One of the leading home building and mortgage banking companies in the United States, NVR, Inc (NVR) recently opened its new Ravenna model home at Crystal Lake South in Chesapeake, Virginia. This single-family model home – located in the Western Branch area of Chesapeake – boasts a beautiful lakefront view. Residents can enjoy beautiful sunsets and activities such as fishing, canoeing and kayaking. Home prices start from $290,000 onwards.
Built against a picturesque lake backdrop, Ravenna offers various floor plans like ranch style living, first floor owner suites and two storey homes. The spacious homes can include up to 6 bedrooms and up to 4 baths. The residents may also choose to have an optional morning room with a breakfast bar and a gourmet island in their kitchen. The eat-in kitchen has an optional island and a large pantry. The laundry is conveniently located at the second floor. The master bedroom features a walk-in closet, an optional soaking tub and a shower. All the homes come with a two car garage and a tankless hot water heater.
Like all other NVR homes, Ravenna comes with a 10 year structural warranty and is ENERGY STAR certified. The residents can enjoy the tranquil settings and at the same time enjoy easy access to stores, restaurants and commuting routes like Interstate 64, 264, 664.
Earlier, in September, NVR – a peer of DR Horton Inc. (DHI) – introduced Picasso condominium model home at Market Square, Maryland. The townhomes are located in the historic downtown Frederick City. Home prices start from $200,000 onwards. NVR had previously introduced similar single family Ravenna model home at Shawnee Crossing in Pickerington, Ohio. Home prices start from $190,000 onwards.
We like the company’s initiative to constantly introduce new products. With the improvement in the housing market, low mortgage rates and rising house rents, more people are settling for home purchases. With frequent introduction of products and a strong inventory, the company will be able to capitalize on the improving markets.
NVR Inc. carries a Zacks #1 Rank in the near term (Strong Buy rating). We currently have an Outperform recommendation on NVR Inc.
Headquartered in Reston, Virginia, NVR Inc. is one of the leading home building and mortgage banking companies in the United States. The three homebuilding brands owned by the company include Ryan Homes, NVHomes and Fox Ridge Homes. NVR Inc. focuses on purchasing completed building lots at market prices under flat price purchase agreements, in order to forgo the risk associated with land ownership and land development.
D R HORTON INC (DHI): Free Stock Analysis Report
NVR INC (NVR): Free Stock Analysis Report
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