Freddie Mac adds six more states to REO winter promo
The real estate sales unit of Freddie Mac is expanding its winter sales promotion. The HomeSteps initiative will be available in six more states, bringing the total to 33. Alaska, Kansas, Kentucky, Missouri, Oregon and Washington are now part of the program. "We're expanding our winter promotion to focus additional incentives to encourage strong sales activity in our 'cold weather' states over the next several months." said HomeSteps executive Chris Bowden. Under the HomeSteps Winter Sales Promotion, HomeSteps will pay up to 3% of the final sales price toward the buyer's closing costs and a $1,000 selling agent bonus for initial offers received between Nov. 15 and Jan. 31, 2012. Escrow must be closed on or before March 15, 2012. Freddie added that its properties typically go to owner-occupants and sell for on average 94% of the property's value. Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.