Villa Valencia Offers New San Jose Condos That May Be Cheaper Than Rent

April 1, 2009 - PRLog -- SAN JOSE, CA -- Luxurious condominium and townhome community Villa Valencia recently announced that by taking advantage of the San Jose Down Payment Assistance Program, many renters are finding that it is cheaper to buy than rent in the San Jose real estate market. With the new financial assistance program, qualified homebuyers enjoy 20 percent down payments provided by the City of San Jose on new home purchases, although income restrictions and other conditions may apply. Only a few weeks remain for qualified homeowners to take advantage of the Down Payment Assistance Program. Full program details can be reviewed at http://www.sjhousing.org/downloads/VillaValencia.pdf.

Through this unique offer, eligible homebuyers can now own a beautiful new condominium or townhome at Villa Valencia with payments less than $1,000 per month on a 30-year fixed mortgage, based on a 20 percent down payment and an interest rate of 5.125%. Rent in the coveted San Jose area is approximately $1,500 to $1,800 per month, making purchasing at Villa Valencia a cost-effective housing solution. For a limited time, Villa Valencia is able to extend City assistance loans of up to $60,000 to each income-eligible, qualified homebuyer. The remainder of the purchase price can be financed through a private lender, other programs, and existing household funds.

"Through the offering of 20 percent down with the San Jose Down Payment Assistance Program, we are confident that many homebuyers will take advantage of the unbelievable savings at Villa Valencia. Additionally, with the federal and state tax credits and tax advantages currently available, many renters are finding that buying a San Jose condo at Villa Valencia is more cost effective than ever before," says Joanne Leeke, Community Sales Manager of Villa Valencia (http://www.liveatvillavalencia.com)

Villa Valencia is a premier community located near Santana Row, the vibrant center of San Jose's nightlife, featuring popular restaurants, theater, as well as upscale shopping and spa services. With the lowest priced new construction in the city, Villa Valencia offers one and two bedroom condominiums and townhomes starting from $229,000. Each luxurious unit at Villa Valencia comes standard with granite countertops, contemporary appliances, maple or cherry cabinets, up to two balconies as well as a one-car parking space in the gated underground garage. All two-bedroom units also feature a convenient interior laundry area. Many homes at Villa Valencia provide spectacular mountain views, as well as breathtaking views of the valley from select upper level units.

"Homebuyers are often surprised to find they can own a beautiful Villa Valencia unit for much less than they are paying in rent. Villa Valencia's unbelievable prices combined with the available limited time financial assistance programs, low interest rates, and tax credits offer a great opportunity for buyers who move quickly," says Leeke.

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About the Reiser Group: The Reiser Group (http://www.reisergroup.com/) is a leading sales and marketing agency to residential property developers and specializes in new home sales throughout California and Nevada. They are committed to providing customers with the best service when purchasing a new home. The company has a network of mortgage brokers and title companies to make purchasing a home in the San Jose real estate market as simple as possible.