Lakemont Calms Nervous Buyers - August 25th, 2007

When Lakemont Homes Nevada rolled out their Low-Price Guarantee ad campaign earlier this year, they had no idea how popular it would make them with homebuyers. With this guarantee on new starts, homebuyers who have been sitting on the fence waiting to see if new home prices have bottomed out can move forward with their purchase with confidence knowing that Lakemont will guarantee the lowest price.

“We guarantee our new homebuyers that, if we lower the base price on their floor plan before they close escrow, we will honor the lowest price at closing,” said Greg Peitzmeier, president of Lakemont’s Nevada division. “This program makes it a win - win situation for them and for us.”

“We always watch the home buying market carefully,” said Debbie Hubert with Lakemont, who’s responsibilities include leading the sales department. “While new homebuilders were lowering prices to move inventory, our research told us that potential homebuyers were playing a waiting game to see how low the prices would go.”

“We wanted to eliminate their fear that prices would go lower after they made their commitment to purchase a new home from Lakemont,” added Peitzmeier. “The Low-Price Guarantee program on new starts was the perfect solution.”

Lakemont also offers an innovative contingency program for homebuyers who have a home to sell but have not yet put in on the market. Buyers can select their lot and the floor plan of their choice on a delayed start basis giving them time to sell their existing home before construction on their new home begins. Lakemont has made special arrangements with select brokers who have committed to actively market the existing home under strict guidelines. Once the home closes escrow, Lakemont will start the buyer’s new home.

“The contingency program has been just the perfect solution for many people since we launched it a few months ago,” said Hubert. “That, and the fact that you can not only choose your lot, but you can also choose the home you want on that lot in most of our communities, has been very popular with our buyers.”

Lakemont homebuyers also have the advantage of being able to work with Lakemont’s mortgage company, Platinum First, who offers a large variety of mortgage programs. In partnership with National City Bank, Platinum First mortgages are self funded – a huge benefit it today’s volatile loan market.

“Because we fund our own loans, we are not in the position of having to borrow funds from other banks ¬– as many mortgage companies are,” said Dwight Mallard, vice president of Platinum First Mortgage. “We can still offer 100% conventional, FHA and VA loans as well as jumbo. Our borrowers lately have been surprised and relieved that we can tailor a loan that fits their needs and get them into the new home of their dreams.”

For more information on Lakemont’s Low-Price Guarantee or contingency programs, visit one of Lakemont’s 12 new home communities in Northern Nevada or call Debbie Hubert at 775-824-3690. For information on new home loans, call Dwight Mallard at 775-673-7730. Visit www.lakemont.com for community information and locations.

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