Amy Jewett Sampson

AS PROMISED, I AM KEEPING YOU UPDATED ON NEW LEGISLATION SIGNED BY COLORADO’S GOVERNOR, EFFECTIVE JULY 1, 2022.

HOUSE BILL 1282 OR WHAT POLITICAL LEADERS ARE CALLING COLORADO’S “INNOVATIVE HOUSING INCENTIVE PROGRAM” ALLOWS FOR COLORADO-BASED BUSINESSES THAT MANUFACTURE HIGH-QUALITY, MODULAR AND 3-D PRINTED HOMES TO APPLY FOR GOVERNMENT FUNDING.

THE LAW INCENTIVIZES THESE BULDERS OF MODULAR HOUSING TO ALIGN WITH THE STATE OF COLORADO’S GOALS OF PROVIDING AFFORDABILITY, ENERGY, EFFICIENCY AND QUALITY HOUSING.

AFFORDABLE HOUSING IS AN ISSUE FOR MANY COMMUNITIES ACROSS THE STATE AND COUNTRY, AND THIS PROGRAM IS DESIGNED TO CLOSE THE HOUSING GAP AND ALLOW FOR MORE COLORADANS TO BE ABLE TO ATTAIN THE DREAM OF HOMEOWNERSHIP.

THE PROGRAM CREATED BY THIS NEW LAW, BRINGS PRIVATE SECTOR MANUFACTURING COMPANIES TOGETHER WITH PUBLIC SECTOR FINANCING IN ORDER TO LOWER THE COST OF HOUSING.

THE LAUNCH OF NEW FACTORIES THAT MANUFACTURE MODULAR AND 3-D HOMES IS DESIGNED TO SUPPORT COLORADO COMMUNITIES EFFECTED BY LACK OF AFFORDABLE HOUSING. THIS IS PARTICULARLY PREVALENT IN COLORADO MOUNTAIN TOWNS LIKE SUMMIT COUNTY AND MESA COUNTY WHICH STRUGGLE WITH HOUSING FOR THOSE WHO WORK IN THE COMMUNITY.

JOIN ME NEXT MONTH FOR NEWS AND INSIGHTS INTO COLORADO’S REAL ESTATE MARKET @COLORADOHOMEINSIDER.COM. THANKS FOR JOINING ME TODAY.

Colorado Affordable Housing Program

ALL CASH? WHY NOT BUY A FORECLOSURE?

WELCOME TO COLORADO HOME INSIDER WHERE MY GOAL IS TO BRING YOU THE LATEST INSIGHTS INTO TODAY’S REAL ESTATE MARKET.

TODAY’S ENVIRONMENT WHERE BUYERS ARE WAIVING MOST IF NOT ALL OF THEIR PURCHASING RIGHTS FROM INSPECTIONS TO DUE DILIGENCE, AND OTHER KEY ELEMENTS, IS NOW THE NEW NORMAL IN A BUYER GETTING A LEG UP ON THEIR OFFER BEING ACCEPTED.

THE FACTS ARE THAT ALL-CASH OFFERS IN TODAY’S REAL ESTATE MARKET SEEM TO BE THE RULE, NOT THE EXCEPTION. I WANT TO CHALLENGE YOU THAT IF YOU HAVE THE CASH, WHY NOT LEVERAGE YOUR MONEY TO GET THE BEST DEAL YOU CAN WITHOUT COMPETING WITH THE DOZEN OR MORE ON THE LIMITED SUPPLY OF HOMES ON THE MARKET. OPENING YOURSELF UP TO PURCHASING A FORECLOSURE MAY FIT YOUR LONG-TERM GOALS.WHY NOT LEVERAGE YOUR MONEY TO GET THE BEST DEAL YOU CAN WITHOUT COMPETING WITH THE DOZEN OR MORE ON THE LIMITED SUPPLY OF HOMES ON THE MARKET. OPENING YOURSELF UP TO PURCHASING A FORECLOSURE MAY FIT YOUR LONG-TERM GOALS.

HERE’S HOW IT WORKS. WHEN A PROPERTY OWNER IS DELINQUENT ON THEIR MORTGAGE PAYMENTS, THE BANK STARTS FORECLOSURE PROCEEDINGS TO RECOOP THE LOAN AMOUNT. A FORECLOSED PROPERTY IS LISTED “FOR SALE” FOR ANYONE TO PURCHASE “AS IS” WITH THE FULL AMOUNT DUE IN CASH AT CLOSING.

IF YOU HAVE THE TIME, MONEY AND NOT IN A RUSH, A FORECLOSURE MAY BE A GREAT OPTION.

Colorado Affordable Housing Program

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