If you’re a “work here, live here”
If you’re the guy (or girl) who needs a nice, affordable place to live and work, this is the place for you.
Open House Number 2
Great response from our email invite to my fellow Realtors in the Valley. About 20 attendees throughout the day and the comments were favorable and I did ask for brutal honesty.
First Open House a Success
Today we conducted our first open-house. I invited my friends mostly. About 30 folks showed up and the feedback I received was very favorable.
I installed a really nice looking wall-bed in our studio model. It makes our studios so much more spacious. So much more livable.
Next week is the open house for Realtors.
We’re So Close
Get ready. The rollout for the Bond Street Condos is very close at-hand.
I expect our ads to start running on the Peak Broadcasting stations beginning on December 8th.
If you know anyone who would be a good fit for us, please tell them about us or better yet, tell me and I’ll contact them in a no-pressure way.
You can reach me (Kelly) at 208-794-7863.
Kicking Things Off
Welcome to the first Bond Street Condo Blog. We’re right-now in the middle of our kick-off; not only of the site but of the entire condo conversion.
So that buyers can take advantage of the First-time Homebuyers Tax-credit without delay, here’s our quick-n-easy offer. Now through the last day of April 2010 we will finance up to 16 condos for first-time homebuyers. No need to worry about lender approval or all the fees associated with getting a loan. Better yet – immediate occupancy.
So here’s the deal. We’re looking for a down payment of just $5000 on a 15-year loan at an interest rate of 7% with a balloon payment in five-years. The idea is to make your purchase before the tax-credit expires. Afterward (while interest rates are still low) you’ll probably want to go out and get a longer-term loan at a lower interest rate.
A first mortgage is then underwritten for the amount of your tax return (interest only) for a term of 120 days. After you get your tax-return check, you simply sign it over to us.
A second mortgage is also underwritten for the remainder. It will look something like this.
Purchase Price $80,000
Down Payment $5,000
Remaining Balance $75,000
Tax Credit $8,000
New Remaining Balance $67,000
Payment on 1st Mortgage $65.00 – lasts only 120 days
Payment on 2nd Mortgage $598.00 – excludes taxes and insurance
Afterward you get your own 30-year mortgage at 5%, your payment would drop to the quite low payment of only $443.00 per month. Where else can you purchase a nice place of your own just minutes from downtown for under $450 per month?
