08.12.2016 | GREENVILLE JOURNAL | 31
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Virani Custom Homes
Community Info The Courtyards on West Georgia Road Address: 350 Laguna Lane, Simpsonville Price: $357,000 - $398,500 Sq. Ft: 2300-3200
OPEN TUESDAY-SATURDAY 11:00-5:30; SUNDAY 1:00-5:30
Virtual tours online at viranicustom.com Virani Homes 864.634.5203 viranicustom.com
TAKE A VIRTUAL TOUR FROM THE COMFORT OF YOUR HOME. Watch “350 Laguna Lane Simpsonville SC” on Vimeo: https://vimeo.com/160450898 Are you considering building a custom dream home in Greenville, South Carolina? At Virani Custom Homes we bring those dreams to a reality. We specialize in quality, custom design homes. We are your one-stop destination for quality, creativity and value. Our homes are designed with comfort, livability and style. Why buy from a National Builder that you will never meet when you can purchase your new Custom Home from local Greenville Builders John & Annell Bailey and receive personalized attention. Each and every home is unique - no cookie homes from this Builder. Annell personally helps client’s select distinctive fixtures, tiles and
amazing color palettes that reflect the client’s true personality. John ensures that the materials and what is inside the walls is not only state of the art but is also energy efficient. Many of our standard materials are considered upgrades by other builders. The selection of your builder is a very important decision and should not be done hastily. Make sure you do you homework and compare the beautiful homes created by John & Annell Bailey to other Builders in the area. We think you will agree there is no comparison. Take a virtual tour from the comfort of your home at https://vimeo.com/160450898
Real Estate News
Could millennial homeownership be on the rise? The news has been all gloom and doom when it comes to millennials’ low rate of homeownership. Maybe the fear of commitment of buying a home with a partner could be one of the reasons many younger folks don’t own the roof over their heads— along with rising prices, high student debt, and hard-to-get credit.
But that tide might be starting to turn. A recent Fannie Mae report analyzed U.S. Census data of 20- to 33-year-olds from 2006 to 2014. Of the older millennials, ages 30 to 33, more have become homeowners than were before the housing bust. Those ages 28 and 29 are almost back to the same level of homeownership that they had in 2006. Let’s be clear: The report looked at cohorts, which are the same groups of individuals over time. When looking at general homeownership rates, instead of the same group of buyers over time, fewer younger folks owned homes in 2014 than they did eight years earlier.
As individuals get older, they’re getting married and having children, which often leads to the longing for a place to call one’s own—maybe with a backyard! And the economy is faring better than it did during the crisis, he says, so many of these buyers are making more money and have more stable employment than they did in the dark days of the financial crisis. Fewer young people overall, only 36.9% of those ages 25 to 34 heading up their households, were homeowners in 2014—nearly 10 percentage points lower than in 2006, according to the Fannie Mae report. In addition, there are fewer lower-priced,
starter homes on the market for first-time buyers, he says. That’s because many were bought up during the height of the foreclosure crisis by investors and then rented out. Builders are also erecting fewer of them as construction costs have risen over the past few years. Millennials are still going to buy homes, says Jason Dorsey, co-founder of the Center for Generational Kinetics, an Austin, TX–based millennial and Generation X research firm. “They’re just going to do it at a later age,” he says, adding that it’s often when they get married and have two incomes to put toward a down payment and monthly mortgage bills.