Fulton Homes Provides Savvy Homebuyers With Online Tools to Help Save Money

November 5, 2009

ForeclosureCostCalculator.com Offers Comparison Guide and Calculator to Determine the True Cost of a Foreclosure

TEMPE, Ariz., Nov. 5 /PRNewswire/ -- Fulton Homes continues to pioneer the case against buying foreclosures with a new web tool, a foreclosure calculator, so that homebuyers can see how much such a home would really cost before they make a purchase. According to RealtyTrac®, the leading online marketplace for foreclosure properties, Arizona currently ranks second in foreclosures nationwide with 1 in every 53 homes in foreclosure.

Consumers can access the tool by going online to ForeclosureCostCalculator.com. Besides providing a calculator to determine the actual cost of a foreclosure, the site also offers a comparison list on foreclosures vs. new homes.

"As an Arizona based, family owned homebuilder, we want people to understand what they are getting into before they buy something they might regret for the rest of their lives," said Fulton Homes CEO Douglas Fulton. "We want to provide homebuyers with tools and information so that whatever their choice is, it is an informed one," he added.

The foreclosure calculator allows prospective homebuyers to account for various factors that affect the overall price of the home. These include: The condition of the home, legal fees and repairs. "Frequently, there are tens of thousands of dollars in upfront cash required to make the home livable," related Fulton. He points to many situations where homes have had appliances, cabinets and plumbing torn from the walls.

Fulton Homes was founded in 1975 and grew to be one of the top homebuilders and family owned businesses in Arizona. During the past year, in the face of one of the worst housing markets in US history, Fulton Homes soldiered on in a market devastated by foreclosures and short sales. Fulton Homes, which offers many homes in the $116,500- $140,000 range, was the first homebuilder to highlight the downside of foreclosures in an informational advertising campaign.

According to Phoenix housing market data guru RL Brown, Fulton Homes has captured a seven percent market share based on year-to-date permits issued. In the past 12 months, Arizona's largest privately owned homebuilder has issued 339 permits despite unemployment rates in Arizona hovering around 9.1% and economic conditions still shaky nationwide. The seven percent market share in metro Phoenix represents the best market share in the history of Fulton Homes, placing the only family-owned company second in the market according to permits issued behind only Pulte Homes/Del Webb who ranked first. Shea Homes was ranked third, Meritage Homes ranked fourth and D.R. Horton rounded out the top five.

ForeclosureCostCalculator.com can be customized to fit the parameters of any foreclosed property, and analyze such factors as exterior paint, cabinets, and termites. For more information on how to evaluate foreclosed properties, please contact a Fulton Foreclosure Specialist at 480-753-7597 or visit www.ForeclosureCostCalculator.com.

Founded in 1975, Fulton Homes is one of Arizona's largest privately owned homebuilders. Headquartered at 9140 S. Kyrene Rd. in Tempe, Fulton Homes builds affordable, high-quality single-family homes. Builder Magazine recently recognized Fulton Homes as having one of the 10 best-selling communities in America. The publication honored the Paradise at Ironwood Crossing community in the San Tan Valley where new homes are selling at a rate of 21.5 per month despite unemployment rates in Arizona hovering around 9.1% and economic conditions still shaky nationwide. To learn more about Fulton Homes, visit www.fultonhomes.com.

SOURCE Fulton Homes