nor should we use In-House Lender ?

First, let’s look at the meaning of the word incentive.

The dictionary defines it as “a thing that urges a person on; a cause of action or effort; motive; stimulus.” In this case, the builders are providing an “incentive” for their buyers not only to make a decision to buy a new home in their community, but may link it to using their own “in-house” or preferred lender as well. Builders, however, cannot prevent you from using any lender you choose, be it your credit union or lender-cousin. They understand that some loyalties run deep. They simply are not bound to offer any of their own dollars in the form of incentive monies if you do so. Therefore, the choice will remain yours.

Why do builders sometimes “sweeten the pot”, so to speak, for buyers to use a particular lender? In my experience, builders need to try to have some “givens” and sense of accountability over the process, when they are taking a considerable amount of risk in building and upgrading a new home to a buyer’s specifications. An in-house, or preferred lender, whose first priority is its builder accounts (not, as they say in the lending industry, “spot” business), must make it their business to get buyers pre-approved in a timely fashion, educating the builder on whether it is prudent for them to take a particular home or home site off the market.

The in-house lender is usually already in the possession of all the necessary public reports, homeowner’s association paperwork (if applicable), master government appraisals, and understands the builder’s purchase agreements and addendums, so that there isn’t any last minute scrambling at closing time. The builder can hold its own lender accountable for providing the final dollars to its qualified buyers, and ultimately to itself, making it possible to lessen the “carry ” time on a new home. I call this the “well-oiled” machine. Builder sales and construction personnel, lender, design center, and ultimately the buyer, all can be on the same page at the same time, with status meetings being held on a frequent basis, so that fewer details can fall through the cracks.

In-house lenders owned by the same entity that owns a particular builder may also be a profit center, such as its design center, offering at retail what they purchase at wholesale. As with other businesses, such as car dealerships, where they hope you use their service centers and financing opportunities, this is an illustration of the free enterprise system. You still have a choice to go outside, but may not want to dismiss the incentives being offered, especially if they are financially meaningful to your bottom line.

Should you decide to use your own lender and pass on the incentives being offered by the builder you ultimately buy from, you’ll need to be especially attentive to the needs of your builder in order to provide them with the information they will need to build, change, or upgrade the new home. It will be your responsibility to make sure your loan agent calls or faxes the builder on a weekly basis, reporting on your loan status, or providing any necessary approvals for an increased loan amount should you decide to enhance your new home. When the time comes to close escrow, your lender should be able to let you know when they will have the proper loan documents in title for you to sign, based on your builder’s reports as to when the home will be complete and ready to occupy.

Whether you ultimately choose the builder’s preferred lender or cousin Larry, the key to a stress-lessened process is communication. When buyers, builders, and lenders communicate and provide documentation to one another with a “johnny on the spot” attitude, everyone wins, and finger-pointing will be eliminated at that crucial projected close of escrow, when emotions runs particularly high. It can be a thing of beauty when everyone works diligently up front to make that happen.…

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Life Continues in the All Inclusive Pointe

Seniors seeking to enjoy their retirement years free from the cares of home ownership continue to fuel the strong demand for maintenance-free living at Heritage Pointe of Teaneck, a full-service rental community for active retirees. The community reported a steady leasing activity during 2010, bringing the Teaneck community to more than 70% occupancy at year-end. “People interested generally tour the community and are impressed with the full array of services we offer,” said Community Relations Director Saundra Pomerantz. “They appreciate the size and amenities of the apartments, and the diverse population of our residents and staf

In spite of a still-sluggish housing market in northern New Jersey, Pomerantz said many retirees are placing early deposits on apartments at Heritage Pointe in anticipation of the sale of their house or condominium. “They are attracted to the benefit of full-service retirement living without the worries and expenses of maintaining a home.”

Pomerantz said that although there is limited availability for one-bedroom apartments, several spacious two-bedroom layouts are still available for immediate lease. A variety of floor plans satisfy different tastes with apartments ranging in size from 672 to 824 square feet for a one-bedroom, to more than 1,500 square feet for the largest two-bedroom model. Each apartment is equipped with a fully updated kitchen, washer and dryer, walk-in closets, large windows and well-sized bathrooms.

Full Complement of Services and Amenities

Residents at Heritage Pointe enjoy restaurant-style dining, transportation to appointments and local shopping areas, 24-hour concierge service, and weekly excursions to various cultural and recreational venues throughout the New York metropolitan area. Housekeeping service, daily fitness classes, a fitness room, and on-site wellness center and educational, cultural and social programs and most other services are included in the monthly rent.

A fully furnished guest suite is available for out-of-town family members to stay while visiting residents. Interested individuals can also choose a short-term stay option in order to sample community life before signing a lease and placing a deposit.

A Warm Family Ambiance

In addition to the tangible physical benefits of the Heritage Pointe lifestyle, according to Pomerantz: “The services and programs included in the monthly rent are appealing and many residents say that knowing there is always someone around provides a great sense of security.” In support of this, Pomerantz points to the strong family feeling among Heritage Pointe residents. Several informal clubs have been formed by those who share common interests and hobbies, such as a walking club that hikes through the woodlands that border the property, a knitting club, and the men’s and women’s poker games. Many residents have also referred their friends to the community, which further strengthens the personal connections and the continuing strong interest level in the community. Heritage Pointe offers a $2,500 referral fee to residents who refer a friend or relative who signs a lease.…

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How To Choose The Right Moving Company

When you are looking for a moving company, you should make sure that the movers offer the following services:

• Door to Door Delivery. Make sure that your moving company delivers door-to-door. Some companies will place your items in a shipping container and then you are required to hire an additional mover in your destination city to have the container brought to your new home.
• Insurance Coverage. While movers always claim to be careful, events can happen and your property may get damaged. Look for movers that offer an additional insurance policy on your goods.
• Set Billing. All too often in the moving industry, consumers are given a price for the move, and when they are billed find that the price has significantly increased. Make sure that you have the cost in writing, with no exceptions.
• Optional Packing Service. If you want to save on your moving expenses, make sure that you opt to pack your items yourself. Having the movers pack your goods can be very expensive, and unpacking will be chaotic.
• Licensed-Bonded and Insured. Make sure that the company is properly licensed, bonded and insured to work as a mover. This is especially important if the company will be moving your goods across state lines.…

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Best Cities In America To Raise A Family

There are many choices when it comes to finding the best city to raise your family. One of the best cities that comes to mind is Virginia Beach, VA. Virginia Beach offers many different opportunities for families including beaches, the ocean, nature, the military bases that are nearby as well as the fresh sea food that is available.

Another city that is excellent for raising a family is Charleston, SC. Charleston offers a wide variety of history that makes the area very appealing to many different people. The culture and friendliness of the families that live there make Charleston a very appealing place to not only visit but put down your roots and stay for a long while.

One city at the top of the best cities in america to raise a family list is Gatlinburg, TN. Gatlinburg shares their streets with many tourists throughout the year but many of them have went back home and decided to either visit again and again or to simple make the move to the beautiful city. There are many things to do while in Gatlinburg including hiking on the trails, shopping at the Tanger Mall or visiting the aquarium with the entire family.…

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American Cities With The Best Public Schools

For families planning to move across the country, one top concern is how the public schools system stacks up in comparison to others. When considering what city has the best schools, there are several that stand out.

Although the cold winters may turn some people off, Rochester, Minnesota, has one of the best public schools in the region. Sometimes called Med City because of the renowned Mayo Clinic, Rochester devotes thousands of acres for public parks and trails.

With both private and public schools consistently ranked near the top compared to the entire country, the city of West Hartford, Connecticut, is a great place for families. The proximity to both Boston and New York is also another attraction.

A southern city with plenty of high-tech jobs, Raleigh, North Carolina, also excels at all educational levels. The Wake County school district is the best in the state, plus the city offers a mild climate to enjoy plenty of public parks.

A quiet hideaway near the Beltway, the Baltimore suburb of Ellicott City offers the finest school system in Maryland. Howard County has over sixty public parks, and all the cultural attractions in the nation’s capital are only about an hour away.…

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