Right now, even though our inventory is low overall, there are many four bedroom properties in Simi Valley that are eligible for up to $200,000 in down payment assistance. All of these homes featured have been remodeled or upgraded to some degree and are not like all the other run-down, dilapidated properties we have been seeing on the market. Furthermore, none of these properties are REO's or Short Sales but actually motivated equity sellers.
The first home is in the Simi Park South tract. This remodeled home features a Gourmet Chef's Kitchen with Granite, lots of cabinets, Granite Island, Recessed Lighting, Crown Molding, New Flooring, New A/C, Smooth Ceilings, Remodeled Bathrooms and an Entertainers Pool.
This home is in the Jade Hills tract. Beautifully remodeled home on a corner lot. A New Kitchen with Granite, lots of Cabinets, New Appliances, Smooth Ceilings with Recessed Lighting, New Flooring, New Paint. There is too much to list.
The next home is in the Valley West tract. This remodeled home features a New Kitchen with custom lighting and 
Oak Cabinets, Custom Tile flooring throughout entire home, Wood Floors in the bedrooms, Crown Molding, 6 panel doors, New roof, Copper Plumbing, Newer Water Heater, New Air Conditioning and Heating. Too much more to list.
The last two are in the Sunkist tract.
This home is remodeled and offers Granite in the kitchen and the Bathrooms, New Paint inside and out, Smooth Ceilings, New Carpet, Newly Landscaped and New Central Air and Heat.
The Last home is offers a New Water Heater, New Air Conditioning and Heating, Newer Roof, Newer Master Shower, Newer Windows and some Newer Appliances.
The maximum home price and City subsidy limits appear below:
|
Bedroom Size |
Maximum Market Purchase Price |
Per Bedroom Subsidy Limits |
Maximum Affordable Sales Price |
|
1 |
$206,700 |
$50,000 |
$156,700 |
|
2 |
$280,950 |
$100,000 |
$180,950 |
|
3 |
$349,300 |
$150,000 |
$199,300 |
|
4 |
$418,600 |
$200,000 |
$218,600 |
The City of Simi Valley offers a First-Time Home Buyer Assistance Program to qualified first-time homebuyers who wish to purchase their first home in Simi Valley. I like this program because the Simi Valley city administrators for this program are not only the easiest ones to reach but they are also some of the friendliest ones to talk to and deal with.
The property may be a detached or an attached single-family home, a condominium, or a town house. The program is available to those who have not owned a home in the last three years. Single parents who owned a home while married and displaced homemakers may qualify even if they owned a home in the previous three years.
- Program eligibility will be based on total household income, a housing cost ratio not to exceed 35%, and a debt-to-income ratio not to exceed 45%. Housing costs include principal and interest, property taxes and insurance, private mortgage insurance, homeowner association dues, if any, and a utility allowance.
- The primary loan must be a fully amortized loan provided by a bank, savings and loans, mortgage banker or other institutional lender. The City will not allow balloon payments or stated income loans for the first trust deed.
- Buyers must occupy the unit as their primary residence.
- A portion of the proposed $50,000 per bedroom subsidy may be used for necessary repairs to bring the property into compliance with the City's Housing Quality Standards (HQS). The maximum home price and City subsidy limits appear below:
http://www.simivalley.org/index.aspx?page=259 is the website for further information.
All of these listings are currently active as of 7/3/2010 and permission given courtesy of Realty Executive So Cal, Prudential California Realty and Prime Real Estate to display all the above properties.
I personally have placed some wonderful first time buyer clients in these programs and I always hear, "why have I never heard of this program before"? "For what I pay in rent, I can own a home"?
Although these are not the only homes available today it is just a few great examples. If there is any interest in further understanding this program, feel free to contact me Ken Barker of Coldwell Banker Residential at 805.2174183, or ken4homes@earthlink.net.
It is only a phone call or an email.
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