NVR, Inc ( NVR ) recently opened its new Ravenna model home at Shawnee Crossing in Pickerington, Ohio. This single-family model home boasts a colonial design and is built on wooded and walk-out homesites of Shawnee Crossing. Ravenna is located in the reputed Pickerington School District. Home prices start from $190,000 onwards.
Built against a picturesque wooded backdrop, Ravenna includes 6 bedrooms and up to 4 baths. The home has a spacious family room with a formal living room and dining room. The eat-in kitchen has an optional island and a large pantry. The homeowner can also choose to add a breakfast bar and a gourmet island in their kitchen. The laundry is conveniently located in the second floor. The master bedroom features a walk-in closet, an optional soaking tub and a shower.
Like all other NVR homes, Ravenna comes with a 10 year structural warranty and is ENERGY STAR certified. The residents can enjoy the tranquil settings and at the same time enjoy easy access to community parks, stores, restaurants and commuting routes.
In a separate development, the company also introduced the Mozart model townhome at its Cinnaminson Harbour community in Cinnaminson, New Jersey. Home prices start from below $210,000. NVR had previously introduced similar single family homes in Springbrook at Regency at Highland Lakes in Westerville, Ohio, with prices starting from $190,000.
We like the company's initiative to constantly introduce new products. With the improvement in the housing market and rising house rents, more people are settling for home purchases. With frequent introduction of products, the company will be able to capitalize on the improving markets.
NVR Inc. carries a Zacks #2 Rank in the near term (Buy 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. 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.
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