Real Estate Professionals Redding

Just in case you did not see the headline on the local page of today’s newspaper, and why would you? Does anyone actually get the paper anymore? 75% ads and 25% “news”! Anyway, the article notes that Shasta County home affordability has reached the highest level in more then four years. The combination of mid-2004 level home prices combined with very low interest rates has made home buying a realistic option for many in our community who may have thought that they had missed the boat a couple of years ago. The article goes on to quote Dave Forseth from the City of Redding DAP program regarding the influx of buyers who qualify and are using down payment assistance financing. If you qualify, buying a home using DAP financing can result in some pretty low monthly house payments.

For example, we have a home listed for sale in the Parkview Neighborhood which is one of the DAP plus neighborhoods. It is one of the homes built by New Urban Builders in 2005 as part of a neighborhood redevelopment project (watch a YouTube video of the home). 

If you were to buy this home using DAP plus financing and qualified for the $60,000 down payment assistance loan with the required 3%, $4,935 down payment your total monthly payment, including taxes and insurance would only be about $790 per month. Probably less than what you now pay in rent!

Keep in mind that you need to enroll and qualify for the DAP program before you make an offer to purchase a home so it is very important that you do so before shopping for a home. The best way to do this is to start at a good lender who is familiar with the program. Feel free to call or e-mail for more information, we will be glad to help.

As first time buyers agents we are very excited about the recent increase in home affordability. We have many clients who have already taken advantage of this unique moment in time to better their lives and look forward to being of assistance to anyone interested in taking this step in the future.