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CHICAGO REAL ESTATE NEWS & MORE

FREDDIE MAC FIRST LOOK INITIATIVE OFFERS BUYERS ADVANTAGE OVER INVESTORS

FREDDIE MAC First Look Initiative is a great program offered to buyers since last year and is being utilized more than ever.  If you are considering purchasing a home at incredible prices, this program is designed to give owner-occupants first opportunity to contract on a Home Steps residence.

In the past, investors kept a close eye on new homes coming on the market at extremely low pricing, and quickly bought them before potential homeowner’s even knew they were available.  But this program gives owner occupied buyers an advantage above investors.  During the first 15 days (in Illinois), buyers have the ability to purchase a Freddie Mac HomeSteps home without competing with an investor, who typically pays cash.

HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes.  The variety of homes and locations is appealing to many buyers, therefore, this has become a popular choice.  If you are interested in securing a HomeSteps  home, start viewing incredible homes or register here for your FREE list of available residences.

 Below article is posted on the Freddie Mac website.

Freddie Mac First Look Initiative Gives Homebuyers 15 Days to Buy Homesteps® Homes Without Investor Competition

For Immediate Release

September 15, 2010
Contact: corprel@freddiemac.com
or (703) 903-3933
McLean, VA – Freddie Mac (OTC: FMCC) today announced it is expanding the Freddie Mac First Look Initiative on September 17, 2010 so any home shopper can buy a HomeSteps® home as their primary residence during the first 15 days of the property’s listing without competition from investors. HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes.

News Facts

  • The Freddie Mac First Look Initiative supports Freddie Mac’s mission to stabilize communities and foster affordable homeownership opportunities by giving homebuyers 15 days to buy a HomeSteps home as their primary residence without investor competition.
  • In Nevada, the Freddie Mac First Look Initiative offers buyers who plan to become owner-occupants a 30 day window to shop without investor competition.
  • Investment, vacation or second home purchasers are ineligible for the Freddie Mac First Look Initiative.
  • Today’s announcement builds on the national First Look effort the U.S. Department of Housing and Urban Development and National Community Stabilization Trust (NCST) launched on September 1, 2010 to provide an exclusive 12-day window to owner-occupant buyers working with Neighborhood Stabilization Programs (NSP) grantees non-profits working with NCST.
  • The Freddie Mac First Look Initiative will provide a 15-day window to buyers working with NSP and NCST affiliated groups.
  • Home shoppers should contact their local real estate broker or visit HomeSteps.com for more information about the Freddie Mac First Look Initiative.

FREDDIE MAC HAFA PROGRAM – Video Below

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September 4, 2011 - Posted by | REAL ESTATE NEWS | , , , , , , , , , , ,

2 Comments »

  1. Programs offered through your local Housing Authority could also assist
    in buying a home. Of course you’ll find

    more federal grants offered, but ones for housing, and education include the most well-known, and accessible. Maintaining your Home. You can in fact use these vouchers to acquire affordable homes at discounted prices. There are also

    private grants that you can apply for, in addition to employer grants.

    Comment by scholarship single Mom over 40 | December 26, 2012 | Reply

  2. How do you apply to be a non-profit to participate in NCST program to buy and renovate and re-sell homes?

    Comment by Chuck Omvig | March 25, 2013 | Reply


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