NVR, Inc (NVR) unveiled two luxury model homes at The Overlook in Carriage Hill in Doylestown, Pennsylvania. The Overlook homes are located in the reputed Central Bucks School District. Home prices start from $310 million onward.
The Overlook includes luxurious garage townhomes and single family homes. The 3,400 sq. ft townhomes comprise 4 bedrooms and 4 1/2 baths. The single family homes consist of 5 bedrooms, 4 1/2 baths and provide 4,300 sq. ft of living space. The homes are well connected by Route 202, Route 611 and Route 313 and are located in close proximity to shops and restaurants.
All the NV homes come with a 10-year structural warranty and are ENERGY STAR certified. The homes offer luxury options like a furnished basement equipped with an optional recreation room, media room, partial or full porches and bath and wet bar.
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.
The company had previously introduced luxury single family homes in Lambertville, New Jersey. The Clifton Park model homes at Creekside Preserve are built on 2 to 16 acres of land in the Delaware River Valley. We like the company’s initiative to constantly introduce new products. Particularly, NVR’s recent introduction of luxury homes will enable the company to capitalize on the fast recovering luxury housing market. Also, these luxury homes are high priced products and will generate revenue and margin growth.
However, we would prefer to stay on the sidelines as the company generally offers homes in different price ranges to cater to different sections of the market. As a result, the company is still exposed to uneven recovery of the housing market.
NVR Inc. carries a Zacks #3 Rank in the near term (Hold rating). We currently have a Neutral 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. The company operates in 27 major cities in 15 states of the United States.
To read this article on Zacks.com click here.
Zacks Investment Research
