Bowie Forclosures and the Down Payment on Your Dream program

Real Estate Agent with Keller Williams Preferred Properties

The American dream of home ownership is alive and well in Gorgeous Prince Georges County.  With the Neighborhood Stabilization Program helping people with down payments and closing costs it is easier now to become a home owner.  I have had the privilege of helping several people use this program and spend less than the cost of moving into a rental unit to accomplish that goal. The caveat is that the property must be a foreclosure and the purchaser must be a first time home buyer.  That is someone who has not owned a home in the last 3 years.  Several Bowie zip codes qualify for the maximum allowable assistance of $20,000.00. 

Several people using this program have purchase properties that have appraised for 20k - 60k above the purchase price and they have gotten money to remodel the property and turn it into the home of their dreams.  From condo to mini-mansion this program works and I know because it has worked for my clients.


Comments (3)

Robert Vegas Bob Swetz
Las Vegas, NV

Veera - What is a Bowie Foreclosure? I have never heard of this term!

Dec 14, 2009 12:45 PM
Robert Vegas Bob Swetz
Las Vegas, NV

I am so sorry Veera after looking at where your from I saw (Bowie MD), I have never heard of this place!

Dec 14, 2009 12:47 PM
Veera Phillips
Keller Williams Preferred Properties - Bowie, MD
Ass. Broker, CDPE, CLHMS, WCR

Bowie is a great place to live. We are about 15 miles from Washington DC and about 15 miles from Annapolis Md.  It is small enough for horses and cows if you look on the back rds. and big enough for major shopping.  We have many million dollar subdivisions and smaller condo communities as well. Bowie like many communites has been hit by the economic down turn and the forclosure rate in some zipcodes are up.  There is a program that helps stabilize these area by giving assistance to first time home buyers. 

If you know of any investors, rents are up 14% and it is nothing to ask 1500 - 3500 for a 3 bedroom property.  We are surounded by military bases and lots of moving going on. 

Take care and make it a great day.

Dec 14, 2009 01:44 PM