The Right Time to Build a Log Home

With the U.S. real estate market and banking industry in its present state of flux, many are wondering if this is the right time to build your log home. There are concerns about:

• Global credit crunch
• If money is still available
• Will I be able to secure a loan
• Personal losses in the stock/financial markets
• Security in the workplace

Many articles have been published over past months in various national home publications; all provided excellent reasons why right now will for many be the best opportunity to put their plans into action. The following is a summary that applies to all construction whilst at the same time identifying the specialty requirements of the log home niche:

• If a custom log home is your requirement remember that they are a specialized niche and are not always subject to the volatility of other housing markets.
• Securing a mortgage or construction loan for a log home has always been a niche within the lending world. In the main due to finding appropriate comps (comparable home values). Nothing has changed from that perspective.
• The effect of the current situation varies widely by locale, and your area may not be affected in the same way as big cities with big developers who are selling large tracts of suburban homes.
• Most log home owners are in it for the long haul, as a log home is their dream home. Long-term real estate investments have performed extremely well in any period since the last great Depression.
• Large portfolio banks, usually the best sources for construction loans for custom homes, are weathering the credit crisis well, and they are ready for business.
• Interest rates are perhaps as low as one will ever see with the Federal Reserve adjusting rates as it tries to keep the economy moving.
• For consumers in the market for raw land great deals are to be had dependent on your area one can easily save 10-25% off the asking price and you may well be able to get more acreage for your money than previously thought.
• The slowdown in construction means that labor and materials are more readily available and typically savings can be made as a result.

For the consumer who has the financial wherewithal (in particular those already owning land), the timing does not really get any better than this. Staying focused on your eventual goal and doing your research will help you move forward. Be wary of dramatic media stories and concentrate on what you know is the right investment for you.

http://www.cnwloghomes.com/

Dealership Opportunities. If you dream about living in a log home and want to start a home-based business, consider becoming a dealer for CNW Log Homes of America Inc.