McKee Homes Building in Liberty Hill

McKee Homes is now building in Liberty Hill—a new community just north of downtown Fayetteville behind King’s Grant subdivision. McKee Homes also hosted the 2013 Fayetteville Area Walk to End Alzheimer’s in this new community on September 7 of this year.

2013 walk to end alzheimer's

Liberty Hill is an exciting new neighborhood nestled in the plush and established Kings Grant subdivision! Located just north of Fayetteville near the I-295 connector, 15 minutes from Ft Bragg, and 5 minutes from Methodist University, Liberty Hill is a family friendly neighborhood with convenience to eateries and shopping!

McKee Homes River Glen floor plans include Beaufort, Biltmore, Brooks, Carter, Clark, Finley, Lily, Nelson, Potter, Riddick, and Sanborne.

Price Range:
$230’s to $280’s

Sq. Ft. Range:
2,000-3,500 Sq. Ft.

Schools:
Howard Elementary School
Pine Forest Middle School
Pine Forest Senior High<

Utilities:
Public Works
South River Electric
Piedmont Natural Gas

Location:
Liberty Hill is located near North Ramsey Street and I-295. Take Shawcroft Road from North Ramsey Street approximately 1.3 miles and turn right onto Williwood Road. Go approximately 400 feet and turn right on McCoy Cross into Liberty Hill

liberty hill

Buy a New Home While Interest Rates Are Still Low

Interest rates spiked in June from fear that the Fed would back off on stimulus program.[/caption]

While some homeowners are refinancing their existing mortgage to get a better rate and lower their monthly payment, there are many homeowners and renters that are shopping for new homes. With the overall inventory of available houses still tight, it makes sense to buy a new home as the initial cost is about the same as a pre-owned home but there is a large savings in energy bills and maintenance. In addition, homebuyers can often get the features they want in a new home without having to spend their weekends, remodeling a pre-owned home that they just purchased.

A typical family of four will spend over $4,000 a year on utilities and over $3,000 a year on maintenance for a 15 year old 2,500 sq. ft. home. With an energy efficient new home, the utility cost will be around $3,000 a year and maintenance costs are almost zero. That results in a savings of over $4,000 a year with the additional benefit of having more time on weekends to do something other than home maintenance.

In addition to being more energy efficient, new homes generally have more bathroom space, larger closets, higher ceilings, efficient kitchen design, and more storage space. Home buyers that are looking for communities with amenities such as swimming pool, clubhouse, golf course and walking trails, will also benefit from buying in a new modern community where the amenities are newer, well designed and maintained.

McKee Homes builds beautiful open floor plan homes in desirable neighborhoods in the Fort Bragg and Fayetteville, NC areas. Large open kitchens with granite counters and hardwood flooring, plenty of storage space, mud rooms, bonus rooms and finished third floors are just a few of the features offered to families looking to get the most bang for their buck.

Our neighborhoods are family-friendly and all within a short drive to Fort Bragg. We have two communities in Anderson Creek Club offering amenities such as golf, swimming, and tennis. The Cottages at North Ramsey, in one of the best location in Fayetteville/Fort Bragg, offers detached townhome style cottages with exterior maintenance and lawn maintenance included which are ideal for busy professionals, military families, and retirees.

The McKee Homes website has detailed information about our neighborhoods, floor plans, and available properties. If you have any questions, you can start a live chat with one of our agents right on the website, or just give us a call at 910-672-7296. We’ll be happy to help you find the perfect home in the best neighborhood for your family.

Buy a New Home and Get Exactly What You Want

With the recent rise in mortgage interest rates, many home buyers are ready to get off the fence and make a purchase before the rates go up even further. The biggest problem facing home buyers in the current market is low inventory of homes for sale. With a large number of buyers competing for a limited number of homes for sale, it can be difficult to find a home in a desirable neighborhood and buy at a good price.

There are still many home owners who would like to sell their homes but are waiting to see if the prices will continue to rise, or are still upside down on their mortgages and can’t sell until the prices go up considerably. This is keeping the inventory of homes for sale very low and making it difficult for home buyers to find a good home to buy.

Fortunately there is an option that is a win-win for home buyers. It can cost the same or less to buy a brand new home in the current real estate market as it would to buy a pre-owned home. One of the advantages of buying a new home as opposed to a pre-owned home is that you can purchase the home before it is completed, which can give you the option of customizing the finishes to get exactly what you want instead of having to settle for something that’s isn’t exactly what you were looking for. With most previously owned homes, the home buyer will have to spend additional money after they buy the home to change paint colors, wallpaper, and other finished to get the house they way they want it. New homes also come with a full warranty which you generally don’t get with an pre-owned home.

kitchen with granite counters and hardwood laminate flooring

Another advantage of buying a new home is that they are much more energy efficient than pre-owned homes, the appliances are brand new, and the economic life of the house is longer. The new building codes offer up to 15% better energy savings than homes built in previous years.

McKee Homes builds beautiful open floor plan homes in desirable neighborhoods in the Fort Bragg and Fayetteville, NC areas and gives home buyers more house for less money. Large open kitchens with granite counters and hardwood laminate flooring, plenty of storage space, mud rooms, bonus rooms and finished third floors are just a few of the features offered to families looking to get the most bang for their buck. Our neighborhoods are family-friendly and all within a short drive to Fort Bragg. We also offer detached townhome style cottages with exterior maintenance and lawn maintenance included which are ideal for busy professionals, military families, and retirees.

Customizing

McKee Homes offers presale agreements for customers who want to select options for their new home such as floor coverings, counter tops, paint color and other available options.  McKee Homes will work with you to make sure you are getting the new home that meets your family’s needs.

Neighborhoods

McKee Homes offers homes in some of the best neighborhoods in the Fort Bragg and Fayetteville, NC area including The Cottages at North Ramsey, Forest Hills Pointe, James Creek South, Oakmont, Patriot Park Village, River Glen, Sinclair, and The Cottages at Carriage Creek and Valley Stream in Anderson Creek Club.

Financing

McKee Homes’ preferred lender is Caliber Home Loans. Caliber Home Loans provides excellent home financing services, competitive pricing, local processing and local decision making. McKee Homes has partnered with Caliber Home Loans in order to offer our customers priority treatment through the dedicated Caliber Home Loans team. Priority treatment means lower rates, lower closing costs, and faster close times. Caliber Home Loans offers VA loans, USDA loans, FHA loans, conventional, fixed rate, and adjustable rate loans. There are also no-money-down options for qualifying VA and USDA loans.

The McKee Homes website has detailed information about our neighborhoods, floor plans, and available homes. If you have any questions, you can start a live chat with one of our agents right on the website or just give us a call at 910-672-7296. We’ll be happy to help you find the perfect home in the best neighborhood for your family.

July Showcase of Homes

This month’s featured neighborhood!

The Cottages at North Ramsey120 Nandina Ct, Fayetteville, NC

Saturday, July 20: 11:00 am — 6:00 pm

Sunday, July 21: 1:00 pm — 6:00 pm

Come see our beautifully staged model home and tour the neighborhood to see available homes and properties.

The Cottages at North Ramsey are located at Nandina Court and North Ramsey St., approximately 7 miles north of downtown Fayetteville near I-295.

The Cottages at North Ramsey

View The Cottages at North Ramsey in a larger map

McKee Homes Now Building in River Glen

By John Rives

McKee Homes is now building in River Glen—a new community just north of downtown Fayetteville between Bus. 95 and I-295 off of River Road.

River Glen

Nestled in a country setting, River Glen is just minutes away from downtown Fayetteville, Fort Bragg Army Base/Pope Army Air Field, I-95, I-295 and Business 95. Relocate to River Glen for quiet family-friendly living featuring our newest and most popular floor plans just minutes to fine dining in downtown Fayetteville, and only 20 minutes to Ft. Bragg and shopping at Cross Creek Mall.

McKee Homes River Glen floor plans include Biltmore, Brooks, Clark, Daniels, Finley, Nelson, Potter and Sanborne.

Price Range:
$170’s to $250’s

Sq. Ft. Range:
1,500-3,000 Sq. Ft.

Schools:
Armstrong Elementary School
Mac Williams Middle School
Cape Fear High School

Utilities:
Electric – Public Works
Water – Public Works
Sewer – Public Works
Gas – Piedmont Natural Gas

Location:
From downtown Fayetteville, head east on Grove St. Turn left onto Dunn Rd and go 0.3 miles. Turn left onto Middle Rd and go 0.9 miles. Turn left onto River Rd and go 1.8 miles. Turn left onto Birchmere Way. From I-295, take the River Rd exit. Head south on River Rd and go 4.4 miles. Turn right onto Birchmere Way.

map of River Glen

Home Mortgage Interest Rates Going Up

Home sales have been going up for the last two years and are expected to rise as much as 9% in 2013. This would surpass the 5 million mark, which hasn’t happened since 2007, before the housing bubble burst. Home prices are also on the rise, up 12% from last year according to CoreLogic, an Irvine, Calif. based data firm.

interest rates going up

One of the factors fueling the resurgence of the housing market has been historically low interest rates, due in part to the Federal Reserve’s $85 billion-per-month bond buying program. With the announcement by Federal Reserve Chairman, Ben Bernanke, that the central bank would be winding down the program later this year, and possibly ending it altogether by mid-2014, we have seen a dramatic increase in home mortgage interest rates over the last couple weeks.

According to Freddie Mac, the jump to 4.46% interest on a 30-year fixed rate mortgage is the largest weekly increase in 26 years. The recent increases in mortgage interest rates have caused many on-the-fence home buyers to lock in their rates before they rise further.

For anyone that has been waiting to buy a house thinking the low prices and interest rates would last, now is the time to act, as even a one percentage point increase in the interest rates can dramatically lower the amount of money a borrower can spend on a home.

For example, say you need to keep your monthly house payment at $1,000. With the interest rate at 3.5%, if you can borrow approximately $220,000, a one percentage point rise to 4.5%, would only allow you to borrow around $197,000 to keep your monthly payment at $1,000/mo. If the interest rate goes up to 5.5%, you would only be able to borrow approximately $176,000. These figures are only approximate, and the amount of a home mortgage will be determined by additional factors such as credit rating, but even a one percentage point rise in the interest rate makes a large difference in the amount of money you can borrow for a set monthly payment. Bear in mind that you will also need to add your home insurance and property taxes into the equation. Use the McKee Homes mortgage calculator to get an idea of what your total monthly payments would be for a traditional loan.

If you are in the market for a new home in the Fayetteville NC area, please visit the McKee Homes website to view our Fayetteville and Fort Bragg new homes. McKee Homes offers such a great value for your money, you may find that you can buy a brand new home for the same amount or less than a pre-owned home. McKee Homes also works with a dedicated financial team to get you the lowest interest rate new home financing available with no-money-down options for VA and USDA loans.

Monthly
Payment

Max Loan at
3.5%

Max Loan at
4.5%

Max Loan at
5.5%

$900

$200,000

$177,000

$159,000

$1,000

$222,000

$197,000

$176,000

$1,200

$266,000

$237,000

$211,000

$1,500

$334,000

$296,000

$265,000

The data shown in this table is only approximate and is based on 30 yr loan with good credit rating.

 

Seller’s Market Developing

soldReal estate has been a buyer’s market for the last five years or more, but that may soon be changing.

The National Association of Realtors reported recently that a seller’s market is developing and home prices continue to rise steadily above year-ago levels. According to a recent report by the Wall Street Journal, there are only 1.71 million homes listed for sale in January 2013 compared to 2.91 million homes on the market two years ago.

The upshot is that there’s a growing pool of buyers chasing a shrinking supply of homes. If the trend holds, prices will keep going up. At the current pace of sales, it would take just 4.2 months to sell the current supply of homes available for sale, down from a 6.2 months’ supply one year ago.

A report from CoreLogic late last year shows nationwide housing prices increased by 6.3 percent from October 2011 to October 2012, the largest increase since June 2006. This data includes the prices of distressed homes, which makes it even more impressive.

In a recent report from Barclays Capital, housing prices are predicted to return to peak levels as early as 2015 after falling more than a third in what Stephen Kim, an analyst with Barclays, referred to as “… a dramatic over-correction during the prior five years …”

With investors buying up properties that are selling for less than their replacement cost, home sales could rise to 5.2 million units this year, an increase of nearly 12% from last year, according to economists at Goldman Sachs.

The combination of factors which include housing prices rising, low inventory, and record low interest rates have fueled an increase in buyers looking to take advantage of current conditions. Many investors and home buyers believe that now is the best time to buy a new home. The Mortgage Bankers Association forecasts that home sales will increase and expect new-home loans for purchases to jump 55%, based in dollars, in 2013.

Many home buyers now realize that the time to get the best deal on a new home is quickly coming to an end and the biggest problem could be lack of inventory and choice. If this trend continues, we will see a seller’s market developing in the near future.

Home Prices on the Rise

It looks as if 2013 will be a good year for the real estate market as housing prices continue to rise.

Recent reports from CoreLogic show nationwide housing prices increased by 6.3 percent from October 2011 to October 2012, the largest year-over-year increase since June 2006. This data includes the prices of distressed homes, which makes it even more impressive as these homes are usually sold below market value.

In a recent report from Barclays Capital, housing prices are predicted to return to peak levels as early as 2015 after falling more than a third in what Stephen Kim, an analyst with Barclays, referred to as “… a dramatic over-correction during the prior five years …”

According to The Wall Street Journal, J.P. Morgan Chase & Co. expects U.S. home prices to rise 3.4% in its base-case estimate and up to 9.7% in its most bullish scenario of economic growth. Standard & Poor’s, which rates private-issue mortgage bonds, expects a 5% rise in 2013.

CNN Money reports that real estate research firm Fiserv’s chief economist David Stiff predicts that prices should increase 3.4% from the second quarter of 2013 to the second quarter of 2014.

Other factors that may be contributing to the rise in housing prices are inventory of houses for sale are at their lowest level in over 10 years and mortgage interest rates are at an all-time low. According to Calculated Risk, HousingTracker reported that the early December listings, for the 54 metro areas, declined 21.7% from the same period last year. Investors.com reports the average rate of a 30-year loan is under 3.3% and the average rate of a 15-year fixed mortgage is now under 2.7%. These rates are at, or below, the lowest rates on record.

The combination of factors which include housing prices rising, low inventory, and record low interest rates have fueled an increase in buyers looking to take advantage of current conditions. Many investors and home buyers believe that now is the best time to buy a new home. The Mortgage Bankers Association forecasts that home sales will increase and expect new-home loans for purchases to jump 55%, based in dollars, in 2013.

With the rise of housing prices in most of the country and the continued improvement in the real estate market, the overall economy should become stronger and continue to rebound in the coming years.

New Home Starts and Prices Going Up

With housing starts the highest they have been in four years, home prices on the rise, and foreclosures at a five-year low, it looks like the housing market is making a sustained recovery, and some are predicting another housing boom within the next few years.

According to CNNMoney, A New Housing Boom (Oct. 12, 2012), many economists believe the housing recovery will produce only slow and modest improvement in home prices, new construction and jobs, however Barclays Capital put out a report recently forecasting that home prices, which fell by more than a third after the housing bubble burst in 2007,  are expected to rise by 5% to 7.5% a year and could be back to peak levels as soon as 2015.

“In our view, the housing market had undergone a dramatic over-correction during the prior five years, resulting in pent-up demand for housing purchases that would spark a rapid rise in housing starts,” said Stephen Kim, an analyst with Barclays, in a note to clients.

Numerous experts are forecasting home construction to grow by at least 20% a year for each of the next two years. Some believe building could be back near the pre-bubble average of approximately 1.5 million new homes a year by 2016, about double the 750,000 homes expected this year.

“We think the recovery is for real this time around,” said Rick Palacios, senior analyst with John Burns Real Estate Consulting. “If you look across the U.S. economy right now, there are only a handful of industries looking at 20-30% growth over the next 4-5 years, and housing is one of those.”

 

Whether the housing market makes a slow steady recovery or ramps up to another housing boom within a few years, it certainly appears that home prices are on the rise. With mortgage rates at a record low, and home prices likely to rise in the near future, this is an ideal time for anyone thinking of buying a new home to make that purchase and lock-in a low interest rate while getting the best price on a new home.

Now Is the Time to Buy a New Home

If you’ve been waiting to buy a new home thinking that the interest rates and new home prices will continue to stay as low as they are, or go even lower, you may miss out on the opportunity to get the best deal before they start going back up.

According to Bloomberg, House prices, after falling for more than five years, are rising again. All the major sales-price indexes show that there have been modest national increases in recent months, even after adjusting for seasonal patterns.

The San Francisco Business Times reports that Luxury home values in the Bay Area and other key California cities are chalking up their biggest gains since the housing boom went bust in the last decade. Bay Area luxury home values soared 6.6 percent in the second quarter, the biggest year-over-year gain since the first quarter of 2006.

Other major cities are seeing similar trends, and Forbes reports that according to CoreLogic’s August MarketPulse Report which provides insight into the current and future health of the U.S. economy with emphasis on housing and mortgage metrics, “While the general U.S. economy continues to struggle to make gains, for the first time since the end of the recession, housing may actually make a significant contribution to economic growth in 2012, a welcome change to affairs for an otherwise struggling economy.”

The cost of buying a new home is not completely dependent on the cost of the home itself but is also determined by the amount and interest rate of the home mortgage. Every percentage point the interest rate goes up could cost a home buyer hundreds of dollars more each month on their mortgage payment, or lower the amount that they can afford to borrow to keep their monthly payment where it needs to be.

For example, say you need to keep your monthly house payment at $1,000 or less. With the interest rate at 3.5%, if you can borrow approximately $220,000, a one percentage point rise to 4.5%, would only allow you to borrow around $177,000 to keep your monthly payment at $1,000/mo. If the interest rate goes up to 5.5%, you would only be able to borrow approximately $159,000. These figures are only approximate, and the amount of a home mortgage will be determined by additional factors such as credit rating, but even a one percentage point rise in the interest rate makes a large difference in the amount of money you can borrow for a set monthly payment.

If you are in the market for a new home in the Fayetteville NC area, please visit the McKee Homes website to view our Fayetteville new homes as well as our Fort Bragg new homes. McKee Homes offers such a great value for your money, you may find that you can buy a brand new home for the same amount or less than a pre-owned home. McKee Homes also works with a dedicated preferred lender team to get you the lowest interest rate new home financing available with no-money-down options for VA and USDA loans.

Monthly Payment

Max Loan at 3.5%

Max Loan at 4.5%

Max Loan at 5.5%

$900

$200,000

$177,000

$159,000

$1,000

$222,000

$197,000

$176,000

$1,200

$266,000

$237,000

$211,000

$1,500

$334,000

$296,000

$265,000

The data shown in this table is only approximate and is based on 30 yr loan with good credit rating.