Port St Lucie boasts an extensive selection of 55+ Active Adult Communities, ranging from established neighborhoods built in the 1990s to newer developments with fantastic amenities and modern architectural styles like coastal, transitional, contemporary, and Mediterranean. Here’s a summary of each community’s current status, and clicking on the titles will provide more detailed information.
However, it’s worth noting that not all builders list their entire inventory on their websites. They regularly update us with new lists, as they often have homes under construction that aren’t listed for sale until they reach the drywall stage. This means that there will be more options available in the near future.
Builder Incentives
Builders are currently offering attractive financing options and discounts that can be applied to closing costs, mortgage rates, and even temporary and permanent buydowns, as well as FHA PMI insurance. Temporary buydowns, such as 2-1’s or 3-2-1’s, are particularly effective in reducing initial interest rates and lowering monthly payments. Additionally, the money is held in escrow and paid as each month comes due. If the owner chooses to refinance before the 2 or 3 years are up, the remaining funds can be used towards the refinancing cost.
In November, interest rates were higher than usual at 7%, due to the Fed rate charged to banks. Typically, the spread between the 10-year Treasury and the mortgage rate is around 1.7%, but at 7%, it was 3%. However, the inflation rate decreased to 7.1%, resulting in a slight drop in the average PMMS weekly survey interest rate to 6.31% as of December 15th, even after the latest Fed rate hike of 0.50 basis points (0.5%) on December 14th. Most experts predict that interest rates will decrease in the next 1-2 years, making it possible to refinance at a lower rate. Right now, there is an opportunity to take advantage of these savings and purchase a home.
Due to the decrease in interest rates to 6.31%, mortgage applications have increased by 3% compared to the previous week. However, as interest rates eventually rise back to 5% or higher, more people will likely re-enter the market in search of a home.
It’s important to note that pricing and incentives offered by builders are subject to change. Typically, builders offer their highest incentives on homes that are already completed or close to completion, as well as on the last remaining homes in a community. Some builders may also offer higher incentives due to year-end timing. If incentive amounts are listed on builder websites, I provide this information on my website. However, I only disclose information that is publicly available.
For those interested in 55+ active adult communities, there is a dedicated page on my website that features new construction options. Additionally, visitors can use the IDX listings search function to browse all new construction options in the South Florida area.
Veranda Preserve by Lennar
Veranda Preserve’s initial section comprises three phases that include lakefront and preserve lots. Currently, the last 13 homes in Phase 3 are under construction and being sold in a builder closeout sale. Lennar is known for building all-inclusive style homes with upgrades that are typically charged as extras by other builders. These are all inventory spec homes with all finishes already selected.
As part of their final home offerings, Lennar is providing additional upgrades, such as porcelain wood-look plank floor tile throughout (with no carpet) and blinds on all windows. The Smart-Home Package has also been enhanced to provide greater convenience and comfort for homeowners.
In terms of incentives, Lennar is offering $45,000 in builder incentives on all their remaining homes, which can be used in a combination of price reduction and financing incentives if their lender is used for temporary buydowns (2-1 or 3-2-1), permanent buydowns (with a current rate of 4.99%), and/or other closing costs.
Contact me for more information.
Esplanade at Tradition
Esplanade is currently constructing inventory spec homes in various stages in Phase 1. Phase 2 has also been opened in the northeast quadrant, with some lots available to build homes to personal specifications. Additionally, the medium collection of inventory homes in Phase 2 has already begun construction, though they have not yet been priced or listed.
The construction of the Clubhouse began in June and is set to be completed in approximately one year. In the meantime, the Sales Center has a Social Director and a range of activities for visitors to enjoy.
As for homes nearing completion, those located on SW Ambra have seen price reductions. Builders are also offering creative financing options and savings that can be applied to closing costs, FHA PMI Insurance, and Temporary and Permanent Buydowns ranging from $30,000 to $45,000+ (variations by the Collection of Small Homes, Medium or Large homes). Moreover, they have some small and large homes in inventory and are constructing medium-sized homes in Phase 2, though no pricing information is available yet.
Esplanade’s community offers various resort-style amenities such as golf courses, tennis courts, swimming pools, fitness centers, and much more. These amenities can provide a high-quality lifestyle and make the community an ideal location for those who seek both comfort and entertainment.
Valencia Walk – New Lot Release November 19, 2022 – 52 Lots,
Valencia Walk has seen a high demand for its available lots, with three lotteries taking place in April, June, and August. The latest lot release on October 7th was on a first come, first serve basis. Another 52 lots were released on November 19th, although the map and information were not yet updated on the website. As an email subscriber to Valencia, I received notification of the new lot release, and I have copies of the available maps for all the sections. However, the builder has discontinued showing available lots online.
Moreover, GL Homes closed the Valencia Cay Models and Sales office and opened new models at Valencia Walk on December 3, 2022. This grand opening event offered visitors a chance to see the new models and purchase some of the newly released lots in each section. The event was an excellent opportunity for those interested in purchasing a home in Valencia Walk to explore the community, amenities, and new model homes.
Del Webb Tradition
Del Webb has opened up their Phase 3 and is currently offering incentives on their inventory Villas and Classic Series Homes. These homes will be completed at various stages from immediate move-ins to March 2023. Additionally, Del Webb has lots for sale for those who prefer to build their own home according to their personal specifications. In order to attract buyers, they have also reduced prices on some of their homes and are offering closing incentives.
Del Webb communities are designed for active adults who want to live in a resort-style environment. The 55+ Active Adult Communities offers a range of amenities such as clubhouses, pools, fitness centers, and more. It is an excellent place for those who want to enjoy their golden years with peace of mind and without the hassle of home maintenance. Del Webb communities have a range of home options, including single-family homes, attached villas, and condominiums, all of which are built with the active adult lifestyle in mind.
Telaro at Tradition
Telaro is making great progress on Phase 1 of their attached villas and single family homes. Each unit is being constructed with attention to detail and carefully selected upgrades. As a potential buyer, you’ll have the opportunity to choose from a variety of units at different stages of construction, ensuring you find the perfect fit for your needs and budget.
Looking ahead to Phase 2, Telaro is excited to announce the release of 20 new spec homes, which will be available in a range of prices to suit various budgets. With a wide selection of homes to choose from, you’re sure to find the perfect match for your lifestyle.
To make the home buying process even more accessible, Telaro is offering an incentive of $20,000 towards financing and closing costs. However, it’s important to note that incentives can change at any time, so act fast to take advantage of this great offer.
Telaro’s latest development is the stunning Lotus Model, currently under construction on their largest lot, measuring an impressive 60′ x 130′. Boasting three bedrooms, a three-car garage, and 2,838 square feet of living space, this spacious home is perfect for families looking for room to grow. It’s priced at $878,100 and comes equipped with fantastic upgrades, many of which are the same as the model.
Expected to be completed by February to March of 2023, the Lotus Model is sure to impress. With a large lot and ample living space, you’ll have plenty of room to stretch out and relax in your new home.
Mattamy Homes, the builder behind Telaro, is committed to providing residents with top-notch amenities. As such, they are constructing a temporary pool and recreation area on two lots at the entrance of the community. This space will serve as a gathering place for residents until the main clubhouse is completed.
To ensure a sense of community and engagement, Telaro has also hired a Social Director to provide activities for residents until the clubhouse is ready. This means you’ll have plenty of opportunities to connect with your neighbors and make new friends in your new community.
Verano at PGA
Verano is a 55+ Active Adult Communities that has been experiencing significant growth and development. The builder, Verano, has been working on several sections of the community, and they recently opened a new sales office and models next to the pickleball courts. As a result, they have closed their initial models and sales office.
If you’re in the market for a villa or single-family home, Verano has several options available. The final phase of villa homes is located on Viterbo Way, while single-family homes are available on Felicita Way and Pepoli Way in their last phases. Additionally, Kolter has unveiled their newest phase of 150 homes located east of Apian Way. It’s important to note that lots that are still available in the existing sections will be built from the new models, not the original ones.
For those who are ready to move in quickly, Verano has a selection of inventory homes and spec homes available for purchase. Additionally, there are still some lots available in various sections of the community.
Excitingly, Verano is planning to build a new golf country club called Astor Creek, which will be located west of Verano and Pepoli Way. The project is set to start selling in late 2023, though further details are not yet available. Please Contact Us 55+ Active Adult Communities.
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