New Homes in Loudoun County, Virginia, Buyer REBATE

Hi Lenn, Do you have a shortage of pre-exisiting inventory? The new home home prices look marvelous for any buyer. How do they stack up against existing prices of re-sales?

William.  There is no inventory in this community.  It's all "to be built".  They don't need to spec as long as they are selling and building.  The agent said they were planning a few specs but so far, I haven't seen any.

Hi Lenn These blogs are amazing filled with quality information.  I never thought of using maps and that is exactly

what consumers want.  Its concise and easy to understand. I don't think these prices can be matched anywhere.

These are gorgeous homes at remarkable prices, To top it off you are in one of the most beautiful States in the country.

So good to hear that housing starts are up and new construction is active again. New homes drive so many areas of our economy it has tp be a good sign.

Thanks Judy.  This particular area of Lovettsville, New Town Center, was floundering for the past 4 years with 2 builders who were offering homes at about $200,000 higher than the public will pay.  They pulled out, Ryan came in and bought the lots, put in a price range that would sell and they are doing just that, selling and building. 

Terry.  Right. In many areas of Loudoun County, if the homes are priced right, they will sell.

Lenn,

That map of Lovettsville Town Center is outstanding!  I think I'd favor the interior homesite (1 of 2) that faces west toward the town park, so long as the Retail area behind was designed well and included a Starbucks.  :)

Mike in Tucson

Mike.  I don't know if we'll have a starbucks.  The population of Lovettsville is only about 1260 souls.  The closest Starbucks is in Leesburg.  I wouldn't look for one out here. 

What we are supposed to get is an office designed for a medical practice, commercial space for things like insurance, perhaps a branch of another bank.  All we have now is a BB&T.  Trader Joes was supposed to open here before the real estate crash. 

I suspect that the New Town Center will concentrate on recreational activities for residents.  The plan includes an open air theatre, park areas, walking areas, all just fine with me.  We already have a few very nice restaurants, a dentist, a hair salon, etc. 

Slowly but surely.

Lenn - Those are really wonderful looking homes.  And the prices seem almost shockingly low!  We have a few housing starts here too.  But generally it's because builder incentives are really quite amazing!  Our REOs buyers are having to bid against each other on properties being sold "as is" without  disclosure.  But with builders, homes are in move-in brand spankin' new condition, with a warranty. 

Myrl.  Condition is one of the many things I love about new construction.  As long as the builder is reputable and quality control is strong, new construction goes well. 

However, I am shocked at some of the resale homes we see for sale.  I have come to the conclusion that many home buyers have no sense of pride. 

No matter, they pay for deferred maintenance in low prices.  If they only knew how quickly and for how much more money homes will sell for when in top condition. 

Those are some incredible homes and great prices.  I prefer new, and finally have acknowledged that I am really a new homes buyer!

There you go.  I prefer new too.  I prefer to sell them too.

Lenn,

That's encouraging to hear that the builder in Lovettsville is moving ahead with construction. Some sort of a rebound is obviously in the making.

Esko.  This situation is unique.  There were two builders in this site for the pat 4 years.  They sold a total of 6 lots.  They were seriously overpriced for the market, especially after the jump in gasoline prices.  Lovettsville is fairly far out, an hour from the beltway. 

Those builders pulled out and sold the lots to Ryan Homes which came in with better models for the market and they're selling like hotcakes.