How a builder contributes to the economy
QBob, I’m a builder on the Cape and enjoy your columns. Any quick stats On “OUR” contribution to the economy?
Local builder
A At one time or the other (before 2006) you’ve undoubtedly read or heard about the “new housing starts” figures. Chances are, unless somehow you’ve associated with the home building industry, you probably gave little or no thought to the economic statistics. You might be surprised to learn, however, that new housing starts have a lot to do with virtually all of us!
According to the National Association of Home Builders, as cited in a Wall Street Journal article, building just 1,000 single family homes contributes IMMENSELY to the local and state economies. Consider some of the contributions:
n 2,448 full time jobs in construction and related industries, e.g., banking, insurance, home furnishings, landscaping, decorating, home appliances, etc.
n $37 million in increased tax revenues in fees across the state, local and federal levels.
n $95.5 million in individual income.
Not included in these calculations, of course, are the tax savings and other benefits that accrue to the 1,000 families that will purchase and will live in these 1,000 new homes.
It’s often been said that housing drives the economy, and judging from these figures , it’s easy to see why we are in the recession and downturn we are now in. We built, built, built, and invested, invested, you get the message – we are OVERBUILT and until we get rid of some of the surplus???
L.B., I hope this opens a few eyes, and we finally starve off the recession/depression!!
QI have several offers (not short sale or foreclosure) on my property. Am I obligated to accept the first offer?
AYou have no obligation to accept the first offer or counter offer just because it was the first one in line.
A broker in this situation has the obligation to the seller to secure the best price and terms for his or her client – the seller. The broker also has the obligation to see that the buyers are treated fairly and to see that each buyer has the opportunity to make the best offer to purchase with the knowledge that there are other offers. Also, the broker must disclose to the seller if other offers are pending. In this buyer’s market, take a careful look at EVERY offer and make that decision. There may not be another offer as good
Have a real estate question? Write, call, fax or e-mail:
Bob Jeffries, Realtor,
Century 21 Birchwood Realty, Inc.
4040 Del Prado Blvd., Cape Coral, FL 33904
239-540-6659 Office
239-542-7760 Fax