The Comito Column ~ Custom Building Exposed

The husband and wife team of Claude & Debbie Comito of Comito Building and Design are feeling good about the custom home building market in 2012. With recent home sales and building permits trending upwards, land costs at relatively low levels, now is the time to take advantage of the opportunity to build a new home.

Comito Building and Design has been designing and building high quality custom homes in the Pikes Peak Region for over 29 years, they have a proven reputation for excellence and an unmatched level of customer service. They utilize a unique design-build approach that takes on the process of building a home as a team, with an architect, a builder and a homeowner.  “When we take this approach, we hit our goal almost all the time of getting people what they want for what they want to spend” Claude Comito says.

Incredible Land Buys. The process starts with finding the right home site, and right now there are incredible land opportunities. Comito Building and Design is a great resource when it comes to locating a building site for your new home. They are experts in evaluating building sites and the advantages or constraints that each may present.  They currently have a handful of lots that are incredible buys in the District 12 area.

Once the home site has been selected the team works with you to design a home that fits the site, your needs and your budget. Construction costs are down 15%-20% and the team at Comito Building and Design doesn’t see that lasting much longer, again making this an ideal time to start the building process. Comito Building and Design is able to build homes from $650,000; with land prices where they are, clients are able to get Comito’s top-notch quality and thoughtful design for under $800,000.

Remodel. If you are looking to stay put and update or re-invent your current home, Comito Building and Design is available to remodel as well. “We feel we offer the best value of anyone doing what we do, because you know you are getting top quality and service at very competitive prices” Comito says.

If you are interested in obtaining additional information on the custom home building process or any of our Colorado Springs luxury home sites call us at 719.219.5421 or visit us online at Comito Building and Design.

As our national economy finally starts to pick up steam we have to ask the questions: Will 2012 truly mark the beginning of a real estate recovery? Will values start to turn upward? Will people have the confidence to buy or build homes this year?

I believe the answers are YES, YES, YES!

In fact the recent sales & permit data already support this. I certainly don’t think that the market will increase dramatically in the short term. Over the long term, however, events are coming together that will restore faith in the housing market. To be sure, there is still much pain to be felt; and few expect values and activity to rival the mid 2000’s anytime soon; but that’s probably a good thing.

Having lived and worked through (and survived!) three previous housing recessions, I can predict some things for certain:

1. The recovery will be tepid in many areas and robust in others (location, location, location)
2. Our “buyer’s market” will shift to a more “neutral market” in most places. Highly desirable areas will shift to a “seller’s market”
3. What is presently perceived as an overabundance of inventory will someday soon become a scarcity. Especially in new well priced homes, and quality building lots.
4. Prices of materials, labor and mortgages will go up as demand increases.
5. Present “below market” opportunities will vanish-QUICKLY.

If you’re still sitting on the fence and wondering if it truly is a good time and opportunity to buy or build- don’t delay- You might miss it!

Check out the latest article in Builder Magazine: 2012 Growth Looks Good

If you are interested in obtaining additional information on the custom home building process or any of our Colorado Springs luxury home sites call us at 719.219.5421 or visit us online atComito Building and Design.

-Claude Comito

As a homebuilder, I hear this question ALL THE TIME! “Is anyone really building in the current economic climate?”

 

My response, “Only the smartest ones.”

 

Are you kicking yourself for not buying stock or mutual funds in March of 2009 (the lowest point for stock indexes in the past 5 years)?

 

The same relative buying opportunity to purchase or build a new home at incredible value holds true today. Even new construction, which rarely experiences significant price drops, is a relative bargain. We’ve seen overall cost decreases of 15%-20% recently.

 

In a recent post by Financial analyst Dr. Steve Sjuggerud, True Wealth, Sjuggerud says “Right now, is the best time in history to buy a house in America.”  While many of us in the industry have been touting this for months, Sjuggerud uses century old financial facts - cold, hard facts to back up his claim.

 

Fact #1 MORTGAGE RATES ARE AT THEIR LOWEST LEVELS IN AMERICAN HISTORY: Investors only see a couple decades of mortgage rates on a chart but Sjuggerud accessed Global Financial Data databases that track real estate data going back centuries.  The charts show mortgage rates since 1900 and as you can see, today’s rates are lower than they were in 1900!

Fact # 2 HOMES ARE MORE AFFORDABLE THAN EVER: Based on a 40-year history of the Housing Affordability Index, Sjuggerud points out that houses are more affordable than they have ever been. Affordability takes into account:  home prices, personal income, and mortgage rates.  Sjuggerud explains this simply, “What people think about when they buy a house isn’t the price of the house …It’s the payment.  People think, “Can I afford this mortgage payment on my monthly income?”

 

As I said, home prices have dropped significantly – in some markets prices have fallen by one-third. And mortgage rates are at record lows. But, incomes (nationwide) haven’t fallen … which makes homes more affordable than ever. 

 

 

Additionally, land prices, which again rarely decrease, are phenomenal bargains. Steals in some instances such as distressed or bank owned properties. With this combination, along with some intestinal fortitude about the future, you can get in or upgrade into a new custom home in Colorado Springs with the latest technology and energy efficiency available today.

 

At Comito Building and Design, we believe RIGHT NOW, is the time to take advantage of an incredible opportunity to build the Colorado Springs Custom Home of your dreams.  But, industry experts say this opportunity won’t last long!  As we come out of this economic downturn construction crews are slim and building supply inventory is modest. Any uptick in demand will put pressure on prices - fast!

 

At Comito Building and Design we believe a great home at a fair price and a wonderful experience should be the desired outcome of your custom home building process. As a third generation Colorado Springs Custom Home Builder, Comito Building and Design has been designing and crafting award winning Colorado Springs custom homes since 1983.  Our luxury homes in Colorado Springs are synonymous with extraordinary design, quality, and innovation.  Our team creates homes that are a solid investment for our families who live in them and a testimony to our creativity and craftsmanship. We hope you will consider us as your resource to help you make your Dream home a reality.

 

If you are interested in obtaining additional information on the custom home building process or any of our Colorado Springs luxury home sites call us at 719.219.5421 or visit us online at Comito Building and Design.

 

So, you’ve worked your entire life, have lived in many homes, and now you’re ready to build “your home” – the home of your dreams – the one that perfectly suits your lifestyle.  You’ve saved, you’ve talked to your friends and family, you’ve listened to the media, and you know that rates aren’t going to get any better. But, you still have one nagging questions – How?  How do we start the process of building our own custom home?

The answer is CONGRATULATIONS and IT’S SIMPLE! You are now ready to experience a process many can only dream about.

First, think global. What area? Where do you really want to live? Do you already own your home site or do you need assistance in selecting the ideal neighborhood and the perfect home site for your new custom home? What price range are you comfortable with? (Are the two compatible and realistic?) Remember, everything starts with the home site.

It’s important to make sure that your chosen home site will accommodate your dream home and your budget. Typically the home site should be no more than 20%-25% of the overall budget. Of course, there are exceptions.

Get professional advice (a “builder’s eye”) before you start the purchase of your homesite. An honest, professional builder can guide you through the questions related to topography, utilities, construction costs, and any site challenges that may have to be overcome.

Next comes the really fun part – the design of your new Colorado Springs luxury home! But, that’s another topic for another week….

If you are interested in obtaining additional information on the custom home building process, consider Comito Building and Design.  A third generation Colorado Springs Custom Home Builder, Comito Building and Design has been designing and crafting award winning Colorado Springs custom homes since 1983.  Our luxury homes in Colorado Springs are synonymous with extraordinary design, quality, and innovation. 

For additional information on the building process, contact Comito Building and Design at 719.219.5421 or at http://comitobuildinganddesign.com/contact.

The question I am most frequently asked these days is: How is the high end custom home building market ? The answer: Getting better -much better!

We are busy. Many people understand that current conditions (buyer's market, great deals, low interest rates) offer the best opportunity to buy or build a high-end home in many many years.

Our clients are choosing to build new because they realize that building costs may never be as low as they are now. We are able to build the same high quality homes today for 20-25% less than several years ago. Some lot prices have dropped as well, making building even more attractive.

Many people want new and the benefits that come with a new home; Spray foam insulation (something that was not available even a few years ago) is revolutionizing the energy performance of our new homes. Quality windows, low maintenance exteriors and the latest high efficiency heating and cooling systems are just some of the benefits our homeowners are realizing.

Call or contact us to find out more about the tremendous opportunities out there. I don't know how long conditions will remain this favorable but I know from experience that once things start heating up prices can change rapidly.

~Claude Comito