FOR IMMEDIATE RELEASE

Media Contact: Hunter Valmont
(904) 249-5775
hunter@huntervalmontpr.com

The Florida Times-Union – D.R. Horton/Summer Key

Millions of homeowners in today’s fast paced world have discovered the great lifestyle convenience that condominium living affords them, such as low-maintenance upkeep and no lawn care duties. Having its expert finger on the pulse of the housing market and trends, D.R. Horton is meeting growing consumer demand for affordable, luxury living with its award-winning collection of homes at Summer Key.

With local and national housing initiatives in effect, such as the Economic Stimulus Plan and the “Head Start to Homeownership” Program, buying your dream home is now easier than ever. Having sold 111 Summer Key condominiums during 2008, D.R. Horton currently has 70 highly anticipated new homes under construction. The builder estimates its delivery of more than 20 residences during summer 2009.

“We’ve ramped up our construction at Summer Key so that more first-time buyers can take advantage of the current $8000 federal tax credit, and close on their new home by the designated November 30, 2009 deadline,” said Andy Fremento, division president for D.R. Horton Jacksonville. “We believe that as we get closer to the deadline, new home inventory will become scarce. We are fast-tracking our scheduled new home starts within more residential buildings so we can continue to meet consumer demand.”

The economic stimulus plan that was signed into law on February 17 is offering qualified first-time homebuyers who purchase and close before December 1, 2009, a chance to receive up to $8,000. Unlike the $7,500 tax credit that was enacted last year, this credit does not have to be repaid.

Buyers who have not purchased a residence in the past three years are eligible for the tax credit as well, with guidelines stipulating an income of up to $75,000 for single buyers and up to $150,000 for joint and married couples.

“If you are a renter, it is a very wise decision to take advantage of the $8000 tax credit,” said Cristy Griffin, vice president of sales and marketing for D.R. Horton Jacksonville. “It is not a loan. Its purpose is to encourage homeownership, thereby stimulating our economy. If you already have filed your 2008 tax return, you still have time to amend it and file for the tax credit immediately after closing on your new home.”

In addition to the Economic Stimulus Plan, D.R. Horton’s first-time homebuyers can participate in the City of Jacksonville’s “Head Start to Homeownership” (H2H) Program. Through preferred lender DHI Mortgage, also a participating program lender, buyers can receive financial aid in the form of down payment and closing cost assistance to eligible families and individuals.

In order to qualify for the H2H program, an applicant’s total gross household income cannot exceed 80 percent of the area median income for Duval County as established by the U.S. Department of Housing and Urban Development. In addition to meeting the income criteria, applicants must have a minimum down payment of $500. The city's financial assistance will be in the form of a second or third mortgage, at zero percent interest for 15 years. Mortgage amounts range from $10,000 to $14,999.

“This is a mortgage on which the buyer does not make payments. It makes available a large amount of cash for their new home purchase,” said Griffin. “The second or third mortgage is paid back upon the sale of the home, or if an applicant ceases to occupy it as their principal residence. It is phenomenal the programs currently available for first-time buyers. Those who combine the benefits of the “Head Start to Homeownership” Program with the federal fax credit can receive $18,000 or more in assistance. Combine that with the excellent price points at Summer Key, and you have an unbelievable housing value.”

Located on Jacksonville’s Southside, Summer Key is a gated condominium community showcasing beautiful Key West architectural flair and offering fun resort-style recreation. Homes range in size from 927 to 1,145 square feet. Residences are remarkably priced from the mid-$110s, and buyers can receive a community savings package of up to $30,000.

If using one of D.R. Horton’s preferred lenders, homebuyers will receive all paid closing costs. Currently, Summer Key Homeowner’s Association fees are pre-paid by D.R. Horton for one year on limited condominiums. These are available on a first-come, first-served basis.

Nestled amid a tranquil natural setting reminiscent of a private residential enclave, Summer Key’s single-story condominiums are housed on three levels. In addition to tri-colored residential buildings with metal roof accents, buyers enjoy a well-manicured landscape and convenient sidewalks perfect for an evening stroll. Three beautiful floorplans – each marked by Caribbean interior and exterior style – are available for daily tours.

Summer Key’s exciting recreational offerings include: a beautifully decorated clubhouse marked by durable stone accents, plantation shutters and soaring ceilings with tropical fans; a spacious multi-purpose room with large, flat-screen television and a catering kitchen; billiards and media room; comfortable furnishings; business center with Internet access; sparkling pool with sundeck; relaxing hot tub; state-of-the-art fitness center; tot lot; indoor gymnasium with basketball facilities; and jogging trails.

Just one mile from Southside Boulevard, and a short distance to the diverse business, dining and retail venues of Tinseltown and St. Johns Town Center, Summer Key is quickly becoming the savvy homeowner’s “place to be.”

“Summer Key has been the most successful new home community on the Southside,” said Lauren Eastman, sales director for D.R. Horton Jacksonville. “We continue to receive a high level of home shopper interest in this unique multi-family neighborhood.”

Summer Key is located in the Duval County school district, and also central to the great professional, social and entertainment venues found in downtown Jacksonville, historic St. Augustine and the Beaches. These include: Alltel Stadium, the Baseball Grounds of Jacksonville, the Arena, St. Augustine Amphitheater, Metropolitan Park, The Jacksonville Landing and The Avenues Mall.

D.R. Horton continues to enjoy its well-earned reputation as an industry leader in innovative new home construction, land development and sales management. Its exceptional portfolio includes a diversified mix of world-class single-family residences and multi-family communities. Currently, the company builds in 27 states and 82 real estate markets, and it enjoys the number one ranking in the nation for closings by Builder magazine for the seventh consecutive year. D.R. Horton also is the number one builder in Northeast Florida, a multiple Parade of Homes™ and Laurel Award winner and a recipient of the Northeast Florida Builders Association’s (NEFBA) prestigious “Builder of the Year” award.

Summer Key is located on Jacksonville’s Southside. From J. Turner Butler Blvd., exit south onto Southside Blvd. and travel to A.C. Skinner Parkway (first traffic signal). Turn right onto A.C. Skinner and travel approximately one mile. The entrance to Summer Key is located on the left.

For more information, please call D.R. Horton new home consultants Merry McGinty and Bill Rowe at (904) 996-2625. Additional information about the builder’s exciting products and services can be found at www.drhorton.com.

For more information on the City of Jacksonville’s “Head Start to Homeownership” Program, contact William Arce at (904) 255-8276 or WArce@coj.net. More information can be found by visiting web pages for “Housing and Neighborhoods” and “Housing Services” at www.coj.net.

# # #
Thank You