In the stock market, the convention wisdom is to “Buy low, sell high.” Investor Warren Buffet regards times of market trouble as times of tremendous opportunity.

And so it is with buying a new home. With the housing market hurting, great deals await.

Take the Carriage Homes at Ravine Woods in Channahon, a community of duplex homes by longtime builder Smykal Associates.

Four homes are available for near-immediate delivery. Two are model homes, with $60,000 in savings built right in.

“The big winners these days are buyers who don't have existing homes to sell,” said Peggy Taheri, Smykal’s vice president of sales and marketing. “Maybe they're first-time buyers, maybe they've sold their current home. Whatever their circumstances, they can combine low prices and low interest rates to get amazing deals.”

The Carriage Homes at Ravine Woods offers duplex plans, including two ranch plans of 1,586 square feet, and an 1,807-square-foot two-story plan with convenient first-floor master suite.

These homes are smaller, but still stylish, with plenty of amenities. One ranch plan offers two bedrooms, a den and two baths, and the other, three bedrooms with an optional den, and two baths. The two-story plan has three bedrooms, including the first-floor master suite, and 2 1/2 baths.

All homes have full basements plus attached, two-car garages. “Big garages and basements are important for empty-nesters who want to downsize but still need plenty of storage,” Taheri said.

And the wooded ravine that borders the community provides a beautiful environment in which to live.

Smykal is offering great deals on two of the model homes at the Carriage Homes at Ravine Woods, both variations on the two-story Edgewood plan. Both include professional interior decorating and landscaping, plus wall coverings and window treatments.

• The Edgewood C is now priced at $227,170 and includes three bedrooms, a great room, a full, lookout, deep-dig basement with rough plumbing for a future full bath and plenty of upgrades, such as doors and trim, carpeting and padding, light fixtures and central air conditioning. The delivery date will be agreed upon with the buyer.

• The Edgewood B is now priced at $265,884. This model home includes hardwood floors in the foyer, great room, dining room, kitchen and laundry room; granite countertops and upgraded cabinets and appliances in the kitchen; a raised ceiling and fireplace in the great room; a deluxe master suite with whirlpool soaking tub, separate shower and double vanity; full lookout basement with rough plumbing for a future bath; central air conditioning; and upgraded interior furnishings. The home is available immediately.

Also available now are two homes built with those in a position to purchase quickly in mind. These two-story Edgewood homes have three bedrooms, a great room, 2 1/2 baths and hardwood floors throughout much of the first floor. Each home includes a partial brick front and a full basement. The homes are priced at $239,490 and $239,999.

“It takes several months to build a home. We can help those who just can’t wait that long,” Taheri said.

To reach the Carriage Homes, take Interstate 55 (the Stevenson Expressway) to U.S. Route 6 west three miles to the furnished models. For more information call 815-467-5002.