NEWPORT BEACH, Calif., March 17 /PRNewswire/ -- At what just might be an indication of the tide turning for homebuilders, William Lyon Homes reports a phenomenal 39 new home sales in just three weeks at its Southern California neighborhoods. Division President, Brian Doyle noted that the company's new lower 2009 pricing, generous State and Federal Tax Credits* and FHA** loan programs have generated the increase in traffic at William Lyon neighborhoods resulting in growing sales activity and demonstrating that the housing market could be at the pivotal point to recovery.

"When the tax credits were authorized, we began to see interest among those individuals who needed to have their confidence restored in order to return back to the housing markets where they have been absent from for so long," explains Doyle. "In the past three weeks, we have experienced sustained momentum at our sales offices telling us that Southern Californians are feeling more comfortable and that the tax credits make a big difference in how they perceive real estate today. I sense we are seeing people who have waited on the sidelines for a year and they are anxious to get on with their lives, anxious to make the decision to buy now and feel good about it."

Doyle is quick to point out that increased affordability is driving first-time and move-up buyers to take advantage of these historical opportunities. "We are excited to assist potential buyers as their interest level has accelerated, moving them out of the 'wait-and-see' mode. We stand ready to help every buyer find a home they love and financing that fits their needs so they too can achieve the American dream of homeownership."

Both the State and Federal governments believe that the tax credits will spur sales, reduce inventories, stabilize prices and prompt new construction to aid in recovery of the housing industry and overall economy. The $100 million set aside for State credits is projected to cover about 10,000 homes on a first-come, first-served basis, based on when homes close escrow. "As sales continue to escalate, there is a sense of urgency for buyers to purchase now and benefit from these unheard of tax credits," adds Doyle.

To benefit from new lower 2009 pricing, generous State and Federal Tax Credits and FHA loan programs, visit a William Lyon Homes' Southland neighborhood for complete details.

An amenity-rich environment surrounds residents at the Columbus Square neighborhoods in the villages of Columbus in Tustin. Cambridge Lane's townhome-style residences start from the low $300,000s. Verandas' single-family detached floorplans present a great value at $569,990. Priced from the low $1 millions, Ciara is now selling its final two homes.

Priced from the low $200,000s, the gated Amador enclave in Rancho Cucamonga on Route 66 has attached triplex townhomes.

Priced from the low $200,000s, Adelina's townhome designs in north Fontana offer one of the most affordable new home opportunities with private recreation.

Rosabella boasts a versatile collection of townhomes amidst gated Shady Trails in north Fontana with prices starting from the low $200,000s.

Residents of Sollara and Canela at Vintner's Grove in Rancho Cucamonga enjoy gated privacy and exclusive recreation. Priced from the $300,000s, Sollara offers single-family detached homes, while the townhome style designs at Canela start from the low $200,000s.

Nestled behind dramatic entry gates, the townhomes of Serafina in Eastvale offer prices starting at $199,990.

With no Mello Roos, an extremely low 1.1% tax rate and access to great schools Vintage and Tradition at gated Arboreta offer the right financial savings in Glendora. Vintage's townhome-style designs are priced from the high $300,000s, while single-level and two-story floorplans at Tradition start from the low $600,000s.

Priced from the low $400,000s, Sunset Cove's attached floorplans in San Diego offer a central location near Mission Bay and downtown amenities.

Altair has the only new gated, attached tri-level townhomes in Santee and some of the most attainable new home opportunities in all of San Diego County at prices from the high $200,000s.

One of the last neighborhoods to be built at 4S Ranch in San Diego, Maybeck offers single-family detached designs priced from the low $600,000s.

Pasado in the Del Sur community of San Diego presents traditional single-family detached homes priced from the mid $500,000s.

*The State Tax Credit reservation is being allowed on a first-come, first-served basis, and funding is subject to be exhausted before the March 2010 deadline. William Lyon Homes is not responsible for confirming whether the state tax credit is still available, nor is giving legal, accounting or tax advice or consulting of any kind. The Federal Tax Credit applies to qualified buyers who close escrow prior to December 1, 2009. Please consult with your tax professional or attorney for complete details.

**FHA program guidelines and loan limits are subject to change. All loans subject to credit approval; restrictions may apply. Down payment, payment terms and rates vary based on market conditions and qualifying requirements.

William Lyon Homes' recent news of mounting sales activity is an early indicator that California's building industry is beginning to rebound. The company's new lower 2009 pricing coupled with the State and Federal Tax Credits* and FHA** loan programs are three positive factors for home shoppers to consider as they return back to the housing market in the weeks and months ahead.

For more information on the variety of William Lyon Homes' neighborhoods throughout Southern California, visit www.lyonhomes.com.

SOURCE William Lyon Homes

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