Superior Walls Factory Tour

The Stateson Homes team was recently invited to tour the production facility of our trade partner Superior Walls of Central Virginia, Inc.   Although Superior Walls was established in 1981, Superior Walls of Central Virginia opened their manufacturing facility in 2004 and began producing the insulated, precast concrete walls that we now use at Stateson Homes.  The current 50,000 square foot production facility located in Amelia, VA provides a climate controlled environment in which every wall panel can be individually formed and poured, very helpful as we endure these January days.  Superior Walls is able to control all aspects of their production by having an on-site plant to produce the concrete used in the panels.  We were able to observe the various Quality checks that were implemented at each phase of production.  As we watched this process it became more apparent than ever that this product was truly “Superior”. 

Some of the benefits of Superior Walls that we learned more about during our visit: 

1.       Superior Wall foundations are dry.  They use a special low water/cement ratio concrete that requires no additional damp proofing.

2.       They are warm, with full-length insulation built in to increase energy efficiency.  

3.       Superior Walls high strength 5000+ psi concrete is reinforced with steel rebar and polypropylene fibers for added strength and performance.

4.       The wall panels also feature convenient features like built-in accesses for wiring and stud facings for easy drywall installation with screws.

During our visit, the wall panels for our new model home, the Burwell on lot 12 of Phase 4 in Maple Ridge, were in production.  We were able to see first hand the diligent work and high quality standards that go into every wall panel we receive.  All wall panels are formed horizontally on a large production line where the components are installed, the concrete is poured, the brick impression created, and each panel allowed to dry before being loaded for delivery. It was great to be able to see the production of our panels and one week later, watch as they were set as the foundation of our newest home. 

Superior Walls offers many advantages to us, as a builder and to our customers starting with the R-12 insulation, drywall readiness, and the promptness of installation.   If you get a chance you can visit their website at www.superiorwallsva.com and www.superiorwalls.com to learn more.

Joshua Boothe

Stateson Homes

540.239.8868

Superior walls in production

Josh, George, and the Superior Walls Crew

Housing Affordability Index to Set Annual Record for 2012

Housing Affordability Index to Set Annual Record for 2012

With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of REALTORS®.

NAR’s national Housing Affordability Index stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power; recordkeeping began in 1970.

An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small down payments, the affordability levels are relatively lower.

For all of 2012, NAR projects the housing affordability index to be a record high 194, up from 186 in 2011, which was the previous record. November’s reading was 2.5 index points below October, but up 1.5 index points from a year earlier.

Lawrence Yun, NAR chief economist, said home buyers are able to stay well within their means. “Although 2012 was highest on record, the excessively tight underwriting precluded many would-be homebuyers from locking-in generational low interest rates,” he says. “Rising home prices and a gradual uptrend in mortgage interest rates will offset improvements in family income, but 2013 likely will be the third best on record in terms of household buying power. A window of opportunity remains open for buyers who can qualify for a mortgage.”

NAR projects the housing affordability index to average 160 during 2013, which means on a national basis that a median-income family would have 160 percent of the income needed to purchase a median-priced existing single-family home. Conditions vary widely, with the highest buying power in the Midwest. Even in the West, where the regional index is lower, they typical family is well positioned in most markets.

NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., says the minor erosion in affordability conditions moving forward could be mitigated by bank and regulatory policies. “Clearer rules from the government regarding future lawsuits and buybacks of Fannie and Freddie loans could encourage banks to use their massive cash holdings to originate more loans,” he says.

“A more sensible lending environment that makes it easier for other financially qualified buyers to get a mortgage would allow many more households to enter the market, boosting home sales as much as 10 to 15 percent,” Thomas says.