This paper presents the marketing overview for a major developer of gated residential communities

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University

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Mortgage

Background

This paper presents the marketing overview for a major developer of gated residential communities. The marketing is confined on three major aims; – First to convince the potential buyers that there are many virtues to home ownership as compared to the drawbacks. Secondly, there are far much more benefits of living in gated communities as compared to non-gated ones. Third, despite controversies, observations show that it is better to buy a new home rather than a foreclosed one.

Paying a mortgage for a new home in a gated community holds more advantages as compared to paying a mortgage for a foreclosed home or a non-gated community. The aim of this paper is to explain the benefits of owning a new home in a gated community.

The mention of mortgages stirs different responses among people because to some, mortgages are efficient and faster way to own homes while to others, mortgages are associated with loss of homes, bankruptcy, and court proceedings (Adelino, Gerardi, & Willen, p.7). The 2007 to 2009 recess period will especially be remembered for the foreclosure crises that hit the U. S, U.K., and other parts of the world that had dwelled in real estate business (Adelino, Gerardi, & Willen, p. 5). The time was difficult for everyone as most homes had been sold on mortgage yet the economy slumped, and most people who had taken mortgages could not repay because of reasons such as being terminated from work, as well as the unwillingness of lenders to renegotiate the mortgages. However, all is not lost because today, more than ever, it is discovered that there are more virtues to home ownership than the slight unfortunate incidents that occurred, it all depends with the choice of the lender firm.

Virtues of home ownership with a reliable mortgager

The time to re-mortgage is now as there are many benefits that are accompanied with it and especially if these mortgages are bought from a firm that has the buyers’ interests at heart. First, the firm offers lower rates on mortgages. Worth-noting is that as much as the economy is unpredictable, it cannot be denied that at the moment, the economy is better than the 2008 recess period (Mellish & Rhoden, p. 179). Moreover, it is only fair to reduce the costs after the recent tax deductions on property ownership, and thus buyers should take advantage of the opportunity as it lasts. Second, this firm offers special discounted rates from the initial cost for potential homeowners who may prefer to make home improvements, for instance, incorporating energy technology or advanced communication gadgets. On the other hand, other lender firms may charge you higher before discounting if it is realized that you are looking forward to make further improvements (Your Mortgage, 45). Third, purchasing a home via this firm enables all the buyers to become mainstream borrowers through equity build up. This is especially beneficial for individuals who have had a bad credit history after taking a mortgage and were thus put on a higher interest rate. The firm allows such buyers to re-bargain for a better deal. Fourth, the firm provides flexible mortgage services such that one can decide to overpay, underpay, or take payment holidays depending with the individual’s income and lifestyle. Fifth, the firm provides better services as the mortgage market is very competitive and buyers should be given worthwhile services (Your Mortgage, 45).

Advantages of gated residential as compared to non-gated ones

Living in a gated community is better than living in a non-gated one because of two major reasons: first security, and second, home maintenance. The current society faces challenges as a result of increasing rate of crimes such as bribery, drug busts, and street fights (Drew & McGuigan). This is not the kind of environment that a home owner would desire to be exposed to, or worse still, for families with children. Moreover, no buyer would want a break-in to occur on the property or the home destroyed after paying dearly for the mortgage. All these negative aspects are common with the non-gated communities (Drew & McGuigan). Non-gated communities are exposed to the outside and traffic and anyone can have access at any time. Some of the people that access the non-gated communities do not have good intentions and hence subjecting the non-gated community residents to risks and hazards in relevance to crime and other social disorder aspects. On the other hand, the gated-community provided by the firm provides adequate security as any visitors or strangers to the community undergo check ups in addition to 24 hour surveillance in the community’s environs. Furthermore, there are well laid procedures for garbage collection services and compound maintenance (Drew & McGuigan).

New home vs. Foreclosed home

There is always an argument that buying a foreclosure home is better than buying a new one but in this paper, this argument is refuted. Several researches in marketing show that in fact, it is dangerous to buy foreclosed homes. The Marketing Weekly News (p. 515) strongly warns against buying foreclosed homes citing a number of pitfalls. The process of buying foreclosed homes is lengthy as there are always legal procedures to clear. The buyer has to deal with an arduous process of approval and in most cases; the building is rarely inspected for quality as it is assumed that this had already been done on the first buyer (Marketing Weekly, p. 515).

Conclusion

Potential buyers should consider purchasing their homes with this highly reputed gated residence mortgage provider. The buyer will benefit from outstanding payment modules, remarkable services, as well as be provided for a secure and comfortable home.

Works Cited

Adelino, Manuel, Gerardi, Kristopher, and Willen, Paul. Why don’t lenders renegotiate more home mortgages? Re-defaults, self-cures, and securization. Research Review, 2009, 9(4): 5-9.

The journal discusses the economic recess period of 2007 to 2009 when the foreclosures crisis hit the U.S because of failure of borrowers to repay the mortgages. However, the authors believe that the real estate market still has a chance to thrive but the lenders should be willing to renegotiate the terns directly with the borrowers as opposed to living it as a matter of policy debate. This article has been of importance to the project because of re-stating the virtues of home ownership, and also the fact that borrowers stand a chance to buy affordable mortgages if lenders can renegotiate.

Drew, Edward & McGuigan Jeffrey. Prevention of crime: An overview of gated communities and neighborhood watch. 2008. Accessed October 29, 2010 from HYPERLINK “http://www.ifpo.org/articlebank/gatedcommunity.html” http://www.ifpo.org/articlebank/gatedcommunity.html

The authors discuss the issue of gated and non-gated communities; and although they state that non-gated communities are best for social cohesion, the increasing rates of crime forces people to consider being in gated communities. The article has been of good use for the project because of emphasizing one of the key issues-the importance of gated communities over non-gated ones.

Marketing Weekly News. Business news; Fulton homes caution buyers: Foreclosures present peril to homeowners, Marketing Weekly News, 2010, November 6: p.515

The article warns against buying foreclosed homes because of the numerous perils that such ownership present to the buyer. The article illustrates this aspect by using examples from various examples in several states in the U.S. The article has been useful for the project in assisting to repute the argument that buying foreclosed homes is better than buying new homes.

Mellish, Paul and Rhoden, Maureen. Buy to let: A popular investment? Property Management, 2009, vol. 27(3): 178-190.

The authors’ main purpose was to illustrate that there is advantage in buying finished homes for the purpose of renting it to owners. The article, did not contribute much to the key issues of the project but it was useful in the introducing the overall issues of the project and enhancing the fact that there are virtues in home ownership.

Your Mortgage. Reasons to re-mortgage. Your Mortgage.co.uk. n.d: p. 4

The article gives several reasons on the virtues of home-ownership. The article specifically points out that home ownership can be advantageous or disadvantageous to the buyer depending with the terms of services of the lender firm. The article has been useful for the project in pointing out that mortgage firms can increase the mortgage market by giving favorable terms.