Why Buy New Homes in Communities like Eagle Landing or Oakleaf Plantation?
Why wouldn’t you shop for a new home while looking to make a move?
You don’t think they are affordable? Well that isn’t the case anymore. The average price of a new home can be anywhere from $190,000 - $215,000 depending on the location and mortgage rates are as low as they’ve ever been in 2011 says Big Builder online.
Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.63 percent from 4.71. The average rate on the 15-year fixed mortgage slipped to 3.82 percent from 3.89 percent. Both are at their lowest points since December.
At $190,000 and 4.63% you are looking at a principal and interest payment of only $953 a month for a 3.5% Down payment FHA Mortgage. That is less than most people pay in rent for an apartment these days.
Will I only get a great deal if I find a short sale or foreclosure?
There are amazing deals to be found with a new home too! Builders of New Construction homes are more aggressive than ever in an economic time where they are in direct competition with re-sales and foreclosures. New Home Builders have the ability to help you where you need it the most; they have the cash and the move-in ready homes. Move-in ready meaning complete, no back and forth with a bank, no taking multiple offers on the same property, no waiting for months and months to move in, and no repair work. Many builder inventory homes can be moved into in just about a month. These homes have what most buyers are looking for; energy efficiency for lower monthly utility bills, modern layouts, extensive home warranties, finishes like tile floors, nice cabinetry, solid surface counter tops, irrigation systems and most importantly, an affordable price.
What about a loan on a new home?
Many, if not most, new home builders often offer some type of special financing, where they will pay points to buy down the interest rate, help you break your lease if you are renting, or pitch in to cover a good majority of the closing costs associated with buying a new home. In most cases the builders incent the buyers to use their in-house or preferred lender, and this allows for a smooth transaction and the home buyer to put their savings toward the down payment of their home saving on some of the traditional expenses closing costs normally run. Builders need to move their inventory and can be flexible with a buyers needs: by having a savvy realtor at your side to ask the right questions and negotiate the right deal for your situation you may very well get your dream home at a dreamy price with mortgage terms that are too good to wait any longer.
There are many new communities in the Jacksonville, Orange Park, St. Johns County, Amelia Island, and the Ponte Vedra areas that have top of the line amenities and family friendly lifestyles in communities like: Durbin Crossing, Fleming Island, Amelia Concourse, Eagle Landing, Oakleaf Plantation, Eagle Harbor, and World Golf Village or Nocatee to name a few. You will find more than one New Construction Home Builder Model Home just around the corner. Next month is the end of the second quarter for your local New Home Builder… call your Round Table Realtor (904)469-SOLD and schedule an appointment today to see what special deals are out there!