The Harris County Community Services Department has officially launched the much anticipated H.O.M.E. (Home Ownership Made Easy) program. Through the program, Harris County has recently purchased more than 40 foreclosed homes, offering them to qualified first-time buyers at greatly discounted prices. While many of those homes have either sold or have pending offers, Harris County Community Services continues to purchase homes, replenishing the inventory weekly.
The new H.O.M.E. program, funded by a HUD Neighborhood Stabilization grant, offers foreclosed homes for re-sale to qualified families at 20 percent below Harris County's purchase price. The program also pays a 3 percent real estate commission and 6 percent toward the buyer's closing costs. The homes are located primarily in newer Harris County subdivisions beyond Houston city limits.
"I think the real estate agents and buyers out there will be pleased with the quality of these recently built homes. In many cases buyers are paying 40-50 percent below what the same house sold for when it was new," said David Turkel, Director of Harris County Community Services.
The goal of the program is to help employed low to middle income people purchase vacant foreclosed homes they can afford; thereby stabilizing local housing markets that are being impacted by high foreclosure rates. A family of 4 earning as much as $76 thousand a year may qualify for this program.
"Putting hard-working, credit-worthy families into vacant homes that might otherwise be vandalized will help stabilize property values and prevent neighborhood deterioration," Turkel said.
The County continues to purchase homes as those in the H.O.M.E. inventory are sold; in a program that is expected to last at least two years. To find out if you qualify and to view the latest homes for sale go to www.harriscountyhome.hctx.net. Homebuyers may have access to the program through a licensed real estate agent or an attorney. The H.O.M.E. program welcomes the participation of all licensed real estate agents.
