San Diego Home Buyers Have One More Month to Save Money on Closing Costs on Fannie Mae HomePath Houses for Sale in San Diego
Apr 30th, 2010 by Kathleen Behrens
Houses for Sale in San Diego has excellent news for San Diego home buyers! On Tuesday, April 27, 2010, Fannie Mae announced the extension of the Closing Cost Assistance and Appliance Incentive program. San Diego home buyers who purchase a San Diego home currently owned by Fannie Mae may qualify to receive 3.5 percent of the final sales price for the home to apply toward closing costs or the purchase of new Whirlpool appliances. San Diego home buyers may also choose to apply the incentive money toward a combination of closing costs and the purchase of new home appliances.
Fannie Mae’s Closing Cost Assistance and Appliance Incentive program, for home buyers who purchase San Diego homes owned by Fannie Mae, was scheduled to expire on April 30, 2010. The program has now been extended to run through June 30, 2010. To qualify for the incentive, buyers must close on a San Diego Fannie Mae HomePath property before the new deadline. The San Diego home may be a second home as long as it is considered owner-occupied. Investors are not eligible to participate in this program.
Fannie Mae’s goal is to increase stability for the San Diego real estate market and property values by providing assistance and incentives for San Diego home buyers. In addition to the sale of San Diego HomePath properties at excellent entry-level home prices, Fannie Mae also has two special financing programs designed to assist San Diego home buyers. The HomePath Mortgage and the HomePath Renovation Mortgage financing programs provide San Diego home buyers with additional financing options with as little as 3 percent down on the purchase of a San Diego Fannie Mae HomePath property.
Fannie Mae currently has 178 San Diego properties listed on the HomePath website. The houses for sale in San Diego include single family homes, condominiums, and town houses. Ninety-seven of the San Diego homes listed are under contract, and 12 of the San Diego properties are designated as coming soon. Nine San Diego homes are considered as just listed, and there are 60 active listings of Fannie Mae HomePath houses for sale in San Diego.
The San Diego home prices range from a low of $69,000 for a home in Mission Valley to a high of $510,000 for a home in Ocean Beach. However, nearly half of the Fannie Mae HomePath houses for sale in San Diego are listed between the $200,000 – $299,000 range. Eleven San Diego homes are listed in the $100,000s, and 14 San Diego properties are available in the $300,000s.
The Fannie Mae HomePath houses for sale in San Diego cover a vast array of San Diego communities. Homes for sale in San Diego currently include properties from as far south as Otay Mesa, through downtown San Diego and Old Town, up to Carmel Valley, Scripps Ranch, Escondido, and San Carlos. Houses are also available for sale in Mira Mesa, Clairemont, University City, Mission Valley, Linda Vista, Kearny Mesa, Hillcrest, City Heights, Logan Heights, Golden Hill, Kensington, the College area, and as far east as Jamacha. On Fannie Mae’s HomePath website, you can search for San Diego properties for sale by entering specific zip codes.
Although 55 percent of the Fannie Mae HomePath listings for San Diego homes are currently under contract, new houses for sale in San Diego are continually added. You can also elect to receive email notifications when new San Diego properties are listed for sale in specific zip codes in which you are interested. Fannie Mae HomePath properties in San Diego are aggressively priced and offer opportunities for entry-level home buyers to purchase San Diego homes. With great interest rates, low home prices, special incentives and financing from Fannie Mae, and the $10,000 California home buyer tax credit, now is the perfect time to view houses for sale in San Diego and purchase an entry-level property.
As the last two consecutive monthly updates from Standard & Poor’s Case-Schiller Home Price Indices have reported, San Diego home prices have increased. San Diego home buyers who wait too long to purchase houses for sale in San Diego may not only miss out on the bottom of the market, but also on Fannie Mae’s Closing Cost Assistance and Appliance Incentive program and the $10,000 California home buyer tax credit. The Fannie Mae program ends on June 30, 2010 and the California home buyer tax credit will last only as long as program funds remain, which are available on a first come, first served basis. San Diego home buyers who have closed on a San Diego home may file a claim for the California tax credit beginning on May 1, 2010, and the funds are expected to run out quickly.
Begin your search of Fannie Mae HomePath houses for sale in San Diego today or contact San Diego Realtor and Broker Russ Petrone of Petrone Properties at 858-259-1000 to have a customized search of the houses for sale in San Diego designed for you based upon the specific criteria you require for your San Diego home. Although you can search for Fannie Mae San Diego HomePath properties on your own, Fannie Mae does require San Diego home buyers to submit offers for San Diego properties via a real estate agent. If you would like to view or submit an offer on any of the San Diego homes for sale on HomePath.com, contact San Diego Realtor and Broker Russ Petrone of Petrone Properties at 858-259-1000.