Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

City of Boulder Affordable Homeownership Program – Realtor

An explanation of the program for realtors. Visit www.BoulderAffordablHomes.com or call 303-441-3157 ext 2 for more information and to see when this presentation will be presented live in Boulder Colorado.
by

Eric Swanson

on 19 July 2012

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of City of Boulder Affordable Homeownership Program – Realtor

Meet Brandon
He loves Boulder
mountains
restaurants
hippies
He wants to buy a home in Boulder
$200,000
She tells him the price of Boulder homes
1 bed
1 bath
He calls Ashley, a Boulder real estate agent
They go their separate ways
I can't afford that!
Me too.
Sorry.
This does not need to be the end
Problem
Ashley tells him about the City's Homeownership Program
The city has a program with homes at below market prices - affordable prices
I am going to be renting forever
Lost
commission
Lost
referals
Lost
relationship
Lost chance to help with a dream
Solution
1 bed, 1 bath
condo $96,000
3 bed, 3 bath
townhome $208,000
2 bed, 2 bath
condo $154,000
Govenment program. #&!*%!
Government program. What's the "catch?"
There are some program requierments. However, you should have no problem.
Income Limits(Annual Gross)
Asset Limits
Liquid Asset Limits for one-person House Hold
Middle Income $140,000
Recently divorced $ 85,000
Retired $ 85,000
Permanently disabled $140,000
Low to Moderate Income $ 55,000

For each additional member add $15,000

Some retirement assets and down payment funds exempt
Within income and asset limits
Qualify for a loan
Agree to restrictions
Requirement to live in the home
Limited appreciation/max re-sale price
Sell to program certified buyer
Restriction on homes
No problem!
I wish I
earned $52k
Middle Income
property listings
1 person hh $76,410
2 person hh $87,340
3 person hh $98,280
4 person hh $109,090
5 person hh $117,930
Low to Moderate
Income property listings
1 person hh $52,070
2 person hh $59,510
3 person hh $66,950
4 person hh $74,380
5 person hh $80,340
I am under
these limits
Marketing 101:
Solve the customers' problem

Is this going to be a hassle for me?
Similar to most real-estate transactions
Buying and selling Affordable Homes
Like a regular deal
Standard contract
Inspection
Negotiate price down
30 day closing schedule
Different than a regular deal
2.5% max commission (1.25%/each)
30 day marketing period (no contracts)
Max price can't sell above
Sell only to income qualified households
That all sounds good . . .
. . . well, except the commission part
City Marketing Support
City marketing support
List home where income qualified buyers look - our web site
Weekly marketing e-mail
Quarterly open house events
Present property at program orientations
Various activities throughout the year to drive people to the program
BoulderAffordableHomes.com
303-441-3157 ext 2
Questions
But wait . . . there is more
Down payment Assistance
3-5% Grant – help people with minimal assets to cover minimum down payment and closing costs
House to Homeownership (H2O) – Shared appreciation loan on market rate homes (non Permanently Affordable homes)
Homes all
over Boulder
City of Boulder Homeownership Program
Beth Roberts
Homeownership Program Coordinators
Eric Swanson
Full transcript