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Ryland Homes Offers Buyers Price Protection, Interest Rate Protection and Big Savings

Date: Jan. 22, 2008
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Jacksonville, FL (Jan. 21, 2008) ─ Ryland Homes has a worry-free solution for Jacksonville homebuyers who want to buy a new home, but fear prices will fall or interest rates will rise after they purchase.
 
For three days from Friday, Jan. 25 through Sunday, Jan. 27, Ryland Homes’ “Purchase Power Advantage” national sales event will offer homebuyers exceptional savings, plus the added assurance of price protection and interest rate protection on new homes built just for them.
 
With Ryland’s price protection guarantee, customers can be confident that if prices decline before settlement, Ryland will simply adjust the price.
 
Homebuyers who finance their mortgage through Ryland Mortgage Company during the sales event get the added security of a great low rate on a 30-year mortgage. Even if interest rates go up after they lock in their rate, these customers are still assured the same low rate for the life of their loan.
 
 “We asked hundreds of customers what was most important to them and they said they wanted assurances they were getting a great value and that they would be protected in the event of price or rate adjustments,” said Gerry Boeneman, Ryland Homes’ Division President. “Ryland Homes’ Purchase Power Advantage answers all three of those concerns and gives buyers the ability to get the home of their dreams – not just the home that’s the most affordable.”
 
As an added bonus during the three-day event, Ryland Homes is offering customers 50 percent off design center options worth up to $20,000 for single-family homes and $10,000 for townhomes on to-be-built homes. Ryland will also provide contributions to buyers’ closing costs.
 
Ryland’s “Purchase Power Advantage” promotion is a direct and innovative way to ease homebuyers’ chief concerns about property values and obtaining competitive financing. While many builders are dangling discounts on already built spec homes, Ryland Homes is among the first to offer the winning combination of a guaranteed low price and a low, locked-in interest rate on brand new homes personalized to buyers’ tastes. 
 
“This means you can get the home designed just for you on the homesite you choose at one of the best values in today’s competitive market,” said Boeneman. “So, you get not only the home you can afford but also the home you always dreamed of.”
 
A dominant presence in the Jacksonville market for five years, Ryland Homes is a leading national builder that has built more than 270,000 homes and financed more than 230,000 mortgages since its founding in 1967. 
 
Ryland has 11 communities in Clay, Duval and St. Johns Counties. Sales center hours are noon-6:00 p.m. on Sunday, 10:00 – 6:00 Monday through Saturday and 11:00 – 6:00 on Wednesdays.
 
For more details, and to view homes, floorplans and Ryland Homes communities near you, visit www.RylandPower.com.
 
About Ryland Homes
With headquarters in Southern California, Ryland is one of the nation’s largest homebuilders and a leading mortgage-finance company. The Company currently operates in 28 markets across the country and has built more than 270,000 homes and financed more than 230,000 mortgages since its founding in 1967. Ryland is a Fortune 500 company listed on the New York Stock Exchange under the symbol “RYL.” Previous news releases and company information may be obtained at www.ryland.com
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RE: Ryland Homes Offers Buyers Price Protection, Interest Rate Protection and Big Savings

Posted by: Giselle La Verde
Date: Apr. 1, 2008

So my question to Ryland, and to you Mr. Boenemman,  is how are you going to compensate the homebuyers at Durbin Crossing who purchased a Ryland home at a premium price.   I do not see any price protection provided to these homeowners.  You know, the ones who bought a home back in 2006 & 2007.  Your company has drastically reduced the prices of the homes in the Durbin Crossing subdivision, Jacksonville, Florida ,  and on top of that-  the homeowners paid premium fees on the CDD fees- so what you are now telling me is that we, the ones who were fools enough to buy at your premiums prices basically lost all the equity in our homes as well as ensuring that the Club House, the grounds are funded by us?  Today, 4/1/08- you are waving the CDD fees for new homeowners.  I inquired regarding this and I was told it was either that or lower the prices of the homes.  Hell, have you not done that already?  I understand that Ryland is here to make money, but have you not already done so by overpricing  your  homes in the past years?.  God forbid  if one of us unlucky fools has to sell our homes because of loss of employment, we will never make up the price differential- so what this means  is that a family will end up on the streets due to foreclosure. We, that is, the ones who paid you top price  cannot compete with what You as a Company are currently doing, lowering the prices of the homes today versus what we paid in  2006-2007.  We can never in the next 5 to 10 years ever hope in making this up.  You have literaly destroyed any hopes of us ever coming ahead., let alone even.  Now we are not talking about the lousy Investor who wanted to make a quick buck- we are talking about honest families who wanted a nice place to live- these are the people that Ryland has totally destroyed.    You know, single mothers/fathers, young families starting out for the first time or even the empty nesters-  these are the people your Company has destroyed financially.   These homeowners cannot compete and / or absorb the  50-100K + loss. 

I hope that you can honestly look at yourself as a Company and possibly look into your hearts and see if you can somehow make it up to them! 

Remember-it takes one person to tell a friend about their experience-who in turn tells another...and another....


RE: Ryland Homes Offers Buyers Price Protection, Interest Rate Protection and Big Savings

Posted by: Jack Thomas
Date: May. 9, 2008
Ryland is doing the same thing in our community as well, discounting home base rates by approximately $80,000, leaving existing homeowners in a bind, especially for those who need to sell an existing home.

RE: Ryland Homes Offers Buyers Price Protection, Interest Rate Protection and Big Savings

Posted by: Twila
Date: May. 14, 2008
This is no different than banks offering toasters for opening new accounts, or cable and phone companies offering three months free for new customers.  The existing account holders and customers don't get the new perks.  So you bought high and now homes are selling low.  Get over it.  That's the American way!

RE: Ryland Homes Offers Buyers Price Protection, Interest Rate Protection and Big Savings

Posted by: Jack Thomas
Date: Oct. 27, 2008

Hey Pal,

That's one heck on a toaster! I'm assuming you are a Ryland employee by your remarks;

Would you feel the same way if it happened to you?

Likely not. If you instantly lost $80,000 would you say "Oh well, it's the American way?"

Is the "American way ' for huge corporations to sock it to their previous customers? (simply for self preservation)

Again you are either a Ryland employee or you are 1 step removed from reality.

If you are holding Ryland stock in your portfolio or any investment in your portfolio is it the "American way now for you?

Look yoursaeld in the mirror, look at your stock portfolio, is this the "American way" for you now?


RE: Ryland Homes Offers Buyers Price Protection, Interest Rate Protection and Big Savings

Posted by: Bonnie
Date: Feb. 9, 2009

It is not Ryland's fault the real estate market went down.  They have to adjust their prices to the local market or they would be out of business. The last thing builders want to do is slash prices but it is a necessity since the housing bust.

It is sad many homebuyers bought only to have their values come down but to put the blame on Ryland is a mistake.  Try blaming all of the banks who gave out subprime loans for this mess. 


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