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Prime Real Estate: Lower mortgage rates lure buyers

Falling mortgage rates are drawing homebuyers into the market where, ironically, affordable homes are somewhat scarce and selling quickly.

Mortgage buyer Freddie Mac said last week that the average rate on a 30-year, fixed-rate mortgage had slipped to 4.06%. By contrast, a year ago the benchmark rate was 4.66%. The average rate for a 15-year, fixed-rate loan also declined.

Pending sales of single-family homes, meanwhile, are up nearly 10% over last year, according to the St. Louis Association of Realtors. The median price of single-family homes was $195,000 last month. Homebuyers are beginning to return in force, and for well-priced homes in desirable locations, competition is fierce.

If you’re shopping for a newly built home, read on:

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

Griffey offers affordable custom homes

Griffey Homes has sold its Denali display at MacArthur Park, a single cul de sac of just 11 homesites on Central School Road just off Mid Rivers Mall Drive. According to Griffey sales manager Kim Valerio, sales are currently being conducted from the community’s Acadia ranch inventory home.

MacArthur Park also is the sales center for Griffey’s custom homes division.

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

Custom homes by Griffey are affordably priced from $100 per square foot and buyers work directly with the home builder.

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

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

For more information on Griffey Homes, its communities or custom builds call Valerio at (636) 936-1923, email kim@griffeyhomes.com or visit griffeyhomes.com.

Steve Thomas display at Carter Canyon open for viewing

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 of I-70’s exit 200 in Warren County. Among the standard features in these homes are granite countertops, quality laminate flooring in the foyer, kitchen and breakfast room, wall-to-wall carpeting in other rooms, walk-in closets, cultured marble countertops in each bathroom, Moen faucets, a two-car garage, 30-year architectural shingles and much more.

“We have our Victoria display, located on Lot 9, ready to view along with one more inventory home that is still under construction at Carter Canyon,” reported sales manager Kathy Meitz.“We have Lot 15, our Lauren II model under construction and you still can select interior colors. Hurry in before this is gone.”

To visit Carter Canyon take I-70 west from St. Charles to exit 200 and continue straight ahead on the North Service Road to right on Westwood 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 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 seven 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.

Additionally, the Steve Thomas Custom Division offers custom homes on off-site locations.

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

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

Lombardo Homes offers detached villas

Lombardo Homes has a select number of luxury detached villa homes available in the desirable active adult community of Heritage of Hawk Ridge, located west of Lake Saint Louis Boulevard and south of Hwy. 40/ I-64.

Heritage of Hawk Ridge offers the conveniences of nearby shopping and dining with easy access to main thoroughfares, while also providing the serenity of golf course living. According to  Lombardo’s website, Heritage of Hawk Ridge isn’t just a new-home community, it’s a lifestyle.

“After retirement, lifestyle goals change and the detached villas in Lake Saint Louis offer maintenance-free living with outstanding community amenities,” the builder states.

Heritage of Hawk Ridge features detached ranch villas priced from the low $270’s to $290’s with 1,600 square feet to over 2,200 square feet of living space, two to four bedrooms, spacious open layouts and exquisite exterior elevations.

Heritage of Hawk Ridge residents enjoy resort-style amenities which include a 9-hole, executive-style golf course; a 10,000-square-foot clubhouse with outdoor pool, two tennis courts, fitness center and on-site Hawkeye Grill and Pro Shop; as well as planned community activities.

For more information call (636) 395-0006, email hawkridge@lombardohomes.com or visit lombardohomes.com. Better still, visit Heritage of Hawk Ridge to tour the model home.

Take Hwy. 40/I-64 to Lake Saint Louis Boulevard to Hawk Ridge Circle to Hawk Ridge Boulevard to Hawks Landing Drive to the sales office at 204 Pigeon Drive.

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