• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

Obama’s $15 Billion Plan to Rehab Vacant and Foreclosed Homes

imageThe President’s  prime-time address on jobs didn’t focus much on housing. Most of the housing-related attention focused on his call for more refinancing

But the president’s job-creation bill actually includes some aid for housing:

Tucked away in the $447 billion job creation plan that President Obama unveiled late last week are billions of dollars set aside to rehab foreclosed homes and businesses.

It would create a $15 billion fund to get construction workers to rehab vacant and foreclosed homes and businesses. Construction hiring has been weak because competition from foreclosures has held new home building at abysmally low levels.

Dubbed “Project Rebuild,” the White House initiative follows on the work of the administration’s Neighborhood Stabilization Plan, which gave grants to nonprofits in communities hard hit by foreclosures.

The goal of the program is twofold: Beyond creating jobs, it tries to chip away at problems in the housing market by “attacking the overhang of properties,” said Housing Secretary Shaun Donovan in an interview.

The concern is that foreclosed properties tend to be less well-kept than traditional homes, and the properties sell at a discount out of foreclosure.

Read about it on page 13 of the American Jobs Act

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