Affordable Housing success story: Transfer from teacher to veteran, another win,win!
In this challenging real estate market it is always great to hear about successful sales and purchases of dream homes for families. This is especially true in the Affordable housing program. The Denver and Affordable housing programs are designed to create home ownership opportunities for buyers that may not be able to get into certain homes or neighborhoods at a below market price. In exchange for the discount on the home they promise to pass the savings onto the next buyer in a similar income bracket with limited appreciation, in other words pay it forward.
The Yes You Can Affordable Connection Team's latest sale is a perfect example of how it is supposed to work. When a family of four moved from California and tried to buy a home near the specialized school in which the father was a teacher, they found that their choices were minimal. His wife was in school and so they really couldn't afford what the average home in Denver cost at the time.
They purchased a 3 bedroom Stapleton affordable town home in 2008 and were happy as can be and their own story was a great example of the spirit of the affordable program. He literally could walk and bike to work at the school he taught at, his kids went to a great local school and the family became entrenched in a great new neighborhood.
Over the last 3 years however, the kids have gotten bigger, his wife has graduated and has a great job and he has moved up in his career as well and was now working at a local University. They had saved up some down payment and realized it was a great time to move up in the community they had grown to love, and time to pass the opportunity on to someone else who needed it.
The StapletonHomeTeam put there house on the market and although nothing is easy in this market, had a lot of interest and after about 5 months had the right person walk into their home and she also realized what an opportunity she was looking at and wrote an offer on their Affordable townhome. Again on the buying side nothing is easy in this real estate environment but she put together her approval from the city and her VA loan to purchase the home.
Once again a great story. She is a recently divorced mother of 2 adorable children who go to a nearby school which moving near was the highest priority. By moving to this affordable home she cut her commute to their school from over an hour to 10-15 minutes. She was also much closer to work, which saves gas money and gives her more time with the kids. Having similar aged kids to when the current sellers had when they moved in, the sellers had a lot of great advice for the new owner as many Stapleton families had since moved in that they hung out with. This new buyer was a veteran, is a single mom, and hard worker who helps other veterans with their benefits. Her kids at closing were playing with the seller's cats and it was a great closing. The buyer and her family are as happy as can be.
The sellers have now moved into what they classify as their dream home til at least when the kids go off to college. They actually know some of their close by neighbors through the school and around the hood. Their house is really great and even better the kids are in the same Stapleton school, they have continuing relationships in the community, and they are also happy as can be.
Today, there are so many horror stories in Real estate and it is also true with the Stapleton affordable housing program. But I think it's important in Real estate to take note of when we really are helping people and the success stories and what it means in their life.