Arizona is known for bringing the heat and recently the housing market here has followed suit. Post-pandemic home values surged as demand for new builds skyrocketed. Estrella has long been a destination community for a wide variety of home buyers, and despite a changing housing market, experts say no matter what stage of life you’re in, it’s a great time to take the plunge. “I don’t think there’s been a better time to buy in the last five years,” said Ryan Sandell of Landsea Mortgage. “Buyers finally have leverage,” he said. “So many of them were waiting on the sidelines when the rates were really low, and they had no choice but to wait for the market to calm. Now rates are higher, and the market is reacting in a positive way for buyers.”
Those looking for a new Landsea home this fall have even more good news. Right now Landsea’s Vidrio neighborhood in Estrella has 10 quick move-in homes available. Tour one of the four stunning models ranging from 1,886 to 3,040 square feet, with three to five bedrooms, and two to four bathrooms. Current models at Estrella include: the single-story Ventana at 1,886 square feet, the spacious Mirada model at 2,124 square feet or the largest of the single-story options, the Luneta model with its 2,303 square feet. Additionally, Landsea’s two-story Vista floorplan has plenty of space for a family to thrive with five bedrooms and 3,040 square feet of living space.
The floorplan that best fits your needs is as unique as the mortgage Landsea Mortgage can craft for your budget. According to Sandell, the resale market allows for a few small concessions, but builders can offer much more on new builds. “It’s a cake and eat it too situation,” he said. Many builders, including Landsea, are offering a two-one buy down option. An example of that would be if today’s rate is 5.5%, a two-one buy down would charge only 3.5% interest for the first year of the loan, 4.5% for the second, then settle at 5.5% for the remainder of the term. Sometimes referred to as “date the rate, marry the house,” this, he explained, makes the purchase more cost effective for buyers.
Another option you’ll see from many builders is an overall rate buy down option. For example, Landsea is currently offering rates around 3.875% (4.900 APR) for a 30-year fixed loan*. The market rate is closer to 5.5% but in this case the builder is essentially buying down the rate for the buyer. “If you can get that and negotiate the selling price, what more can you want?” Sandell says he expects to see more builders buy down the rates to entice homebuyers who, again, have more leverage than they’ve had in a very long time.
In addition to offering buyers a great lending option, Landsea Homes offers buyers the benefit of High-Performance Home amenities designed to protect the planet and the pocketbook. Landsea homeowners stay healthier and more comfortable, with home automation supported by a partnership with Apple®, providing convenience at your fingertips. The combination makes sense for the discerning buyer who is seeking maximum performance and efficiency throughout the homebuying process and beyond.
These flexible financing options mean it’s an especially good time to be a first-time homebuyer or a buyer working through FHA. At the peak of the housing surge, a large percentage of buyers were paying cash and had great credit, so they were the ones getting the most desirable houses. Now that things have settled down, other homebuyers have a seat at the table.
Find your new home at Estrella.com and discover why more than 7,400 families already call this diverse, welcoming West Valley master-planned community home. Located in Goodyear, Arizona amongst pristine mountains and a dramatic desert landscape, Estrella offers new homes from seven builders, with 19 model homes to tour, and 40 distinct floor plans. Estrella amenities include multiple Residents’ Clubs, resort-style pools, and a waterpark, 72 acres of lakes, 50-plus miles of paths and trails, the Yacht Club of Estrella, the award-winning Nicklaus Design course at the Golf Club of Estrella, community welcome center Casa Lucero, and more than 40 signature and neighborhood parks.
*Rates effective 8/31/22., Landsea Homes is offering an discounted interest rate by offering seller-paid discount points (the “Promotion”) valid on new home contracts entered into as of 8/31/22 through 9/30/22 and closing by 10/31/22 (“Promotion Period”) and applies to select communities. Pre-apply by visiting www.landseamortgage.com prior to submitting an offer to qualify for the Promotion. At closing, Landsea Homes agrees to contribute up to 5.00% of base sale price toward seller-paid discount points and/or other settlement costs. The total contribution by Landsea Homes is subject to maximum contribution limitations based on mortgage loan program guidelines. The Promotion is limited to Federal Housing Administration (FHA) financing for qualified owner-occupied borrowers only. The interest rate and associated annual percentage rate (“APR”) stated above assume a fixed-rate, FHA loan with 96.5% loan-to-value, a qualifying credit score of at least 720 and debt-to-income less than 57.0%. Actual mortgage payment and interest rate may vary based on an applicant’s specific circumstances. Make sure you understand the features associated with the loan program you choose and that it meets your unique financial needs. Subject to all underwriting requirements. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of a loan application with Landsea Mortgage and verification of homeownership, occupancy, title, income, employment, credit, home value, collateral and other underwriting requirements. Not all applicants will be approved for financing. Landsea Mortgage cannot predict where rates will be in the future. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. Landsea Mortgage is a division of NFM, Inc. dba NFM Lending, NFM NMLS #2893 (“Landsea Mortgage”). This is a co-marketing piece with Landsea Homes US Corporation (“Landsea Homes”). Landsea Mortgage is not affiliated with Landsea Homes. You are entitled to shop around for the best lender/real estate company for you. Contact Landsea Mortgage directly to learn more about its mortgage programs and your eligibility for such programs. Landsea Mortgage powered by NFM Tempe branch is located at 850 West Elliot Road, Suite 101, Tempe, AZ 85284. Branch NMLS #1490627. Branch licensing information: AZ 0121417. NFM, Inc. d/b/a NFM Lending. NFM, Inc. is licensed by AZ #0934973. NFM has a financial relationship with Landsea Mortgage, and you may choose not to use Landsea Mortgage in connection with the purchase of a Landsea home. For NFM, Inc.’s full agency and state licensing information, please visit www.nfmlending.com/licensing. NFM, Inc. NMLS #2893 (www.nmlsconsumeraccess.org). NFM, Inc. is not affiliated with, or an agent or division of, a governmental agency or depository institution. Copyright © 2022.
