Port St Lucie December 2022 Update on 55+ Communities
Port St Lucie has a wide range of 55+ active adult communities, established in the 1990’s to new construction developments with fabulous amenities and newer coastal, transitional and contemporary, plus Mediterranean styles. Following is a summary of the communities with their current status. Click on the titles for more information.
Builders do not have all their inventory on their websites. They send us regular updated lists though. They have homes under construction and usually list them for sale once they reach drywall stage, so there will be more options coming.
Builder Incentives
Most builders are offering creative financing options and savings that can be applied to closing costs, mortgage rate Temporary and Permanent Buydowns and FHA PMI Insurance. The temporary buydowns like 2 -1’s or 3 – 2 -1’s are great ways to save on the initial interest rates and they directly reduce the monthly payments. Another good point about these buydowns is that the money is set aside in escrow and paid as the month comes due. If the owner decides to refinance before the 2 or 3 years are up, he can use those remaining funds towards the refinancing cost.
In November the Interest rates of 7% were higher than normal given the Fed rate charged to the banks. The normal spread between the 10 year Treasury and the mortgage rate is about 1.7%, but at 7% it was 3%.
The Inflation rate decreased to 7.1% and so the average PMMS weekly survey Interest rate of 6.31% as of December 15th came down a bit even after the latest Fed rate hike of .50 basis points (1/2 %) on December 14th. Most experts anticipate a lowering of interest rates in the next 1-2 years, so by that time you will be able to re-finance. This is a window right now to take advantage of these savings and purchasing a home now.
Mortgage applications increased 3% over the previous week on the lowering of rates to 6.31%. Once interest rates go back into the 5+% range again, many other people will be back in the market looking for a home.
Pricing and incentives are subject to change. Generally, builders are offering their highest incentives on homes that are completed or nearing completion, or if they are closing out their last homes in a community. Some have higher incentives right now due to year-end timing. I have disclosed some incentive amounts below if they are listed on builder websites, I don’t list anything on my website that is not disclosed on the builder’s website, but I have further details on pricing and incentives.
This page is being updated with more communities. Let me know if you would like me to do a Walk Through for you in any of the communities or if you have any questions.
Some of you may also be interested in an ALL Ages community for new construction – view this page for General South Florida New Construction with an overall new construction IDX listings search, or this page for Port St Lucie new home communities not restricted to 55+ active adult .
New Construction Registration – New home communities and builders co-operate with Realtors (on commission fees) if the Realtor registers the customer first. The sales representatives represent the builder, if you would like me to represent you in the purchase of your new construction home, I need to go in with you on your first visit. These commission fees are included in all sales prices – if you go with or without a Realtor your purchase price is the same, they do not give you a discount for not having a realtor. They do not negotiate price with or without a Realtor.
View the Main 55+ Communities Page with all Subdivisions Listed
Veranda Preserve by Lennar
Builder Closeout of Final Homes – Veranda Preserve’s Initial Section includes 3 phases offering lalefront and preserve lots – they are now completing and selling their last 13 homes in Phase 3. Lennar builds an All Inclusive style home with upgrades that most other builders charge as extras. These are all inventory spec homes with all finishes already selected. All the final homes are under construction with completion dates from now until March 2023.
They are offering additional upgrades in these last homes including porcelain wood-look plank floor tile throughout, NO CARPET. They will also have blinds on all the windows and their Smart-Home Package has been enhanced.
Incentives: Lennar is offering $45,000 builder incentives on all their remaining homes which can be used in a combination of price reduction and financing incentives if you use their lender for temporary buydowns ( 2-1 or 3-2-1), permanent buydowns ( they currently offer a buydown to 4.99%) and/ or other closing costs.
Contact me for more information.
Esplanade at Tradition
Esplanade has inventory spec homes under construction in various stages in Phase 1. They have opened Phase 2 in the northeast quadrant and offer some lots to build a home with your own specs. They have also started some inventory homes in Phase 2 in the medium collection, although they are not priced or listed yet.
They broke ground on their Clubhouse in June which should be completed in about 1 year. They have a Social Director and activities at the Sales Center until the new club is completed.
Homes nearing completion on SW Ambra have had price reductions and 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 – $45,000+ (vary by Collection of Small Homes, Medium or Large homes). They currently have some small and large homes in inventory and are building some medium size homes in Phase 2 (but no pricing yet).
Contact me for more information on specific homes and incentives.
Valencia Walk – New Lot Release November 19, 2022 – 52 Lots,
- Valencia Walk – There were 3 lotteries in April, June and August, and the last release on October 7th was a lot release on a first come, first serve basis. Another 52 lots were released on November 19th – I am on Valencia’s email list and received their Notification regarding this new Lot Release, although the map and information were not updated on their website yet. The builder previously posted the maps showing the lottery lots, but have discontinued showing available lots onlilne. I have copies of available maps for all the sections.
- Valencia Walk Grand Opening of New Model Homes and Sales Office – December 3, 2022 – GL Homes closed their Valenca Cay Models and Sales office and opened new models at Valencia Walk. They also released a few more lots in each section.
CONTACT ME for full details including Valencia Walk Map with Lots and Prices, and the Reservation forms.
Del Webb Tradition
Del Webb has opened up their Phase 3 and are offering Incentives on their inventory Villas and Classic Series Homes that will be completed at various stages from current ready Move-ins through March 2023. They also have lots for sale to build your own home. They have reduced prices on some of their homes and are offering closing incentives
Contact me for Inventory list and discount incentives being offered.
Telaro at Tradition
Telaro has been completing their attached villas and single family homes in Phase 1 – they are at various stages of construction and have great upgrades chosen and included. Builders will be offering 20 new spec homes in Phase 2 in various price ranges.
Incentives: $20,000 available for financing and closing costs. These can change at any time.
A gorgeous Lotus Model is under construction on Telaro’s largest lot of 60′ x 130′ – 3 Bedroom, 3 car garage with 2,838 sf asking $878,100 with great upgrades and most the same as the model. Completion expected February to March 2023.
Mattamy Homes are building a temporary pool and recreation area on 2 lots as you come into the community until the main clubhouse is built. There is a Social Director to provide activities until the clubhouse is completed.
Verano at PGA
Verano has been building in several sections of the community. They have opened new models and sales office next to the pickleball courts and closed their initial models and sales office.
Villa homes are available in their final phase on Viterbo Way, single family homes are available on Felicita Way and Pepoli Way in their last phases. Kolter’s newest phase of 150 homes is located east of Apian Way. Lots that are still available in the existing sections will be built from the new models not the original ones.
Lots and inventory homes are listed and available to purchase, plus there are some inventory spec homes and villas in various sections of the community.
They will also be building a new golf country club called Astor Creek located west of Verano and Pepoli Way, that will start selling in late 2023. No further details are available right now.
