Plus, this month we are giving away incredible incentives on homes closing by the end of this year!
That’s right, on select homes at our new condominium communities throughout Chesapeake, you can own your own home for less than you are paying in rent, plus you’ll receive the following amazing incentives when you close by the end of this year :
Up to $7,500 off the base price of your new home
All closing costs and prepaids
One year of condo fees paid at closing
Free stainless steel appliance package
For details on these amazing incentives, click here.
The National Association of Home Builders announced today that sales of newly built, single-family homes rose 7.9 percent in August.
“Consumers are adjusting to the reality of today’s higher rates following a period of record-setting lows, and today’s sales report provides evidence of that,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “We expect to see more buyers coming back to the market as the psychological effects of the rate gains continue to wear off, particularly since, even after the recent spike, mortgage rates remain exceptionally favorable on a historic basis.”
It’s great to see that home buyers are jumping back into the market after recent rate increases. In fact, when we look back at previous periods of dramatic rate increases, we can see that home values have continued to appreciate in spite of spikes in interest rates.
In all of the above examples we can see that rates jumped by approximately 2% each time and home values still continued to appreciate. Although rates inched up this summer, they are still historically low and prices are starting to climb. Why not make the jump from renter to homeowner now and lock in a great deal on a new condominium built by The Dragas Companies? Our new home communities throughout Chesapeake offer the perfect solution to someone looking to purchase their new home on a budget, while not wanting to sacrifice quality, location or luxury. Visit dragas.com to learn more.
The National Association of Realtors’ published their Economic Outlook for October 2013 – December 2014, showing a continued climb for sales prices on existing and new construction homes.
In a release this week on NAR’s website, they predicted that the national median existing home price for 2013 will end up with near 12% gains, along with a very healthy 5-6% rise for 2014. For the complete release, click here.
Owning your own home can be a great investment in your financial future. Stop by our new home communities throughout Chesapeake this weekend to see how owning a brand-new condominium home of your own can fit your budget as well as your lifestyle. For over 40 years we have been turning renters into homeowners, find out why at dragas.com.
Zillow’s recent Home Price Expectations Survey predicted strong appreciation in the housing market for the next several years.
Based on current expectations for home value appreciation over the next five years, the panelists on average predicted that U.S. home values could approach new record highs by the end of 2017, coming very close to the previous peak level of $194,600 set in May 2007.
Traditionally, real estate has been viewed as an excellent tool for building wealth. A recent article by MSN Real Estate noted the benefits of real estate as an investment.
Buying a home gives you a chance to start building equity, and you are investing in your future. Even if you end up selling your home in five or 10 years, you could profit from the sale and invest that money elsewhere. If you’ve been dealing with rising rent or the hassles of costly moves for the past few years, settling in to a home can stabilize your housing expenses – especially if you get a fixed-rate loan at a great rate. You won’t have to worry about your monthly housing expenses changing significantly for a few years, and you will pay for something that has more value than a rental property. Consider the benefits of making this type of contribution to your future month after month.
Ready to start investing in your future by buying your first home? Our new condominium communities throughout Chesapeake offer well-built homes in well-planned communities for less than you may be paying in rent. Visit dragas.com to learn more.
Rents have been on the rise for the last several years, and many experts have predicted that this trend will continue for the foreseeable future. One of the many financial advantages of owning your own home is control of your housing costs. Locking in your monthly housing expense with a fixed rate mortgage while rates are still historically low can be an important step in financial planning and wealth building. A recent article on MSN Real Estate lists the costs of rising rents as an important reason to buy a home this year.
A buyer’s market means it might be time to say goodbye to renting for good. If you’re tired of rent increases at your current location or want to move but will experience a spike in rent, consider the benefits of buying a home instead. You may be able to secure a great rate with your credit history and end up paying the equivalent or less in monthly payments as you build equity in a home. Renting can be a more affordable option for the short term, but renters still have to face rising rental costs year after year.
For instance, let’s compare the monthly cost of owning a brand-new condominium at King’s Pointe at Western Branch to renting, based on a VA loan with zero down payment at today’s current prices and interest rates:
Everyone’s tax situation is different, so we encourage you to consult a tax advisor for your specific tax savings. For more information on our affordable condominium communities throughout Chesapeake, visit dragas.com. For more than 40 years we have been turning renters into homeowners, stop by one of our new home communities or visit us on-line to see why.
We were honored to attend Chesapeake’s 2013 First Citizen banquet honoring Roland J. David, Jr.. The selfless work that Ms. Davis has done over the years has helped make Chesapeake the city it is today, a city we are proud to be a part of.
As part of The Dragas Promise, we pledge to provide “A well-planned community – a true neighborhood, attractively designed and landscaped, and professionally maintained to protect and enhance your investment for years to come”.
So often we hear our buyers comment on how beautiful older, established Dragas communities still look. This is something we take great pride in and something we strive to plan for with each community we build. Whenever possible, we add green space and amenities like swimming pools, lakes and walking trails, and long before we break ground, we develop a site plan that will make the community as homeowner-friendly as possible.
We recently took a drive through Ridgely Manor at Lake Smith, a community that we opened in 2005. Eight years later, the community still looks magnificent. In fact, we couldn’t help but snap a few photos!
Can where you live influence how you live?
Absolutely. For those who work on this side of the water, King’s Pointe can mean the difference between spending time in traffic or spending it relaxing in your own new home in a beautiful new Chesapeake condominium community filled with trees, ponds and an upscale pool and clubhouse.
Our Windsor floor plan offers an open, airy design with a fresh and modern appeal. Starting in the mid-$100′s, with limited-time incentives, your dream home is just a click away!
For details on these amazing incentives, and how you can own your own brand-new home for under $900/month, click here.
Experts predict strong home appreciation through 2017, according to Zillow Home Price Expectations Survey
Further, Lawrence Yun, Chief Economist of The National Association of Realtors said in July:
The rise in the renter population with no net increase in the owner population at a time of housing recovery automatically means greater unequal distribution of wealth. Housing wealth is rising because of price increases, but the wealth is going to the fewer and fewer households who happen to be homeowners and those who own more than one homes.
Tired of building wealth for your landlord and not for your own nest egg? Owning a home can be a smart long-term financial decision, and buying your first home from The Dragas Companies can actually cost less than you are paying each month in rent. Find out more about our new home communities throughout Chesapeake at dragas.com.
For more information from the Home Price Expectations Survey, click here.
Tired of renting? You may be surprised at how affordable owning a brand-new condominium built by the award-winning Dragas Companies can be. When you compare the cost of renting verses owning, the numbers are clear:
All figures are estimated on a VA loan with 0% down payment at King’s Pointe at Western Branch, a new condominium community conveniently located in Chesapeake, and can vary. Tax figures are estimates, consult a tax advisor for your specific tax benefits. For more information on how to change your status from renter to homeowner, visit dragas.com.
Based on The National Association of Realtors’ Housing Pulse Survey, many share the same opinion.
From NAR’s press release: The survey, which measures consumers’ attitudes and concerns about housing opportunities, found eight in 10 Americans believe buying a home is a good financial decision and more than two-thirds (68 percent) said now is a good time to buy a home. Since the last survey in 2011, more renters are now thinking about purchasing a home, up from 25 percent to 36 percent, while those who say they prefer to rent dropped from 31 percent to 25 percent. Half of renters say that eventually owning a home is one of their highest personal priorities, up from 42 percent to 51 percent.
For more information on the survey’s results, click here.
For those of us on the front lines selling real estate, primarily to first-time home buyers, this news comes as no surprise. We hear every day from buyers at our new home communities throughout Chesapeake that they are tired of paying rent and having nothing to show for it, especially when rates and prices are still at a point where their monthly payment when buying a new condominium built by The Dragas Companies is less than what they are paying in rent! Visit dragas.com to see how you can change your status from renter to homeowner.
No one has a crystal ball, but housing experts predict continued rise in home prices and interest rates going into next year.
What are you waiting for? Now is the time to take the leap to homeownership at one of our new home communities throughout Chesapeake. Visit dragas.com to see how easy and affordable purchasing your new condominium built by The Dragas Companies can be.
Our charming, garden-style flats at King’s Pointe offer open, airy floor plans with a fresh and modern appeal.
Nestled behind a 14-acre forested preservation area, King’s Pointe is just minutes from I-664 and the Peninsula and all the shopping, dining, entertainment and attractions of Western Branch, one of the most vibrant and livable sections of Chesapeake.
Currently starting in the $130′s, The Hanover floor plan offers single level living with two bedrooms and two baths, a spacious laundry room and an open floor plan, perfect for entertaining. For a limited time, receive $5,000 off the base price of your new Hanover home! Visit dragas.com to get more information and to see how easily you can change your status from renter to homeowner at King’s Pointe!
Projections from Fannie Mae’s Housing Forecast show improvements in home sales, prices and an increase in interest rates
So what are you waiting for? With prices and rates on the rise, now is the best time to lock in to an affordable new home built by The Dragas Companies. With new condominium communities throughout Chesapeake, you don’t have to settle to stay within your budget. Our new homes offer spacious floor plans, quality construction in beautiful communities and are located in the most convenient areas of Chesapeake. Visit dragas.com to learn how easy, and affordable, owning your new home built by The Dragas Companies can be.
We are down to our last building of Hickory floor plans at The Grove at The Arboretum. Don’t miss out on your chance to own one of these popular three bedroom floor plans featuring a luxurious downstairs master suite.
Priced from the low $200′s, we are offering these special limited time incentives only on our Hickory floor plans:
$5,000 off the base price of your new Hickory floor plan
Free Deluxe Stainless Steel Appliance Package
One year of paid condo dues
All closing costs and prepaids
Plus, we’ll even move you for free!
For more information on these incredible incentives, click here.
Everyone knows that rates have been on the rise as of late, but no one knows how much higher they will go.
What we do know is that historically, current rates are still low compared to just a few years ago. Don’t let rising rates lock you out of home ownership. At our new condominium communities throughout Chesapeake, you may be able to own a brand-new home built by The Dragas Companies for less than you are paying in rent!
King’s Pointe at Western Branch and The Grove at The Arboretum combined for 17 new home sales and 20 closings! A big shout out to our Sales and Production teams for their hard work to make this happen!
Want to see what all of the buzz is about? At our new condominium communities conveniently located throughout Chesapeake, you’ll find well-designed homes in well-planned communities, all for less than you are probably paying in rent! Visit dragas.com to learn more.
Want to be close to it all, while enjoying all of the comforts of home at Virginia Beach’s newest apartment community?
The Apartments at Spence Crossing is located in the Princess Anne section of Virginia Beach, one of the most active and thriving areas in all of Hampton Roads. Life here means easy travel to work, school, recreation and the best of Virginia Beach shopping, dining and fun. Quick access to major transportation routes can take you anywhere in Hampton Roads easily—and bring you right back home again to your own personal retreat at Spence Crossing.
In observance of Labor Day, The Dragas Companies‘ corporate office will be closed today. Please stop by to tour our decorated models in any of our new condominium communities throughout Chesapeake today from 11am-6pm.
The Virginia Symphony will perform a free concert tonight from 6-8:30pm at Chesapeake City Park as part of their Symphony Under the Stars series. Concessions, children’s activities, a silent auction and wine tasting are all part of the fun, with proceeds benefiting the ARTS in Chesapeake.
Symphony Under the Stars is just one of many free and fun activities at Chesapeake City Park throughout the year. If you are looking for a brand-new home in the heart of Greenbrier and located just behind Chesapeake City Park, visit The Grove at The Arboretum.
Our third building is being framed at The Apartments at Spence Crossing while siding goes up on our first building, which will be ready for move-in early this fall! Plus, our Facebook page is up with more than 40 likes in just a few days! Click here to become a fan and stay updated on everything going on at Virginia Beach’s newest premier apartment community built by the award winning Dragas Companies.
For over 40 years, we’ve been making homeownership possible-and affordable-for first-time homebuyers and others looking for well-built homes in well-planned condominium communities in Hampton Roads. Go ahead, start dreaming. We’ll help you make it real.
Our new condominium communities throughout Chesapeake can help make your dream come true. Two and three bedroom homes at The Grove at The Arboretum offer three spacious floor plans, including one with a downstairs master suite, conveniently located in Greenbrier. At King’s Pointe, you’ll find 5 floor plans to choose from, just minutes from the shopping, dining and entertainment of popular Western Branch. Visit dragas.com to see how easy, and affordable, it can be to turn your dream into a reality.
Part of your mortgage payment each month builds equity in your home. So years from now when you sell it, you’ll have something to show for those checks you wrote-your own nest egg! The numbers just make sense:
All figures are estimated on a VA loan with 0% down payment at The Grove at The Arboretum, a new condominium community conveniently located in Chesapeake, and can vary. Tax figures are estimates, consult a tax advisor for your specific tax benefits. For more information on how to change your status from renter to homeowner, visit dragas.com.
Summer is winding down and so are our end of summer incentives!
There are only a few days remaining to take advantage of these incredible incentives on select homes at our new condominium communities in Chesapeake, King’s Pointe and Western Branch and The Grove at The Arboretum:
$5,000 off the base price of your new home, ALL closing costs and prepaids, one year of condo dues paid, free stainless steel appliance package, plus, we’ll even move you for free!
For details on these incredible incentives, click here.
NAHB’s Eye on Housing recently reported that the recent rise in interest rates combined with rising home prices is starting to chip away at housing affordability. The good news? There is still time to take advantage of relatively low interest rates and prices while they are on the upswing, before buyers find themselves priced out of the market.
Recent gains in home prices and rising interest rates have put a dent in housing affordability. According to the NAHB/Wells Fargo Housing Opportunity Index, 69.3% of the homes sold between the beginning of April and end of June were affordable to families earning the U.S. median income of $64,400. This is down from 73.7% in the first quarter and the first time that the measure has fallen below 70% since late 2008.
However, interest rates remain low and underlying economic fundamentals should support continued growth for housing, with occasional monthly ups and downs. The NAHB/Wells Fargo Housing Market Index for August supports this conclusion, rising to a level of 59, the highest in eight years. Builders see customers recovering from the fears evident in the early stages of the recovery when house price movements were uncertain. Unlocked pent-up demand and the limited supply of new and existing homes have also supported housing demand.
For the complete post, click here.
Still renting? Don’t miss out. Here’s your chance to own a beautiful, brand-new home of your own for less than you are probably paying in rent. Our new condominium communities throughout Chesapeake offer well-built homes in well-planned communities at a price that’s often more affordable than renting. Visit dragas.com to learn more.