SOURCE: Beazer Homes

Beazer Homes Sales Event, Feb. 19 - 21

February 11, 2010 13:10 ET

Beazer Homes Phoenix Unlocks New Deals During National 3-Day Sales Event

Builder Introduces Key to Savings Sales Event, Feb. 19 - 21

PHOENIX, AZ--(Marketwire - February 11, 2010) - Beazer Homes is encouraging house hunters to purchase early this year in order to take advantage of government tax credits and before changes make the cost of Federal Housing Administration (FHA) loans more expensive. During its Key to Savings Sales Event, Feb. 19 - 21, Beazer is offering additional incentives, including up to $60,000 in savings, to qualified buyers on move-in ready and to-be-built homes in all 12 of its new home communities in the Phoenix area.

While the spring home-buying season typically takes off in March, Beazer is betting the expiry of the federal government tax credits -- up to $8,000 for first-time buyers and up to $6,500 for repeat buyers -- will bring shoppers out early this year. To claim the tax credit, eligible buyers must execute a written contract by April 30.

According to Kent Lay, president of Beazer Homes' Phoenix division, the promotion shines a light on the unprecedented buying power available for those who take advantage of the exceptional pricing, low interest rates and government-sponsored tax credits currently available.

"Americans right now can benefit from a true buyers' trifecta. Record affordability, low interest rates and a government-sponsored tax credit have all aligned in favor of home buyers," said Lay. "We're in the final stretch for buyers to take advantage of the government tax credits before the deadline hits. And, there's the added incentive to act before FHA changes drive up agency-backed mortgage costs."

Indeed, those who qualify for FHA financing have an incentive to act now before new guidelines take effect this spring. The FHA commissioner recently announced new rules that will increase the upfront mortgage insurance premium to two and a quarter percent (2.25%) of the loan amount, instead of the current one and three quarters (1.75%) percent premium. On a $200,000 home purchase with a $193,000 loan amount, the new premium will add about $965 to an FHA borrower's costs.

Additionally, applicants with FICO credit scores below 580 will soon have to make down payments of at least 10 percent (10%), up from three and a half (3.5%) percent currently.

Those opting for a new Beazer eSMART high-performance home will have the added benefit of lower monthly utility bills. Beazer's eSMART high-performance homes are engineered as a whole-house system to achieve greater energy efficiency, conserve water and improve indoor air quality. To reduce energy use, Beazer starts by addressing the home's thermal envelope, taking measures to prevent unnecessary air leakage.

In Phoenix, a study conducted by the NAHB Research Center found that, depending on home size, Beazer's eSMART homes can offer an up to 46 percent energy cost savings over comparable houses built 10 to 15 years ago.

"Today's buyers have a real appreciation for the superior performance standards and energy-saving benefits that come with our new homes," said Lay. "All Beazer homes include additional air sealing and framing techniques that allow for more insulation per home. And, we use denser insulation within walls and attic spaces and energy-efficient low-e windows."

Additional energy-saving features incorporated into every Beazer eSMART high-performance home at no additional cost include a home energy monitor, programmable thermostat, compact fluorescent light bulbs and Energy Star dishwasher. To help conserve water, Beazer uses regionally-appropriate plants and only water-saving bath faucets and showerheads. To address indoor air quality, paints and carpets that emit lower Volatile Organic Compounds (VOCs) are used, and every home is equipped with high-efficiency MERV 8 air filters and carbon monoxide detectors.

Beazer offers a variety of new single family home communities throughout the Phoenix metropolitan area with prices starting in the low $100s. For more information, visit www.Beazer.com.

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