MOUNTAIN RIDGE AT PANTHER VALLEY POISED TO END 2009 ON HIGH NOTE

Fast-Selling Townhome Community To Celebrate Sales and Development Milestones In Weeks Ahead

ALLAMUCHY, N.J. –- 2009 shaped up to be a banner year for Mountain Ridge at Panther Valley and the popular collection of competively-priced three-bedroom townhomes will unquestionably end it on a high note.

The new suburban community rising in the exclusive Panther Valley neighborhood in Warren County’s Allamuchy Township is poised to celebrate several significant sales and development milestones in the weeks ahead, reports its developer Baker Residential. Most notably, nearly 90% of the homes in the first two housing phases at Mountain Ridge have already been sold and the initial residents are expected to take occupancy in their magnificent new residence shortly.

“The end of 2009 is an important period for Mountain Ridge at Panther Valley for several reasons,” says Sales Representative Hollis Schilp. “The impending arrival of our first residents signifies the community is making its transformation from a constructive site to an active, bustling and lived-in neighborhood.

“And the fact we continue to record strong sales and are approaching the complete sell-out of our initial housing phases in such short order is proof there’s still a large number of buyers willing to act quickly to purchase an incredibly priced home in a beautiful suburban setting.”

Sales at Mountain Ridge have been fueled by a variety of Federal programs that add considerable value to new home purchases. This is particularly true for first-time buyers who have found the community’s approval by the Federal Housing Administration (FHA) makes homeownership extremely attainable thanks to friendly FHA financing that requires only 3.5% down.

“We’ve also started construction on the remaining townhome buildings available for sale in the first two housing phases,” adds Ms. Schilp. “As a result, we’ll have a number of homes which can be delivered in time for buyers to take advantage of the recently expanded Federal Tax Credit that provides up to $8,000 for first-time homebuyers and up to $6,500 for those who have owned their home for at least five years if they close on a new residence by June 30, 2010.”

With sales and development moving so quickly, visitors to Mountain Ridge can obtain a better sense of the comfort, charm and appeal of the neighborhood. Several site improvements are now complete, including the main entryway, the main access road and internal roads in the first two phases, providing a strong glimpse of how the community will look once finished.

Five different designs are offered at Mountain Ridge with affordable pricing starting at just $249,990. Homes range from 1,968 to 2,850 square feet and boast 2.5 baths, one-or two-car garages, as well as designer interior appointments such as walk-in closets, gourmet kitchens and full finished basements included in the purchase price.

“Mountain Ridge at Panther Valley’s housing designs fulfill a broad range of lifestyles,” says Barbara Cohen, another Baker Sales Representative. “Young couples and single-professionals appreciate the fact the spacious floorplans provide plenty of room to grow. Empty-nesters downsizing from large single-family homes are pleased to discover they don’t have to sacrifice extra space to benefit from the ease of maintenance-free living.”

Homes at Mountain Ridge have been designed to reflect the natural beauty of Panther Valley, which is defined by rolling hills and heavily wooded terrain. Each townhome building will combine design elements with country-inspired details to create streetscapes of enormous grace and flair.

“Our unique location at the top of a mountain provides panoramic views of the surrounding countryside to strengthen the tranquil, small-town environment,” adds Ms. Cohen.

The striking community is part of Panther Valley and its world-class recreational amenities. Residents will enjoy two sparkling lakes, two beautiful pools with a third to come, a wealth of tennis courts and the 18-hole Panther Valley Golf & Country Club located within the gated Panther Valley community and available on a membership-only basis.
Mountain Ridge homeowners will also appreciate the community’s convenient location, which offers a quick trip to the array of business, cultural and entertainment opportunities throughout northern New Jersey and beyond. The community is located in close proximity to a several major highways, including Routes 80, 287 and 78, as well as commuter train and bus stops.

“If its outdoor recreation they seek, Mountain Ridge is in the heart of one of New Jersey’s natural havens,” Ms. Schlip indicates. “The community lies in the shadows of the Allamuchy and Stephens Mountains, while the 70,000-acre Delaware Water Gap is nearby where fishing, boating, camping, kayaking and more can be found. “

Shopping, fine dining and entertainment are also close at hand at the Rockaway Townsquare Mall, which features several national retailers and department stores. Local shops and boutiques can also be found in historic downtown Morristown and Parsippany.

For additional information on Mountain Ridge at Panther Valley please call 908-852-0016 or visit http://Town.HomesAtMtnRidge.com. To visit, go on Route 80 West. Take exit 19 for County Highway 517 towards Hackettstown. Turn left at County Highway 517/County Road 517. Turn right at Bald Eagle Road. Proceed to gatehouse and ask for Mountain Ridge at Panther Valley.

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