One of the leading home building and mortgage banking companies in the United States, NVR, Inc (NVR - Free Report) unveiled the new Victoria Falls model home at Patriot's Glen in Elkton, Maryland. The estate–style homes are located in a peaceful neighborhood against a golf course setting. Home prices start from $270,000 onwards.
The Victoria Falls home offers a 2-story foyer with a waterfall staircase, and spacious interiors with 4 bed rooms each. The kitchen, which features an island and a large pantry, also has the option of a morning room and a Gourmet Island. The laundry room can also be transformed to suit other purposes. The master bedroom features an optional tray ceiling, 2 closets and dual vanities, with the adjoining washroom featuring a 6 feet tub and a shower with seat. The owner also has the option of adding a home office to the main level. Like all other NV homes, Victoria Falls homes come with a 10 year structural warranty and are ENERGY STAR certified. The residents can therefore save up to 30% on monthly utility bills.
The residents of Victoria Falls can enjoy the facilities of community living such as golf course, fitness facilities, a clubhouse with a swimming pool and restaurants. Since the residents of Patriot's Glen have easy access to Route 896, Route 40 and I-95, they can easily commute to Wilmington, Philadelphia and Aberdeen Proving Ground.
In a separate development, NVR Inc. introduced single family homes at Sadsbury Park in Coatesville, Pennsylvania, with prices starting from $180,000. The company had previously introduced Springbrook single family homes at Regency at Highland Lakes in Westerville, Ohio, with prices starting from $190,000 onward.
With the improvement in the housing market and rising house rents, purchasing a home has started making sense. The rising demand has led to a favorable situation in the housing market, where inventory levels are dropping and prices are moving upward. Therefore adequate product introduction is necessary in order to maintain the required level of inventory to meet the growing demand for homes.
We like the company’s initiative to constantly introduce new products. With frequent introduction of products, NVR will be able to capitalize on the improving markets. However, we would prefer to stay on the sidelines as the housing market is still in the recovery stage.
NVR Inc. carries a Zacks #3 Rank in the near term (Hold rating). We currently have a Neutral recommendation on NVR Inc.