Builders Don't Wait for the Government...

Builders Don’t Wait for the Government…
and neither can you!

Marketplace Homes

Novi, Mich., Feb. 16 2009 / PRNewswire-FirstCall/ -- Marketplace Homes, LLC

Does the big stimulus bill that will be signed into law tomorrow put housing first? The large $15,000 tax credit has been debated and has been removed leaving only limited government help for housing.

SO WHAT DO I GET?

You get a few scraps that are left for the housing industry. FHA limits will be increased to almost $300,000 for low money down loans. If you are a first time buyer and make limited income you come out a big winner with an $8,000 tax credit. But you already are a winner. You managed to not loose equity by not buying a home over the past 5 years. Way to not do anything!

WHY REWARD FIRST TIME BUYERS?

Rewarding first time homebuyers for their crystal ball non action is similar to rewarding cash hoarders that never invested in the stock market. Why not provide all first time stock investors with an $8,000 credit to buy into wall street? What a smack across the face to all the investors that stayed in the market and stuck it out. Similarly, the 70% of Americans that are current homeowners have a strange feeling of resentment. (My loving girlfriend closed on a new home December 20th 2008 and just missed the January 1st cut off to qualify for the $8,000 credit by 10 days!)

SO THIS BILL IS BAD?

No it’s not bad, but it just doesn’t do much for housing. But here is the thing; America never needed a $15,000 tax credit for housing before and some how Real Estate has always come back. Real Estate will come back and in the mean time some great opportunities exist. Below are 3 wonderful examples of how private business can get things moving without government help.

WHAT BIG BUILDERS ARE DOING –

PULTE – Pulte didn’t wait for the government bail out. Pulte took it upon themselves to buy down a rate to 3.99%. Marketplace just sold a $305,000 home in Macomb that has a mortgage payment of only $1,400/mo. Our customer found this payment to be even better then the possible $15,000 tax credit! That rate saves the client over $130,000 over the next 30 years! BETTER THEN A BAILOUT!

LOMBARDO - Lombardo didn’t wait for government bail out. They have cut land costs to be able to deliver new construction at lower then foreclosure pricing. Would you believe that you can get a new construction 2000 sq ft home for $170k? Wow, that’s around $1,000/mo on a mortgage and that is not even a forclosure! BETTER THEN A BAILOUT!

HUNTER PASTURE - Hunter Pasture didn’t wait for a government bail out. In Novi, Knightsbridge Gate continues to sell. By renegotiating land and pricing you can be in Novi new construction starting at $250K! 4 years ago Novi for under $400K could not be found. Saving $150,000 is BETTER THEN A BAILOUT!

Those are just 3 examples of Michigan builders moving forward. So what are you doing different to take advantage of what is happening in the world? If you are a first time home buyer, good for you! For the other 70% of Americans that are current homeowners and missed the stimulus, maybe it’s time to think a little outside the box.

Would a huge hand out be nice, you bet! But, at Marketplace Homes, we believe that government can’t fix housing first, the consumer and innovative business leaders fix housing first.

Government can pass bills, but they can never out innovate American minds and business. Just because you didn’t get a hand out from the government doesn’t mean that your piece of the pie is gone.

Marketplace Homes based in Novi, Mich., is a privately held company with operations in Metro-Detroit and Metro-Chicago. In 2007 and 2008, Marketplace Homes purchased or leased hundreds of homes while generating over $18 million in new construction sales for local and national builders. During its 7-year history, the company has purchased and sold hundreds of homes. Since 2002, Marketplace Homes has been an innovator in creative Real Estate solutions running 2 distinct business models, The New Home Buyout Program and Rent-to-Own. Currently, Marketplace Homes helps to market over 50 communities in the Metro-Detroit and Metro-Chicago market through partnerships with local and national builders using the Marketplace Homes New Construction Long Term Corporate Lease Programs.

CONTACT: Mike Kalis, Vice President, Marketplace Homes, LLC., +1-248-723-6490, mike.kalis@marketplacehomes.com / site: http://www.markeptlacehomes.com/