A SPECIAL PUBLICATION CREATED BY REPUBLIC MEDIA CUSTOM PUBLISHING FRIDAY, DECEMBER 07, 2012 each month, New Homes brings you the latest news about new home communities so that we can help you find a new home just-right for your family, with the amenities you’re looking for, near what’s important to you. We’ll arm you with information to help you make smart decisions and choices by discussing what types of homes builders are building, design considerations, what’s the latest when it comes to financing, and more. to suggest a topic, contact editor Paula Hubbs Cohen at Paula.Cohen@cox.net.
New Homes is a monthly section dedicated to new home communities Look for New Homes on the first Friday of each month!
Before you buy, pre-qualify Pre-qualifying for a loan puts home-buying in reach BY DOLORES TROPIANO
W
ith new home building beginning to rebound, it’s easy for eager buyers to dash out to the newest or nearest model homes. But experts advise anyone seriously planning to purchase a new home should begin the process by getting pre-qualified for a loan.
What is pre-qualifying?
Pre-qualifying is the first step in purchasing a home, said Mary Frances Coleman, a real estate attorney and broker in Scottsdale. “You can’t do anything before you take this step,” Coleman said, adding that it’s important to understand that it doesn’t guarantee that the loan will be approved by the lender. Once upon a time, getting pre-qualified meant a quick call to a bank or lender and being sent out with a blessing and ample buying power. But times have changed, and these days, being pre-qualified means proving you have the financial stability to take on a specific-sized loan.
maRaCaY Homes
Gorgeous gathering spaces
“Being pre-qualified shows the seller you are serious, that you’re not just out on a Sunday afternoon looking at homes for fun.”
Great rooms, heart-of-the-home kitchens, alfresco dining patios — oh my!
—Jay Barbour, president of V.I.P. mortgage
BY ELISE RILEY
Documentation required
“People getting ready to buy a home can make a dangerous mistake by thinking they’re pre-qualified after a five-minute conversation with a mortgage company,” said Keith Teegardin, vice president of sales for V.I.P. Mortgage Inc. in Scottsdale. “But it’s not pre-qualifying until you have shared documentation with a loan officer.” That documentation may include tax returns, paystubs, W-2 forms, bank statements, down payment information and more to ensure an individual’s credit, assets, income and job stability meet the requirements for the loan. It may also include information about whether or not the purchase is dependent on the sale of a home.
Clear financial picture
Pre-qualifying provides a buyer with a clear financial picture of their purchasing potential and clarity about the impact of that purchase on their monthly budget. “Obviously the biggest advantage is that you know exactly what you qualify for before you go out and look for a house,” said Ron Duranti, vice president and loan originator for Peoples Mortgage Company in Chandler. “You may think you can purchase a $300,000 home when in reality you only qualify for a $150,000 home. Also, people look at what they qualify for and what they are willing to pay and those are usually two different numbers.” Resources: Peoples mortgage Company peoplesmortgage.com V.I.P. mortgage Inc. vipmtginc.com
S
ay goodbye to those ‘don’t sit in there’ formal rooms — today’s homes are all about easy-flowing gathering spaces where we can live the way we want — and just maybe, put our feet on the furniture.
Let’s get together
Gathering spaces come in a variety of shapes and sizes, but most builders incorporate them in kitchen-great room combinations that serve as the heart of a home. It’s where you gather in the morning, spend evenings and weekends, and celebrate the holidays. Maracay Homes redesigned all of its floor plans in the past 18 months and is introducing a concept they call “new American spaces.” Gina Canzonetta, marketing manager for Maracay Homes, said that their buyers want to be connected and want more casual living spaces.
Making connections
Canzonetta said that a perfect example of connected spaces is a kitchen with a study or den area nearby. “That’s why the great room concept is so important in home design,” she said. “The kitchen is the center of the home, but you want to be connected with the rest of the family.” Indeed, having a gathering space encourages families to spend time with one another — it’s less about retreating to private quarters and more about staying with your loved ones. “People don’t have the opportunity to connect like they used to,” said Julie
maRaCaY Homes
Hancock, managing director of Camelot Homes. “That’s what’s great about these spaces. They encourage you to make time to spend with one another, whether it’s having a meal or enjoying a few moments together.”
TIPS TO KEEP IN MIND ABOUT HOME DESIGN
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IT’S MORE THAN STATISTICS: Consider the flow of a floor plan. sometimes, a 2,500-squarefoot home can ‘live’ larger than one that’s 3,000 square feet. Factors such as open spaces, ceiling height and windows can affect how the spaces feel.
Great for entertaining
Gathering spaces are also ideal for entertaining. Great rooms keep people where the food is — that immense kitchen island — but give them a comfortable place to sit and enjoy the festivities. “That’s the lifestyle people have now,” said Terry Lents, sales associate for Blandford Homes. “If you enjoy cooking or entertaining, you want to be where the people are. It’s kind of fun with a big screen, you can have a football party (continued on page NH5)
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THINK AHEAD: If you have young children, you’ll want spaces large enough to accommodate your future teenagers, but if your kids are getting ready to leave the nest, that might alter how you think about bedroom and bonus room placement.
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DON’T FORGET ABOUT MOTHER NATURE: Be sure to plan for outside conversation areas, fire-pits, lighting and even water features. think about how you want to enjoy those beautiful arizona winters and extend your living areas under the sun.
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Gorgeous gathering spaces
Before you buy, pre-qualify
Homebuilder Q&A
Shady tricks
Developments of the Month
New Home Communities Map
Homeowners Associations
today’s home designs are all about making connections with friends and loved ones.
Pre-qualifying puts homebuying within reach and shows you’re a serious buyer.
with edward J. Robson, president and Ceo of Robson Communities, Inc.
shade! In arizona, we all crave it. learn the best kind of trees to plant to save on your energy bills.
Check out new and growing developments from each section of the Valley.
Discover where new homes are being built, what’s nearby and price ranges.
to Hoa or not to Hoa, that is the question. the answer: it’s a lifestyle preference.
Help us spread some Holiday Cheer-ity! Feel good about sprucing up your new home because, now through the end of the year, Taylor Morrison is donating 5% of every dollar spent on design options to Phoenix Children’s Hospital.
*Additional Restrictions Apply. See Sales Associate for complete details. Taylor Morrison/Arizona, Inc., ROC # 179178B. © October, 2012, TM Homes of Arizona, Inc., AZ DRE # CO535669000. All rights reserved.
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