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F R I D AY , F E B R U A R Y 1, 2 013
C R E AT E D B Y R E P U B L I C M E D I A C U S T O M P U B L I S H I N G
NATIONAL SALES EVENT FEBRUARY 9–24
Choose from limited-time incentives to customize for less.* Montevista
Featuring Two Gorgeous Decorated Models!
New Floorplans Available!
Lush and luxurious, one and two-story single-family homes in a gated community featuring a private park! From the low $400,000s (480) 595-2800
The ďŹ nal and only new home community building on the historic Wigwam Resort golf course! From the mid-$200,000s (623) 535-5531
Windgate Ranch
Spectacular Mountain View Home Sites Available!
Mountain View Home Sites Available!
Newest Toll Brothers community within the master plan. Luxurious home designs with up to 5 bedrooms, huge home sites and optional casitas! From the mid-$200s (623) 398-6249
Luxurious single-family homes within the last master-planned community at the base of the McDowell Mountains! From the mid-$500,000s (480) 596-7300
TollSalesEventAZ.com/Republic Open Tuesday – Sunday 10:00 am. to 5:30 pm, and Monday 12 noon to 5:30 pm Brokers Welcome. Homes Available Nationwide. Prices Subject to Change Without Notice. Photos Are Images Only and Should Not Be Relied Upon to ConďŹ rm Applicable Features. *Offer valid for new buyers who purchase a home in a participating community in Arizona and deposit between 2/9/13 and 2/24/13, sign an agreement of sale, and close on the home. Options and maximum total dollar amount vary by community. Offers, incentives, and seller contributions vary by community and are subject to certain terms, conditions, and restrictions. Toll Brothers reserves the right to change or withdraw any offer at any time. Not valid with any other offer. See sales representative for details. This is not an offering where prohibited by law. Professional Builder Magazine, December 2012. A public report is available on the state real estate department’s website. Broker – Toll Brothers Real Estate, Inc.
THE ARIZONA REPUBLIC
Lease-back programs Filling a void in a “crazy� market BY DOLORES TROPIANO
T
oday’s record-low interest rates and home prices make it the best time in recent history to buy a new house. But selling a home at those same low market values has put the brakes on buying for many. Now, several companies have found a creative curve around this concern with what they call leaseback or trade-in programs.
How it works
The CHOICE is yours!

One example of a lease-back program is at CantaMia, a Goodyear active adult community that offers a six-year leaseback program. The builder, AV Homes, contracts with an outside agency that arranges to lease the buyer’s home for up to six years while they enjoy their new community. The buyer is guaranteed income, even if no tenant is in the home; they can choose to sell the home at any time. “This filled a void for us in this crazy market,� said Gary Sorrels, sales manager for AV Homes, Phoenix division, which includes CantaMia. “Many people want to make a decision now, but don’t want to sell their home. Instead, they want to let it appreciate a bit.� CantaMia works with a Michigan management company called Marketplace Homes. The company enters into an agreement with the builder and works with buyers anywhere in the country. They guarantee a monthly rent a little less than what could be secured on the regular market, but they handle everything including utilities.
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Pros and cons
The process has both pros and cons for homeowners. On the positive side, they can buy a home in today’s market while keeping their old home until the market heals. Additionally, they receive a monthly check from a tenant they didn’t have to find. On the negative side, the challenge for most buyers is qualifying for two mortgages, but sometimes the home they’re in is already paid off. They also might get a lower monthly rent on their home than if they handled the rental responsibilities themselves.
Local expert
Steve Rider of Keller Williams International is president of the company’s international builder trade-in program. If a buyer qualifies for the program and is interested in purchasing a new-construction home, they will enter into a three-year partnership with the buyers in which they help them lease their current home. The partnership has many ramifications, the most
prominent of which are that Rider’s team will find a leaser, screen tenants and get credit report help. “The only thing we don’t do is collect the money,� he said. Rider, who said that his team works with several national new-home builders including Fulton Homes, Taylor Morrison, Woodside Homes, Richmond American, Meritage, Pulte Homes and more, said that a lot of people ask ‘what’s the catch?’. “The first step in seeing if you qualify for the program and if it’s right for you is to contact us for a free, noobligation consultation,� he said, adding that he believes he has an advantage over out-of-state lease-back programs because he’s a local broker with extensive knowledge of the market.
The bottom line
As with any major financial decision, what works in one situation might not work in another. Experts recommend that you investigate the pros and cons of leaseback programs and apply them to your individual circumstances.
More info CantaMia: cantamia.com Keller Williams Arizona Realty, Arizona Home Trade-In Program: azeliteteam.com Marketplace Homes: marketplacehomes.com
Make the Smart Move. Buy Ours and Smart Move Advantage ÂŽ will Rent Yours.
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THE PATAGONIA RENAISSANCE AT GREER RANCH RENAISSANCE AT GREER RANCH
When you purchase a new home from Maracay Homes, Smart Move AdvantageÂŽ will guarantee the rent on your existing home for up to THREE years.
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Large home sites available (75x120), Home prices starting at $201,490
Maracay Homes Offers More Choices for a Home thatâ&#x20AC;&#x2122;s Uniquely You. Floor plans from 1,660 to 4,144 square feet Priced from the $170s to mid $300s FlexDesign options to customize your home with LivingSmartÂŽ and Energy Star features for efficiency and cost savings.
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Visit our communities in the West Valley | East Valley | Tucson Open Daily 10 a.m. to 6 p.m. | Fridays 1 p.m. to 6 p.m.
W Peoria Ave
Greer Ranch Pkwy N Reems Rd
Loop 303
W Cactus Rd
623-474-3125
â&#x20AC;&#x153;Courtland Communitiesâ&#x20AC;?
www.courtlandcommunities.com Located just east of the 303 on Cactus Road, south on Greer Ranch Parkway AR-0007938191-01
*Program offered through Smart Move AdvantageÂŽ (SMA), an independent broker. Customer must purchase a new Maracay home and meet all SMA program eligibility requirements. Prices, terms and conditions are subject to change without notice and are current as of August 2012. Maracay Homes is not responsible for mortgage programs or rates. Additional conditions, restrictions and limitations may apply. Sales by Maracay Realty, LC #538443000. Construction by Maracay Homes (ROC #172120 Residential).
AR-0007938211-01