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Real Estate

K. Hovnanian program an opportunity for buyers

Special Sections correspondent
Published:   |   Updated: March 22, 2013 at 12:33 PM

Can you hear it? That's opportunity knocking for K. Hovnanian home buyers.

Opportunity Knocks, a new incentive program from the home builder, features inventory homes "priced right for the market and ready for you to move into," says George Schulmeyer, president of K. Hovnanian's Tampa division. "These homes are priced at an incredible value."

Through today, the home builder is offering savings on move-in ready and yet-to-be-built homes and incentives such as 100 percent financing, 6 percent toward closing costs or a permanent interest rate reduction.

With 11 new floor plans that allow families to not only build their dream homes but own a home centered around efficiency and flexibility, there's little reason not to go shopping, Schulmeyer says.

"We spent nearly a year researching and conducting focus groups to determine what features home buyers wanted in their homes," he says. "These new designs reflect those wishes."

Schulmeyer says multipurpose rooms were among the features home buyers wanted most, such as having the option to forego a formal living room and make it a den or office. Space to hide backpacks and stuff families on the go use daily also was high on the wish list, he adds.

"The bottom line was that families want better value for their square footage, asking that the front of their homes look special and unique, while foregoing details inside they can add later, such as crown molding."

Schulmeyer says the new designs also carry the national certification for efficiency - the Energy Star rating.

To earn the certification, K. Hovnanian had to meet guidelines for energy efficiency set by the EPA, build homes that are at least 15 percent more energy efficient than those built following earlier codes and include additional energy-saving features that result in homes that are as much as 30 percent more efficient than typical ones.

Among the features that boost energy efficiency for the K. Hovnanian homes are effective insulation, high-performance windows, tight construction, ducts to reduce leaks and efficient heating and cooling equipment.

Every K. Hovnanian home will be inspected and certified to meet the Energy Star program's strict guidelines, Schulmeyer adds.

Now that K. Hovnanian has made its homes more flexible and energy efficient, officials want to help buyers get into the homes. To that end, qualified home buyers can apply 6 percent of the home cost toward closing costs. On a $250,000 home, this can save a buyer about $15,000 in out-of-pocket expenses.

Buyers also can choose to have the interest rate on their mortgage permanently bought down.

"Based on a $250,000 mortgage, this option can save a homeowner over $40,000 during a 30-year mortgage," Schulmeyer says.
In addition, K. Hovnanian offers mortgage payment protection insurance.

"If a K. Hovnanian homeowner loses his or her job within the first two years after buying the home, our payment protection insurance will cover up to $2,000 of the principal and interest for up to six months," he says.

Plus, the economic stimulus package gives those who haven't owned a home within the past three years the opportunity to receive an $8,000 tax credit.

"And yes, this can be combined with our other incentives," Schulmeyer says.

K. Hovnanian Homes is celebrating 50 years of helping families build their dream homes.

"We are still out there still building neighborhoods and our mortgage company is still lending money. And people are still moving into the homes of their dreams at prices they could have only dreamed about in years past."

K. Hovnanian communities in the Tampa Bay area include Spring Ridge in Brooksville; Silverado Ranch in Zephyrhills; LakeShore Ranch in Land O' Lakes; Lakeside Preserve in Parrish; The Reserve at Meadow Oaks in Hudson; FishHawk Ranch Garden District in Lithia; South Fork in Riverview; Highland Park in Tampa; and Longleaf in Trinity.

Visit www.khov.com/tampa or call 1-877-669-5468 to learn more.

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