday, December 31 8:15 p.m.
BY JEFFREY MIZECOLUMBIAN STAFF WRITER
Work continues on “Michaelsen,” a housing development being built by Manor Homes off Northwest 116th Street. Construction started after 10 of the 14 homes in the development were sold. (Zachary Kaufman/The Columbian)
One common denominator will shape Clark County’s top stories for 2009: money.-- Housing markets will struggle to rebound from the worst year in memory.-- State agencies, schools and cities will cope with the sting of budget cuts.-- Big-ticket projects, including the Columbia River Crossing, will scramble to refine financial plans.With unemployment and foreclosures rising and credit markets and consumer spending tanking, the pursuit of the almighty dollar will be front and center in 2009.Many of these big stories will continue to unfold in 2009 without final resolution. For example, work on replacing the Interstate 5 Bridge has been under way for much of this decade, but no one expects a final plan, complete with dedicated funding, to be sewn up by the end of this year.With that in mind, here’s a look at what to expect in 2009:Housing market
Real estate agents, homeowners with adjustable mortgages and others would just as soon forget 2008. Will 2009 bring a rebound or more misery? Is the worst is still to come? Home sales fell 33.3 percent in 2008, a year when prices dropped and foreclosures increased. But some real estate experts say there is hope for home sellers as buyers begin whittling away at the housing stockpile.“I am hopeful that by mid-2009, we’ll see some definite signs of improvement,” said Sandy Hendrick, executive director of the Clark County Association of Realtors.Hendrick expects softening home prices and abundant selection to rev up the local home-selling scene, a jump start that others say will be helped along by low interest rates on mortgages and a $7,500 federal tax write-off being offered to first-time buyers who purchase homes before July 1, 2009.“It looks like the government is going to stimulate refinancing and purchasing,” said Kerry Greenwald, owner of Creekside Mortgage in Vancouver.“If you can borrow money at 4.5 percent and get the government incentive, buying begins to look attractive,” Greenwald said. He also expects 2009 to be a banner year for mortgage refinancing.National reports caution that the optimism of real estate experts could be premature, given the country’s deepening recession and mounting job losses.Bridge planning
Last year was a big milestone for the multiyear process toward easing chronic congestion for trucks and commuters, with local governments on both sides of the Columbia River signing onto a plan to replace the aging I-5 Bridge and bring light rail to Vancouver.This will be a year of refinement, with bridge planners working to pin down the number of lanes, the design of the bridge and any architectural flourishes that might ease apprehension of those who see the current proposal as overly utilitarian, entirely unimaginative or just plain ugly.Bridge experts also will sharpen a whole series of financial issues, re-examining construction costs and refining tolling scenarios and working with state and federal officials who will need to finance a large portion of a project expected to cost anywhere from $3.5 billion to $4.2 billion.The big decisions on tolling and financing are still a year or more away. A federal record of decision, a bureaucratic blessing of the project, isn’t expected until sometime in 2010. Neither the Washington nor Oregon legislatures will spend much time this year searching for hundreds of millions in construction dollars for the bridge.The crossing project will lose out on any first phase of economic stimulus package that Barack Obama wants to sign shortly after becoming president on Jan. 20. The initial focus will be on “shovel ready” projects that can begin in 90 to 120 days.The project continues to face grass-roots opposition from environmentalists wary of perpetuating an automobile-based culture and commuters reluctant to pay $1,000 or more a year in bridge tolls. For many of these people, this is simply the wrong project in the wrong place at the wrong time.Budget cuts
Schools have been struggling to balance their books for years, but the 2009-11 biennium may deliver a blow. Gov. Chris Gregoire’s proposed budget includes $1.1 billion in cuts to education. Savings would come from pensions, salaries and professional development. Gregoire’s office also proposes cutting 21 percent of Initiative 728 dollars and programs, such as a bilingual pilot, a civics curriculum pilot, math helping corps and reading corps. Universities would be allowed to raise tuition for resident undergraduate students. They are being asked to plan to cut 13 percent of their total budgets. Community colleges would cut less, 6 percent, “in recognition of their unique mission in job training and skills development essential to the state’s economic recovery,” an Office of Financial Management report stated.At the state schools office in Olympia, spokesman Nathan Olson said school district officials trimmed the fat years ago and may have to cut where it hurts.Olson said no one knows what next fall may look like but said to expect larger classes, changed bus routes and less money for professional development. And school may be trimmed to 1,000 hours, he said. The state mandates 180 days and 1,000 hours, which averages out to about 5.5 hours a day. Clark County districts have longer school days, about six hours. Evergreen Public Schools chief financial officer Mike Merlino used starker terms. “I’ve been doing this for 20 years, and there’s been nothing like this,” Merlino said. “I don’t think people understand how big a number, how widespread — it’s a big number. We’re hopeful there might be something that we’re unaware of.”County power shift
A new board of Clark County commissioners is like a new baby: The first few months matter the most.And with county’s dominant politician, Democrat Betty Sue Morris, in retirement, the balance of power on the three-person board will be up for grabs.On issues like sprawl, business regulation, gambling and taxes, Morris’ successor, Republican Tom Mielke, is clearly to her right. This year, he could vote to:n Reduce minimum lot sizes in rural areas.n Shift the costs of growth regulation from developers to the public.n Kill a deal with the Cowlitz Indian Tribe to share profits from a new casino.n Block a clean-water fee hike.Just as important, watch how Republican Marc Boldt votes. An ideological ally of Mielke who has built a personal friendship with Democrat Steve Stuart, Boldt may discover he is the crucial swing vote and has more power if his votes are unpredictable.Cowlitz casino
Two years ago, The Columbian wrote a front-page Sunday story questioning if 2007 would be the pivotal year when the federal government gives the Cowlitz Indian Tribe a yes-no answer.But no decision came in 2007. Or in 2008, for that matter.Federal officials should finish their work on the casino proposal this year, but it’s not clear if the Obama administration will simply sign off on the project or require a full review of work done by Bush appointees.Phil Harju, the tribe’s vice chairman, said he expects the federal government will approve his tribe’s proposal in 2009, but he’s not sure when.“It depends on how long it takes to approve the secretary of Interior,” he said. “My guess is that all those political appointees will have to be in place.”Obama has nominated U.S. Sen. Ken Salazar, D-Colo., as Interior secretary. News reports indicate the president-elect intends to appoint Wizipan Garriott, a member of the Rosebud Sioux Tribe, to a newly created post of “First Americans Public Liaison.”If the federal government approves the Cowlitz Tribe’s application, it almost certainly will trigger litigation, along with the need for the tribe and its backers to line up financing for a $510 million project to be built in phases.If credit markets remain tight, finding financing might be more difficult than it has been.“There is some financing available out there,” Harju said. “But until we get a record of decision and a point where we can discuss a concrete proposal, it’s difficult to answer that.”Cami Joner, Isolde Raftery and Michael Andersen of The Columbian contributed to this report.

Another Happy Manor Homes Customer

2008-11-08T18:02:00.000-08:00

Date: November 7, 2008
To: Manor Homes Corporate office
Subject: Letter of appreciation

Our Manor home in Rowland Heights is absolutely the best house ever! Everybody who was involved from the beginning has made this experience so very pleasant; we actually feel that we have been your only customer with all of the cooperation and enthusiasm we received from Jamie, Diane, Tim and the many others we didn’t get the chance to meet personally.
Pam from Superfloors was very helpful in giving us great advice while working within our budget and decorating tastes. DeWils was great as well in answering our questions and delivering the appliances in a timely manner. The landscapers did a great job with our front and back yards from the lawns to the trees and shrubs. We like what was done.
What greatly impressed is was that no matter when we went to check on the progress of the house, the construction debris was always minimal and now that the house had been completed, we find it to be in immaculate condition.
Most of all, we want to thank Jamie, Diane, and Tim who kept all lines of communication between us and the various subcontractors open and flowing. They deserve and have our deepest gratitude and most heartfelt thanks.
Thank you for our beautiful home; we know we will have many happy years here.

Sincerely,
Doug Frank
Samantha Crowningshield

Meadow Charm In the News

2008-11-06T14:04:00.000-08:00

On-Site: Meadow Charm
Sunday, October 26, 2008 – The Oregonian
Defying current real estate odds, Clark County residential developer Manor Homes has sold an average of 22 homes a month in 2008, relying on a potent combination of convenient locations, larger-than-average lot sizes, affordable pricing and high-end standard features.
All of these virtues are on display at Meadow Charm, one of 22 currently active Manor Home communities in Southwest Washington. Meadow Charm is located just east of the I-205 freeway, close to Westfield Vancouver mall and the shopping along busy Padden Parkway.
Buyers at Meadow Charm can choose from 11 standard one- and two-level floor plans, ranging in size from a single-level, three-bedroom, two-bath plan with a base price of $240,000 to a two-level, five-bedroom, 2.5-bath plan priced at $300,000. The wide range of available design choices is another Manor Homes strength, according to Michael Shanaberger, Manor’s marketing and sales manager.
“We’re a production builder, but a lot of what we do is custom,” Shanaberger said. “If a buyer sees a design that’s not offered here at one of our other communities, we’ll build it here as long as it will fit on a lot.”
Meadow Charm was the first Manor Home community to be built to Energy Star standards. Buyers touring the 2,948-square-foot model home are greeted by an entryway with leaded-glass and transom windows. Inside, a bright, spacious living room and pillared dining room lead visitors to the great room, with its large open kitchen. Golden-hued slab granite counters, tiled backsplashes, stainless-steel Maytag appliances, an undermount sink and plenty of custom cabinetry invite culinary expression. The kitchen opens to a dining area and spacious family room, warmed by a gas fireplace with stone surround flanked by built-in shelves and cabinetry.
Upstairs, across the hall from an ample bonus/media room, wide double doors lead to a master suite with tiled bath, soaking tub, walk-in closet and dual sinks. The second full bath in the hall is also tiled; the three additional bedrooms clustered around it are sizable and sunny.
“Buyers are very appreciative of the lot sizes here; so many of the lots in Clark County are under 5,000 square feet today,” Shanaberger said. “They like the convenient access to freeways and shopping. And they like the homes themselves. We build an entertainment-oriented Craftsman-style home. And the level of amenities for the price amazes people.” — Jeff Kuechle
Facts: Address: 6301 N.E. 87th Ave., Vancouver. Number of units: 42, 16 sold as of mid-October. Lot sizes: Average 6,500 square feet. Home sizes: 1,567 to 2,948 square feet. Prices: $240,000 to $300,000. Features: New single-level and two-story homes with three to five bedrooms and two to 2.5 baths; Energy Star certification; laminate floors; kitchens with slab granite and tile counters, tile backsplashes, custom alder cabinetry, stainless-steel appliances; master suites with tiled showers; gas fireplaces; white Craftsman-style woodwork; high-efficiency gas furnaces, water heaters; low-E vinyl windows and insulation packages; landscaped front yards with sprinklers. Builder: Manor Homes, www.mymanorhome.com Open: Daily 10 a.m. to 6 p.m. Sales information: Dana Doine, Manor Real Estate, 360-989-0440; danad@mymanorhome.com
Click here to download pdf

Manor Homes Builder Story

2008-11-06T14:03:00.000-08:00

Builders Story

Manor Homes is a family owned local company. Our motto is “be flexible” and as the market has changed, we have continued to demonstrate our flexibility. As our buyers needs change and their families grow larger, we continue to adapt and provide a variety of homes!

Over the last 12 months Manor Homes has risen above the rest to become Clark County’s #1 Home Builder. With on average 5 families moving into a Manor Home Each Week, we strive to exceed our customers’ expectations by continually looking for ways to innovate and improve the quality and comfort of each brand new home!

As a local company, and members of the National Association of Home Builders along with the Clark County Association of Home Builders, we adhere to the highest standards of integrity and commitment to the highest possible quality and commit to provide the best brand new home value to our customers.