“There is no guarantee that all of these incentives, such as financing, tax credits and low pricing, will last,” said Valerie Goudie, Executive Vice President of Sales and Marketing, California Coastal Division. “More and more people are realizing how great these offers are and are taking full advantage. They realize it’s a ‘now or never’ type of situation—snooze, and you may just lose.”
More than a third of the $100 million allocated for new home tax credits**‡ offered to California residents has been claimed and the federal tax credit††‡ worth up to $8,000 for first-time homebuyers has only been approved until the end of the year.
Since the announcement of these two substantial government tax credits for homebuyers, sales on new homes have spiked. Real estate experts report a year over year and month over month increase in sales, indicating a possible leveling off on home prices.
In addition, Universal American Mortgage Company, Lennar’s preferred lender, introduced in April the company’s lowest interest rate in history, offering homebuyers the most savings possible. Purchasing a home at such a reduced interest rate allows homebuyers to finance a brand new home at the same competitive rate as other resale homes currently on the market while offering homebuyers, move-in ready brand new homes with some of the most desired upgrades.
“Sales are on the rise as home shoppers realize this is a wonderful buyer’s market that won’t be here forever,” said Goudie. “As one of the country’s top homebuilders, we’re doing everything we can to help buyers take advantage of these offers and feel secure in their purchase.”
Lennar offers diversity in Orange County with homes priced from the upper $300,000’s to over $1 million and designed to appeal to all types of customers looking for high quality and value in some of the area’s most desirable residential locations. Lennar’s eight new home communities with locations in Irvine, Tustin, Buena Park and Orange include townhomes and single-family homes and include a high level of upscale amenities such as granite kitchen countertops, stainless steel appliances and family room fireplace, per community.
Celebrating its 55th anniversary, Lennar has grown to become one of the nation’s leading homebuilders. With hundreds of Communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has long distinguished itself by simply including everything as standard under its motto, “Everything You Want, Everything You Need, That’s the Logic of LennarSM.”
Welcome Home Centers are open daily 10 a.m. to 6 p.m. and Wednesdays 10 a.m. to 1 p.m. For a complete list of Communities in your area, call (888) 472-4085.
For further information about the Federal tax credit visit FederalHousingTaxCredit.com and for information about the State of California tax credit visit, ftb.ca.gov/individuals/
Buyers are encouraged to speak with their tax advisor and check out helpful links and resources on www.LENNAR.com.
**‡ Lennar cannot provide guarantees of actual savings and does not guarantee the homebuyers' qualification for the California tax credit or that funds will be available at close of escrow. Credit is subject to 2-year ownership and other requirements. ††‡ First-time homebuyer is any individual (excluding a non-resident alien) who has not owned a principal residence during the past three years and is purchasing the new home as their primary residence. Lennar cannot provide guarantees of actual savings and does not guarantee the homebuyers’ qualification for the federal tax credit. Tax Credit is subject to 3-year ownership requirement. Offer good for a limited time only. Lennar reserves the right to change or withdraw any offer at any time. Offers, incentives and seller contributions are subject to certain terms, conditions and restrictions, which may include use of designated lenders and closing agents. Prices are subject to change without notice. Stated dimensions and square footage are approximate and should not be used as representation of the home's precise or actual size. Lennar Homes of California, Inc. - License No. 728102. Lennar Sales Corp. - Broker. UAMC of CA, an equal housing lender is licensed by the Department of Corporations under the California Residential Mortgage Lending Act; Copyright © 2009 Lennar Corporation and Universal American Mortgage Company, LLC. All rights reserved. 5/09
