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You might be hearing news of rising mortgage rates as we move into the New Year. If you’re looking to purchase a new home in 2017, this recent CNN report from Kathryn Vasel explains why a change in rates shouldn’t cause homebuyers to panic.
“I don’t think anyone welcomes higher interest rates, but it should not be a considerable deterrent to someone who really wants to buy a home,” said Keith Gumbinger, vice president of HSH.com.
Rates under 5% have been the norm for a decade. “We still have quite a ways to go for rates to be even close to average,” noted Len Kiefer, deputy chief economist for Freddie Mac.
In 1996, the average rate was 5.67%, and in 1990 it was 10.13%.
Rising home prices, fueled by strong demand and tight inventory, have pinched buyers in recent years. Lower interest rates helped temper that rise, but as they move higher, borrowing becomes more costly and can reduce a buyer’s budget.
“If rates remain at this level, some marginal buyers could be pushed out of the marketplace,” said Gumbinger. “There could be less demand for properties on the margin, but I don’t think there will be a huge change.”
Kiefer said he expects home prices to continue to rise in 2017 year, but at a slower pace than we saw this year. “The supply is pretty low compared to demand and that will keep pressure on prices and rents.”
The rate increases could be felt more by house hunters in the country’s more expensive markets, like San Francisco and Manhattan.
“Affordability is already difficult in some markets,” said Erin Lantz, vice president of mortgages for Zillow. “Rates can have more of an impact in those areas, but for most of the country, it’s still very affordable, by historical standards”
Read the full article: Why rising mortgage rates are no reason to panic
Reno, Nev. – December 2016 – Discover a great way to live at Lennar’s Wintercreek community inside the Somersett masterplan. With a handful of new homes for sale, interested buyers are encouraged to contact Lennar today to view fantastic floorplans and this community’s great amenities, firsthand.
“Somersett is a unique community that has enough amenities to keep every member of the family active,” said Dustin Barker, Division President for Lennar Reno. “We offer some of our most popular floorplans in this community and even have some quick move-in homes available. What a perfect way to start off the new year — in a new Lennar home!”
The award-winning Somersett masterplan offers its residents plenty of ways to stay busy. The Club, Somersett’s community center, is a 24,000-square foot, $9 million-dollar facility that is the heart of community’s resident amenity program. The Club includes a media room for watching games or movies, an aerobics studio, cardio-weights studio, a multipurpose sport court room with three basketball hoops, arts and craft studio, kid’s corner, teen club, massage room, locker rooms and more.
The Club serves residents as well as Somersett Country Club members, many of whom are avid golfers and enjoy Somersett’s Canyon Nine par-3 golf course. Residents also gain access to two swimming pools — a junior Olympic three-lane pool and another pool that features a 98-foot waterslide and poolside cabanas, two spas, an outdoor fire pit and over 27 miles of paved and natural hiking and biking trails.
Lennar currently offers a handful of quick move-in homes for sale at Wintercreek at Somersett. Homes range in size between approximately 2,616 to 3,055 square feet of living space, three to four bedrooms and single and two-story designs.
Thanks to Lennar’s Everything’s Included® program, these homes come filled with many upscale amenities such as granite kitchen countertops, stainless steel appliances, programmable thermostats, tankless water heaters and more — all at no extra cost. Many of these features help each home to be energy-efficient, contributing to lower utility costs each month than you’d find in a resale home.
To learn more about the homes at Wintercreek at Somersett, visit us online at www.lennar.com/reno.
With hundreds of communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has grown to become one of the nation’s leading and most respected homebuilders. Lennar has a longstanding history of building homes of enduring quality in only the most well planned and desirable locations throughout the country.
Henderson, Nev. – December 2016 – Over the weekend, Lennar celebrated a successful grand opening for Rose Ridge, which offers three stunning collections of new homes in three distinct neighborhoods. Interested buyers are encouraged to tour Rose Ridge this week, as Lennar is still offering their pre-grand opening prices until Friday, December 23. Homeshoppers have 11 distinct floorplans to choose from the Dahlia, Lavender and Magnolia series.
“We were so thrilled to see so many people come out for the grand opening,” said Ashley Max, Marketing Manager for Lennar Las Vegas. “This community offers an ideal lifestyle for families, with great amenities and a prime location near great schools and shopping centers within walking distance.”
The Dahlia Series features three distinct floorplans for buyers to choose from. Priced from the upper $200,000s, these homes range in size between 1,699 to 2,203 square feet of living space and feature up to three bedrooms and three bathrooms. All two-story plans, homebuyers will have the Daffodil, Sunflower and Daisy plans to choose from in this neighborhood at Rose Ridge.
The Clover plan from the Lavender Series.
The Lavender Series offers four unique floorplans for homeshoppers. These four plans range in size approximately from 2,061 to 3,128 square feet of living space with up to four bedrooms and three-and-a-half bathrooms. Homes are priced from the upper $300,000s and offer the Violet, Tulip, Iris and Clover floorplans in both single and two-story designs.
Rose Ridge’s third collection and neighborhood, the Magnolia Series, also features four distinctive floorplans. The Azalea, Orchid, Lily and Peony plans are all two story homes that provide between approximately 2,283 to 2,845 square feet of living space with up to four bedrooms and five bathrooms. These homes are priced starting from the mid $300,000s. Select plans in the Magnolia Series offer downstairs and dual master suites.
Rose Ridge residents will enjoy great community amenities that include a park, pool, playground, barbecue areas and a private outdoor pavilion. Homes will also be set near parks, shopping centers, restaurants and other recreational opportunities.
Every home at Rose Ridge is part of Lennar’s Everything’s Included program which puts a high level of upscale features into all their new homes as standard, meaning at no additional cost to the buyer! Thanks to Lennar’s national purchasing power, Lennar homeowners enjoy stylish features from well-known and respected brands, such as GE® appliances, home automation from Nexia Home Intelligence, granite kitchen countertops and so much more.
For more information on this community, to view floorplans or to set up your appointment to see it first hand, visit http://www.lennar.com/new-homes/nevada/las-vegas/henderson/rose-ridge or call 800-509-9720. Interested buyers are encouraged to act quickly as pre-model pricing only lasts through this week. Located at 983 Sycamore Falls St. in Henderson, the Welcome Home Center is now open.
With hundreds of communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has grown to become one of the nation’s leading and most respected homebuilders and proudly remains steadfast in their commitment toward quality, value and integrity. Lennar has a longstanding history of building exceptional homes in only the most well planned and desirable locations throughout the country.
Parker, Colo. – December 2016 – A recent article by WalletHub ranked the best small cities in America based on variety of factors like housing costs, crime rates, home ownership rates, restaurants or coffee shops per capita, income growth, education levels and more. Parker, Colorado, a place where Lennar is now selling two new home communities, made the list coming in the 99 percentile of 1,268 cities nationwide.
“We were thrilled to see Parker made this list, but we were not surprised,” said Carrie Castilian, Marketing Manager for Lennar Colorado. “We know Parker is a fantastic place to live, offers great schools and an abundance of natural beauty.”
Two Lennar communities based in Parker are now selling quick move-in homes, Dove Village and Sierra Ridge. The city of Parker is known for offering a quaint home-town feel with a Western- yet Victorian-inspired downtown which offers a variety of tasty restaurants and charming shops. It’s also just a short 20-minute driving distance southeast from the city of Denver.
Dove Village offers two collections of homes for buyers to choose from. The Grand Collection at Dove Village includes six distinctive floorplans that range in size from approximately 1,975 to 3,177 square feet of living space, up to five bedrooms and three bathrooms. The Monarch collection features five distinctive floorplans with sizes that range from approximately 1,658 to 2,585 square feet, up to four bedrooms and three-and-a-half bathrooms. Homes at Dove Village are priced starting from the $400,000s.
Sierra Ridge presents three collections of floorplans for buyers to choose from. The Grand Collection is available at Sierra Ridge with ten options for buyers to choose from. Sizes range from approximately 1,874 to 4,122 square feet with three to six bedrooms and two to four-and-a-half bathrooms. The Monarch collection is also available at Sierra Ridge with seven floorplans to choose from. Sizes range from approximately 1,849 to 3,083 square feet of space, three to five bedrooms and two to four bathrooms. The Pioneer collection is also available at Sierra Ridge and offers buyers four floorplans to choose from which range in size from approximately 1,720 to 2,336 square feet of space. Homes at Sierra Ridge are priced from the low $400,000s.
Lennar’s wildly popular The Home Within A Home® is available in The Grand Collection at Dove Village and The Grand and Monarch Collections at Sierra Ridge. Designed to accommodate multigenerational living situations, The Home Within a Home floorplan includes an attached private suite complete with a separate entrance, living room, bedroom, bathroom and kitchenette. This set-up allows for each home to have as much privacy from or direct access to one another, depending on each individual circumstance.
To view these communities visit http://www.lennar.com/new-homes/colorado/denver/parker.
With hundreds of communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has grown to become one of the nation’s leading and most respected homebuilders and proudly remains steadfast in their commitment toward quality, value and integrity. Lennar has a longstanding history of building exceptional homes in only the most well planned and desirable locations throughout the country.
As we countdown the days, hours and minutes to the new year, we reflect on ways to improve our life in the year to come. A new year represents a fresh start and what better way to embody that idea than in a brand new home. In the spirit of the season, we’re counting down the main reasons why buying new is better.
#9 A floorplan that works for you. When shopping for a resale home, very often you’ll find that the home you liked best may not offer the specs or bedrooms you and your family needs. Lennar’s new home communities offer a variety of floorplans designed for the way people live today. Open-concept living areas, gourmet kitchens with plenty of counter and storage space, massive walk-in closets in the master bedrooms — you want your home to fit your family, not the other way around.
#8 It’s all new, it’s all included and it’s all under warranty! A used home likely has tired products and parts that may require placement sooner than you’d like. Your new home, and the features and products that comprise it, are brand-new and under warranty. What’s even better? Lennar’s Everything’s Included® program puts a high level of stylish and upscale features and appointments — such as stainless steel appliances, granite slab kitchen countertops and more — into all their new homes as standard. Meaning at no additional cost to the buyer!
#7 Energy and cost savings. Today’s new homes are far more energy-efficient than homes built just five years ago, so when it comes to a home that’s 10 or 20 years old, there really is no contest. Lennar’s Everything’s Included® features put items like programmable thermostats, double paned low emissivity windows, Energystar-certified appliances, low flow toilets and sinks, tankless water heaters and so much more into all their new homes. These items work to create lower energy use and utility costs each month.
#6 Comfort and indoor air quality. Today’s new homes meet new stringent energy standards and codes not in place in the past. They combine high performance energy efficiency with state-of-the-art ventilation and air filtration. The result is year-round, draft-free comfort and higher indoor air quality.
#5 Low maintenance. Just like a new car is computer-designed and engineered, so is a new home. Open floorplans with high ceilings reflect the way people live today, reducing a need to remodel down the road. New homes are made of cutting-edge building products that require less care and maintenance, and the latest building systems and components are designed and engineered to work together.
#4 An amazing lifestyle. Lennar builds walkable communities set in only the most sought-after and desirable locations that have great school districts and are near to shopping centers, major employers, recreation, entertainment and more.
#3 Advanced technology and design. With a resale home, it is possible to replace the single-pane windows with high performance ones or to add insulation. But it’s very expensive to replace dated appliances, cabinets, countertops, water heaters and all the other items that come standard in a new Lennar home. Plus, you won’t have the high ceilings on the first floor of an older two-story home.
#2 Health. New Lennar homes promote healthy indoor air quality with low VOC interior paint and improved insulation systems. Since they’re built with improved materials and technology, the risk of mold is greatly reduced when compared with a resale home.
#1 That new home feel. Chances are that when you buy a resale home, you’re compromising on something. Maybe you love the home but ideally needed an extra bedroom? Regardless of what you have had to compromise on in the past, a new Lennar Everything’s Included® home means you don’t have to anymore. Enjoy a home where the story starts with you. Start your new home search today at www.lennar.com!
With hundreds of communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has grown to become one of the nation’s leading and most respected homebuilders and proudly remains steadfast in their commitment toward quality, value and integrity. Lennar has a longstanding history of building exceptional homes in only the most well planned and desirable locations throughout the country.
Central Valley, Calif. – December 2016 – As we countdown the days, hours and minutes to the New Year, we reflect on ways to improve our life in the year to come. A new year represents a fresh start and what better way to embody that idea than in a brand new home. In the spirit of the season, we are counting down the main reasons why buying new is better.
#9 A floorplan that works for you. When shopping for a resale home, very often you’ll find that the home you liked best may not offer the specs or bedrooms you and your family need. Lennar’s new home communities offer a variety of floorplans designed for the way people live today. Open-concept living areas, gourmet kitchens with plenty of counter and storage space, massive walk-in closets in the master bedrooms — you want your home to fit your family, not the other way around.
#8 It’s all new, it’s all included and it’s all under warranty! A used home likely has tired products and parts that may require replacement sooner than you’d like. Your new home, and the features and products that comprise it, are brand-new and under warranty. What’s even better? Lennar’s Everything’s Included® program puts a high level of stylish and upscale features and appointments — such as stainless steel appliances, granite kitchen countertops and more — into all new homes as standard. Meaning at no additional cost to the buyer!
#7 Energy and cost savings. Today’s new homes are far more energy-efficient than homes built just five years ago, so when it comes to a home that is 10 or 20 years old, there really is no contest. Lennar’s Everything’s Included® features put items like programmable thermostats, dual-pane windows with argon fill and low-E glass, Energy Star®-qualified appliances, low flow toilets and sinks, tankless water heaters and so much more into all their new homes. These items work to create lower energy use and utility costs each month.
#6 Comfort and indoor air quality. Today’s new homes meet new stringent energy standards and codes not in place in the past. They combine high performance energy efficiency with state-of-the-art ventilation and air filtration. The result is year-round, draft-free comfort and higher indoor air quality.
#5 Low maintenance. Just like a new car is computer-designed and engineered, so is a new home. Open floorplans with high ceilings reflect the way people live today, reducing a need to remodel down the road. New homes are made of cutting-edge building products that require less care and maintenance, and the latest building systems and components are designed and engineered to work together.
#4 An amazing lifestyle. Many new homes are built in master-planned communities that provide residents-only amenities. Lennar builds walkable communities set in only the most sought-after and desirable locations that have great school districts and are near to shopping centers, major employers, recreation, entertainment and more.
#3 Advanced technology and design. With a resale home, it is possible to replace the single-pane windows with high performance ones or to add insulation. But it’s very expensive to replace dated appliances, cabinets, countertops, water heaters and all the other items that come standard in a new Lennar home. Plus, you won’t have the high ceilings on the first floor of an older two-story home.
#2 Health. New Lennar homes promote healthy indoor air quality with low VOC interior paint and improved insulation systems. Since they’re built with improved materials and technology, the risk of mold is greatly reduced when compared with a resale home.
#1 That new home feel. Chances are that when you buy a resale home, you’re compromising on something. Maybe you love the home but ideally needed an extra bedroom? Regardless of what you have had to compromise on in the past, a new Lennar Everything’s Included® home means you don’t have to anymore. Enjoy a home where the story starts with you. Start your new home search today at www.lennar.com/fresno or www.lennar.com/bakersfield!
With hundreds of communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has grown to become one of the nation’s leading and most respected homebuilders and proudly remains steadfast in their commitment toward quality, value and integrity. Lennar has a longstanding history of building exceptional homes in only the most well planned and desirable locations throughout the country.
