City Real Estate E-newsletter  -  November 7, 2014

 

Homebuyer Assistance Program Continues to Build Momentum

The Homebuyer Assistance Program, which was relaunched in the spring of 2014, hit two important milestones in recent weeks.

First, the tenth forgivable loan under the program was approved to the purchaser of a home in the 2200 block of N. 47th Street. Buyers are eligible for forgivable loans of up to $20,000 to assist with needed repairs under the program. This initial group of ten projects will result in more than $380,000 of rehabilitation to formerly city-owned foreclosed homes, with the balance of funds coming from the buyer’s first mortgages from participating lenders or their own cash. An additional twelve buyers, with accepted offers to purchase, are working with City Rehabilitation Specialists to finalize their rehabilitation plans and select contractors. We hope to have at least twenty projects approved prior to the end of the year.

Then, during October, the program saw its first completed rehabilitation project at a home in the 6400 block of W. Nash Street. The buyer utilized a first mortgage from North Shore Bank to purchase the property and the Homebuyer Assistance Program to make the needed repairs. The buyer’s monthly housing payment, including mortgage, taxes and insurance, will be $340.

The City hosts monthly information sessions (see below) for individuals who may be interested in purchasing a home through this program.


Learn more at our Homebuyer Orientation Sessions

Attend the next session to learn more about the Homebuyer Assistance Program, which offers assistance from a rehab specialist and up to $20,000 forgivable loans for the rehab of City-owned homes.

Wednesday, November 19, 2014, 6-7:30pm
Zablocki Library, 3501 W. Oklahoma Ave.
(Meeting Room)
Click to Learn More


 

3838 North 69th StreetFeatured Home

Within walking distance to Dineen Park's playground, splash pad, tennis court, basketball and disc-golf course. Owner-occupants only.

3838 N. 69th Street
2 BR / 1 BA single family / 1,064 square feet
Built in 1955 / detached garage

$35,000 purchase price
+ $17,760 estimated rehab cost

Shop our Extended Listing today!


Extended Property ListingThinking of Becoming a Landlord?

City Real Estate has many homes for sale on the Extended Listing webpage that are available to investors and owner-occupants who want to earn rental income. Investor owners must possess or obtain a Landlord Training Program certificate.

The classes are FREE and held on a regular basis throughout the year at various locations. They are held on evenings and weekends to accommodate virtually anyone's schedule. Attendees get a free 100 page comprehensive manual and handouts on a variety of legal and business issues related to managing a property.

2014 Landlord Training Program Class Schedule


Current Property Listing

New Property List Coming Online Nov. 18

City Real Estate will be posting more homes for sale to the Current Listing webpage on Nov. 18, 2014.

Stay tuned for more great Milwaukee neighborhood homes for sale!

 



STRONG Vacant Lot Improvements

As part of Mayor Barrett’s Strong Neighborhoods Plan, many City-owned vacant lots have already been improved this fall with fruit trees, maple trees, flowering vines and shrubs. Neighbors are invited to submit a lot for improvement and City staff will select suggested lots to be improved. 

Capacity is limited to 50-80 lots in 2014, with more to come in Spring 2015! 

If your group is interested in community gardens or "adopting" a lot, let us know and we'll show you how - visit the STRONG website for more information.

 



1239 South 11th StreetFeatured Commercial Property


1239 South 11th Street
Mixed-use property / 2,430 square feet
$30,000 asking price



Featured Event:
Housing Resource Fair


Do you need help with home financing? Are you facing foreclosure? Do you need housing repair assistance? Are you interested in buying a city-owned home?
 
WHEN: Saturday, November 15, 10am-2pm
WHERE: North Division High School, 1011 W. Center Street

Attend this FREE event to learn more - representatives from various organizations will be there to answer your questions and assist you.

WORKSHOPS AVAILABLE:
Resources for the Elderly: 10:30am
Home Repair & Resources for Neighborhoods: 11:30am
Buying City Property & Accessing Resources to Help with Renovation: 1pm

Sponsored by Alderwoman Coggs, Alderman Stamper and Alderman Wade

Click to Learn More



Last Call: Community Warehouse Offer Expires Nov. 15

Community Warehouse is a non-profit organization that provides deeply discounted home improvement products to members looking to rehab and upgrade their homes. The warehouse is conveniently located just south of downtown at 521 S. 9th Street.

In partnership with Mayor Barrett’s Strong Neighborhoods Plan, the Community Warehouse is extending an exclusive offer for a discounted individual membership of only $5 (regularly $25). Annual membership fees are also discounted at $50 for non-profit organizations (regularly $100) and $75 for business memberships (regularly $150).

Residents must be located in the CDBG Community Development Block Grant area to qualify for membership. All offers are valid through November 15, 2014 and you must bring in a printed online flyer to receive the discount.

Click to Learn More




If your organization would like to featured in future e-newsletters, please contact
Community Outreach Liaison Christina Klose at cklose@milwaukee.gov

 


City Real Estate, 809 N. Broadway, Milwaukee, WI 53202   -   (414) 286-5730


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