Buying an Affordable Property with Renovation in Mind

Via: Fannie Mae Homepath

Liz Atkinson, 20, and husband Ande, 21, of Iowa City, Iowa, had rented for years but medical complications with their first child, Gabryel, now 14 months, spurred their need to purchase a home of their own that they could completely renovate to be germ free.

“With my son’s lung condition, we have to live in an environment that’s germ-free with no carpets or popcorn ceilings. Those aren’t the kind of renovations you can do when you’re a renter.”

Their real estate agent told them about Fannie Mae’s HomePath® Ready Buyer™, a homebuyer education program with monetary incentives for first-time buyers who purchase a HomePath property. The program offers qualified buyers up to 3 percent closing costs for completing nine, 30-minute sessions online. “Ready Buyer was a perfect fit,” explains HomePath listing agent Tim Zear with Elliott Realty Group in Washington, Iowa.

With the course completed, the two started to look at area homes. Two properties came on the market in their price range that, after a brief bidding war, were sold to other buyers. Then one of those homes came back on the market, and at a lower price. “We did bid against other buyers again for the house, but this time we won,” Liz notes.

Their new three-bedroom house sits on a quarter-of-an-acre lot, with a fenced yard with three lilac trees. “We saw a lot of potential in this house, and it has absolutely everything we could want,” she says. The Atkinsons hope to wrap up renovations quickly and move into the house by August 1. “We’re really happy with the way this has turned out,” says Liz.

Killeen council to examine amending future land-use map


The Killeen City Council will have a public hearing and examine amending the Comprehensive Plan’s future land-use map to change a zoning designation at today’s regular meeting.

The land in question is a parcel of about 52 acres located along the north right of way of Stagecoach Road, about 420 feet west of Rein Drive.

DR Horton (copy)

Consideration of an amendment to the FLUM is necessary “because of the applicant’s request to rezone 52.54 acres” from agricultural single-family residential district to single-family residential district, according to a city memorandum.

During a Killeen Planning and Zoning Commission meeting in June, the commissioners recommended, 5-3, that the council disapprove an amendment to the future land-use map requested by W.B.W. Land Investments, a local developer, according to Herald reports.

Council members today also will consider approving the purchase of 42 encrypted digital handheld radios for the police department.

The radios would replace radios that are being phased out of inventories because of a lack of spare parts and support, according to a city memorandum.

“This acquisition will assist the police department in replacing many of its aging radios with new P25-compliant encrypted digital handheld radios in the furtherance of that goal,” the memorandum stated.

The purchase price of the radios is $149,043, and city staff recommended the radios be acquired from Dailey Wells Communications as a sole source procurement for $140,018 and 42 accessory sets (spare batteries, battery chargers and shoulder mics) from Tac 1 Systems for $9,025, based on lowest quoted price.

Other business

Council members will consider the Killeen-Fort Hood Regional Airport Subway Real Estate LLC lease agreement, extending the term for a period of five years from Oct. 1 to Sept. 30, 2020, and authorizing the city manager to execute the agreement.

Also, the council will consider reviewing, discussing and voting on the Killeen Arts Commission’s proposed recommendations for grant allocations of fiscal year 2016 hotel occupancy tax funds.

In June, during a meeting of the Arts Commission, the commission recommended the allocation of funding for eight applicants totaling $166,000.

Among other items, the council will look at three other zoning requests, with one of the requests asking for an amendment to the FLUM to allow a rezoning.

The council meets at 5 p.m. at City Hall, 101 N. College St.

A workshop follows the regular meeting, when the council will receive a briefing and discuss the draft water, wastewater and roadway impact fee study results and the remaining steps in the process for impact fee implementation.

The council also will discuss the fiscal year 2016 proposed budget, including the general fund and aviation.