One of the leading home building and mortgage banking companies in the United States, NVR, Inc (NVR - Free Report) unveiled the new Oberlin Terrace model home in Ashburn, Virginia. The single family model home is located at The Meadows, one of the latest luxury communities in the Loudoun Country School District. Home prices start from $570,000 onward.
Oberlin Terrace is set against rolling hills and open space adjacent to the Route 50 corridor. The Quail Ridge Lake is also located nearby.
The interiors of Oberlin Terrace homes comprise a formal living and dining room featuring columns. The waterfall staircase leads to the living space. The home accommodates a study and a spacious family room. The kitchen includes a large island, walk in pantry and a breakfast bar. The laundry room is located at the second level. The bedrooms have large closets and a hall bath with optional dual bowl vanity. The owner’s bedroom comprises a walk-in closet, and a separate tub and shower. The owners will have the option of a finished basement with media room and a full bath. Oberlin Terrace offers 4 bedrooms and 2 baths.
Oberlin Terrace model 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 rising demand for new homes has led to a favorable situation in the housing market, where inventory levels are dropping and prices are moving upward. The demand is particularly high for luxury homes. 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 and the rest of the macroeconomic parameters are showing slow growth trajectory.
A peer of PulteGroup Inc. (PHM - Free Report) , NVR Inc. carries a Zacks #3 Rank that translates into a short-term ‘Hold’ rating. Longer-term, we are maintaining our Neutral recommendation on NVR Inc.