This home theater project started off as a room that called for a 75-inch TV, a Sonos amplifier and four in-ceiling speakers. After meeting with the client and builder Jaava Homes, integrator Elite AV asked if it could come up with a concept that would outfit this space with something the family wanted to use on a daily basis, Justin Dohman recalls, and the results proved the inquiry was well worth it. In fact, the end result was so fantastic that the install won a 2020 CE Home of the Year Award for Best Home Theater Under $25K!

Elite AV capitalized on its savviness and creativity to deliver something extra as Dohman refers to this theater build.

On the video side, using a JVC LX-NZB 3,000-lumens projector paired with a Screen Innovations 133-inch Slate screen helped Elite AV overcome the windows in the room while still providing a bright and clear picture for movies and games.

Another hurdle Elite AV handled is that all of the electronics for this home are located inside a central AV rack. This posed a problem as the homeowner had three gaming systems that he wanted to use. Elite AV used an AVPro Edge HDMI switch to toggle between the gaming systems, which reside in custom cabinetry located inside the rack that feeds the Marantz SR6014 AV receiver.

On the audio front, the integrator delivered a Dolby Atmos surround system that sounds absolutely phenomenal, Dohman says, with the Marantz AVR driving seven Origin Acoustics speakers and JL Audio e112 subwoofer.

You couldnt tell this was a project done on a budget. We were given a budget we had to meet to make this a reality as the entire home had to be outfitted, Dohman adds.

Beyond the AV is where Elite AV really added some fun and functionality to the theater. The integrator used Colorbeam color-changing lighting and an epiXsky star ceiling in the theater. The lighting is fully controllable via a Control4 keypad at the room entry, and a Control4 Neeo remote makes commanding the AV simple.

The combination of epiXsky and Colorbeam really sets this room apart, Dohman says. Anyone who has seen it has the same response when they walk in wow!

With four zones of lighting, you can match your teams favorite colors or keep everything a single color, he adds. The epiXsky ceiling is custom made to fit the ceiling coves perfectly, and they also add acoustic treatments making the room sound even better than it already did.

Plus, the combination of hiding speakers behind the screen and creating a movie theater feel when the lights go down keep with the houses modern design and provide a true cinematic flair.

See the rest here:
Lighting, Stars Transform Budget Theater Build into Award-Winning Install - CEPRO - CEPro

Gaithersburg, Maryland-based TWP Enterprises, the largest independent regional building materials company serving Maryland, D.C. and Northern Virginia, will be acquired by Raleigh, North Carolina-based building materials supply company BMC Stock Holdings Inc. for an undisclosed sum.

Gaithersburg, Maryland-based TWP Enterprises, the largest independent regional building materials company serving Maryland, D.C. and Northern Virginia, will be acquired by Raleigh, North Carolina-based building materials supply company BMC Stock Holdings Inc. for an undisclosed sum.

TW Perry, founded in 1911, has six area lumber yards, retail stores, a design studio, a custom millwork operation and a truss manufacturing facility. The company sells lumber, building supplies and materials, doors, windows, hardware and power tools to professional remodelers and custom homebuilders.

The company has $200 million in annual sales.

We are impressed with their pro remodel business, highly diverse customer base and value-added product mix, which is aligned with BMCs core strategy. This addition will expand our portfolio in the growing Northern Virginia, Maryland and D.C. markets, said Dave Flitman, president and CEO of BMC, in a news release.

The acquisition is expected to be completed in December.

Earlier this month, TW Perry announced its acquisition of Hyattsville, Maryland-based building materials supply company Peoples Supply Co. Inc. Peoples Supply was founded in 1932.

BMC Stock Holdings is one of the nations largest building materials supplier, with $3.6 billion in annual sales across 18 states.

Like WTOP on Facebook and follow @WTOP on Twitter to engage in conversation about this article and others.

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2020 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.

Read the original here:
Gaithersburg building supply company TW Perry to be acquired - WTOP

AFTER dominating at the HIA Perth Housing awards last month, Giorgi also outshone the competition at the 2020 HIA Colorbond Steel State Housing Awards, collecting seven gongs.

Their stylish build in City Beach was crowned WA Home of the Year and also won Custom Built Home and Residential Interior Design awards.

In addition, the Osborne Park-based builder received awards for Apartment Complex and Apartment of the Year for a South Perth development and Innovation in Housing and Outdoor Project for a magnificent Caversham residence.

More: The HIA Perth Housing Award winners

HIA WA executive director Cath Hart said Giorgi were well deserving of their achievements.

We saw Giorgi walk away from the Perth Housing Awards with an abundance of accolades and now theyve replicated that success at the WA Awards, which is a huge effort given the competition they were up against which included winners from all over the state, she said.

They have a highly reputable team who have been behind some incredible homes this year, and they now have the honour of being among the contenders at next years Australian Housing Awards which is an outstanding achievement in itself.

Ms Hart also congratulated all the winners and finalists, saying they should be extremely proud of the work they were able to produce in a year that presented many challenges.

Golden Key Award for WA Display Home of the Year was won by Grandwood By Zorzi for a striking home in Dalkeith, while the GreenSmart Sustainable Home was won by McAullay Builders for a clients home in the Mid-West suburb of Waggrakine.

WA home of the year: Giorgi, City Beach

Affordable housing project: Promenade Construction, Nollamara

Apartment complex: Giorgi, South Perth

Apartment of the Year: Giorgi, South Perth

Custom built home: Giorgi, City Beach

Golden Key for WA display home of the year: Grandwood by Zorzi, Dalkeith, Dalkeith

Excellence in service (small builder): joint winners: Character Living and Dorrington Homes

Excellence in service (medium builder): Nulook Homes

Excellence in service (large builder): Blueprint Homes

Excellence in showroom display: Summit Homes Group, Myaree

Framed housing: Arklen, East Fremantle

GreenSmart sustainable home: McAullay Builders, Waggrakine

HIA professional small builder/renovator: Ultimo Constructions

HIA professional major builder: Summit Homes Group

Innovation in housing: Giorgi, Caversham

Liveable home: Weststyle, Swanbourne

Outdoor project: Giorgi, Caversham

Project home: VM Building, North Perth

Renovation/addition project: AMG Home Builders, West Leederville

Residential building designer: Humphrey Homes, Mosman Park

Residential interior design: Giorgi, City Beach

Small commercial project: Assemble Building Co., Cloverdale

Small lot housing: Resonate Homes, Bunbury

Spec home: Averna Homes, Como

Specialised housing: Inspired Homes, Treeby

Townhouse/villa development: Dasco Building Group, Claremont

Townhouse/villa of the year: Perth Renovation Group, Fremantle

Transportable/kit home: Evoke Living Homes, Gillingarra

View original post here:
HIA State Housing Awards: City Beach home named best in the State - PerthNow

Lofty Building Group Urges South Australians to take advantage of the Commonwealth's $25,000 HomeBuilder Grant while they still can

ADELAIDE, Australia-December 4, 2020- (Newswire.com)

Don't miss out on the Australian Government's $25,000 HomeBuilder Grant. The pressure is on to get contracts signed by 31 December 2020, so be quicktime is running out to take advantage of this incredible offer.

With the recently announced extension, contracts signed between 1 January 2021 and 31 March 2021 (inclusive) can still qualify for the Grantbut for the reduced amount of $15,000.

Lofty Building Group will remain open over the Christmas and New Year period to ensure South Australians can take advantage of the current $25k Grant and get a head start on home ownership. That's right, Lofty Building Group is only closed on Christmas Day, to help reach the deadline.

One of South Australia's best custom home builders.

The talented Lofty team are leaders in construction and property development, boasting an enthusiasm and passion for bespoke builds that has seen Lofty recognised as an award-winning builder.

From the initial concept through to giving life to the ultimate vision, Lofty consultants create stunning homes in all shapes and sizeswhether it's realising a unique design from the ground up, developments such as sub-divisions or hammerheads, or the selection of an affordable, customisable house and land package.

No challenge is too great.

Years of experience and extensive, intimate knowledge of building design enable Lofty to hit the ground running so projects can be underway without delay, which is of great importance due to the timelines imposed on HomeBuilder contracts.

It's about building better, smarter and faster.

Lofty FastTrack is a targeted, streamlined and efficient process that enables the group to construct innovative, custom homes faster than evera great benefit when it comes to reaching the construction commencement timeframe of 6 months for the HomeBuilder Grant.

This responsiveness coupled with a flexible approach to custom home design allows Lofty Building Group to adapt to any deadline. The Lofty approach, both on site and off, makes a huge difference when it comes to meeting strict targets.

Take the effort and stress out of building a new home.

The Lofty project management service puts the client first. Lofty is committed to delivering exceptional results, ensuring a smooth build process and mitigating any risk.

Get a jump start on building and home ownership by taking advantage of the $25,000 HomeBuilder Grant, while it is still available. Lofty Building Group are open over the Christmas break to help eligible South Australians meet the deadline and get into a Lofty home sooner.

Contact Lofty Building Group today on (08) 8266 0011 or book a consult online (loftybuildinggroup.com.au) to explore eligibility for the HomeBuilder Grant and to lock in an exciting build project before this rare opportunity passes by.

Press Release ServicebyNewswire.com

Original Source:Lofty Building Group Welcomes the Federal Government's HomeBuilder Grant Extension but Urges Eligible South Australians to Act Quickly to Avoid Missing Out on the $25k

Excerpt from:
Lofty Building Group Welcomes the Federal Government's HomeBuilder Grant Extension but Urges Eligible South Australians to Act Quickly to Avoid...

The luxury new-home market and price point just below $1 million continues to be strong despite the ongoing coronavirus pandemic, and builders say they dont expect it to slow through the end of the year and into 2021.

Las Vegas-based Home Builders Research reported there were 91 closings of new homes of $1 million or more during the third quarter ending in September. That is up from 75 from the same period a year ago.

For the year, there have been 205 new-home closings of $1 million or more through the third quarter, eight more than the first nine months of 2019.

Thats a strong showing despite COVID-19 when many people sheltered in place for a couple of months. That only counts the number of closings, and sales remain strong and will show up when homes are completed.

The market segment that includes $750,000 and above is also strong. There were 202 closings during the third quarter, up from 176 a year ago.

That segment was hit hard at the start of the pandemic but still recorded 490 for the year, one more than the first nine months of 2020.

Home Builders Research President Andrew Smith said luxury buyers arent affected as much by the economy, and the stock market is strong and interest rates are low.

Not only are production builders doing well but there are smaller custom homebuilders that have been building new luxury multimillion home estates and putting them on the market, Smith said.

If you are a wealthy individual who has a mansion in California, you can snatch up the most expensive house in Vegas like its nothing, Smith said.

Heres a look at what some of the builders are seeing:

Blue Heron

I have not experienced a market this strong in my whole career, including the 2005 days when things were at their peak, said Blue Heron CEO and founder Tyler Jones. Its been incredible. Talking with our sales team its (going to be) coming in numbers we havent seen before. Its exciting for Las Vegas.

Jones attributed the surge in luxury sales to lifestyle changes in terms of what people think about homes related to COVID-19. There are also geographic relocations prompted by higher taxes and political issues and unrest in other states, including California.

Everything has changed dramatically since COVID, Jones said. Its an acceleration of whats been going on in recent years. Taxes in California and other states are driving people to places like Nevada and Las Vegas that have a much easier tax climate. Its hard to track how quickly and how much more interest were getting from people in California.

Jones said COVID has prompted people to be more attuned to their home experience because theyve been cooped up and isolated. If people arent satisfied with their home, they are looking to upgrade and make it a nicer experience, he said.

With more people working from home, theyre seeing more home office space and space for homeschooling. They want bigger yards and more square footage, he said.

Jones said hes also heard from buyers worried about civil unrest where they live and want more stability and security.

Las Vegas is viewed as more stable than Portland or Los Angeles, Jones said. Weve had a lot of interest from big places where people dont feel safe.

Jones said all of their communities and custom-home production is doing well. Blue Heron has 39-home tract The Bluffs in Southern Highland with prices $2 million and up; the 34-home Obsidian near MacDonald Highlands in Henderson with prices of $2.5 million and up; Dragon Rock in MacDonald Highlands that started selling in 2020 and sold seven of 40 more lots available with homes starting at $1.5 million; and Equinox, an eight-lot custom-home neighborhood in MacDonald Highlands with homes for $3 million and above. In Lake Las Vegas, it has Vantage with 37 lots with $1.5 million to start. Blue Heron is set to unveil Caliza for sale in Lake Las Vegas starting at $1.6 million. It has 27 lots.

We have several other projects in planning right now, Jones said, citing there will be a need for luxury homes given a lack of supply. I think theres going to be an issue with that in Las Vegas over the next year or two. I believe we are at the beginning of these trends and influx of people that are moving out of these other places.

As the supply dwindles, Jones predicts there will be price appreciation in the luxury segment.

Anybody who owns a home is going to do well over the next couple of years, Jones said.

Toll Brothers

Colleen McCullough, division vice president of sales and customer experience at Toll Brothers, said they were nervous when the pandemic hit in April. The market shifted in May and has continued to go up since then, she said.

The fact that people are working from home and remote working has become more of a norm (has made a difference), McCullough said. They are also releasing themselves from California. With the interest rates at an all-time low, it makes sense for the world to either refinance or move. People have been sitting in their homes and thinking about all of the things they wanted to change about them. It sent them right into the real estate market.

In Tolls luxury segment, McCullough said theyre seeing 75 percent of buyers coming from California. Its Mesa Ridge in Summerlin is the most popular community today with homes in the $1.7 million to $2 million range. It also has Fairway Hills and Mira Villa luxury condos in Summerlin with $2.5 million penthouses. Tolls Regency community in Summerlin has a collection of $750,000 and above homes, McCullough said.

We havent seen any signs its stopping, McCullough said. We see it every single week topping our sales from the previous week. We cant slow down in Mesa. They are projecting the real estate market will continue hot through the holidays. Thats unusual. We typically do our home sales from January to May. This is going to be an unusual but very welcome addition to our winter.

Pardee Homes

Klif Andrews, division president for Pardee, said everything above $750,000 has been a great price range and is selling well in Las Vegas this year. That market has been helped by out-of-state buyers, he said.

Because of taxes and work from home flexibility, that has people thinking about different cities to live in, Andrews said. Right now, 40 percent of our buyers are coming from out of state. Its primarily from California but from everywhere like Illinois and Michigan.

Local buyers are like others in that homes are a bigger priority in their lives because of COVID-19 and lockdowns, Andrews said.

We see it across the board but luxury homes for sure; people are saying Im not traveling that much, I really want to love my home, Andrews said. They want outdoor living and pools. They want to live a little bit of a resort lifestyle at home.

Andrews said supply is limited. They have sold most of their completed homes and having a hard time keeping up building new homes now.

Most of its luxury communities are in Summerlin and Inspirada in Henderson at above $750,000 and Midnight Ridge near Sunridge Heights Parkway in Henderson. Nova Ridge and Sandalwood are the Summerlin communities with prices averaging above $1 million.

Were trying to build faster, Andrews said. Were fortunate to be able to increase prices. I dont see the market slowing down. The supply of California buyers who dont want to pay state income taxes and have the flexibility of not having to work in California any longer, thats a huge market.

Andrews said he sells one home a week at those communities, which is 40 percent above normal. People are also customizing their homes with upgraded finishes.

Richmond American

Luke OLoughlin, vice president and director of sales, said theres been a pent-up demand for luxury, and when inventory is low demand will be high.

The company is closing out its luxury homes, moving through at a quicker pace than expected, he said.

Our sales pace is going to slow a little bit because were closing those things out, OLoughlin said. Every lot is extremely valuable to us right now. Whenever one becomes available, it sells.

OLoughlin said theres not a lot of existing luxury homes for sale, and that drives people to builders.

See more here:
Vegas builders say there is pent-up demand for luxury - Las Vegas Review-Journal

Toronto, Nov. 10, 2020 (GLOBE NEWSWIRE) -- For the first time, OHBA presented our 2020 Awards of Distinction virtually through our online event portal which featured networking opportunities, virtual booths, a play-to-win challenge, prizes and much more! Hosted by comedian and TV personality James Cunningham, OHBA is proud to celebrate Ontarios best of the best when it comes to residential construction, design and marketing. Our virtual event portal will remain live for on-demand viewing of our Awards. You can continue to login to watch the event, participate in our networking rooms, and connect with industry colleagues. For more information please visit http://www.ohbaaod.ca to gain access.

For the fifth time, the Tridel Corporation won the prestigious 2020 Ontario Home Builder of the Year award from the Ontario Home Builders Association (OHBA) in its Awards of Distinction program (AoD). Tridel has an enviable reputation for seeking excellence in all aspects of its organization. That includes innovative designs of a new building concepts, supporting its employees, philanthropic efforts or community initiatives that ensure their neighbourhoods remain a place where people can work, live and play. The Tridel W.I.S.E corporate social responsibility strategies focuses on four pillars: workforce, industry, society, and environment. The Tridel commitment to their customers reflects its Built for Life trademark that embraces condominium living to the fullest, in beautiful, safe, healthy sustaining communities where the genuine care and outstanding experience of their customers is the companys greatest mission.

The 2020 Ontario Renovator of the Year honours went to Amsted Design-Build this is the fourth time company has won the coveted award. At Amsted Design-Build, people are their top priority. Operating in the Ottawa-area for over 30 years, Amsted Design-Build is also a community champion. With a company-wide focus on giving back, Amsted is an active member of the Ottawa community, supporting such worthwhile organizations as the Boys and Girls Club of Ottawa, Hospice Care Ottawa, Wear Red Fridays supporting Canadian troops, and many more. Amsted also shows a commitment to providing sustainable opportunities and take a holistic approach to green design by using sustainable materials throughout their designs. In addition to this, Promus Ottawa, Amsteds sister-company, provides responsible, responsive, and professional disaster restoration services to the Greater Ottawa Area. The teams work together under one roof, sharing staff, resources, and a corporate culture, to take advantage of synergies that exist between the industries

Both Ontario Builder and Renovator of the Year Awards are presented to the companies that demonstrates the highest levels of performance, creativity and ingenuity based on judging criteria in the areas of sales and marketing excellence, floor plan design, community service, support of the industry and its ability to adapt to changing needs.

The 2020 Prestige Award winners also include:

ProjectoftheYearLow-Rise:forUnionVillageforMetropia;MintoCommunitiesMarkham(creditto:Montana Steele Advertising, Nak Design Strategies Inc., RN DesignLtd.)

ProjectoftheYearHighorMid-Rise:NordicCondosforCollecdevToronto(creditto:ADhocStudio,gh3*, Milborne Group, Montana SteeleAdvertising)

The2020OHBAPeoplesChoiceAwardiscomprisedofourfinalistsfromtheProjectoftheYearLowRise,andMid/High Rise. Thefinalistshaveshownexcellenceinoverallarchitecturaldesign,roomdesign,advertisingandon-sitesales.

Peoples Choice Award: Acorn Developments for Lookout on the Knoll - Richmond Hill (credit to: GCB Interior Architecture Inc., Gladstone Media, International Home Marketing Group Realty Inc., VA3 Design)

ThisyearswinnersandfinalistswererecognizedattheAoDRedCarpetEventpresentedbyEnbridge,theAoDvirtualAwards co-presented by Federated Insurance and Rogers Communications Inc., and our event partner was presented by Reliance HomeComfort.Thefulllistofwinnersisavailableatwww.ohba.ca.

About OHBA:As #homebeliever champions, the Ontario Home Builders Association (OHBA) believes in the great Canadian dream of homeownership by supporting more housing choice and supply across Ontario. OHBA is the voice of the residential construction industry in Ontario, representing 4,000 member companies organized into 27 local associations across the province.

ARCHITECTURAL DESIGN

Production Built Home (One storey)

Geranium for Courts of Canterbury "The Cavendish" -Port Perry

(credit to: Builder Insight Group Inc., Colours & Concepts Inc., RN Design Ltd.)

Production Built Home (Two Storeys up to 2500 SF)

Metropia; Minto Communities for Union Village "Aspen Corner - Elevation F" -Markham

(credit to: Montana Steele Advertising, Nak Design Strategies Inc., RN Design Ltd.)

Production Built Home (Two - Three Storeys 2501 SF and over)

Geranium for Allegro "The Forte" -Aurora

(credit to: Builder Insight Group Inc., Hunt Design Associates, The Patton Design Studio)

Attached Multi-Unit Home

Rinaldi Homes (Niagara) Inc. for Unit 1 @ Drapers Creek "Type A" -Welland

Custom Home (Up to 3000 SF)

Kawartha Lakes Construction for View Point - Stoney Lake Island Cottage Build -North Kawartha

Custom Home (3001-5000 SF)

Built By Bespoke Inc. for The Mayfair Maison -Burlington

Mid-Rise Building (4 - 10 Storeys)

Port Dalhousie Harbour Club Ltd. for The Harbour Club -Port Dalhousie

(credit to: Ryan Design International)

High-Rise Building (11+ Storeys)

Minto Communities for 123 Portland -Toronto

(credit to: Blackjet Inc., Nak Design Strategies Inc., Sweeny&Co Architects, U31)

High or Mid-Rise Condo Suite (4+ Storeys up to 800 SF)

Branthaven Homes for Upper West Side Condos -Oakville

High or Mid-Rise Condo Suite (4+ Storeys 801 SF and over)

Port Dalhousie Harbour Club Ltd. for The Harbour Club -Port Dalhousie

(credit to: Ryan Design International)

Lobby Entrance

Branthaven Homes for Upper West Side Condos -Oakville

RENOVATION (HOME OR CONDO)

Home Renovation (Actual Retail Value up to $250,000)

Worton Homes for Clean Slate -Guelph

(credit to: Barber Glass, Ceramic Decor Centre, Core Electric, Patene Building Supplies)

Home Renovation (Actual Retail Value between: $250,001 - $500,000)

Concord Homes for Hilltop Haven -Amherstview

Home Renovation (Actual Retail Value over $500,001)

Windrush Hill Construction for Ridgewood in the Glen -St. Catharines

(credit to: Aristocrat Floors of the World, Cotton Inc., Enns Cabinetry Inc., Regional Doors & Hardware)

Kitchen Renovation

Keystone Ridge Developments Ltd. for Condo in the Sky -Toronto

Bathroom Renovation

Eagleview Construction for The Century Home Perfected -Waterloo

ROOM DESIGN

New Home Kitchen (New Low-Rise Home up to 2500 SF)

Georgian International for Braestone Estates -Oro-Medonte

New Home Kitchen (New Low-Rise Home 2501 SF and over)

Acorn Developments for Limerick Point -Richmond Hill

(credit to: GCB Interior Architecture Inc.)

High or Mid-Rise Condo Suite Kitchen

MOD Developments Inc. for 55C -Toronto

(credit to: Cecconi Simone Inc.)

New Home Bathroom

Acorn Developments for Limerick Point -Richmond Hill

(credit to: GCB Interior Architecture Inc.)

Amenities

The Tricar Group for Azure -London

IMAGE & ADVERTISING

Low Rise Project Video (1-3 Storeys)

Geranium for Allegro -Aurora

(credit to: Builder Insight Group Inc., Hunt Design Associates, Patton Design Studio, Sennova Canada)

High or Mid-Rise Project Video (4+ Storeys)

Tridel for Tridel At The Well "TWO SERIES. THREE CONDOS. INFINITE WAYS TO LIVE." -Toronto

(creditto:TheBrandFactory)

Social MediaCampaign

Minto Communities for Ottawa Brand Campaign -Ottawa

Website

Tribute Communities for Y&S Condominiums -Toronto

(credit to: Guidelines Advertising Inc., Ten Block)

Low Rise Ad Campaign (1-3 Storeys)

Acorn Developments for Lookout on the Knoll -Richmond Hill

(credit to: Gladstone Media)

High or Mid-Rise Ad Campaign (4+ Storeys)

Minto Communities for 123 Portland -Toronto

(credit to: Blackjet Inc.)

Low-Rise Project Logo Branding (1-3 Storeys)

Acorn Developments for Lookout on the Knoll -Richmond Hill

(credit to: Gladstone Media)

High or Mid-Rise Project Logo Branding (4+ Storeys)

Minto Communities for 123 Portland -Toronto

(credit to: Blackjet Inc.)

ON-SITE SALES PRESENTATION

New Home Sales Office (Up to 1500 SF)

Pratt Hansen Group Inc. for Bistro 6 Condominiums -Barrie

New Home Sales Office (1501 SF and over)

Port Dalhousie Harbour Club Ltd. for The Harbour Club -Port Dalhousie

Originally posted here:
OHBA CONGRATULATES 2020 AWARDS OF DISTINCTION WINNERS - GlobeNewswire

According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index, record-low mortgage rates were not enough to offset inventory shortages and rising home prices as housing affordability continued to decline in the third quarter of 2020.

In all, 58.3 percent of new and existing homes sold between the beginning of July and end of September were affordable to families earning an adjusted U.S. median income of $72,900. This is down from the 59.6 percent of homes sold in the second quarter of 2020 that were affordable to median-income earners and the lowest reading since the fourth quarter of 2018.

"Though low mortgage rates and favorable demographics have helped spur demand, a lack of inventory exacerbated by supply chain issues stemming from the COVID-19 pandemic have contributed to rising home prices," said NAHB Chairman Chuck Fowke, a custom home builder from Tampa, Fla. "Surging lumber prices also peaked more than 170 percent above mid-April levels in September, raising building costs. However, lumber prices are now trending lower, which is good news for prospective home buyers."

"A six-month supply of homes is considered a normal supply and demand balance, and this figure has been running below a four-month rate since July, putting upward pressure on home prices," said NAHB Chief Economist Robert Dietz. "As builders look to ramp up production, the work-at-home trend is contributing to a suburban shift, meaning that buyers have additional market power to shop for affordable markets."

The HOI shows that the national median home price jumped to an all-time high of $313,000 in the third quarter, surpassing the previous record-high of $300,000 set in the second quarter. Meanwhile, average mortgage rates fell by 29 basis points in the third quarter to a record-low of 3.05 percent from 3.34 percent in the second quarter.

Lansing-East Lansing, Mich., and Scranton-Wilkes Barre-Hazleton, Pa., were tied as the nation's most affordable major housing market, defined as a metro with a population of at least 500,000. In Lansing-East Lansing, 89.4 percent of all new and existing homes sold in the third quarter were affordable to families earning the area's median income of $75,000. Likewise, 89.4 percent of all new homes sold in Scranton-Wilkes Barre-Hazleton were affordable to families earning the area's median income of $66,600.

Rounding out the top five affordable major housing markets in respective order were Pittsburgh, Pa.; Harrisburg-Carlisle, Pa.; and Albany-Schenectady-Troy, N.Y.

Meanwhile, Cumberland-Md.-W.Va., was rated the nation's most affordable smaller market, with 96.2 percent of homes sold in the third quarter being affordable to families earning the median income of $57,500. Smaller markets joining Cumberland at the top of the list included Wheeling, W.Va.-Ohio; Lima, Ohio; Binghamton, N.Y. and Monroe, Mich.

San Francisco-Redwood City-South San Francisco, Calif., was the nation's least affordable major housing market. There, just 9 percent of the homes sold during the third quarter were affordable to families earning the area's median income of $130,900.

Other major metros at the bottom of the affordability chart were in California. In descending order, they included Los Angeles-Long Beach-Glendale; Anaheim-Santa Ana-Irvine; San Diego-Carlsbad; and San Jose-Sunnyvale-Santa Clara.

All five least affordable small housing markets were also in the Golden State. At the very bottom of the affordability chart was Salinas, where 10.9 percent of all new and existing homes sold in the third quarter were affordable to families earning the area's median income of $75,800.

In descending order, other small markets at the lowest end of the affordability scale included Merced; Santa Cruz-Watsonville; San Rafael; and Napa.

Read more from the original source:
Lack of Inventory, Higher Prices Push Housing Affordability to 2-Year Low - World Property Journal

The 34th annual Parade of Homes begins this weekend, presented by the Wilmington-Cape Fear Home Builders Association (WCFHBA).

The event, postponed from the spring, aims to showcase the craftsmanship, diversity, and quality of the regions premier homes, according to a news release.

Homes are open from noon to 5 p.m. each day and next weekend Nov. 14-15. The self-guided tour is free to the public.

With everyones safety in mind, consumers will notice that this years Parade will have a different look and feel to it from prior years, the release stated. One of the most notable changes involved converting our traditional plan book into a fully immersive digital experience through a new interactive website.

Participants can explore more than 60 different homes, get to know the 32 builders, view home descriptions, view photos and floor plans, take 3D virtual tours and see the latest in construction, designs and furnishings, according to the release.

This years entries include single-family houses, townhouses and custom homes with prices from the $200,000s to the millions, and everything in between, the release stated.

The gated community Whiskey Branch, sponsored by Alpha Mortgage, is the 2020 Community Showcase Partner.

Holding events this year has certainly had its challenges, said Cameron Moore, executive officer of the Wilmington-Cape Fear Home Builders Association. As we prepare to welcome the community, the association and our builders have placed a significant emphasis on safety this year as we have invested heavily in PPE, such as face masks and hand sanitizer for each house. All of our guests can be rest assured that everyones health and safety is our top priority this year.

Moore said local association officials have been encouraged by what theyve heard from other associations that have held similar events.

Their overall traffic seemed to be right on target with what they expected, he said.

Here is the original post:
Parade of Homes, retooled for the times, begins Saturday - Greater Wilmington Business Journal

We take a look at the most stylish sanctums to hit the market across the country.

The master suite includes two offices, three dressing rooms and two bathrooms.

The landmark Carhart Mansion is steeped in 18th century French classicism, designed by architectural master Horace Trumbauer in 1916. The duplex townhouse on tree-lined East 95th Street at Fifth Avenue looks like two side-by-side townhouses, but the mansion benefits from the white-glove service of a luxury building. Enter the 10,350-square-foot home via a private elevator or a sweeping staircase to a grand marble foyer that opens to a reception hall and immaculate salon with 18-foot ceilings. With a master suite that boasts dual offices, master baths and three dressing rooms, this stately residence is for those who truly enjoy a luxurious lifestyle.

The entrance to the circa 1916 landmarked Carhart Mansion

Details: 6 bedrooms, 5 1/2 baths, 10,350 square feet

Price: $28.4 million

Contact: Randall Gianopulos & Stan Ponte, Sothebys International Realty, 3east95.com

The living room overlooks the bay.

The summer kitchen features Miele appliances.

Double-height ceilings flank the living and dining rooms, and a fireplace spans both rooms.

Imagine water views that go for miles. Built by MV Group and situated in Miamis private gated community of Bay Point, the open floor plan of La Casa Palma makes this the home for entertaining. Designed by architect Kobi Karp with interiors by Borges + Associates, the six-bedroom, nine-bath contemporary estate sits on a nearly 30,000-square-foot waterfront lot and features a movie theater, gym, spa, wine cellar, glass elevator, reflection pond and separate guest house with private entry and sunset deck. Overlooking the Miami Beach skyline, the backyard has a lap pool and built-in chefs summer kitchen. The 1,800-square-foot master bedroom is designed like a glass box extending over the bay and you feel like you are floating above the water, says listing agent Chad Carroll with Compass. Its really special."

The bathroom features a free-standing tub.

There are floor to ceiling windows in all rooms.

The backyard includes a 50-foot infinity-edge pool.

Details: 6 bedrooms, 9 baths, 11,485 square feet

Price: $20 million

Contact: Chad Carroll, Compass, compass.com

The homes great room opens to an expansive upper terrace, where homeowners can dine, lounge and soak in the incredible mountain views.

A sprawling infinity-edge pool is the focal point of the breathtaking backyard.

Located in the Upper Canyon of Silverleaf in North Scottsdale on 1.23 acres, this home offers primo desert and mountain views in a contemporary and upscale setting. Designed by Scottsdale-based Ownby Design and Vivax Interiors, the estate wows with globally imported goods, including Molaro doors and windows sourced from Venice. Gaggenau and Wolf appliances, a 196-bottle wine room and a butlers pantry in the upper-level kitchen impress, but its the lower level that drives home the spaces entertainment options. A 2,000-bottle walk-in glass wine room, a 12-seat theater, a half-basketball court and a negative-edge infinity pool ensure residents will have few reasons to leave this one-of-a-kind property.

Fireplaces, lights, shades and more can be controlled from the homes Crestron system.

Details: 5 bedrooms, 5 1/2 baths, 12,132 square feet

Price: $15.6 million

Contact: Siena Dorsey, The Agency Arizona, theagencyre.com

Designed by Olson Kundig, 8899 Beverly houses 40 residences within the towerand eight single-family homes behind itin one of L.A.s most exciting, sought-after neighborhoods.

Surprisingly, one of the most desirable properties in Los Angeles isnt a Bel-Air mansion or a seaside Malibu abode: Its a meticulously appointed penthouse in West Hollywood. Designed by architect Tom Kundig of Seattle-based Olson Kundig and developed by Townscape Partners, the 20,000-square-foot property is a combination of two penthouses that can be sold separately or together. Imbued with an elegant, earthy aesthetic, the unit boasts a private elevator, 360-degree views, multiple master bedrooms, an expansive wraparound terrace and a divine location mere steps from Beverly Hills and West Hollywood hot spots. Th ere has never been and will never be anything like this building in L.A.: the location, the protected views, the ceiling heights, the Swiss glass, the Olson Kundig design, the auto stable, the services, says listing agent Fredrik Eklund. Adds Tyler Siegel of Townscape Partners, Its obvious that this penthouse lives in a completely different stratosphere.

The penthouse boasts stunning 360-degree views of Los Angeles and expansive terraces for seamless indoor-outdoor living.

Details: 8 bedrooms, 11 1/2 baths, 20,000 square feet

Price: $100 million-plus

Contact: Fredrik Eklund at Eklund|Gomes, 8899beverlyblvd.com

The propertys 10 acres in highly sought-after Cape Cod is a half-mile bike ride or stroll to exclusive Nauset Beach.

Situated on 10 acres, this gem features traditional New England architecture with a modern flairmaking it one of the most desirable buys on Cape Cod. Th e property is less than a half-mile from Nauset Beach and 2 miles from town. Th e exterior is a classic beach beauty with a rolling lawn, trails, gardens, a tennis court, an outdoor chefs kitchen, an orchard, a greenhouse, horse stables, and a pool and pool house. Inside, find open spaces that also allow for privacy, such as spalike baths. Other standout moments include a wood-paneled library, bowling alley, theater, game room, gym and sauna.

The heated granite pool is part of abundant outdoor space perfect for hours of family fun.

Details: 8 bedrooms, 9 baths, 12,000 square feet

Price: $18.5 million

Contact: Ricardo Rodriguez, Coldwell Banker Global Luxury, coldwellbankerluxury.com

The well-maintained home offers grandly proportioned rooms and old-world craftsmanship.

The library boasts handsome paneled walls and a grand fireplace and bar.

This sophisticated Tudor mansion offers an abundance of privacy and is set on more than a half-acre estate of lush lawns and gardens just steps from Lake Michigan, notes exclusive Compass listing broker Julie Latsko, adding: It has grandly proportioned rooms and old-world craftsmanship that cant be replicated. With five bedrooms, six baths and over 6,100 square feet, there is plenty of room to work and play. And with easy access to downtown Evanston, restaurants, shops and transit, its a sanctuary in the heart of it all."

The stately Tudor mansion exudes timeless elegance.

Details: 5 bedrooms, 6 baths, 6,172 square feet

Price: $3.5 million

Contact: Julie Latsko, Compass, compass.com

A cappuccino stone-topped dining table and chandeliers by Henge set the tone in the dining room.

The Rossana custom kitchen boasts Emperador marble counters.

Floating nearly 700 feet above the ground, 181 Fremonts Grand Penthouse occupies the entire top floor of San Franciscos tallest residential towerthis penthouse is actually the tallest residence west of Chicago and the most expensive one in the areaand counts stunning floor- to-ceiling panoramic views of the Pacific, Golden Gate Bridge and more among its features. Near luxury shops, Michelin-starred restaurants and the Ferry Building, the stellar location is rivaled only by the Grand Penthouses custom design by L.A.-based MASS Beverly. Elegant pieces by Bottega Veneta, Henge, Minotti and moreall included in the asking priceadorn the interiors, which have a refi ned and tailored European aesthetic that plays off the muted colors of the city. Also of note are the buildings amenities, including a piano lounge, a full catering kitchen and dining room, and a concierge, to name a few.

An Antonio Lupi Cristalplant tub in the primary bedrooms south bathroom.

Details: 4 bedrooms, 6 1/2 baths, 6,941 square feet

Price: $46 million

Contact: Leo Mederios, 181fremont.com

This modern English country manor has everything you could possibly want, including a manicured outdoor space.

Designed by Historical Concepts and built by James Cotton of Builders II Inc. with interiors by Barbara Westbrook of Westbrook Interiors, this elegant abode in the heart of tony Buckhead is perfectly appointed for a family looking for modern conveniences in a home inspired by an English country manor. Amenities include a covered patio with fireplace; large wine cellar; game area; movie theater; gym, play space or home office above a three-car garage; and, of course, a manicured lawn and poolideal for taking advantage of Atlantas temperate weather.

The interiors are by Barbara Westbrook of Westbrook Interiors.

Details: 6 bedrooms, 6 full, 3 half baths, 13,055 square feet

Price: $7.99 million

Contact: Sam Bayne, Atlanta Fine Homes Sothebys International Realty, sambayne.com; atlantafinehomes.com

Exterior features include handmade terra cotta clay tile from Ludowici Roof Tile. Slate Co. main house tile was salvaged from an estate in Nichols Hills, Okla., and is approximately 90 to 100 years old.

Uniquely situated along Turtle Creek with picturesque park views, this exquisite Mediterranean villa presents an exceptional opportunity for the most discerning buyer seeking move-in ready luxury in University Parks Volk Estates, shares Compass listing broker Gretchen Brasch. Originally constructed in 2005, this Paul Turney-designed treasure has been freshly restored by Underwood Custom Homes with a striking color palette and tasteful decorative accents by Cynthia Collins Interiors. The handsome stucco exterior with imported European steel doors, she continues, is topped with handmade Ludowici terra cotta layered roofing. Welcoming Lueders limestone porches inlaid with Pennsylvania bluestone banding show just the beginning of the intricate detail found throughout."

Details: 5 bedrooms, 5 1/2 baths, 2-bedroom guesthouse, 8,535 square feet

Price: available on request

Contact: Gretchen Brasch and Elly Holder, Compass, compass.com

Photography by: 3 E. 95th St. photos by Travis Mark, courtesy of Sothebys International Realty; 580 Sabal Palm Road photos courtesy of The Carroll Group; 20724 N. 112th St. photos by Craig Root; 8899 Beverly Blvd. photos courtesy of 8899 Beverly/Eklund | Gomes; 87 Beach Road photos courtesy of Coldwell Banker; 147 Dempster St. photos by DroneHub Media; 181 Fremont St. photos by Matthew Millman; 391 Argonne Drive photos by VSI group; 6810 Turtle Creek Blvd. photos by Stephen Reed

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9 Most Incredible Homes of 2020 - Gotham Magazine

HGTV fans take note: It's the time of the year when builders, architects, and interior designers attempt to predict next year's home trends.

Which means if you're looking to buy a home at Trinity Falls, the new master-planned community just northwest of McKinney, you'll see numerous options for your new kitchen when you browse the builders' design centers.

What's in and what's out for 2021? Here's a brief overview:

Smart kitchensHome automation packages typically include smart door locks and garage door openers, but buyers are embracing smart kitchens as well. Look for refrigerators that tell you when you are out of something, Amazon Show personal assistants, touch-less faucets, smart lights, smart outlets, and more.

Backsplashes and countertopsBacksplashes have come a long way since the omnipresence of subway tiles. One-piece backsplashes are now taking over. Not only are they easier to clean, they add a seamless, stylish look. Marble countertops are still popular, but quartz countertops are the wave of the future since they are durable and easy to care for. They also come in a variety of colors, which is good because dark islands contrasting with lighter cabinets is also a hot new look.

What's with cabinets?Cabinets change every year. Next year's style embraces warm woods, minimal hardware, and extra storage space. Painted cabinets will no longer be white, as buyers are showing a preference for soothing green and tranquil blue.

Kitchen island trendsKitchen islands are now standard in most home designs, since people love the ability to sit at the island and talk to the chef. Look for multi-tiered islands for a multi-functional option that offers more preparation space and plenty of room for counter seating.

Organization reignsOrganized kitchens make for happy homeowners no one wants to spend 20 minutes looking for a spatula! Expect to see organization systems built into walk-in pantries, cabinets specifically for small appliances, drawer dividers for cutlery, built-in spice racks, deep drawers, and even wastebasket cabinets.

Less open-concept, more room segregationOpen floorplans create a feeling of spaciousness ... but dirty dishes in the sink and clutter covering the counters isn't a fun way to greet the morning. Kitchens are trending toward high wrap-around breakfast bars or archways that separate them from living areas.

Trinity Falls offers more than 100 floorplans from some of the area's top builders, includingHighland Homes, Perry Homes, Del Webb, Coventry Homes, Chesmar Homes, and Drees Custom Homes.

If you'd like to check out Trinity Falls, a Johnson Development community, for yourself,visit the websiteorcontact one of the buildersto set up a tour.

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Experts lay out the hot 2021 kitchen trends to be found at new Dallas community - CultureMap Dallas