New Homes Are Back!

I don’t know if you read the article in the Arizona Republic this weekend, however, I am happy to share with you a bit of good news – New Homes are back!

"There's no question the new home market is finally on its way back," said RL Brown, publisher of the "Phoenix Housing Market Letter," a monthly newsletter tracking home building. "But no one knows whether it will come back rip-roaring like the boom of 2006 or a more normal market like 2003. For the first two months of this year, new home permits are up 84 percent compared with the same period in 2011, but the overall numbers are still low by metro Phoenix standards.”

“Among buyers, a growing number who have been outbid multiple times on short sales and foreclosures are opting to purchase new houses instead. And among builders, who have seen several dismal years of slow sales and deep losses, some are now reporting profits or at least their highest monthly sales in years.”

The surge in new home activity is exciting for both home buyers and within the Russo Team. We recently partnered with Lennar Homes on a new home project in Peoria – Cabrillo Point located at 73rd Ave just south of Bell Road. The Russo Team will be the real estate professionals representing this community.

If you are tired of multiple offers, losing out to investors or property condition concerns on resale REO homes, then perhaps a new home is the way to go today. Cabrillo Point is conveniently located near the Arrowhead Entertainment District, the 101 Loop and provides an excellent choice for schooling within Peoria School District. Base prices start at $157,990 and range in size from 1,400 square feet to 2,903 square feet. This subdivision also offers the unique NEXTGEN™ - The Home Within A Home™ as well as the “Everything’s Included.”

Models are available and can be seen by appointment. If you are interested in learning more, you can visit us online to view options, floor plans and even take a video tour – click here now. Call us at 602-864-1200 today – New Homes are back!

Source: Arizona Republic