Home | Newsletter | Advertise
loading...

Freddie Mac Offers Condo Cash for HomeSteps Properties

  • August 15th 2011

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

Freddie Mac Offers Condo Cash for HomeSteps Properties: Figure 1

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.

Freddie Mac Offers Condo Cash for HomeSteps Properties: Figure 2
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.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse