Archive for April, 2009
D.R. Horton “Builders Short Sale” this weekend.
D.R. Horton is holding a “Builders Short Sale” this weekend May 2 and 3 in their River Crest subdivision located across from Riverview Golf and Country Club. While not a true short sale there still may be some real values available as they try to sell out the subdivision. 7 homes will be for sale including the model homes and price reductions and financing concessions will be released the morning of the 2nd. Not all of the homes are listed on the MLS at this time so Call or e-mail me for a complete list. Homes range in size from 2,077 sq. ft. to 2,925 sq. ft.
The key to being successful at this event is getting pre-approved through DHI financing in advance. While you are not required to use their financing to purchase the home they will be offering some pretty big incentives possibly including builder paying all closing costs and buying down your interest rate. If you are interested in getting ready to attend please call me at 530.515.9097 for complete details. I will be happy to give you some advice on how to proceed and put you in touch with preferred DHI mortgage consultant.
City of Redding DAP on Hold
The City of Redding Down Payment Assistance Program or DAP is a great way for qualifying buyers to purchase homes that they otherwise could not afford. Unfortunately the City DAP program is not accepting applications from new clients as no funding is available. Those buyers who already have a letter of eligibility from the City should not be impacted by this.
The City of Redding has indicated that funding should become available in July and buyers who have turned in applications but have not yet received eligibility letter will be first in line. They should also resume accepting new applications at that time.
What is unknown is how the program will look as the grant money has to be split up among various programs. This may result in lower DAP amounts.
If you want to take advantage of DAP funding when it is available you should start by getting pre-approved with a DAP knowledgeable lender. Contact Me for additional information on how to buy a home using DAP financing.
SoCal Home Sales Up 52% in March
Southern California has long been known as a major trend setter for the rest of the Country and real estate is no exception. I have been hearing from my San Diego Realtor connections that it has become a frenzied market in the starter home price ranges down there. Good houses are selling the day they hit MLS and generally over asking price. Many buyers are getting whiplash as they are forced to accept that the perception that they can successfully low ball offer desperate sellers gives way to the reality that they are competing with other motivated buyers on the best homes in their price range. http://tinyurl.com/dga9od
Buyers of starter homes in Shasta County are experiencing this trend first hand as the best homes sell after very little market time. Multiple offers on this type of property are once again common and sales prices are often higher than listing prices. The key to being successful in this market is to be prepared. Get preapproved on your financing and use a Realtor who stays on top of the market. If you want to learn more about buying your first home give us a call or stop by our office located at 1647 Court St., Downtown Redding at the corner of Court and Placer.
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