Sorry, they didn't say the program was intended to help the housing market, but rather "to help spur metro Denver homeownership". As Joetta pointed out and on notes, right now the market doesn't need help.
But if you believe that â€œThere is no better way to help rebuild our local economy and expand the strength and vitality of our neighborhoods than to open the doors of home ownership to moderate and low-income buyers", then this program will certainly help. Granted inventory is tight right now, but Sellers will respond. There are tons of listings coming on every day in our neighborhoods.
BTW, the program includes a 4% grant to qualifying low and moderate income homebuyers to go towards down payment and closing costs. And there are loans available for as little as $500 down. So if you thought you couldn't ever afford to buy a home - what are you waiting for?
Give us a call today!
Tony & Karen