Amenity Level

The news just keeps getting better and better.   Last week we heard about the Senate approval of new legislation extending and expanding the homebuyer credit. This week the FHA announced that the pre-sales requirement for new construction will be reduced from 50% to 30%.  For those select buildings that invested in FHA approval, such as SPIRE, this is incredible news for future homeowners.

The requirement we are speaking of controls when FHA loans can be funded or effectively answers the question… “when can I move in?”  For SPIRE homeowners looking forward to their new urban lifestyle rich in amenities, events, restaurants and more, the projected timeline just got shorter.

Under the previous requirements, those buyers taking advantage of FHA financing would be looking to move in after roughly 250 of the 496 residences were under contract.  With this change, that new requirement is approximately 150.  With more than 100 units currently sold, this puts the date much closer to buy the champagne and schedule that open house celebration .

Learn more about how you can take advantage of the great opportunities at SPIRE today by calling 720-457-7550 or stopping in our sales center at 890 14th street.  Building tours take place daily Monday through Friday from 11 AM to 3 PM.  Call to schedule your tour today or visit our website at www.spiredenver.com.

And here is a little blurb and link to the new legislation…

http://www.federalhousingtaxcredit.com/

• Great building
• Great location
• Great amenities
• Great prices
• Great market rates.

And now Homebuyer credit opportunities through June 30th for both new and existing homeowners have been approved by an overwhelming 98-0 vote in the Senate and now heads to the House of Representatives.

The existing $8,000 tax credit for new homeowners was already providing helpful assistance for new home purchases.  To qualify you needed to have not owned a house in the past 3 years.   That incentive has now been extended for contracts signed by April 30th and closed through June 30th of 2010.  With prices at SPIRE starting below $200K, this incentive opportunity creates a unique starting home possibility.

But the good news in the Senate announcement is not just for new home buyers.  It includes a $6,500 tax credit provision for existing home buyers who have owned a home in one of the past 5 years and with the same timelines.  This change puts smiles on so many potential new homeowners and creates one more reason to learn more about SPIRE’s residences in the heart of downtown Denver.

Contact our sales team at 720-457-7550 today to learn more about your own home opportunities at SPIRE and how the new homebuyer credit can benefit you.

SPIRE

Here is a blurb from the CNN article…

The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The Senate’s bill also created a $6,500 credit for those who buy a home after owning one for the last five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.