Foreclosures, however, are now few and far between. Distressed properties — foreclosures and short sales ) — make up just 2% of home sales today, down from a high of 49% in March 2009, according to the National Association of Realtors. The regular existing home market is very pricey, so investors are now turning to a new strategy: Buy new. And suddenly, the so-called build-to-rent market is exploding.
The mission of the Office of Housing (OH) is to create strong, healthy communities, prevent displacement and increase opportunities for people of all income levels to live in Seattle. OH supports development and preservation of affordable multifamily homes, homeownership opportunities, policy and program development, free weatherization services and home repair loans and stewardship of city-funded affordable homes.
Find a HUD-approved housing counselor in your area online or call 1-800-569-4287 to find a local housing counseling agency Housing Counseling Agency: an organization with experts who provide advice on buying a home, renting, avoiding mortgage default (missing a payment) and foreclosure, and credit issues. . The counselor may be from a non-profit organization approved to offer advice on housing assistance.
Housing supported by the Office of Housing is rent- and income-restricted to ensure that the affordable units we fund are occupied by those who need it most. The below income and rent limits are based off HUD figures, annually updated, and posted as soon as they are available. Each program has a particular income focus and requirements, and is thus listed separately.