2009 was another year of huge home builder incentives and creative sales events. Many home builders used the $8,000 federal tax credit in their sales promotions and worked to highlight some of the negative aspects of purchasing a foreclosure – some promotion pricing came close to foreclosure pricing. Below is a list of only a few promotions, events and incentives…
Please note that almost all, if not all, of these home builder incentives are no longer active.
Taylor Morrison late in the year, Taylor Morrison Homes introduced their “Renter Rewards” program that offered new home buyers up to $100 per month for up to 2-years. In addition, Taylor Morrison Homes offered up to $8,000 in closing cost savings. In all, home buyers could save up to $18,400 – $8,000 federal tax credit, $8,000 in closing cost savings & $2,400 in rent payments. For information about current Taylor Morrison incentives, visit them online www.taylormorrison.com
Shea Homes set out to reveal some of the hidden costs of buying a foreclosure property with a Dare to Compare campaign. The campaign highlighted the positive things about buying a new home instead of buying a foreclosure. Their Dare to Compare website helped show how buying a foreclosure might not be all it’s cracked up to be. For more information about their Dare to Compare campaign, visit www.daretocompareshea.com
Pulte Homes – Golden Opportunity at Pulte Homes, Bay Area. Home buyers were offered the opportunity to do something nice for themselves during the holiday season. Qualified first-time home buyers could receive up to $8,000 in federal tax incentives; qualified current homeowners were able to receive up to $6,500 in federal tax incentives. For information on current Pulte new home incentives, visit www.pulte.com
American West Homes was offering new homes from as low as $99 per sq. ft. in select communities. For more information about American West Homes or their current incentives, visit them online www.americanwesthomes.com
Main Street Homes In Feb., this Texas home builder was one of the first home builders to introduce an “insurance” program that protects home buyers against the loss of their job. If you purchased a home, and lost your job, Main Street Homes would pay up to 6-months of mortgage payments. For more information about current Main Street Home incentives, visit them online www.mainstreethomes.com
T.W. Lewis is an Arizona home builder that offered a new home trade-in-program. Buyers that purchased a new T.W. Lewis home were able to let T.W. Lewis take care of selling the home. They also offered a lease purchase program that offered buyers the ability to lease a home before purchasing it – the luxury home rent ranged from $2,200 – $3,500 per month; 25% of each month’s rent went towards the home’s purchase. For information about current T.W. Lewis incentives, visit www.twlewis.com
Toll Brothers – Luxury for Less Program – was allowing home buyers to get away with only 3.5% down on a number of luxury townhomes in Chatsworth, CA. For a limited time, Toll Brothers made it easier to qualify for an FHA loan. As a buyer, you were able to get into a luxury townhome from the mid $400s. For information about current new home incentives offered by Toll Brothers, visit www.tollbrothers.com
Meritage Homes‘ northern California divisions ran several incentive programs throughout last year. In early November they were offering 50% off all options and upgrades if you purchased a new home before December 7th. Meritage Homes offered a free gift just for making an appointment and touring their homes. For information on current new home incentives from Meritage Homes, visit www.meritagehomes.com
Richmond American Homes wanted home buyers to take advantage of the limited time FHA financing on homes that close by December 19. They offered a 5.75% (6.2437% APR) 2/1 buy-down FHA 30-year fixed rate loan! For information on current new home incentives offered by Richmond American Homes, visit www.richmondamerican.com
Ryland Homes wanted to return the favor to the men and woman who sacrificed the most for people last year. That is why they thanked community leaders with a $5,000 discount. Firefighters, Law enforcement, Military personnel, Educators and medical professionals were all eligible to receive the community leader incentive. For information about current Ryland incentives, visit www.ryland.com
Elliott Homes celebrated their 30-year anniversary of building new homes in Arizona by offering up to 30% off on select inventory homes. In addition, Elliott Homes offered a popular lease-to-own program that allowed buyers to move-in now and complete the purchase transaction after a lease period. For information on current new home incentives offered by Elliott Homes, visit www.elliotthomes.com
Olson Homes earlier in the year, Olson Homes of California offered great tax breaks on the purchase of a new home through their “I want you to buy a new home today!” program. The program offered up to $25,500 in incentives. For information about current Olson Homes incentives, visit www.olsonhomes.com
Beazer Homes in March, Beazer Homes introduced their “Crazy 8′s” event. During the event, homebuyers could enjoy an $8,000 federal tax incentive, up to $8,000 in closing cost assistance, $8,000 or more in discounts and an $8.00 washer and dryer package. For information about current Beazer incentives, visit www.beazer.com
VIP Homes, an Arizona home builder, decided to give home buyers a once in a lifetime opportunity by giving home buyers once in a lifetime financing. VIP Homes was offering ZERO DOWN and ZERO CLOSING on the purchase of a new home. During this time the first time home buyer tax credit was at $7,500. For information on current VIP Homes new home incentives, visit www.viphomes.com
D.R. Horton Homes announced their Spring Savings event in Charlotte during the month of May. For 2-weeks home buyers were able to take advantage of a 4.25% 30-year fixed loan, up to $9,000 in closing cost assistance, up to $8,000 in tax credits, special pricing and one of the following wood floors, granite counter tops or refrigerator & blinds. For more information about D.R. Horton incentives, visit them online www.drhorton.com
Mercedes Homes offered a “No Money Down” program early in the year that featured a first year interest rate of 3.625% and additional purchase discounts. For more information about Mercedes Homes incentives, visit www.mercedeshomes.com
K. Hovnanian Homes introduced their “Pounce Before the Bounce” sales event meant to get home buyers into a new home before a market recovery. The promotion offered huge discounts on select K. Hovnanian Homes; some discounts were up to $60,000 – maybe more. For more information about K. Hovnanian Homes or their current incentives and new home offers, visit them online at www.khov.com
All of the information above was gathered from each home builder’s website during 2009 and the list was compiled from our past new home incentive posts. For information about current incentives, visit our Hot Deals Section, or use the quick links above to visit a home builder’s website. Thanks for stopping by New Homes Section during your search for a new home or new home information.
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Missouri also announced a $1250 property tax credit and $500 energy efficiency incentive Tax Credit Missouri
There are definitelty some creative incentives in this list.
.-= Matt@Atlanta GA Real Estate´s last blog ..Act NOW if you are a FHA Buyer!! =-.
@ Elizabeth – Thanks for stopping by and sharing an incentive with our readers! I do a Saturday Incentive post and if you had any to share with our readers let me know!
These incentives from 2009 were great! I sold a bunch of new homes from alot of these incentives. When the price is right people are even willing to buy a new home even if they weren’t planning on moving in the first place.
Lennar in Las Vegas offered super low interest rates with their financing and no closing costs on any of their move in ready homes. So far they’ve continued that promotion this year.
.-= Chas@Las Vegas Real Estate´s last blog ..Real Estate Update =-.
Incentives gives a lot of motivation for home buyers. That’s an effective tool for better buying and selling real estate process in the market. Nice post! Keep it up!
.-= Orem Utah Homes´s last blog ..Previewing February’s New Home Sales: The numbers declined! =-.
Incentives give a lot of motivation for home buyers. That’s an effective tool for better buying and selling real estate process in the market. Nice post! Keep it up!
.-= Orem Utah Homes´s last blog ..Previewing February’s New Home Sales: The numbers declined! =-.
One of the problems with all of these incentives is that we still (basically) have a free market in existence. As such, these incentives begin to be priced into the overall economics and you’re left with more money being passed around, but the relative value is exactly the same.
If anything, incentives give people the push they need to buy. Whether or not money is being passed around, it’s all perceived value.