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Prime Real Estate: Demand strong for new homes

Falling mortgage rates, strengthening wage growth and slowing house price inflation may have improved affordability, but the supply of housing remains tight according to polling of economists by Reuters news service. This is especially apparent at the entry level and lower-priced end of the housing market.

A survey by Reuters showed that while home builders reported strong demand for new homes in April, they also complained about a chronic shortage of buildable lots. The March housing report by the St. Louis Association of REALTORS® also noted that the inventory of homes for sale was down 20% from the corresponding period in 2018, while the median sale price was up 8%.   

If you’re in the market for a newly built home, read on:

Griffey offers custom homes with affordable financing

The Griffey Homes custom homes division can build from a buyer’s plan or a Griffey plan, and offers construction financing.

Griffey Homes’ Denali display is for sale at MacArthur Park, a single cul-de-sac of 11 homesites locate on Central School Road just off Mid Rivers Mall Drive. Sales are also being conducted from the Acadia ranch inventory home also located at MacArthur Park, which also serves as the sales center for Griffey’s custom homes division.

“We will build your plan or our plan, on your land or our land,” Kim Valerio, Griffey sales manager, said. “We have been building custom homes for over 30 years in St. Charles, Lincoln, and Warren counties and west St. Louis County.”

According to Valerio, custom homes by Griffey are affordably priced from $100 per square foot and also allow buyers to work directly with the home builder on elements like aesthetics and customization.

“We have architects available, and an in-house designer and we offer construction financing at affordable rates,” Valerio said.

For more information on custom homes call Kim Valerio at (636) 936-1923 or email kim@griffeyhomes.com.

Meanwhile, Griffey Homes has another brand-new community coming up the line. Dragonstone is the builder’s newest upscale community, located on Bates Road in Dardenne Prairie, and will feature 1/3-acre and larger homesites. All the planned homes will feature three-car garages and, according to Valerio, most will also be walkout sites.

For details on Griffey Homes communities, call (636) 936-1923 or email kim@griffeyhomes.com or visit griffeyhomes.com.

Steve Thomas’ Carter Canyon display starts from the $170’s

Builder Steve Thomas is now offering homes from the $170’s at Carter Canyon in Wright City.

A household name in St. Charles County, builder Steve Thomas is now offering homes from the $170’s. Carter Canyon features beautiful and mostly wooded home sites located off I-70’s exit 200 in Warren County. Standard features in the homes include granite countertops, walk-in closets, cultured marble countertops in each bathroom, Moen faucets, two-car garage, 30-year architectural shingles and more. Also featured is quality laminate flooring in the foyer, kitchen and breakfast room areas. Other rooms feature wall-to-wall carpeting.

“We have our Victoria display, located on Lot 9, ready to view along with one more inventory home, which is still under construction located at Carter Canyon,” sales manager Kathy Meitz said. “We have Lot 15, our Lauren II model, and Lot 10, our Derek model under construction. You still have time to select colors on both lots 10 and 15. Hurry in before these are gone.”

To visit Carter Canyon, take I-70 west from St. Charles to exit 200 and continue on the North Service Road to a right on Westwood, then approximately a half mile to the community entrance on the right.

Meanwhile, at Eagle Estates off Orf Road in St. Charles County, Thomas has a Magnolia II model ready to move in.

“The 2,686-square-foot split-bedroom ranch inventory home is on a wooded homesite with a gorgeous tree line,” Meitz said.

At Eagle Estates, Thomas has eight large homesites remaining on a single cul-de-sac street off Orf Road in the Wentzville School District. Homes are priced from the $390’s. All homes have extensive standard features.

Steve Thomas Custom Division offers custom homes on off-sites locations.

“We can build your dream home using your plan or one of ours,” Thomas said.

For more information about custom homes, Eagle Estates or Carter Canyon, call Kathy Meitz at (636) 561-2173 or visit stevethomashomes.com.

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