Freddie Mac Offers Condo Cash for HomeSteps Properties
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.
Historical trend of Freddie Mac REO inventory
To find out more about HomeSteps properties that are available in the DC area, click here.
Similar Posts:
See other articles related to: condo fees, dclofts, freddie mac, homesteps
This article originally published at https://dc.urbanturf.com/articles/blog/freddie_mac_offers_condo_cash_for_homesteps_properties/3981.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
While just a few months into the year, the prices per square foot around DC are start... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Dan Snyder donates house to charity; DC records priciest building sale since 2022; an... read »
This week's Best New Listings include an award-winning craftsman, a condo in a former... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro