These grants have brought new buyers into the market place because this grant allows them to have a home constructed for them, this is critical because new home inventory is at an all time low in the greater Salt Lake area.
Salt Lake City (PRWEB) October 2, 2009
Holmes Homes, an award-winning Utah home builder, is dedicated to providing high quality and energy efficiency homes in Utah, Arizona, and Idaho announces that the Home Run Grant #2 is yielding great results. The Home Run Grant #2 has provided a necessary and successful economic stimulus for new home owners. The combination of the $4,000 Home Run Grant #2 with the $8,000 Federal Tax Credit is enticing many buyers that have been pushed out of the buying process in the last two years. Ross Holliday, owner of Holmes Homes, remarked, "We are seeing buyers come back into the market that previously had not been able to purchase a new energy efficient home, because of down payment restrictions. These are people with good credit, job history, and education. It is great to see them now have the opportunity for home ownership as a result of Utah's Home Run Grant #2." The $4,000 grant allows new home owners the opportunity to utilize the funds in a number of unique ways to qualify for a low risk home loan. The flexibility of how the grant money can be used is what is making a difference in allowing them to purchase. Spencer Holmes notes, "These grants have brought new buyers into the market place because this grant allows them to have a home constructed for them, this is critical because new home inventory is at an all time low in the greater Salt Lake area."
Those participating in the Home Run Grant #2 program are able to secure a grant while a personalized home is constructed to their family's needs and specifications. This change is a substantial deviation from the original grant program. Another noteworthy change in the second round of grants has been in the amounts being decreased from $6,000 to $4,000. The effect of this change has been to bring lower priced buyers into the market place because the FHA down payment requirement of 3.5% is now within reach on lower priced homes. Ross Holliday commented, "We are seeing that most customers that come in and ask about the program are now looking for homes below $250,000 where the $4,000 covers half to nearly half of the necessary down payment; it has lessened the burden of young individuals and couples to buy a home. These people would be saving for years to come, since most parents aren't in a position to financially assist their kids during the recession. Another enticing factor for most buyers is the pending expiration of the Federal Tax Credit of $8,000 which is set to expire on November 30th of this year. This has created a level of heightened awareness that this truly is the best time to purchase a new energy efficient home before the time expires."
For additional information, please contact the Utah Housing Corp for program details on the Home Run Grant #2. http://www.utahhousingcorp.org
You can also reference the National Association of Home Builders' website for a complete list of details and answers to some of the questions you may have regarding the $8,000 Federal Program. http://www.federalhousingtaxcredit.com
Holmes Homes is a 5th generation builder that is committed to building only the most energy efficient homes in premier locations.
More than 16,000 homes have been constructed by the Holmes Family who builds Utah townhomes, condominiums, and single family homes.
Aside from home building, Holmes Homes and its subsidiaries are involved in land development, home financing, and real estate brokerage operations.
Thus far, Holmes Homes has constructed nearly 700 homes in Daybreak alone and will soon be celebrating its 120th anniversary in the coming months.
For all media inquiries and public information, please contact Holmes Homes through email, info at holmeshomes dot com or phone (801) 572 - 6363 to contact Ross Holliday