Fort Wayne's Neighborhood Stabilization Program

By
Real Estate Agent with Coldwell Banker Roth Wehrly Graber RB14042341

     The city of Fort Wayne in an effort to reduce the number of foreclosures and vacant homes has taken a proactive measure to rehabilitate these properties before they become part of blighted areas.

     The city has set aside money from the federal stimulus package to incentivise investment within the city limits where foreclosure action is most prominate. Basically one can find a foreclosure in the target area, get qualified for either the lower of after improvements appraised value or actual improved cost, have a city approved developer (see list) come up with an improvement plan that is designed by you and the developer that will purchase the home, then rehab the home to your specifications (within reason, items considered to be luxury items will not be approved....do you really need a gold plated bidet?)

    Then to top it all off the city is now matching down payment money up to $15,000.....yeah that's right, $15,000...you could put up to $15000 down and have it matched dollar for dollar by the city. Don't just take my word for it, check out the city's NSP program website for more information.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Interested but not sure where to start? Look at the before and after pictures below from one of the developers model home in the program and you'll get a pretty good idea of what's possible

 

   

 

                                                     

      

 

 

 

 

 

 

    Believe it or not this IS the same home.  This is one of Gerber Builders model homes that is part of the city of Fort Wayne NSP program.

   If you enjoy all the features of city living, but desire the amenities that new construction offers, then this is a program for you. For more information or to set up an appointment to see a qualifying property call me, Brian Kuhns at (260) 438-6289 and I'd be more than happy to assist you in finding a house that you soon could be calling home

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Coldwell Banker Roth Wehrly Graber

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(260) 438-6289 or by email at bkuhns@movingindiana.com

 

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Comments (3)

Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Brian, this sounds like a terrific ploan to stabilize these neighborhoods, a win-win for all!  Fort Wayne is using their heads on this one!

Oct 31, 2009 01:37 PM
Brian Kuhns
Coldwell Banker Roth Wehrly Graber - Fort Wayne, IN
Fort Wayne Real Estate by Brian Kuhns

It is a great plan Mary...and very beneficial to the Agents and developers too!

Oct 31, 2009 01:44 PM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Brian..I have heard of this type of programs before.  Just wish we had them here.

Nov 01, 2009 11:31 AM