We understand that as our community continues to cope with the COVID-19 outbreak, there is confusion about how real estate and homebuilding are affected. Below are some Frequently Asked Questions with answers to help you with your search for a new home.
Q. What is the status of Construction? Are you still able to build?
A. Yes, we are still building in our Williamson County communities (Wilson Trace, Three Points, Sauls Ranch, Larkspur, The Enclave at Leander Station) and at The Grove. In fact, we have more trades than ever in those locations due to the re-allocation of resources and other builders shutting down. As of now, we don’t foresee any delays, however, we will keep you posted.
Q. Isn’t there a possibility that prices will drop?
A. Because of the limited supply of inventory in the Austin area (less than 2 months compared to 4-5 months in normal markets), we are seeing stable prices right now. Milestone is still selling and we have approximately 10 inventory homes available over the next 3 months. Once this situation is resolved there will be a tremendous release of pent-up demand causing a price increase. Now is actually the time to get a good price.
Q. What are my options to talk to a Sales Counselor? Can I meet virtually? Can I still visit in person?
A. Yes, we are offering both options. We are taking “in-person” appointments between 12pm and 5pm every day in our sales offices, while strictly following CDC guidelines. Virtual appointments are a great alternative if you prefer to stay home. We can show you floor plans, maps, virtual tours, etc., in real-time. We are also happy to walk through a specific home via FaceTime (or similar app).
Q. What is going on with interest rates?
A. As of today (4/1), interest rates have dropped but it’s a day-to-day scenario. We have over $5,000 in Closing Costs when you use our lender (Mission Mortgage). You can also lock a rate now and there are options for rate buy-downs. Rates are still at historically low levels. FHA loans in 1991 were as high as 10.5%!
Q. Is warranty assistance still available?
A. Yes, we are servicing warranty requests that are critical to the enjoyment of your home.
We hope this helps address any concerns you might have. If you have more questions, please feel free to call us at 512-645-2145 or click here to have someone contact you.