LGI Homes Programs Appeal to Today’s Buyer

Categories: Canyon Crossing, Creekside Village, Deer Creek, Fort Worth, Houston, LGI Homes, San Antonio, Sunrise Meadow No Comments »

By: Brook, New Homes Directory Home Buyer Blog

It’s no secret that in today’s shaky housing climate, many are shying away from buying a new home – whether they have previously owned a home or not. So in response to the plummeting numbers of new home sales, many builders have developed internal programs that cater to buyers in need of an extra hand. One such builder is LGI Homes, a Texas homebuilder responsible for some of the most tranquil, pristine communities you’ll find west of the Mississippi.

 LGI Homes Sunrise MeadowWhat types of programs do they offer? Two stand-out offers come to mind: first, a credit counseling program that provides buyers with a free credit report and mortgage analysis. The mortgage process does not begin until the buyer and consultant are both clear on the details: how much home the buyer can afford, and all other pertinent financial details. In an era where unscrupulous lending left many current and former homeowners deceived and dissatisfied, policies like these are a buyer’s dream come true.

Second, LGI Homes features a no money down offer, which allows buyers to protect their savings accounts and move them into their homes more quickly. This makes the option of paying a mortgage, versus paying a rent, a whole lot more appealing! Sound like something that’s only reserved for the upper echelon of buyers? Guess what: LGI Homes wants buyers to know that qualifying is easier than they think.

Of course, every family’s situation is different; but you’ll never know what your options are until you inquire. If you’re in the market for new homes in Texas – specifically, homes for sale in San Antonio, Houston, or Fort Worth – you may want to add an LGI Homes community to your list of visits. Contact the LGI Homes community location that interests you the most; and have fun with the process! [Read this Article]

Source: NewHomesDirectory.com

Homeowner Testimonial: Rochelle

Categories: Fort Worth, Homeowner Testimonials, LGI Homes No Comments »

“I would like to thank you for the time you took to explain the process to move forward with owning my first home. I have never had the type of service you provided to me last week. It was amazing to see that you and LGI Homes strive to help ordinary people reach their goal of owning a home. You took the time to explain to me what steps I needed to take to improve my credit score to reach that goal, and I am forever grateful! I look forward to one day owning a LGI home of my own.”

- Rochelle, Future LGI Homes Homeowner in Fort Worth, Texas

10 Companies to Watch in 2010

Categories: Canyon Crossing, Creekside Village, Deer Creek, Fort Worth, Houston, LGI Homes, News, San Antonio, Sunrise Meadow No Comments »

We single out the builders and suppliers that should make some noise this year.

By:  John Caulfield, Builder Magazine

Recessions have a way of separating winners from losers. And as the housing market inches closer to recovery, indications about which companies are likely to survive or fail become clearer.

Some companies are exploiting the economic downturn to strengthen their competitive positions. Others have used the recession to reinvent themselves. And a handful of new builders and suppliers have entered the market either to create new demand or to fill voids vacated by companies that have tripped or fallen. The following list of companies to watch this year includes builders and suppliers that are poised to take advantage of an economic upswing or, at the very least, stay ahead of the pack if the recession lingers.

LGI Homes, Conroe, Texas

ON THE MOVE. LGI Homes’ business model is to convert renters to first-time buyers with aggressive marketing and affordable products. The builder expects to close 600 homes in Texas this year.

Something unexpected happened at LGI Homes in 2009: Its revenue and closings went down for the first time in four years.

The company—which in 2008 was the only builder among the top 200 that reported sales and closings gains—closed 425 homes last year, versus 476 the year before. The problem wasn’t demand, according to president Eric Lipar. “It was just harder to get buyers approved for loans,” he says.

While closings were off, LGI Homes ended 2009 with its sixteenth consecutive profitable quarter. “We made $5 million [in 2009], our gross margins were up, and our costs per sales were down,” says Lipar.

LGI’s business model is to convert Texas renters into first-time buyers. It methodically sends out flyers to apartment dwellers within 30 miles of its subdivisions and keeps its sales offices open for nearly 12 hours each day, seven days a week.

This formula is working again at the company’s newest subdivision, which is also its fourth and is located in South Fort Worth, where LGI Homes picked up 210 completed lots on which Sovereign Bank had foreclosed. The bank not only helped finance that acquisition, but provided $3.5 million in construction loans. LGI Homes also raised $2 million from private equity sources, which Lipar says made that deal possible.

In mid-December, Lipar said LGI Homes had sold 15 homes in South Fort Worth and had 15 others under contract. He’s now projecting 600 total closings for 2010, when his company will have a full year of selling under its belt in that subdivision, and expects to add new neighborhoods in Houston and the Dallas-Fort Worth markets.  [Read the entire article.]

Source: BuilderOnline.com