Showing posts with label kendall county. Show all posts
Showing posts with label kendall county. Show all posts

Monday, November 10, 2008

Great Loan Programs for Lakewood Prairie Buyers


Anyone who pays attention to the news has heard that financing can be "hard" to find right now. Now, while that may be true for some...the vast majority of Lakewood Prairie buyers have found some really great financing programs this fall.

If you are a first time buyer(s) with average credit and individual (or combined) income ranging from $40,000 to $90,000...we have three unbelievably good financing and tax savings programs available for you!

#1) The American Dream Program. This program is ideal for first time buyers. It features:

A competitive fixed interest rate
NO reserves required at closing
NO Private Mortgage Insurance (PMI)
Lakewood supplies 3% down and up to 2% towards closing costs
Income restrictions apply


#2) The USDA Guaranteed Rural Housing Program. This program is not restricted to first time buyers. This program features:

30 year fixed rate financing
102% Financing available with financed 2% guarantee fee
No Private Mortgage Insurance (PMI)
Allows 3% Lakewood contribution toward down payment or closing costs.
Income restrictions also apply


#3) The IHDA "I-Loan" Certificate (MCC) Program. This program is available exclusively in our Joliet community.

The I-Loan Certificate (Mortgage Credit Certificate, a.k.a. MCC) allows first-time buyers to receive a dollar for dollar reduction in federal income taxes of 25% of the mortgage interest paid. This reduction is in addition to the standard income tax deduction available when purchasing a home. Keep in mind that the I-Loan certificate is not a loan. It is a tax-credit for first time buyers.


If you would like more information on any of these programs please email Richard Bridges at richard@lakewoodhomes.net or call us at (815) 439-5777. These programs are available for a limited time. They will not be available too much longer so be sure to find out if you qualify!

Monday, October 13, 2008

Ready to Move!


Did you know that Lakewood Prairie has only six homes available for buyers looking to move into a new home prior to Spring 2009? With savings of anywhere from $40,000 to over $80,000 these "Ready to Move In" homes are sure to be snatched up soon.

Here is a brief list of the available new homes...

The Richmond at 1209 Fawnlilly Circle
Available Dec/Jan…$238,000 full price…
Now available at $195,000… SAVE OVER $40,000!

The Graham Model at 1112 Woodiris Drive
Available Oct/Nov…$355,000 full price with decorator furnishings…
Now available at $274,900 with furniture… SAVE OVER $80,000!

The LaFayette at 1223 Morgana Court
Available by October 1st…$351,000 full price …
Now available at $285,000… SAVE OVER $60,000!

The Newcastle at 7807 Jewelflower Court
Available after the first of the year…$337,000 full price…
Now available at $275,000… SAVE OVER $60,000!

The Ridgefield at 7806 Jewelflower Court
Available after the first of the year…$361,000 full price…
Now available at $299,000… SAVE OVER $60,000!

Lakewood Prairie...Something for Everyone!

Lakewood Prairie offers four unique series of architectural designs at our Lakewood Prairie community.


The Country Homes

Four delightful, attached single family homes that live like traditional single family homes, the Country Homes are an affordable option for young families. From 1250 square feet to nearly 1900 square feet, these homes feature two-three-four bedrooms and 2 ½ baths, these ranch and two-story designs feature a private back yard, where you can have a barbecue, plant a garden or put up a swing set.

Prices range from $179,990 to the low $200,000’s.

Free full basements are available for a limited time!

New Premier Series

Lakewood has also introduced the Premier Series at Lakewood Prairie. These new homes are four two-story designs ranging from 2,048 to 2,819 square feet. These two-story single family homes include four bedrooms plus loft, 2 ½ baths, 9’ first floor ceilings, and two-car garages.

Prices range from $189,990 to the mid $200,000’s.

Free full basements are available for a limited time!

The Classic Series

These are American classics, the kind of homes we all grew up in… only better! The Classic Homes are carefully designed to give you maximum space, style and affordability. These four homes range from 1614 square feet up to 2171 square feet. These two-story single family homes include a partial basement with three or four bedrooms, 2 ½ baths, two car garages, and more.

Prices range from $233,990 to the upper $200,000’s.

$20,000 free design center gift certificate for a limited time!

The Executive Series

These spacious, family size homes feature up to 4, 5, and even 6 bedrooms and 2 ½ to 4 baths, some with unexpected extra spaces like dens, second floor family rooms, lofts, and sunrooms. They're designed for the times of your life – with big, bright living areas for family time, gracious living and dining rooms for elegant entertaining, and for the quiet times, private master suites with luxurious baths. These homes range from 2351 square feet up to 4000 square feet! These two-story single family homes include partial basements and either a two or three car garage and much more.

Prices range from $259,990 to the upper $300,000’s.

$30,000 free design center gift certificate for a limited time!

Sunday, September 14, 2008

Lakewood #1 for the Sixth Time!

Lakewood Homes was just ranked #1 in overall customer satisfaction for the sixth time! No other builder can make that claim in the Chicagoland market! Here are the details...

LAKEWOOD HOMES ACHIEVES FIRST PLACE RANKING
ONCE AGAIN IN LATEST J.D. POWER AND ASSOCIATES®
NEW-HOME BUILDER STUDY

Lakewood Earns Its Sixth First Place Finish In Eight Years
Among Chicagoland Home Builders

Hoffman Estates, IL - (September 10, 2008) - Lakewood Homes has achieved yet another first place ranking for customer satisfaction among home builders in Chicagoland*. According to the 2008 J.D. Power and Associates New-Home Builder Customer Satisfaction StudySM that was released September 10th, Lakewood is ranked in first place among Chicago area home builders, as part of a three-way tie for the top spot. This marks the eighth year in a row that Lakewood has been ranked at or near the top of this annual industry study, including six first-place awards.

In the 2008 Customer Satisfaction study, Lakewood tied for first place with two other builders for customer satisfaction, with each company scoring 823 points on a 1,000-point scale. Lakewood’s score of 823 represents a seven point increase over last year’s score. Builders must have delivered at least 125 homes in 2007 to be considered for the study.

The 2008 New-Home Builder Customer Satisfaction Study includes satisfaction ratings for builders in 33 markets. Nine factors drive overall customer satisfaction with home builders (listed in order of importance): builder’s sales staff (15%); builder’s
warranty/customer service staff (15%); workmanship/materials (14%); price/value (14%); home readiness (13%); construction manager (13%); recreational facilities provided by the builder (7%); builder’s design center (6%); and location (4%).

In the 2008 study, Lakewood performed particularly well in the Chicago market in three of the nine factors: builder’s design center, home readiness and price/value factors.

“Regaining the top spot in the latest J.D. Power and Associates study is once again confirmation of our all-out efforts to have the highest levels of customer satisfaction among new home builders in Chicagoland. The competition this year was incredibly intense and the fact that three builders received the same score at the top is testament to all of our efforts in making customers happy,” said Buz Hoffman, president of Lakewood Homes. “Despite the current market conditions, we have continued to make customer satisfaction the focus of our efforts and are pleased to have validation of our efforts through our ranking in this year’s study.”

The average customer satisfaction index score in Chicago is 794, which is 15 points above the 33-market average of 779. In addition, satisfaction has improved substantially in the Chicago market in 2008, being up 51 points since 2007.


Lakewood has been consistently listed at or near the top in the annual J.D. Power and Associates study for eight years running, so continuing to achieve these high rankings means the company strives for continuous improvement year after year.

“Now more than ever, home buyers are doing their research very carefully and typically mention our rankings in the J.D. Power and Associates study as one reason they are considering Lakewood. With this year’s three-way tie, the bar has already been set higher for next year’s study and we’re ready to work even harder to maintain our position,” Hoffman said.

The 2008 J.D. Power and Associates New-Home Builder Customer Satisfaction Study noted that “Efforts by builders to respond to changes in the market landscape have contributed to the increase in customer satisfaction in 2008.”

Another reflection of Lakewood’s high customer-satisfaction rankings is reflected in the fact that 42% of its homebuyers have been referred by an existing Lakewood homeowner, a friend or an associate.

“Everything we can do to improve customer satisfaction is put into practice everyday at our company and we never lose sight of what can be done to make a customer satisfied. The J.D. Power and Associates study helps to give us a true feel for how good of a job we are doing, but it also shows we can still do better, despite being ranked at the top, and this is our ongoing challenge,” said Hoffman.

Lakewood Homes is one of Chicagoland’s largest homebuilders and is currently building clubhouse neighborhoods in Plano, Joliet and Hampshire. Saddle Ridge is a
new single-family and townhome community in the St. Charles area and Easton Park in Carol Stream features luxury townhomes.

For more information on Lakewood Homes, call the Lakewood Prairie Office at (815) 439-5777 or visit www.lakewoodhomes.com.

*To be included in the studies, Chicago-area builders must have closed 125 or more homes in the market in 2007. The new homes are located in the following counties: Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Kenosha, Wisc., Lake, McHenry and Will. These studies are based on responses from 50,837 buyers of newly built single-family homes who provided feedback after living in their homes from four to 18 months, on average. There were 1,639 respondents in the Chicago market.

Saturday, July 19, 2008

KENDALL COUNTY BOOMING DESPITE SLOWDOWN


Editor's note...here is another great article touting our area! We had the front page of the Tribune last week and now the front page of the Sun-Times Real Estate section! Take a look!

July 18, 2008
BY SANDRA GUY - Sun-Times Staff Writer

Pop-up neighborhoods and big-box stores are the stereotype of an ex-urban neighborhood, but town officials in Kendall County are installing bike trails, intensifying planning efforts and revitalizing their downtowns to reinvent themselves as destinations.

"Many people moving into this area are looking for larger lots but they still want city services," said Valerie Burd, mayor of Yorkville, about 50 miles west of Chicago.

Booming Kendall

Despite a national housing market meltdown, Oswego, Plainfield and Yorkville are still growing. Oswego has doubled in size in the past eight years, to an estimated 28,000 today; Plainfield nearly tripled to 37,300, and Yorkville nearly tripled, to 15,240.

All three have overwhelmingly Caucasian populations, and they boast mostly young families as their core demographic.

Income bracket widens

It's enviable that the area has seen its upper-income population grow.
In Yorkville, the percentage of the population making $200,000 or more grew to 4 percent in 2006 from 2.5 percent in 2000, and those making $150,000 to $200,000 tripled during that time, to 6 percent. Eighteen percent make $100,000 to $150,000, while 22 percent garner annual incomes of $75,000 to $100,000. In Oswego, the percentage of households making $75,000 to $99,000 stood at 22.5 percent of the population in 2006, and is expected to edge up to 23.5 percent by 2011.

Those making $100,000 to $149,999 surged to 21.4 percent in 2006 from 2.4 percent in 1990, and those making $150,000 and more jumped to 10.4 percent of the population in 2006 from 1.6 percent in 1990. The percentage making more than $150,000 is expected to increase to 13.9 percent by 2011. Plainfield boasts similar numbers. Nearly 28 percent of the village's population have household incomes of $100,000 to $149,999; 11.7 percent have incomes of $150,000 to $199,999, and 8 percent make yearly incomes of $200,000 and more.

"This is one of the wealthiest per-capita counties in the state," Burd said of Kendall County. Kendall ranked No. 41 of the highest-income counties in the United States in the 2000 U.S. Census. The median family income was $64,625.

Building booms

The boom times continue, even if at a slightly slower pace. Yorkville, with 25 residential developments going through the approval process in early May, encompasses 20 square miles, and has a planning area of 70 square miles.

The city annexes only upon request, and within one-and-a-half miles of its borders in areas not in another municipality.

Plainfield has quadrupled its borders, growing to 21.6 square miles from 5.6 square miles 18 years ago. New residents asked the village to annex them so they could receive the village's water, sewer and police services, said Jim Testin, community development director.

Oswego has benefited from spillover growth from neighboring Plainfield, Montgomery, Yorkville and Aurora. Its annexations have occurred with the goal of logical and contiguous growth, said Oswego Village Administrator Gary Adams. Oswego has worked out partnerships with bordering taxing bodies as part of its annexation system.

Amenities, natural and man made

The Fox River is an important part of Yorkville's development. The city has purchased 4.5 acres of privately owned, wooded riverfront land at the southeast corner of Main Street and Route 47, and will combine it with state-owned land to develop passive parkland from Route 47 to the Glen Palmer Dam.

The development is part of Yorkville's shift into preserving wooded open space rather than developing the land as a bike trail or some other active use.

That's not slowing the development of park land, however, with the city installing 60 parks this year. The parks resulted from Yorkville's adoption of a Land Cash ordinance in which developers are required to provide a certain amount of land or the cash equivalent for public parks.

The park board seeks to ensure a park within one-half mile of each resident. Yorkville has a contract with the Kendall County Forest Preserve District to develop part of the Hoover Forest Preserve, a 400-acre former Boy Scout camp, as an active recreation area, including baseball and soccer fields.

The city also expects to benefit from the state's reconstruction of the once-dangerous Glen Palmer Dam. The Illinois Department of Natural Resources has installed a four-step dam at the site and will add islands that will extend 500 feet upriver and 500 feet down-river to create a white-water canoe and kayak chute. The latter phase should be completed by fall of 2009.

The issue is a personal one for Mayor Burd, whose neighbor and neighbor's brother were killed at the dam trying to save a kayaker who had gotten caught up in its force.

"[The dam] had such a force of water, it had dug out a deep pit at the base. If you stepped into that, it was like being in a washing machine," she said.

The redesign will let fishers find peace and quiet on the islands, and give canoeists and kayakers their own chutes so they will no longer have to go around the dam.

Yorkville hopes to see private businesses such as restaurants and sportsmen's stores open or expand in the recreation area.

"There are a lot of river views," Burd said. "Once you get past Sheridan, there are high cliffs similar to Starved Rock."

Plainfield and Oswego cite similar draws such as attractive schools and safe public spaces, as well as close proximity to natural resources.

Michael Cassa, executive director of the Oswego Economic Development Corporation, said homeowners in surrounding towns have discovered they can get a "nice return" on selling their homes and moving to Oswego.

A $400,000 investment in Oswego can buy a four- to five-bedroom house on a 15,000 to 18,000 square foot lot, with a three-car garage.

As for natural resources, Oswego requires developers to connect its bike and trail system so it has no gaps.

"You can ride all around town and never leave the system," Cassa said.

Ironically, Plainfield may have developed its community-minded reputation because of media coverage that followed an Aug. 28, 1990 tornado that killed 29 and injured 350. The tornado struck Plainfield, Crest Hill and Joliet.

"The community came together, and it got a lot of attention," said Jim Testin, Plainfield's community development director. "The community really showed character, with everyone working together to help."

Plainfield is slated to be a stop on Metra's Suburban Transit Access Route, or Star Line, proposed to link outer-ring suburbs extending from Joliet to O'Hare International Airport.

Another key to retail development is Route 34, the third largest commercial corridor behind Randall Road and the Fox Valley Mall area at Routes 34 and 59.

Oswego is the site of a proposed 500,000-square-foot lifestyle center, The Streets of Oswego, that would house upscale restaurants and retailers on Route 34.

Oswego has already seen its sales tax revenues nearly quadruple in the past decade, to $5 million this year from $1.2 million in 1998.

"That's annual money spent on road improvements, police protection and other necessities," Adams said. Plainfield has seen its sales tax revenue jump to $4.6 million from $1.38 million eight years ago.

In Yorkville, sales tax revenues have tripled in the past decade, growing to $2.5 million in fiscal 2007-2008 from $855,372 in fiscal 1997-1998.

Another mall, the 32-year-old Countryside Shopping Center at Routes 34 and 47 in Yorkville, was demolished three years ago with the use of $500,000 of a $3 million TIF bond. In its place, developers are proposing to break ground this fall on a landscaped, multi-million-dollar destination shopping center with a hotel, restaurants, and high-end retail.

Downtown dilemmas

Meanwhile, Yorkville struggles to reinvent its downtown, while Oswego continues to improve its downtown district.

Yorkville 2nd Ward Alderman Joe Plocher laments the downtown's fate in the face of big-box retailers and shopping malls.

Yet the city's residents appear to want a viable downtown. They chose among four options what was considered the most ambitious: destroying all buildings on the east side of Route 47 and relocating City Hall and a town green there.

The plan would revitalize six blocks, from the river on the north and south to Fox Road. The goal is to see a bookshop, restaurants, an ice-cream shop and specialty retailers that could draw people downtown. A developer is proposing building a 20-unit condo development with six retail spaces downtown.

The plan is on hold because a $4 million federal grant to the Illinois Department of Transportation (IDOT) has been approved but not funded, and IDOT has yet to come up with a $1 million matching grant to help buy rights-of-way and widen Route 47 in the downtown area.

Oswego is reconstituting its downtown as a centerpiece. It has built a new village hall and is extending downtown across the Fox River.

The village has taken advantage of Illinois First grants under former Gov. George Ryan's administration and a federal grant under U.S. Rep. Tom Cross and his predecessor, Denny Hastert, to install new benches, planter boxes, street lighting, utility lines and parking spaces in the downtown shopping district. Oswego has emphasized quality design and development standards for residential and commercial development.

"You can't build a metal building in our town. You cannot put up a pole sign," Adams said.

Plainfield has spent more than $1 million on improvement projects for its historic downtown, and is restoring historical buildings on Lockport Street - the commercial heart of the downtown area -- to their original appearances.

A diversifying economy

Yorkville, long dependent on Caterpillar, F.E. Wheaton & Co. and Amurol Confections for private employment, is seeing its economic base diversify. Raging Waves Water Park is slated to open in mid-June and employ 300, and a Rush-Copley convenient care medical service will open July 21 at 1100 W. Veterans Parkway with 50 part- and full-time employees.

Many residents still endure long commutes, so Yorkville officials are looking to install a park-and-ride to provide commuters transportation to the Metra station in Aurora.

Plainfield has depended on industrial jobs at Chicago Bridge & Iron and Plainfield Stamping and Molding, but service-sector jobs are now growing at big-box retailers such as Wal-Mart, Menard's, Meijer, Kohl's and Target.

Government job growth

To keep up with the exploding residential growth, the towns have had to expand their own payrolls. Yorkville has doubled the number of its city employees in the past 10 years, to 92.

The new hires included an assistant city administrator, a city planner, a landscape architect and a digital mapping coordinator.

Indeed, 15 percent of the city's employment base is taxpayer-funded schools and city and county governments.

Plainfield has added 71 employees in the past five years, bringing the total to 105. The village focused on hiring police officers, building inspectors and public works and planning department workers.
Oswego has added five village employees in the past few years, and hires one to two new police officers each budget year.

David Krahn, 55, a life-long Oswego resident, says the village retains its close-knit feel.

"You still know people," said Krahn, a former village board member. "People are cordial and enjoy seeing you, enjoy the camaraderie."

Saturday, July 12, 2008

JOLIET IS BLOSSOMING INTO THE PLACE TO BE



Please enjoy this great article from the Saturday Chicago Tribune...we could not have said it any better!

Chicagoland Speedway isn't the only reason people are flocking to this Will County city, which just passed Naperville as the state's 4th largest

By Emma Graves Fitzsimmons | Chicago Tribune reporter
July 12, 2008

Leslie Bolin, who works in a Joliet museum but grew up in Chicago, says people don't believe her when she tries to tell them how cool the Will County town has become over the past decade.

When she returned to school recently and took a speech class, she even decided to give her persuasive talk on why people should visit Joliet.

"I was pleasantly surprised when I came here," the 46-year-old said. "It truly is a beautiful city."

One of the best kept secrets of the Chicago area is finally getting out. The town officially passed Naperville this week as the state's fourth largest city, while new statistics reveal that Will County saw one of the region's biggest jumps in tourism dollars last year.

And the city occupies a national stage this weekend as a huge NASCAR race at Chicagoland Speedway is a prime example of the major attractions bringing people and their money to Joliet, along with two casinos, a historic theater, a baseball team and revitalized downtown.

Local leaders say it was only a matter of time before people came to view the tough old industrial town as a vibrant city—and get this—major cultural center.

"Maybe we are finally getting the credit that Joliet has deserved for a long time; it's there in black and white numbers," said Ben Benson, director of the Joliet Visitors Bureau. "This wasn't built overnight. We worked hard to get here."

A night on the town in Joliet may not carry the glitz of a trip to downtown Chicago, but the community prides itself as a destination where regular folks have fun without paying a fortune. For visitors, it might be a night at the Comfort Inn instead of the Hilton, and a $5 ticket to a Joliet JackHammer game instead of a $60 Cubs ticket.

Residents say the city got a bad rap as gritty and dangerous, and they still have to dispel that old image of Joliet. Recent visits from celebrities such as Johnny Depp to the set of "Public Enemies" and the filming of the popular FOX television show "Prison Break" may help.

"Most people associated us with the prison and factories; it was seen as a rundown, dirty, unsafe town," said Annette Parker, 38, who works at the Rialto Theater and grew up in Joliet. "It feels much safer and cleaner now."

Joliet grew to 144,316 people last year, edging out the affluent western suburb of Naperville, which has 142,479 people, according to census figures released this week. Aurora (170,855) and Rockford (156,596) still come in second and third to Chicago.

Joliet and Elgin were the only two Midwest towns on the list of 25 fastest growing cities in 2007, according to the census. The others are in Sunbelt states such as California, Texas and Florida.

Michael Kazecki and his wife moved to Joliet four years ago after finding an affordable, 100-year-old "fixer-upper." Growing up in nearby communities, the couple heard bad things about Joliet and were apprehensive at first.

"The perception at the time was that it was full of smog and dirt," Kazecki said at a yard sale on his lawn Friday. "Now it's been rejuvenated. It's a nice miniature version of downtown Chicago."

Some residents took delight in blue-collar Joliet trumping white-collar Naperville in the rankings. Kazecki was excited that more people are choosing to live in the humble community he has come to love.

"Sometimes you go to Naperville on the Riverwalk—everybody has a certain air about them—but it's laid back here," he said.

Jeremy Robinson, 37, of Wheatfield, Ind., only comes to Joliet for the racetrack. He has been aware of the city's image problem for a while, and remembers radio DJs rhyming Joliet with toilet to describe the city.

"I go straight to the races, and when it's over we go straight home," he said. "We're fans of NASCAR. When they brought in these races, that brought us."

The state figures released this week showed tourism dollars in Will County grew by 9.4 percent last year to $585 million. Only Kendall County tourism, to the west, grew at a faster rate, by 11.2 percent to $34 million.

Local leaders boast that Joliet's major attractions lure residents from nearby communities and even international tourists. This weekend, the city is pulsing with about 200,000 visitors for NASCAR races. Benson said the race filled every hotel in town, and room bookings have increased across the board the past three years.

An increasingly popular destination is the Route 66 welcome center that opened at the Joliet Area Historical Museum last year. Visitors come from as far away as Japan and Denmark to travel the road and learn about American history. An imitation drive-in movie theater plays a video about the route's history in the lobby, and the visitor book includes signatures from 35 states and 40 countries.

"The legend of Route 66 carries a mystique, and it captures something nostalgic," said museum Interim Director Tony Contos. "You get to see America, starting in a big city and winding through towns. You see mountains and deserts—it's a great picture of America."

Along the way, some people discover Joliet and decide to stay. The city continues to draw thousands of new residents a year while many Midwest communities lose people. Joliet grew by 4,349 people last year.

Many factors contribute to the boom, from affordable housing to a vibrant immigrant community, along with good schools and a declining crime rate, officials say.

Amy Collofello, 36, left Joliet after growing up there, but returned to raise her six children. She hates to hear anyone bad mouth her town these days because she has witnessed its makeover.

"As a kid growing up, it didn't seem like it was so great because there wasn't so much to do," she said. "But now, for my kids, there's tons of things."

Tribune reporter Mary Owen contributed to this report.

efitzsimmons@tribune.com

Friday, June 20, 2008

Why Buying a Brand New Home still makes Sense

Here is a very good posting taken from www.newhomeguide.com that spells out the advantages of investing in a brand new home versus buying a used home.

Advantages of Buying New

While owning a resale home holds great appeal for some, more and more home buyers are choosing to build their new dream home. Here are just a few reasons why your next home may be brand new:

Ease of Maintenance

New homes don't require as much upkeep as an older home. Many home buyers are finding they want to spend more time on valuable weekends with family and friends than performing home repair. And some home buyers just find they don't have the necessary skills to perform do-it-yourself maintenance and would prefer to live in a home that doesn't require those skills.



Customization

Of great appeal to many a new home buyer is the thought of making their home truly reflect their tastes and lifestyle. From the moment they walk in the door, the home feels like their own as they chose every paint color, cabinet, countertop, carpet, plumbing and lighting fixture.

Community

A community of new homes allows for the planned devlopment of that community. Whether it be active adults, families with young children or golf and tennis enthusiasts, new home buyers know they'll immediately have something in common with their neighbors when they move in.

Floor Plan for Today's Living

Buying a resale home typically means you're stuck with that home's layout (as most don't have stacks of cash sitting around for major renovation projects) that has a design appropriate for 10, 20, even 50 years ago. Today's homes reflect the changing lifestyles of home owners with amenities like more open kitchens, cable jacks throughout the house, more plentiful outlets, etc.

Energy Efficiency

The materials used in today's home are far more effective at reducing energy costs than resale homes. The savings provided in utility bills can quickly offset the price of a new home. (editors note: One study estimates that today's new homes are as much as 30% more energy efficient than homes built just 30 years ago!)

Safety

In addition to less energy efficient materials, older homes can have hazardous materials like asbestos, lead-based paint or faulty wiring contained within them. A new home is subject to the current building codes that require more stringent safety requirements regarding materials or severe weather.

Technology

Retrofitting older homes with today's technology can be an exercise in frustration and futility. They just weren't designed with those items in mind (and to be fair, it's hard to design for something that didn't exist at the time). It's significantly easier to add wiring for surround sound speakers or wired or wireless internet access to a new home while it's being framed.

Warranties & Customer Service

New homes will often come with a complete warranty that covers everything on the house, inside and out. While warranties are available for resale homes, they're typically for only for one year from the purchase date and only cover specific items in the home. A new home can have a much longer warranty and provide more options when something goes wrong.

Sunday, June 8, 2008

Couple Discover More than Value at Lakewood Prairie

Patrice and Jerry Conley are extremely glad they decided to have Lakewood Homes build their first new construction home at Lakewood Prairie in Joliet. This couple was nearing a decision on their purchase of a new single-family home last summer when they decided to make one last stop and check out what Lakewood had to offer. Jerry and Patrice immediately recognized the value that Lakewood is famous for and also appreciated the genuine interest Lakewood’s personnel took in them, factors that led them to choose Lakewood as their builder of choice.

Lakewood Prairie is a clubhouse community featuring 551 single-family homes priced from the low $230s along with 214 attached style Country Homes, starting in the $180s. Fully decorated and furnished models are open for tours everyday.

“It was in July of last year that we stopped by and took a look around Lakewood Prairie. We wanted to stay in the southwest suburbs and thought we should see what Lakewood had to offer. I was impressed with the amount of square footage you get forthe money and also by the salespeople, who really cared about what we were looking for and about our needs. When it came time to make our decision, there was no way Jerry and I could say no, so we went with Lakewood,” Patrice said.

Lakewood Prairie has been a best selling community, attracting buyers like the Conleys, in part because it offers a great selection of 11 different single-family floor plans ranging in size from over 1,600 up to approximately 4,000 square feet. There are four Classic Series homes, priced from the low $230s that feature two-story layouts with three to four bedrooms, 2-1/2 baths, luxury master suites with walk-in closets and private baths, basements and attached two-car garages.

There are also seven impressive Executive Series homes at Lakewood Prairie, starting in the $260s. These home designs are ideal for move-up buyers, growing families or people with a related living situation. The Executive Series are two-story plans with up to six bedrooms, up to four baths, luxury master bedroom suites with private baths and one or more walk-in closets, dens, second floor family rooms (per plan), basements and two or three-car attached garages.

Lakewood also offers its unique Country Home Series at this community. Country Homes are attached single-family designs with the look and feel of a traditionalsingle-family home. The Country Homes range in size from 1,250 to nearly 1,900 square feet, with prices starting in the $180s. There are beautifully decorated and fully furnished models highlighting plans from all series that are open for tours everyday at Lakewood Prairie.

Even though Patrice and Jerry’s children are grown and living away from home, this couple wanted to find a single-family home that would give them much more space than their townhome in Bolingbrook had. They concentrated their search on the Executive Series homes at Lakewood Prairie and settled on the Jefferson model, a popular choice for many buyers because of its open layout and great value.

“We wanted room to spread out, with an open floor plan and at least three bedrooms. We both liked the openness of the Jefferson and the overall flow of this plan. We were also very excited to be purchasing new construction,” said Patrice.

The Jefferson is a comfortable 2,351 square foot two-story, with four bedrooms, 2-1/2 baths and a two-car attached garage. This home highlights formal living and dining rooms, a two-story entry foyer, a corner den and a very open kitchen, breakfast area and family room configuration. The kitchen features a pantry, center island and built-in planning desk.

Upstairs, the Jefferson showcases three secondary bedrooms and a luxury master suite with a deep walk-in closet and a private full bath. The bedroom closest to the top of the stairs can be converted into a loft, an option the Conleys chose in their Jefferson. The couple’s new home also sports oak rails on the stairway and an expanded kitchen with deluxe black appliances and countertops plus beautiful kitchen cabinets with crown moulding.

The Conleys also selected elegant French door that lead into the den, a full basement and a deluxe master bath with a dual bowl vanity, separate shower and a corner whirlpool tub. The couple plans on using their loft space as a mini home theater and video game area, with the two secondary bedrooms reserved for when their children visit or for other guests. The basement is where Jerry can play with his RC cars and other ‘toys’, while Patrice plans on setting up a wet bar and game tables on the other side. Their home has a charming brick front elevation with decorative shutters and a covered front entryway and sits on a quiet cul-de-sac home site that backs to open space.

Aside from getting a new home that had everything they could have dreamed of, the Conleys also received something equally important from Lakewood: highly personalized and responsive customer service. Patrice says that all their questions were answered thoroughly and honestly and that she and Jerry always felt welcomed every time they stopped by to check on the progress of their home.

“What really impressed us was the genuine interest in what was going on in our lives that Lakewood’s salespeople took in us. I really feel we developed a close personal relationship with them during the purchase and construction of our new home and it gave us a great feeling, knowing we didn’t have to worry about anything,” she said.

The private resident clubhouse at Lakewood Prairie will be a popular spot for the Conley’s nieces and nephews when they come to visit. This facility has an outdoor pool with sundeck along with a toddler pool, tennis and sand volleyball courts. Inside, the clubhouse has a furnished great room with a big screen television, fireplace and kitchen.

There’s so much that Jerry and Patrice enjoy about their new home at Lakewood Prairie and because they had such a wonderful experience with the company, they have already told many of their friends and acquaintances to consider a Lakewood home.

“Our experience has been great and as our first single-family home purchase, we love the privacy we now have and enjoy living in a great neighborhood in a growing area. We are proud to be Lakewood homeowners,” Patrice said.

Lakewood Prairie is located on Ridge Road, one mile south of Caton Farm Road in Joliet. To visit, take Route 59 to Caton Farm Road west four miles to Ridge Road, one mile south to the community on the left. The sales center is open daily from 10 a.m. to 5 p.m. or by appointment. For more information, call 1-815-439-5777 or visit www.lakewoodhomes.com.

Tuesday, June 3, 2008

News You Can Use

Even Now, Buying Home a Smart Move

BY GREGORY KARP-SPENDING SMART
June 1, 2008 (Article Borrowed from the Chicago Tribune Business Section)

Purchasing a home is generally considered a good way to spend money, but is a declining real estate market the right time to buy? How about housing markets where long-term prices have risen slower than average? What if prices already had a big run-up and haven't fallen much?

Those are all the wrong questions because they focus on changes in house prices, contend Gary Smith and Margaret Smith, authors of the new book "Houseonomics: Why Owning a Home is Still a Great Investment." Buying a home can be a smart move, even if prices stay flat over a long period, say the husband-and-wife team who, respectively, are an economics professor at Pomona College in Claremont, Calif., and president of her own fee-only financial planning firm.

"All people think about is how fast prices go up," Gary Smith said. The more central question is, "How much money can I save on rent?"

The basis of their argument is you have to live somewhere. So you either buy or rent your shelter. If you buy, your house can generate an income, or cash flow. That income, what they call the "home dividend," is equal to the money you save by not renting, plus the tax benefits of having a mortgage, minus the mortgage payments and other homeownership expenses.

Many consumers have considered the rent-savings concept in general, having a vague notion that they're throwing away money on rent. But it looks a lot different, and compelling, when you flesh it out with numbers.

A couple years ago, while many housing experts were screaming about bubble markets, the Smiths were analyzing data and concluding many markets, including Indianapolis, Dallas and Atlanta, were not bubble markets. In fact, houses there, based on their home dividends, were tremendous bargains.

Consider a house in the Indianapolis suburb of Fishers, Ind., that sold for $135,000. Annual rent savings for a comparably sized dwelling totaled $15,000, while the mortgage tax deduction was worth $2,447. Subtract the annual mortgage payments, property taxes, insurance and maintenance, and the new owners were left with a house dividend of $5,622.

That means at the end of the year, the couple who bought that house had that much more in their bank account than if they had rented for that year. Assuming the couple made a 20 percent down payment, their return after the first year was a whopping 21 percent. And the return, compared with renting, increases each year as rents rise.

But the return excludes expenses incurred in buying and selling a home, such as closing costs and real estate agent commissions, because they aren't incurred every year. If the couple stayed in the home a short time, the transaction costs would diminish that return. People who don't itemize their income taxes would not receive the added tax benefit.

The point, though, is that you can have a tremendous investment return from your house that has nothing to do with an increase in its potential sale price.

In fact, the authors say, your house can be your financial engine to prosperity. During working years, a house is a form of forced savings. It's a source of borrowing via equity loans. In retirement, you can use home equity to help pay for retirement by downsizing to a smaller home and pocketing the difference, often tax free. Or you could obtain a reverse mortgage, which provides an income stream. If you pay off the mortgage, you get to live rent-free in retirement.

Indeed, the average homeowner has a net worth of nearly $200,000, while the average renters have a net worth of less than $5,000, according to the Federal Reserve Board's Survey of Consumer Finances. And it's not because homeowners have 40 times the income of renters; they only have about twice as much.

You can calculate your home dividend. Online at http://www.houseonomics.com/, the authors have a calculator, which you can use for free by creating a login.

Home dividends can come out positive or negative. Some will be negative at first but will turn positive as rents go up and rental savings grows, Gary Smith said.

Gregory Karp is a personal finance writer for The Morning Call, a Tribune Co. newspaper in Allentown, Pa. E-mail him at yourmoney @tribune.com. For additional discussion on spending wisely, see the Spending Smart blog at http://blogs.mcall.com/ /spendingsmart.

Copyright © 2008,
Chicago Tribune

Saturday, May 31, 2008

The American Dream Builder Presents "Dream Points"

Lakewood’s “Dream Points” solve the problems that new home buyers face. Each point is worth a dollar. Depending on the home you choose, you could have 10,000...20,000...even 30,000!

Here’s how they worked to solve four typical problems, based on real people who recently bought Lakewood homes.

1. Sara and her husband had an existing home to sell and
didn’t want the equity to be used up by realtor and moving
expenses.

Solution: Dream Points paid both the realtor’s
commission and moving expenses.


2. Another couple discovered that the monthly payments on
their new home would be too high.

Solution: Dream Points brought down the rate and they were able to escrow their down payment for future taxes, resulting in an affordable monthly payment.


3. One couple said that car payments and the price of gasoline
made the cost of a new mortgage out of the question.

Solution: Dream Points were used for a down payment on an
affordable new car lease, and provided free gasoline for a year!


4. Another family told us that purchasing would be a problem
because after they moved in, they’d need cash for furnishings
and decorating.

Solution: Dream Points paid for rooms full of
brand new furniture and terrific landscaping, too.



Dream Points can solve other kinds of problems too. They can reduce down payments to zero, lower association dues, provide for 6 months of payment-free living...and can even lower interest rates.

People who visit Lakewood Homes today are saying, “Our problems are solved!” Thousands of Dream Points are waiting for you now to make your American Dream come true. How will you spend them?

Welcome to Lakewood Prairie

Thank you for visiting Lakewood Prairie's new information site. We will be constantly updating this site with all sorts of new and useful information that will help our friends and neighbors learn more about our community. We think it will help you to discover why Lakewood Prairie is such a great place to live.

You can use our "Great Links" to access all of the helpful Lakewood Websites. You can watch our informational videos and even enjoy some of our "vintage" Lakewood promo videos. You can send information to friends and neighbors. Take our "online poll" so that we can continue to learn more about you and your family. Additionally, you can contact our sales team directly, we are only a "point & click" away.

We will help you learn more about our community, our company, and our area. You can get frequent updates and new information. We hope to be able to help each of our visitors as they seek to find their own American Dream!

In the meantime, please enjoy this video that will give you a brief overview of our community.



Thanks for visiting. We look forward to your next visit to Lakewood Prairie.