Lennar Urges Homebuyers Not To ‘Snooze And Lose’ During Weekend Of Savings In Bay Area

May 1, 2009 - PRLog -- SAN RAMON, CA— Incentives have never been better, tax credits have never been bigger, and interest rates have never been lower. Lennar is urging homebuyers not to snooze on these incredible offers or they may just lose the opportunity to take advantage of this tremendous buyer’s market, which won’t last. Beginning this weekend, May 2nd and 3rd, Lennar is offering their best prices and closing costs incentives to solidify a homebuyer’s decision to buy now.

“There is no guarantee that all of these incentives, such as financing, tax credits and low pricing, will last,” said Steve Quaranta, Vice President of Sales, Lennar Northern California.  “More and more prospective homeowners are telling us that they believe now is the time to buy a new home.”

According to the State of California Franchise Tax Board, more than 40% of the $100 million allocated for new home tax credits* offered to California residents has been claimed in just eight weeks. Moreover, 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.

In addition, Universal American Mortgage Company of California, Lennar’s preferred lender, introduced in April the company’s lowest fixed interest rate in history, offering homebuyers the most savings possible.  Buyers do not have to worry about repairs, remodeling, waiting, or hidden fees. Lennar offers homebuyers, move-in ready brand new homes with some of the most desired upgrades included as standard at the best possible value.

“Sales are on the rise as home shoppers realize that this is a wonderful buyer’s market that won’t be here forever,” said Quaranta. “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 continues its “Peace of Mind” Mortgage Payment Protection ProgramSM at select new home communities nationwide. Designed to offer homebuyers extra comfort when purchasing their home, Lennar’s program provides assistance to those who experience financial difficulty due to unforeseen job loss. Qualified homeowners that are enrolled in the Peace of Mind program benefit from up to $2,500 per month for up to six months of the homeowner’s mortgage payments †.

Lennar has six communities in the Bay Area, five featuring the energy efficient SolarPlusSM package.  Residences range from the low $400,000’s to the low $1 millions with various floor plans ranging from approximately 1,667 to 4,249 square feet of living space. The communities are conveniently located in San Ramon, Danville, Mountain House, and Concord.

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 Tuesday thru Sunday, 10 a.m. to 6 p.m. For a complete list of Communities in your area, call (877) 297-2972.

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/new_home_credit.shtml.

Buyers are encouraged to speak with their tax advisor and check out helpful links and resources on www.LENNAR.com.


†The involuntary unemployment insurance included in the Rainy Day HELP Program is provided and underwritten by Virginia Surety Company, Inc. under group insurance policy IUI-POL (11-05). Exclusions and limitations apply. See the Certificate of Insurance and Schedule of Coverage for complete details. Program offered for FHA and VA loans only. Contact a Lennar New Home Consultant or a UAMC Home Loan Advisor for complete details. *CA tax credit up to $10,000 is subject to 2-year ownership and other requirements. 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. A federal tax credit up to $8,000 is subject to 3-year ownership requirement and is available to first-time homebuyers who are individuals (excluding a non-resident alien) who have not owned a principal residence during the past three years and are 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. Both tax credits are subject to eligibility requirements. Not tax advice; homebuyers should consult with their tax advisor. Tax laws are subject to change.  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. –DRE Lic# 012527531. 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. Equal housing opportunity. 5/09