Welcome Freddie Mac to the Arizona Convention Center on August 7th.
The mortgage giant has a list of 135 homes that will be auctioned off. The catch is that you have to be an owner occupant. Not much of a catch. Just don't be one of those rich, mean investor types...
And, if you qualify, you can get 3% of your closing costs paid for. The real estate sales unit of Freddie Mac is named 'Home Steps', and is in charge of the event. Apparently there are about a third of the homes on the list that are set aside for first time home buyers.
Arizona received over $120 million in 2009 from the federal government to help with the Neighborhood Stabilization program. A portion of this money will go towards helping buyers at the Freddie Mac auction.
This auction has been successful in California and Las Vegas in the past. I plan on being there to watch and see the process. And maybe take a video and some pics to blog about.
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Bryan Watkins sells real estate in Mesa, Gilbert, Chandler, Tempe and the Phoenix Metro area. Search the official MLS FREE just like an agent at www.LRARealEstate.com. Thanks to Catherine Reagor of AZ Central for some information on the topic.
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