I'm waiting right now to find out if an offer my buyer made on a home this morning has been accepted.
The place he chose -- a nice all-brick ranch in a very cute neighborhood in Granite City, IL -- is a foreclosure property. But here's the great thing about this particular house -- it's part of the Freddie Mac HomeSteps program.
Freddie Mac is a GSE -- a government sponsored enterprise -- chartered to stabilize the mortgage industry and focused on making housing more affordable. Simply put, it buys mortgages from lenders to free up money for more mortgages at the lender level.
HomeSteps is a program created by Freddie Mac to make its foreclosure properties move much more quickly so inventory can be reduced. Homesteps offers cleaner and more well-maintained homes than usual bank-owned properties and provides an opportunity for owner-occupant homebuyers to make offers before investors.
And right now HomeSteps properties are an even better deal for owner occupants. Their Summer Sales Promotion allows buyers to ask for up to 3.5 percent of their closing costs and a two-year HomeProtect warranty that covers a variety of systems in the house. The warranty program also provides discounts of up to 30 percent on new appliances for the home.
To be eligible for the summer incentives, offers must be received before July 31 and close before September 30, 2011.
If you'd like a list of HomeSteps eligible houses in St. Louis' Illinois suburbs, including Granite City, Collinsville, Belleville and other communities in Madison and St. Clair counties, get in touch with me.
Enjoy life in the (618) area code in Southwestern Illinois, St. Louis' Illinois suburbs. SEARCH FOR HOMES HERE.
LIKE MY BLOG? PLEASE SUBSCRIBE HERE.
I help good people buy and sell good homes in St. Louis' Illinois suburbs, with special emphasis on the Metro East communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy and surrounding areas in Madison County, Illinois.
Are you a teacher, firefighter, law enforcement officer, medical professional or active duty or retired military? Then ask me about Homes for Heroes, offering substantial savings on home purchases. Learn more at Homes For Heroes.
For more information or to search for homes, visit my sites at NancyMilton.com, 618Life.com, or GoshenRealtyGroup.com or send an email to me at Nancy@GoshenRealtyGroup.com. Text or call Nancy Milton Holtzscher, your Edwardsville Realtor, at 618-791-8007 any time.
REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025, 618-791-8007 (direct) 618-655-1188 (office). We're easy to find on IL-157 in Edwardsville between Pasta House Co. and Shenanigans. Each office is independently owned and operated.