"Living in the Real World" ~ Lola's Log

head_left_image

Rent-To-Own Co-Op Launched to Help Renters in Pasco and Pinellas Counties

As virtually any homeowner or Real Estate professional can tell you, the real estate market has been suffering a bit in the past year.  There are many homeowners feeling the pinch of rising interest rates on their adjustable rate mortgages, as well as increases in taxes and insurance.

So, how has this impacted the rental market?  Laissez faire economics applies, and rental prices are also on the rise--and what does that mean to the average consumer?  Any way you slice it, you're going to be paying more for housing.

Thus was born the idea for forming a "Rent-To-Own Co-Op"--kind of a go-between for renters not quite ready to buy, where they can at least access some of the benefits of homeownership, while working toward the American Dream of owning their own home.  It's an exciting idea, and one who's time has come.

The way it works is basically the same as a Rent-to-Own, where a portion of your rent and half the security deposit go into a fund to be applied to the down payment on a purchase of the home.  The difference in the Co-Op is that this money can be applied to ANY home, not just the one being rented--it's down payment assistance with portability!

For more information,

emailand check back for more articles as we launch this new program!

Also, read more articles on First-Time Homebuyers Seminars.

Contact Me

 FILL OUT THE:

EASY ONLINE FORM

Thanks for your interest, and best wishes in your home search.

For more Tips and strategies if you are facing foreclosure-check my website

 

Facing Foreclosure?
GET GOOD ADVICE
FREE INFORMATION


Pinellas County Short Sales

> Search Pinellas Homes FREE

How To Buy
3, 4 or 5 Bedroom
BANK OWNED HOMES

Click Below
Pinellas Bank Owned Homes

 

 

 

 

Join Active Rain

 

 

 

Regards,
Loretta J. Buckner
Your "Real" Estate Consultant for Life
www.RealWorldPropertiesInc.com
727-656-6206

Comment balloon 6 commentsLoretta Buckner • November 25 2007 08:40AM

Comments

Loretta, I think this is a fantastic idea!  Potential owners can choose another home and all the money they've paid for rent would not be wasted.  This is something I would consider doing because I have always thought renting for long periods of time would never help a person save to eventually own a home.
Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) over 11 years ago
That's right, Carole--the whole idea was born from my own frustration years ago as a single mom living paycheck-to-paycheck, barely able to pay the rent sometimes.  All I really needed was a little guidance and a good low-down payment loan (FHA is still out there!), and I was able to start turning my rent money into equity!
Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 11 years ago
Loretta - this sounds great !! What areas of Pinellas is it available in????
Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 11 years ago
Barb--this will be available throughout Pasco and Pinellas Counties, and open to anyone--including Realtors wanting to offer their clients options for selling their houses as well.  We'll be having some Info Workshops starting in January--shoot me an email if you'd like an invite.
Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 11 years ago

What a great idea, I've used this in some cases. But, in the past it had to be on another one of my available properties.

Todd

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago
Thanks, Todd! I wanted a way to reach more buyers, with more properties, and this seems to fit the bill--and the additional upside is that I can offer it as a program to sellers who are having difficulty selling their homes as well.
Posted by Loretta Buckner, Your GREEN Real Estate Consultant For Life! (Real World Properties, Inc.| Your Real Estate Consultant for Life) over 11 years ago

This blog does not allow anonymous comments