This is interesting……The average sq. footage in new single family homes have gotten bigger and bigger over the years, until recently. In 2007 the average home was 2521 sq. ft but in 2009 it was 2438 and still shrinking! Also, there was a time when a majority of new homebuyers wanted 2 story homes. The whole grand entrance down the stairwell thing, kids running up and down (how Norman Rockwell), and the exercise! In 2006 57% of the homes were 2 story and now (2009) they only represent 53%. People are now looking at one story homes as more practical and less exhausting. Who needs a gym membership when you have a 2 story home!
FYI….they have extended the tax credit for first time home buyers. If you were under contract by April 30, you had to close by June 30 in order to receive the $8,000 credit. As of Wednesday, June 16, they have extended that deadline until September 30 (my birthday) to close! The banks are backed up and there’s this nonsense with the federal flood insurance program. Its always something!