The Grove at The Arboretum was busy last week, selling 6 new condominium homes! Priced from the low $200′s, these two and three bedroom condos offer an incredible value with unmatched quality. Conveniently located in the Greenbrier section of Chesapeake and built by the award winning Dragas Companies, The Grove has sold more than 75 new homes in just over a year since our grand opening! With only 35 residences left to sell, time is running out to make The Grove your new home. Visit dragas.com to learn more, or stop by our sales office for a tour of our three furnished models. We are open daily 11am-6pm and Sunday from noon-6pm.
Framing has begun at The Apartments at Spence Crossing!
Thinking about renting in Virginia Beach this summer? You’ve come to the right place. The Apartments at Spence Crossing is a stylish new apartment community in Virginia Beach with beautiful 1, 2 and 3-bedroom floor plans. Check back often for updates on this conveniently located community built by The Dragas Companies, an award-winning local builder with more than 40 years experience in Hampton Roads.
Real Estate Information Network (REIN) announced today that Hampton Roads sales figures are off to a strong start in the 2nd quarter of 2013:
The Hampton Roads Real Estate market got off to a strong start for the second quarter of 2013. April 2013 was characterized by a year-over-year decrease in the number of residential active listings while residential pending and settled sales experienced significant year-over-year increases, driving the market in a positive direction.
According to the announcement, inventory remains low throughout Hampton Roads, specifically in Newport News and Chesapeake, while the area’s median residential sales price has increased. For the complete release, click here.
Ready to change your status from renter to homeowner? Visit dragas.com to see how realizing your dream of homeownership can be easier, and more affordable, than you think in any of our new condominium communities throughout Chesapeake.
Our production staff and subcontractors were hard at work before the sun came up this morning, pouring the first slab for The Apartments at Spence Crossing!
You’re close to it all at Spence Crossing. 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. More more information and to be added to our interest list, click here.
A home of your own. Now under $1,100*/month.
Go ahead, spring for it.
Why rent when you can own a brand-new condominium home, conveniently located in Chesapeake, built by The Dragas Companies?
Buy now at King’s Pointe at Western Branch or The Grove at The Arboretum and receive the following incredible incentives on select homes*:
$5,000 off the base price of your new home
Free Stainless Steel Appliance Package
All closing costs and prepaids
One year of condo dues paid
Plus, we’ll even move you for FREE!!!
*For complete details and restrictions, click here.
Lisa Parker, President of Dragas Mortgage Company, announced that Connie Clyburn has joined its Virginia Beach office as Senior Loan Officer.
Ms. Clyburn has over 30 years of residential lending experience in Hampton Roads and brings a vast array of knowledge to the Dragas Mortgage team as she has previously held positions in Mortgage Underwriting, Operations Management and Loan Origination.
A member of Tidewater Mortgage Bankers Association and an affiliate member of Hampton Roads Realtors Association, Ms. Clyburn has supported charitable organizations to include The Foodbank of Southeastern Virginia, American Cancer Society, Children’s Hospital of King’s Daughters and National Kidney Foundation.
Dragas Mortgage Company has been providing loans for home purchases and refinances to homeowners in Hampton Roads since 1968.
The National Association of Home Builders reported today that new home sales increased 1.5% in March:
“This is the second-best sales number we’ve seen since early 2010, and a good sign of the continued, gradual headway that our industry is making toward recovery as more buyers jump off the fence in time to take advantage of today’s low interest rates and prices,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C.
For the complete report from NAHB, click here.
Are you a renter whose ready to make the jump off the fence into homeownership? Dragas Communities like King’s Pointe at Western Branch and The Grove at The Arboretum, conveniently located in Chesapeake, Virginia offer brand new condominium homes for less than you are probably paying in rent! To find out more, visit dragas.com.
Buying a home is one of the best investments you can make for your future. And when it’s a brand-new, beautifully designed, move-in ready home in a community like The Grove—for less than you’re probably paying in rent? That’s an investment that starts paying off right away.
The Grove at The Arboretum features 2 and 3 bedroom condominium homes, including a floor plan with a cozy downstairs master suite, with prices currently starting under $200,000.00.
For a limited time receive these incredible incentives on select homes: ALL Closing Costs and Prepaids, FREE Stainless Steel Appliance Package, and PAID Condo Fees for One Year!
For details on incentives and payments, click here.
Why throw money away each month on a place someone else owns? Right now, you could buy a brand-new, well-built home of your own in King’s Pointe at Western Branch—and all for less than you’re probably paying in rent. For a limited time on select homes you’ll receive these exciting incentives:
ALL Closing Costs and Prepaids, One Year PAID Condo Fees and a FREE Stainless Steel Appliance Package!
Stop by our fully decorated models this weekend, we will be open 11-6 Saturday, noon-6 Sunday, or visit dragas.com for more information. For details on incentives and payments click here.
We’ve reached an important milestone at The Apartments at Spence Crossing, the newest apartment community built by the award winning Dragas Companies! Last week we started foundation work on the first building! Dave Cowen and David Buckley were on site supervising the work as we get started on our stylish new apartment community in Virginia Beach with beautiful 1, 2 and 3-bedroom floor plans, opening this summer. At The Dragas Companies, we know what today’s renters are looking for—quality of life and quality construction.
According to a recent article by Trulia, buying a home is now considerably more affordable than renting in the top 100 largest metro markets in the United States, including Hampton Roads:
In fact, homeownership is cheaper than renting in all of America’s 100 largest metros. That’s because falling mortgage rates have kept buying almost as affordable, relative to renting, as it was last year.
For the complete article on trulia.com, click here. If you are ready to kiss your landlord goodbye, now is a great time to buy in any of our new condominium communities throughout Chesapeake. Interest rates are still at record lows and our incredible incentives make purchasing your first home from The Dragas Companies an easy decision. Visit us at dragas.com today.
Association is optimistic about 2013 as well
The National Association of Realtors announced that 2012′s Housing Affordability Index will go down as a record year for homebuyers:
NAR’s national Housing Affordability Index stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power; record keeping began in 1970.
An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent downpayment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small down payments, the affordability levels are relatively lower.
For all of 2012, NAR projects the housing affordability index to be a record high 194, up from 186 in 2011, which was the previous record. November’s reading was 2.5 index points below October, but up 1.5 index points from a year earlier.
With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of Realtors.
For the complete release, click here.
There’s never been a more better time to buy a home! Interest rates are still at record lows and our affordable, new condominium communities through Hampton Roads making buying your first home a great investment. Visit dragas.com to see how easy, and affordable, changing your status from renter to homeowner can be!
Lauren Dial, one of our talented Sales Managers at King’s Pointe, stopped by our corporate office today to introduce us to her beautiful baby girl, Mae. Congratulations to Lauren and her husband Chris on their new addition! Lauren will be back at King’s Pointe mid-February selling our two and three bedroom condominium homes.
Real Estate Information Network, Inc., commonly referred to as REIN, issued a release today with encouraging signs of a strengthening real estate market in Hampton Roads.
The final numbers are in and the Hampton Roads real estate market ended the year with encouraging statistics that indicate 2012 was a year of strengthening and recovery. Although inventory levels are the lowest since 2005, pending and settled sales posted healthy increases for a second year in a row, and the median sales price is slowly but steadily moving up.
Statistical highlights for last month are predominately positive even though December is historically one of the slowest months for real estate activity. The number of active residential homes (including new construction) for sale in December 2012 is down 13.36% when measured against December 2011. This brings the region down to a 5.91 month’s supply of inventory. Six months is considered a normal real estate market. Chesapeake’s active residential active listings are down the most at 22.94% year-over-year, to a 4.96 month’s supply of inventory, and Virginia Beach is down 21.45% to a 4.18 month’s supply. This is the lowest number of active residential listings since May 2006 when there were 9,448 residential homes for sale.
For the entire release, click here.
All signs point to a recovering real estate market in Hampton Roads. Why not change your status from renter to homeowner while interest rates are still low, further increasing your buying power? At any Dragas new condominium community you can buy a brand-new home of your own for probably less than you are paying in rent. Check us out at dragas.com to see how affordable homeownership can be!
Andrew Kantor of varbuzz.com breaks down the buying power of today’s low interest rates from an article by Tim Iacono of Iacono Research:
In fact, the future is brighter for those who buy at low rates. They’re also buying at or near the market bottom, so their homes’ value will increase. And even if it didn’t, it doesn’t matter — as Iacono himself points out, people buy based on the affordability of the monthly payment. If they can afford a more expensive home thanks to lower rates, more power to ‘em.
Still renting? Why not exercise your increased buying power while rates are still historically low? Visit dragas.comto see how our affordably priced new condominium communities throughout Chesapeake, Virginia can allow you to change your status from renter to homeowner for probably less than you are paying in rent!
Many New Year’s resolutions are focused on saving money in the new year. We all want to have some extra cash in our pockets, and this graph from Intuit shows us some very easy ways to trim our monthly expenses that can make a big impact in our savings accounts.
Personal Finances from Quicken
Another great way to save cash is to stop paying rent and start investing in a home of your own. Dragas new condominium communities throughout Chesapeake, Virginia offer well-built, affordable new homes that may cost less than you are currently paying in rent. Visit dragas.com to see how your new year’s resolution of homeownership may be in reach.
Freddie Mac issued a statement that the 30 year fixed rate averaged 3.66% for 2012, the lowest average in at least 65 years:
Mortgage rates ended this year near record lows. The 30-year fixed-rate mortgage averaged 3.66 percent for 2012, the lowest annual average in at least 65 years. Rates on 30-year fixed mortgages were nearly 0.6 percentage points below that of the beginning of the year, which translates into an interest payment savings of nearly $98,600 over the life of a $200,000 loan. Moreover, opting for a 15-year fixed mortgage at today’s rates, a homeowner could save an additional $138,400 in interest payments.
For the complete statement released by Freddie Mac, click here.
Still renting? What are you waiting for? Now is the time to change your status from renter to homeowner. Visit dragas.com to find out more about our affordable, new condominium communities located in Chesapeake, Virginia. With rates at historically low levels, you can own your own new home for probably less than you are paying in rent!
The National Association of Home Builders announced today that new home sales rose 4.4%, to the highest monthly level since the end of the home buyer tax credit in April 2010:
The median sales price rose 14.9% and average prices rose 20% that are likely a combined effect of higher priced homes sold and a reflection in the cost of building materials and lot price increases.
The future of new home sales continues to look positive as mortgage rates remain very low, home prices stabilize and pent-up demand continues to emerge.
Click here to enjoy the complete article from NAHB.
Are you ready to change your status from renter to homeowner? Don’t wait, take advantage of our incredible year-end pricing and incentives at any of our Dragas new home communities. Oakbrooke Crossing, King’s Pointe at Western Branch and The Grove at The Arboretum are all affordably priced and conveniently located in Chesapeake, Virginia. Thanks to current interest rates, your monthly mortgage payment may be less than you are paying in rent! Visit dragas.com to learn more.
The Dragas Companies’ corporate office will be closed December 24-December 26th in observance of the Christmas Holiday. Our sales offices will be closed on Christmas Eve and Christmas Day and will reopen at 11am on Wednesday, December 26th.
We’d like to take this opportunity to wish all of our employees, sales agents and homeowners a joyous holiday season!
Christmas is only one week away!! You can keep you holiday safe by following some simple guidelines regarding decorating. Here are some great tips published by the US Product and Safety Commission on safely decorating your home for Christmas:
Even though the temperatures are still pretty mild for this time of year, it’s the perfect time to get your Dragas home ready for the winter. One of the most important winterizing tasks is taking steps to help prevent your hose bibs from freezing as temperatures get colder throughout the winter. To help prevent the outside water connections (called “hose bibs” or “spigots”) from freezing, please follow these directions:
The outside hose bib has its own cutoff valve, usually located in a downstairs closet of a Dragas home. Also in the closet is the main water cut off. Both cut offs should be labeled for quick access.
After locating the circular handle of the cutoff valve, rotate the handle in a clockwise direction until refusal to close the valve.
Go outside to the hose bib located on your patio and turn the hose bib handle counterclockwise to the open position.
Locate the small stem sticking out of the spout of the hose bib. Use your fingers, or a pair of needle nose pliers, to gently pull the stem downward and to one side or the other. A small amount of water might drain out of the spout at this time.
When the water is finished draining, close the hose bib valve.
We recommend the use of insulating covers for hose bibs that are available at local hardware stores. In lieu of this, a rag or towel wrapped and tied around the handle and spout of the hose bib will help to provide some insulation.
USA Today reported that mortgage rates are near record lows, averaging 3.32% for a 30 year fixed rate loan.
Sales of newly built and previously occupied homes are up from a year ago. Home prices have increased. And builders are more confident in the market and are responding by starting construction on more homes.
Rising prices encourage people to sell their homes. And they lead to more buying, in part because some start to worry that prices could rise further.
For the complete article, click here.
If you are tired of renting and want to take advantage of today’s low interest rates, visit dragas.com. At any of our new condominium communities you could own your own home for probably less than you are paying for rent. Oakbrooke Crossing, King’s Pointe at Western Branch and The Grove at The Arboretum are all conveniently located in Chesapeake, Virginia. Act now to take advantage of our incredible year-end incentives: one year of condo dues, a free stainless steel applianace package and all closing costs are paid using our preferred lender, Dragas Mortgage Company. See site agent for details on how you can qualify for these incentives and change your status from renter to homeowner today.