Below is part of an article regarding an announcement by Freddie Mac. They are offering to pay up to $1,500 is association dues if a buyer purchases a Homesteps property that has been on the market for at least 120 days. The buyer must intend to purchase this property as owner occupied. Homesteps properties are listed in the mls but can also be found on their web site: http://www.homesteps.com/featuresearch.html . For the complete article go to: http://dc.urbanturf.com/articles/blog/freddie_mac_offers_condo_cash_for_homesteps_properties/3981 . Please let me know if I can assist you in identifying these properties! Thanks, Crista : )
Freddie Mac Offers Condo Cash for HomeSteps Properties
August 15, 20110 Comments
by UrbanTurf Staff
HomeSteps, the real estate sales unit of Freddie Mac, launched an offer today that will provide eligible condo buyers (i.e. those that buy a HomeSteps condo) with up to $1,500 in association dues.
The Condo Cash program is limited to buyers who submit offers between today and November 15, 2011 and close escrows on or before December 30, 2011. The offer is valid only on HomeSteps homes that have been on the market for at least 120 days and are sold to owner-occupant buyers, so auction, sealed bid and bulk sale properties do not qualify.
If you think that offers like these from Fannie and Freddie have become a trend in recent months, you’d be right. In May, Freddie Mac announced that it was offering up to 3.5 percent in closing cost assistance and a bonus of $1,200 to the selling agent for offers on HomeSteps properties (real estate owned or REO) received prior to July 31, 2011, in an effort to boost sales this summer.
Freddie Mac’s Brad German told UrbanTurf back then that about two-thirds of HomeSteps homes are sold to owner occupants, and that there were record sales of 31,628 properties in the first quarter of 2011.
Wednesday, August 17, 2011
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