pima county (az) community land trust homes for sale
Post on 09-May-2015
2.643 Views
Preview:
DESCRIPTION
TRANSCRIPT
PIMA COUNTY COMMUNITY LAND TRUST
Homes for Sale
PIMA COUNTY COMMUNITY LAND TRUST
Manager for the Land Trust is: Ron Whitman Frances Flynn ThorsenSocialebb Strategies and Solutions
WHAT IS A COMMUNITY LAND TRUST?A CLT is a community based organization whose mission includes permanent stewardship of
land for the community benefit and
perpetual preservation of the
affordability of housing on the land.
CLT makes it possible for limited- income households to own homes on landleased fromCLT through long-term, inheritable ground leases.
The lessee leases the landbut owns and holds the deed to
the home.
City of Tucson & Pima County• Purchase
Pima County Community Land Trust• Rehab• Market
Qualified Buyers• Rent to Own• Purchase
CITY OF TUCSON (COT) NEIGHBORHOOD STABILIZATION PROGRAM
.
•COT has purchased and rehabilitated 53 homes in targeted neighborhoods with high foreclosure rates, 37 of these homes will be conveyed to the Land Trust to sell.
•Pima County has purchased and rehabilitated 11 homes, that will be transferred to the Land Trust.
NSP 1
•COT shall purchase an additional 20 to 22 homes to be rehabilitated and transferred to the Land Trust for sale.
NSP 2
•The plan is to purchase 10 to 15 homes to be rehabilitated and transferred to the Land Trust for sale.
NSP 3
NEIGHBORHOOD STABILIZATION PROGRAM All or most of the proceeds from the sale of these
homes will be returned to the City and County to purchase and rehabilitate additional homes.
NSP 1 homes bought: 37
NSP 1 homes bought w/proceeds: 20 NSP 2 homes to purchase: 22 NSP 2 homes bought w/proceeds 14 NSP 3 homes to purchase: 15 NSP 3 homes bought w/proceeds 8 Over a 3 to 4 year period total homes to be
sold: 116
REHABILITATION OF NSP HOMES
Average rehab cost is $31,000 per house
HOMES – AS ENERGY EFFICIENT AS POSSIBLE
HVAC installed iif
needed
Low E Dual Pane
Windows
New flooring
New cabinets if needed.
Low flow toilets
Roofs checked for service life
All new energy efficient
appliances
Painted throughout Landscaped
1 person family $20,650
to $26,800
2 person family $23,600
to $30,650
3 person family $26,550
to $34,500
4 person family $29,500
to $38,350
5 person family $31,900
to $41,450
6 person family $34,250
to $44,500
7 person family $36,600
to $47,550
8 person family $38,950
to $50,600
BUYERS MUST EARN 50 – 65% AREA MEDIAN INCOME
TMM Family Services• Income qualify• 8-hour pre-purchase
counseling
Old Pueblo Community Foundation• Income qualify• 8-hour pre-purchase
counseling
LAND TRUST – HOW IT WORKS
The Buyers purchase the
building and all Improvements on the land.
The land is held under
a lease hold by the Land Trust.
Buyer signs a 99-year lease,
which automatically renews for a
second 99-year term.
RENT TO OWN
On the first 37 homes purchased and rehabilitated, 20 are occupied with families under a rent to own program.
The remaining 16 homes can be leased under a rent to own, if the buyers have a minimum credit score of 600. Buyers have 18 months in which, working with Housing Counselors, to become mortgage ready.
The Real Estate Commission will be paid at the successful closing.
Homes under the NSP 2 & 3 Programs will not be offered under the rent to own program.
BUYERS MORTGAGE
CLT Buyers will not pay more than 30% of their monthly gross income for all their housing cost:
Monthly Income: $35,000/12 X 30%
=$875 PITI + Utilities + fees not to exceed
$875 Fees are HOA (if applicable) &
$25/month Land Trust Fee
AVAILABLE HOMES
.1642 W Houchin Way
3 bed/2 bath
1651 W Houchin Way
3 bed/2 bath
2044 E Calle Sierra
Manatial 3 bed/2bath
2217 E Canada 3 bed/2 bath
240 W Placita Casas Bonitas
3 bed/2 bath
2537 E Knightsbridge 3 bed/2 bath
3241 E Halcyon 3 bed/2 bath
3411 S Fairbanks 3 bed/2 bath
5181 S Livingstone 3
bed/2 bath
5217 E 25th St 3 bed/2
bath
5234 S Mallard 3 bed/2
bath
5275 S Newcastle
Court 3 bed/2 bath
5990 S Blucher 4
bed/2bath
6290 S Ave De La Chandelle
3 bed/2 bath
1507 W Gardner 3 bed/2 bath
AVAILABLE HOMES
AVAILABLE HOMES
PIMA COUNTY COMMUNITY LAND TRUST
Manager for the Land Trust is: Ron Whitman 837-5340 email: PCCLT@tucsonaz.gov
REAL ESTATE REQUEST FOR PROPOSALS
Brokers interested in listing and marketing these homes submit
a proposal providing the following information:
History of working with low income Buyers
History of working the south and southwest part of Tucson, wherre most of the homes are located.
Submit a marketing plan.
Willingness to work with some Buyers under a rent –to-own program.
REAL ESTATE REQUEST FOR PROPOSALS
Submit proposals to Pima County Community Land Trust by not later than
4:00 p.m., October 15th, 2010.
Pima County Community Land Trust
310 N Commerce Park Loop Dr.Tucson, Az 85745
or email to: PCCLT@Tucsonaz.gov
top related