Thursday, February 11, 2010

The Average Size of Homes are Declining

According to the U.S. Census Bureau... the average square footage of a new house has decreased slightly to 2215 square feet from it's high of 2277 sq. ft. in 2008. This is the first drop since the recession of the early 1980's. Americans are starting to embrace the idea that less is more when it comes to living space... perhaps due to the 2007 economic down cline again.

What is interesting is current housing standards are double the average home of the 1960's.

Monday, February 8, 2010

Land for Sale in Central McClain County just South of Norman, Oklahoma

Are you needing land to build your new home... or set up a mobile home? I have several tracts available with or without building and livestock restrictions. If you have questions on what kind of down payment needed for a land purchase, call me.

Land is not a 30 year mortgage but a bank loan is needed... you may be best qualified to apply for a construction loan to obtain your land/home purchase. I have the answers to your questions!

Thursday, February 4, 2010

Can I Afford a Home?

A computer program called Desktop Underwriting states that a consumer should expect 28% of gross income spent on housing expense and could not exceed 36%.

Other than government lending programs, (and rules change all the time), the borrower also needs equity in the form of a downpayment.... not to mention being credit worthy.