A few years ago new homes in Northern Virginia flew off the market. Buyer's camped out so that they could grab a great lot or a lottery number for a future section. Builders were in control and buyers happily paid what they asked. Then the market changed and builders were hit hard. Some local builder's lost properties to foreclosure and others just left projects half completed.
Today in our area new construction projects are moving again and developments are seeing a resurgence of buyers. New incentives, pricing and amenities are bring buyers back again. In Lorton (VA) the delayed Gunston Cove developments are now selling. Gunston Cove is within walking distance of the Lorton Market Street Square, minutes to Lorton Station Town Center, the VRE, Fort Belvoir and provide easy access to I-95 for commuting into DC.
Both developments featured detached homes but offer very different home styles. The first development by Integrity Homes has 44 home sites, featuring three floorplans ranging from 2900 SF to 3600 SF. The model names Key West and Boca Raton might conjure up Florida instead of Northern Virginia but the floorplans off great versatility for a busy family. Brick fronts are standard on the Integrity Homes in Gunston Cove and all of the floorplans offer 4 BR's and 2.5 to 3.5 Baths depending on your selection of a finished basement. Currently 15 of the 44 lots are under contract and the builder only has 2 sites left for delivery this year. Both lots are for Key West II models and are priced at $540,000. Incentives and options vary and may change.
Just a block away on the other side of Gunston Cove Road is the second development. This one is by Christopher Company and features two floorplans, Red Oak and Willow Oak and you can add an entry porch to give your home either a Queen Anne or Craftsman style look. The Integrity development offers 35 new home sites and will offer a tot lot and open space in the middle of the development. Homes range in size starting at 2400 square feet and offer an optional finished basement.
Currently there is only one spec home, a Red Oak with a Craftsman front available for September delivery. The home is based priced at $452,000 with $39,384 in options for a total sale price of $491,884. The builder is currently offering to pay 1% of the purchasers first trust towards closing costs IF you use one of the builders designated lenders and settlement company. They are also offering an additional $6000 towards upgrades or closing costs at the buyer's discretion. Both developments are approved for VA, FHA and Conventional Financing.
Both developments are well underway and sales seem to be going strong. If you are considering new construction in Northern Virginia for an upcoming home purchase, call the Cindy Jones team at 703-346-2213. Let us show you how our experience working with builders and developers can help you navigate the new construction buying process.
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