South Hampton Roads most prestigious builders are rolling out the red carpet for prospective buyers during The TowneBank New Home Tour presented by Tidewater Builders Association. The event features over 70 homes, plus 14 new home communities throughout the area.

It’s a great time to buy a new home. Special pricing and other incentives will be available during the tour on two consecutive weekends, Saturday and Sunday, August 4 and 5 and 11 and 12.

The homes are located throughout South Hampton Roads – from the Virginia Beach oceanfront to Ivor -- and at prices ranging from under $300,000 to over $1 million.

Tour homes and directions are in the August New Home magazine available at local Farm Fresh grocery stores. Detailed information and video tours are also available online at www.newhome.tv.

"This is a chance for consumers who may have been thinking about a new construction home to educate themselves on the products that are available in today’s market," says John Ainslie, President of Tidewater Builders Association.

"New homes offer modern floor plans, more energy efficiency and lower maintenance," adds Ainslie. "There is also a larger variety of lifestyle options, from condominium communities to single family estates – from equestrian communities to active-adult communities."

With lenders on hand at many of the tour stops, the event also offers a chance for consumers to learn about mortgage products.

"Today’s rates are very attractive There are a variety of mortgage programs available to make the dream of a new home very affordable," says event sponsor TowneBank CEO Bob Aston.

Some of the incentives available to consumers who purchase a tour home include Internet, cable and phone services from Cox Communications, a $500 gift certificate to Grand Furniture, a $500 gift card toward a home theater from Home Theaters by DAS, a one-year subscription to The Virginian-Pilot, a $100 shopping card from Farm Fresh and pest control services from Universal Pest Control.

The tour is being coordinated by Tidewater Builders Association and is sponsored by TowneBank, TowneBank Mortgage, National City Mortgage, Stewart Title Guaranty Company, Tidewater Home Funding, William E. Wood & Associates, James Hardie, Dominion Virginia Power and Virginia Natural Gas, Cox Communications and the Virginian-Pilot.