They're back: Boomerangers returning to housing market

Many former homeowners could start buying again this year and give metro Phoenix's housing market a much-needed boost.

They are called boomerang buyers because they were thrown out of the mortgage market after foreclosures or short sales during the crash but now can qualify for a home loan again.

Most lenders require a seven-year sitting out period for borrowers who default on home loans. That waiting period is over this year for the first wave of people to lose houses during the crash.

Read more...  http://www.azcentral.com/story/money/real-estate/catherine-reagor/2015/02/09/back-boomerangers-returning-housing-market/23129429/

New mortgage rules help millennial home buyers

First-time home buyers, many of them millennials, will receive some long-awaited mortgage assistance this year thanks to recent moves in Washington.

The administration earlier this month cut the premium that borrowers with a Federal Housing Administration loan must pay for mortgage insurance to 0.85% from 1.35%. The half a percentage point reduction will reduce the cost of the average FHA loan by about $1,000 per year.

Read more...  http://bit.ly/1zXi3uK?cc=664ff2651a1f317875c94aa4db6647a8

Marketing to millennials requires empathy

The average age of a Realtor is currently 57, and members of the millennial generation are between 18 and 34 years old. Working with these people (and they are people, not kids) requires understanding and interacting in ways you might not understand.

My advice to you is to spend some time with a millennial so you get beyond the hype and into their heads.

Read more...  http://www.inman.com/2015/01/09/marketing-to-millennials-requires-empathy/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inmannews+%28Inman+News+-+Headlines%29&utm_content=FaceBook

Will Added Competition Threaten First-Time Homebuyers?

First-time homebuyers, as any agent knows, are one of the most important demographics to a healthy real estate market, and the increasing market share of first-time homebuyers has been one of the many positive developments of the housing recovery heading in to 2013.  Read more...  http://chicagoagentmagazine.com/will-added-competition-threaten-first-time-homebuyers/?om_rid=AADuC-&om_mid=_BQIKEB8wXBjN4&om_ntype=REBACHSWeekly

Will Added Competition Threaten First-Time Homebuyers?

First-time homebuyers, as any agent knows, are one of the most important demographics to a healthy real estate market, and the increasing market share of first-time homebuyers has been one of the many positive developments of the housing recovery heading in to 2013.  Read more...  http://chicagoagentmagazine.com/will-added-competition-threaten-first-time-homebuyers/?om_rid=AADuC-&om_mid=_BQIKEB8wXBjN4&om_ntype=REBACHSWeekly

$150,000 grant from bank to help first-time homebuyers in Chandler

The partnership between Chandler and the Newtown Community Development Corp., in working to put first-time homebuyers into empty houses, got a boost recently.

Newtown, the Tempe-based non-profit organization that administers much of Chandler’s neighborhood stabilization efforts, received a $150,000 Priority Markets Grant Friday from Wells Fargo bank. The money will be used to bolster the down-payment assistance program for first-time buyers and help set up a rotating loan fund for repairs to existing homes in the program.

Newtown Executive Director Allen Carlson said $100,000 of the money would be combined with $200,000 in existing funds for down-payment assistance. The remaining $50,000 from the grant would start the loan fund.

Read more: $150,000 grant from bank to help first-time homebuyers in Chandler

$150,000 grant from bank to help first-time homebuyers in Chandler

The partnership between Chandler and the Newtown Community Development Corp., in working to put first-time homebuyers into empty houses, got a boost recently.

Newtown, the Tempe-based non-profit organization that administers much of Chandler’s neighborhood stabilization efforts, received a $150,000 Priority Markets Grant Friday from Wells Fargo bank. The money will be used to bolster the down-payment assistance program for first-time buyers and help set up a rotating loan fund for repairs to existing homes in the program.

Newtown Executive Director Allen Carlson said $100,000 of the money would be combined with $200,000 in existing funds for down-payment assistance. The remaining $50,000 from the grant would start the loan fund.

Read more: $150,000 grant from bank to help first-time homebuyers in Chandler

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

Audit: $513 mil in IRS homebuyer credits questioned

WASHINGTON - The Internal Revenue Service has paid out more than a half-billion dollars in homebuyer tax credits to people who probably didn't qualify, a government investigator said Friday.

Most of the money - about $326 million - went to more than 47,000 taxpayers who didn't qualify as first-time homebuyers because there was evidence they had already owned homes, said the report by J. Russell George, the Treasury's inspector general for tax administration. Other credits went to prison inmates, taxpayers who bought homes before the credit was enacted and people who did not actually buy homes.

Friday's report is the latest in a series of audits George has conducted on the homebuyer tax credit. It says the agency paid out $513 million in questionable claims for the homebuyer tax credit.

"The IRS has taken positive steps to strengthen controls and help prevent the issuance of inappropriate homebuyer credits," George said. "However, many of the actions occurred after hundreds of thousands of homebuyer credits had already been issued, including fraudulent and erroneous credits totaling millions of dollars."

The popular credit provided up to $8,000 to first-time homebuyers and up to $6,500 to qualified current owners who bought another home during parts of 2009 and 2010.

IRS spokeswoman Michelle Eldridge said the agency worked hard to enforce a complicated tax credit that provided nearly $29 billion to more than 4 million taxpayers. The agency audited nearly 448,000 returns and blocked or denied nearly 426,000 questionable claims, she said.

In all, the agency's enforcement efforts saved more than $1.3 billion and identified more than 200 criminal schemes, she said.

The tax credit for first-time homebuyers was part of the economic-recovery package enacted in 2009. In November 2009, Congress extended the credit and expanded it to longtime owners who bought new homes.

by Stephen Ohlemacher Associated Press Apr. 16, 2011 12:00 AM




Audit: $513 mil in IRS homebuyer credits questioned

First-time homebuyers get a break in Chandler

It has been more than a year since Ron Baldenegro got involved with Chandler's First Time Homebuyer's Program.

In that time, he has addressed some credit issues, gone through financial and homeowners counseling and dealt with a real-estate agent to find a house. But it will all be worth it to have a home with a yard where his grandkids can play.

"I need to get out of the apartment," Baldenegro said. "I have my daughter and grandkids living with me. I wanted to have some place where the grandkids could run in the backyard and play. You can't really do that in an apartment complex."

Since the program began in early 2009, 11 homes that were empty are now filled, and the program could result in as many as 30 families buying homes. While that's not a huge number in light of the glut of vacancies created by the economic and housing crisis, it's significant to the neighborhoods where those homes are located.

Chandler's First Time Homebuyer's Program uses federal money to purchase and rehabilitate empty homes and sell them to qualified buyers. The city works in partnership with Newtown Community Development Corp., a non-profit organization that administers the program and operates the land trust that helps keep the homes affordable.

Chandler Neighborhood Resources Director Jennifer Morrison said the partnership with Newtown has made the program work for the city.

In addition to preparing the potential homeowners to buy, Newtown maintains a relationship with them after they move in to make sure the properties are being maintained and the families are adjusting to the responsibility of home ownership.

"It's not the kind of program where you help somebody buy a house and it's finished," Morrison said. "It's an ongoing relationship with a client so they can become an active member of their community and everybody benefits. It's such a great match for Chandler."

Baldenegro praised the program and the way it's administered.

"They went through all the steps one by one as far as starting at the orientation meeting and hooking you up with someone to help you," Baldenegro said. "I had some things to clean up, as far as my credit goes, but they helped me all along the way to get me to where I am at right now to be able to purchase this house."

Baldenegro and his family are looking at moving into their home near McQueen and Frye roads in October or November. He has secured a loan for the house - Newtown holds the land the homes sit on in a trust so the buyer only has to pay for the structure - and it is being rehabilitated. All homes purchased through the program undergo some work to make sure the homeowner starts with a clean slate.

"It didn't look like it needed a whole lot of work to me," Baldenegro said. "But they don't want the people moving into the house to have any problems with it. It's in a great neighborhood and it's not too far from work. I'm very excited. This will be my first house."

by Weldon B. Johnson The Arizona Republic Aug. 30, 2010 12:00 AM



First-time homebuyers get a break in Chandler

First-time homebuyers get a break in Chandler

It has been more than a year since Ron Baldenegro got involved with Chandler's First Time Homebuyer's Program.

In that time, he has addressed some credit issues, gone through financial and homeowners counseling and dealt with a real-estate agent to find a house. But it will all be worth it to have a home with a yard where his grandkids can play.

"I need to get out of the apartment," Baldenegro said. "I have my daughter and grandkids living with me. I wanted to have some place where the grandkids could run in the backyard and play. You can't really do that in an apartment complex."

Since the program began in early 2009, 11 homes that were empty are now filled, and the program could result in as many as 30 families buying homes. While that's not a huge number in light of the glut of vacancies created by the economic and housing crisis, it's significant to the neighborhoods where those homes are located.

Chandler's First Time Homebuyer's Program uses federal money to purchase and rehabilitate empty homes and sell them to qualified buyers. The city works in partnership with Newtown Community Development Corp., a non-profit organization that administers the program and operates the land trust that helps keep the homes affordable.

Chandler Neighborhood Resources Director Jennifer Morrison said the partnership with Newtown has made the program work for the city.

In addition to preparing the potential homeowners to buy, Newtown maintains a relationship with them after they move in to make sure the properties are being maintained and the families are adjusting to the responsibility of home ownership.

"It's not the kind of program where you help somebody buy a house and it's finished," Morrison said. "It's an ongoing relationship with a client so they can become an active member of their community and everybody benefits. It's such a great match for Chandler."

Baldenegro praised the program and the way it's administered.

"They went through all the steps one by one as far as starting at the orientation meeting and hooking you up with someone to help you," Baldenegro said. "I had some things to clean up, as far as my credit goes, but they helped me all along the way to get me to where I am at right now to be able to purchase this house."

Baldenegro and his family are looking at moving into their home near McQueen and Frye roads in October or November. He has secured a loan for the house - Newtown holds the land the homes sit on in a trust so the buyer only has to pay for the structure - and it is being rehabilitated. All homes purchased through the program undergo some work to make sure the homeowner starts with a clean slate.

"It didn't look like it needed a whole lot of work to me," Baldenegro said. "But they don't want the people moving into the house to have any problems with it. It's in a great neighborhood and it's not too far from work. I'm very excited. This will be my first house."

by Weldon B. Johnson The Arizona Republic Aug. 30, 2010 12:00 AM



First-time homebuyers get a break in Chandler

First-time homebuyers get a break in Chandler

It has been more than a year since Ron Baldenegro got involved with Chandler's First Time Homebuyer's Program.

In that time, he has addressed some credit issues, gone through financial and homeowners counseling and dealt with a real-estate agent to find a house. But it will all be worth it to have a home with a yard where his grandkids can play.

"I need to get out of the apartment," Baldenegro said. "I have my daughter and grandkids living with me. I wanted to have some place where the grandkids could run in the backyard and play. You can't really do that in an apartment complex."

Since the program began in early 2009, 11 homes that were empty are now filled, and the program could result in as many as 30 families buying homes. While that's not a huge number in light of the glut of vacancies created by the economic and housing crisis, it's significant to the neighborhoods where those homes are located.

Chandler's First Time Homebuyer's Program uses federal money to purchase and rehabilitate empty homes and sell them to qualified buyers. The city works in partnership with Newtown Community Development Corp., a non-profit organization that administers the program and operates the land trust that helps keep the homes affordable.

Chandler Neighborhood Resources Director Jennifer Morrison said the partnership with Newtown has made the program work for the city.

In addition to preparing the potential homeowners to buy, Newtown maintains a relationship with them after they move in to make sure the properties are being maintained and the families are adjusting to the responsibility of home ownership.

"It's not the kind of program where you help somebody buy a house and it's finished," Morrison said. "It's an ongoing relationship with a client so they can become an active member of their community and everybody benefits. It's such a great match for Chandler."

Baldenegro praised the program and the way it's administered.

"They went through all the steps one by one as far as starting at the orientation meeting and hooking you up with someone to help you," Baldenegro said. "I had some things to clean up, as far as my credit goes, but they helped me all along the way to get me to where I am at right now to be able to purchase this house."

Baldenegro and his family are looking at moving into their home near McQueen and Frye roads in October or November. He has secured a loan for the house - Newtown holds the land the homes sit on in a trust so the buyer only has to pay for the structure - and it is being rehabilitated. All homes purchased through the program undergo some work to make sure the homeowner starts with a clean slate.

"It didn't look like it needed a whole lot of work to me," Baldenegro said. "But they don't want the people moving into the house to have any problems with it. It's in a great neighborhood and it's not too far from work. I'm very excited. This will be my first house."

by Weldon B. Johnson The Arizona Republic Aug. 30, 2010 12:00 AM



First-time homebuyers get a break in Chandler

First-time homebuyers get a break in Chandler

It has been more than a year since Ron Baldenegro got involved with Chandler's First Time Homebuyer's Program.

In that time, he has addressed some credit issues, gone through financial and homeowners counseling and dealt with a real-estate agent to find a house. But it will all be worth it to have a home with a yard where his grandkids can play.

"I need to get out of the apartment," Baldenegro said. "I have my daughter and grandkids living with me. I wanted to have some place where the grandkids could run in the backyard and play. You can't really do that in an apartment complex."

Since the program began in early 2009, 11 homes that were empty are now filled, and the program could result in as many as 30 families buying homes. While that's not a huge number in light of the glut of vacancies created by the economic and housing crisis, it's significant to the neighborhoods where those homes are located.

Chandler's First Time Homebuyer's Program uses federal money to purchase and rehabilitate empty homes and sell them to qualified buyers. The city works in partnership with Newtown Community Development Corp., a non-profit organization that administers the program and operates the land trust that helps keep the homes affordable.

Chandler Neighborhood Resources Director Jennifer Morrison said the partnership with Newtown has made the program work for the city.

In addition to preparing the potential homeowners to buy, Newtown maintains a relationship with them after they move in to make sure the properties are being maintained and the families are adjusting to the responsibility of home ownership.

"It's not the kind of program where you help somebody buy a house and it's finished," Morrison said. "It's an ongoing relationship with a client so they can become an active member of their community and everybody benefits. It's such a great match for Chandler."

Baldenegro praised the program and the way it's administered.

"They went through all the steps one by one as far as starting at the orientation meeting and hooking you up with someone to help you," Baldenegro said. "I had some things to clean up, as far as my credit goes, but they helped me all along the way to get me to where I am at right now to be able to purchase this house."

Baldenegro and his family are looking at moving into their home near McQueen and Frye roads in October or November. He has secured a loan for the house - Newtown holds the land the homes sit on in a trust so the buyer only has to pay for the structure - and it is being rehabilitated. All homes purchased through the program undergo some work to make sure the homeowner starts with a clean slate.

"It didn't look like it needed a whole lot of work to me," Baldenegro said. "But they don't want the people moving into the house to have any problems with it. It's in a great neighborhood and it's not too far from work. I'm very excited. This will be my first house."

by Weldon B. Johnson The Arizona Republic Aug. 30, 2010 12:00 AM



First-time homebuyers get a break in Chandler

First-time homebuyers get a break in Chandler

It has been more than a year since Ron Baldenegro got involved with Chandler's First Time Homebuyer's Program.

In that time, he has addressed some credit issues, gone through financial and homeowners counseling and dealt with a real-estate agent to find a house. But it will all be worth it to have a home with a yard where his grandkids can play.

"I need to get out of the apartment," Baldenegro said. "I have my daughter and grandkids living with me. I wanted to have some place where the grandkids could run in the backyard and play. You can't really do that in an apartment complex."

Since the program began in early 2009, 11 homes that were empty are now filled, and the program could result in as many as 30 families buying homes. While that's not a huge number in light of the glut of vacancies created by the economic and housing crisis, it's significant to the neighborhoods where those homes are located.

Chandler's First Time Homebuyer's Program uses federal money to purchase and rehabilitate empty homes and sell them to qualified buyers. The city works in partnership with Newtown Community Development Corp., a non-profit organization that administers the program and operates the land trust that helps keep the homes affordable.

Chandler Neighborhood Resources Director Jennifer Morrison said the partnership with Newtown has made the program work for the city.

In addition to preparing the potential homeowners to buy, Newtown maintains a relationship with them after they move in to make sure the properties are being maintained and the families are adjusting to the responsibility of home ownership.

"It's not the kind of program where you help somebody buy a house and it's finished," Morrison said. "It's an ongoing relationship with a client so they can become an active member of their community and everybody benefits. It's such a great match for Chandler."

Baldenegro praised the program and the way it's administered.

"They went through all the steps one by one as far as starting at the orientation meeting and hooking you up with someone to help you," Baldenegro said. "I had some things to clean up, as far as my credit goes, but they helped me all along the way to get me to where I am at right now to be able to purchase this house."

Baldenegro and his family are looking at moving into their home near McQueen and Frye roads in October or November. He has secured a loan for the house - Newtown holds the land the homes sit on in a trust so the buyer only has to pay for the structure - and it is being rehabilitated. All homes purchased through the program undergo some work to make sure the homeowner starts with a clean slate.

"It didn't look like it needed a whole lot of work to me," Baldenegro said. "But they don't want the people moving into the house to have any problems with it. It's in a great neighborhood and it's not too far from work. I'm very excited. This will be my first house."

by Weldon B. Johnson The Arizona Republic Aug. 30, 2010 12:00 AM



First-time homebuyers get a break in Chandler

First-time homebuyers get a break in Chandler

It has been more than a year since Ron Baldenegro got involved with Chandler's First Time Homebuyer's Program.

In that time, he has addressed some credit issues, gone through financial and homeowners counseling and dealt with a real-estate agent to find a house. But it will all be worth it to have a home with a yard where his grandkids can play.

"I need to get out of the apartment," Baldenegro said. "I have my daughter and grandkids living with me. I wanted to have some place where the grandkids could run in the backyard and play. You can't really do that in an apartment complex."

Since the program began in early 2009, 11 homes that were empty are now filled, and the program could result in as many as 30 families buying homes. While that's not a huge number in light of the glut of vacancies created by the economic and housing crisis, it's significant to the neighborhoods where those homes are located.

Chandler's First Time Homebuyer's Program uses federal money to purchase and rehabilitate empty homes and sell them to qualified buyers. The city works in partnership with Newtown Community Development Corp., a non-profit organization that administers the program and operates the land trust that helps keep the homes affordable.

Chandler Neighborhood Resources Director Jennifer Morrison said the partnership with Newtown has made the program work for the city.

In addition to preparing the potential homeowners to buy, Newtown maintains a relationship with them after they move in to make sure the properties are being maintained and the families are adjusting to the responsibility of home ownership.

"It's not the kind of program where you help somebody buy a house and it's finished," Morrison said. "It's an ongoing relationship with a client so they can become an active member of their community and everybody benefits. It's such a great match for Chandler."

Baldenegro praised the program and the way it's administered.

"They went through all the steps one by one as far as starting at the orientation meeting and hooking you up with someone to help you," Baldenegro said. "I had some things to clean up, as far as my credit goes, but they helped me all along the way to get me to where I am at right now to be able to purchase this house."

Baldenegro and his family are looking at moving into their home near McQueen and Frye roads in October or November. He has secured a loan for the house - Newtown holds the land the homes sit on in a trust so the buyer only has to pay for the structure - and it is being rehabilitated. All homes purchased through the program undergo some work to make sure the homeowner starts with a clean slate.

"It didn't look like it needed a whole lot of work to me," Baldenegro said. "But they don't want the people moving into the house to have any problems with it. It's in a great neighborhood and it's not too far from work. I'm very excited. This will be my first house."

by Weldon B. Johnson The Arizona Republic Aug. 30, 2010 12:00 AM



First-time homebuyers get a break in Chandler