Besides the fact that interest rates have been falling, Bay Area and Northern California builders are doing their part to add choices for buyers looking to own in this golden part of the world.
“Interest rates are closing in on 4 percent again, which is a historically significant drop that signals a window of opportunity for buyers that we haven’t seen in a long time,” said Phil Kerr, CEO of City Ventures Homebuilding.
That fact, combined with townhomes priced in the $600,000 range in commute-friendly locations, creates a Bay Area buying opportunity where the cost-to-own falls to record lows. “A key part of any story is low interest rates; and on top of that, we have homes in the $600,000s and $700,000s in terrific communities,” Kerr said.
Those communities include The Grove in Scotts Valley, within easy commute distance of Silicon Valley. “It’s the best in affordability right now in one of the top school districts in the Bay Area,” Kerr added. The company’s new homes in Union City also offer easy commutes to Silicon Valley, San Francisco, Oakland and the Tri-Valley via BART.
Meanwhile, Pleasanton-based Signature Homes is experiencing a new wave of excitement in homebuilding and buyers’ ability to get in at entry level. “We’ve lately geared our neighborhoods toward first-time homebuyers,” said Juliann Cretsinger, vice president of sales and marketing for Signature Homes. “And in places like Sycamore in Rohnert Park, our homes are well received by move-down buyers.”
Signature’s approach affords buyers the benefit of choices. “You never want buyers to feel like they don’t have choices,” she said. “We’re getting to have more conversations with buyers at this level about landscaping and everything that’s possible with design.” Regardless of price point, she added, the company is committed to delivering the same quality of construction for entry-level homes as for luxury homes.
“You should see the windows and the eaves in the homes!” Cretsinger said. “They’re beautiful. And you’ll never find a door with paint missing from the top.” As seen both at Alta in Mountain House and Signature’s newest community of Sycamore in Sonoma County’s Rohnert Park, architectural integrity is a pride point for the company.
In all, Sycamore in Rohnert Park will include 112 homes, about half of which are single-story floor plans. “We learned from the city that people there are interested in single-story homes, so we made a point of that,” Cretsinger said. “It’s a testament to how we …
Source:: The Mercury News – Lifestyle