Condominium Buyers May Earn Up To 300%
Investment Return Before They Move In
Set amid the grandeur of Oakland Township's million dollar custom homes and country estates, soon-to-be-opened Oakmonte at Silvercreek condominiums offer unheard of value and an unprecedented opportunity for substantial investment appreciation in one of Southeast Michigan's most affluent communities.
Based on a 5 percent down payment and an average annual appreciation rate of 10 to 15 percent for real estate in Oakland Township, Oakmonte buyers may likely see a 300% return on their investment before their condominiums are ready to move into next year.
"As an investment, you couldn't do better on Wall Street," said Dominic J. Moceri, of Auburn Hills-based Moceri Companies, which is presenting Oakmonte Development LLC in conjunction with Bingham Farm's Burton Katzman. "And with today's low interest rates, Oakmonte is an even more compelling purchase."
Oakmonte, a $75 million development, offers maintenance-free condominium living in a village setting with the amenities of a private club. Given its features and exclusive surroundings, Oakmonte condominiums are being introduced from a remarkably affordable $149,990 to the $200's. Oakmonte's affordability is particularly attractive given the fact average new home prices in Oakland Township surged 34 percent from 1997 to 2000, according to data compiled by Realcomp II.
"Never before. Never again," Moceri said of the Oakmonte offer. "This is truly a once-in-a-lifetime opportunity for buyers."
With interest for Oakmonte rising, developers have scheduled an August 25, 2001 opening for pre-registered, interested buyers. During the opening event, purchasers may select their preferred location and plan style as well as lock in special pre-construction pricing. An information center is now open off Silverbell Road, just west of Adams Road for prospective buyers to register to purchase at the August 25 pre-opening program. Oakmonte opens to the public on August 26, 2001.
Oakmonte's value is especially relevant for prospective buyers now renting in Troy, Auburn Hills and Rochester where rents for an ordinary apartment of comparable size range between $1,200 and $2,000 a month. At Oakmonte, a $165,000 mortgage at 7.5 percent, coupled with income tax savings, means a buyer can start building equity for significantly less than the cost of renting.
Highlighted with sparkling ponds, nature preserves and a rolling terrain, Oakmonte residents will enjoy resort-class clubhouse facilities, a swimming pool, sundeck and spa, tennis court and sports court. Located just southwest of the intersection of Adams and Silverbell roads, Oakmonte features garden, terrace and carriage-level, two-bedroom condominiums of up to 1,525 square feet. Residences feature attached garages, central air, private patios or balconies, all appliances (microwave, oven/range, refrigerator with icemaker, and full-size washer and dryer), plush carpeting, cathedral ceilings and more. Oakmonte also provides easy access to championship golf, nearby shopping and restaurants in downtown Rochester and world-class sports and entertainment venues, including the Meadow Brook Theatre and The Palace of Auburn Hills.
"Whether they are first time buyers, or empty-nesters purchasing this as a seasonal second home, the reasons to buy at Oakmonte are unprecedented," Moceri said.
Because advance interest indicates there will be a very large turnout for the August 25 opening for preregistered buyers, Moceri quipped that "people should bring their sleeping bags and campers on the night of the 24th. I'll supply the marshmallows, chocolate and graham crackers."
Oakmonte opens as Moceri continues development at The Oaklands, its master-planned, luxury development of elegant single-family homes and condominium communities. For further information on Oakmonte, contact the Oakmonte At Silvercreek sales center at 248-373-8600.
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