Printer Friendly

PRESLEY ANNOUNCES REVOLUTIONARY FIVE-YEAR LIMITED WARRANTY AND ONE-YEAR MORTGAGE PAYMENT PROTECTION PLANS

 PRESLEY ANNOUNCES REVOLUTIONARY FIVE-YEAR LIMITED WARRANTY
 AND ONE-YEAR MORTGAGE PAYMENT PROTECTION PLANS
 NEWPORT BEACH, Calif., Feb. 27 /PRNewswire/ -- Demonstrating extraordinary confidence in its product and the overall economy, two precedent-setting programs are being introduced by one of the region's largest and best-known home building firms, Presley of Southern California.
 As of Jan. 1, buyers of any Presley of Southern California home will be covered by the Presley Five-Year Limited Warranty Program, a history- making program that appears to be one of the most comprehensive ever offered by a home builder; and effective immediately, a Mortgage Payment Protection Plan, arranged by a well-known underwriter, that will make the homeowner's mortgage payments up to $2,500 per month, for up to one full year in the event of a job loss in the first year of ownership.
 The award-winning builder is initiating these unique programs at all 17 of its new-home projects, some of which are located within four master-planned communities, with the exception of the retirement community of Sun Lakes Country Club, which will participate only in the Presley Five-Year Limited Warranty Program.
 "We believe that it is time to stop avoiding the issues that have affected the economy, and in particular the home building industry, and provide the kinds of assurances the consumer needs," explained L.C. "Bob" Albertson Jr., president, Presley of Southern California. "Only a builder with Presley's strength and years of experience could be counted on to provide such exciting programs.
 "The consumer needs to be confident of two things. First, they need to believe in the quality of the product being acquired, particularly in the case of a new home which is generally the single largest purchase made by an individual. We have always believed in the integrity of our homes and are backing this belief with this unprecedented warranty program.
 "And second, the consumer must believe, as we do, that the economy will improve and there is reason for confidence and optimism."
 The revolutionary Presley Five-Year Limited Warranty Program covers most of the home's major items and systems, even built-in appliances, for a full 60 months from the close of escrow for all buyers who close escrow after Jan. 1, 1992. This is unique in the industry because it will extend the manufacturers' warranties on many items throughout the home.
 "For example," said Albertson, "if the manufacturers' warranty on your oven is one year, it's covered for another four years, for a total of five, because it is in a Presley of Southern California home. That's how strongly we believe in our homes and the materials we put in them. Presley is committed to provide the best warranty service in the industry."
 Albertson said the mortgage payment program will make the mortgage payments, up to $2,500 per month, on behalf of the home owner for up to 12 months of continuing unemployment, should the homeowner lose his or her job within the first year of home ownership. Qualification is subject to the terms of the underwriters agreement. Details of this program will be available to homebuyers at the time of purchase.
 He added that this is the best time in recent history to purchase a new home with mortgage interest rates at their lowest levels in nearly 18 years. The latest U.S. Commerce Department figures show that housing starts rose 2.6 percent in December. More importantly, the Commerce Department also reported new building permits, an indicator of future activity, jumped 5.9 percent in December. Further, optimism was expressed in a recent monthly survey by the regional Federal Reserve banks which reported that both banks and businesses "anticipate that economic conditions will improve by midyear."
 The home builder is developing its 17 new-home projects in a variety of locations throughout the Southland.
 Major projects include the master-planned community of BelTierra in West Lancaster, where Presley of Southern California is presenting the single-family homes of Andora, Cantora and Solana. The master-planned community of Horsethief Canyon Ranch, just south of Corona, features three Presley neighborhoods: Springfield, Prescott and Cherington. At The Highlands in Anaheim Hills, the builder is creating a planned community that features the attached villas of Viewpointe and Viewpointe North as well as the detached designs of Panorama, Montcrest, and Belsomet. Another key Presley project is Sun Lakes Country Club, an active-adult community in Banning, that features a selection of four new-home neighborhoods.
 Presley of Southern California is one of The Presley Companies' five divisions, which have fulfilled the housing needs of more than 36,000 families throughout the West since 1956. With numerous national and regional awards for excellence to its credit, the firm is consistently one of the top-ranking home builders in California.
 -0- 2/27/92
 /CONTACT: Joe Anguiano or Kristen Lee Stitt of the Roxburgh Agency, 714-556-4365, for Presley of Southern California/ CO: Presley of Southern California ST: California IN: CST FIN SU:


AL-JL -- LA012 -- 3090 02/27/92 08:59 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 27, 1992
Words:824
Previous Article:BURLINGTON CONSENT SOLICITATIONS EXPIRE
Next Article:AFFORDABLE HOUSING PROGRAMS OPEN DOORS TO HOMEOWNERSHIP
Topics:


Related Articles
LENNAR HOMES, BROWARD DIVISION, ADDS UNIQUE MORTGAGE PROTECTION PLAN
UTAH HOMEOWNERSHIP PROGRAM FOR LOW-INCOME FAMILIES RECEIVES FUNDING FROM THE FEDERAL HOME LOAN BANK OF SEATTLE
RTC MORTGAGE PASS-THROUGH SERIES 1992-1 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1993-S5 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Volkswagen Announces Pricing on New Passat Model
Unemployment Protection Now Available With Purchase of Warrantech's Warranty Product
Owens Corning Rolls Out Enhanced Warranty Benefits on Roofing Lines.
A happy landing; BA GIRL SAVED BY INSURANCE.
Peter Jackson column.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters