For those of you who think HUD homes are always "handyman specials" that need lots of rehabbing.....I'm here to inform you otherwise.! After reading this article, I hope to shift your paradigm and alert you to the possibilities of purchasing a HUD home as your next residence.
A quick background first...
It is important to define what a HUD home actually is before we get started. Luckily, it is a very simple explanation! It
starts with a home owner who has an FHA (Federal Housing Administration) loan. All FHA loans are backed by the government. Therefore, when the owner unfortunately defaults on his/her FHA loan, the bank that provided the loan takes back the home and in turn, conveys it back to the government. (OK...there are a
lot of steps to get to that point, but we are keeping it simple here!) The government then places it back on
market with a listing broker and it becomes available for you to purchase.
In order to get it back on the market, there are many stages it goes through, including obtaining an FHA
appraisal. That final appraisal is considered the fair market value and that amount will always be listed on HUD's website for you to see. In fact, when the property comes out on the market, that is the initial list price you will see! ________________________________________________________________________________________________
Now that you know exactly where these homes come from, let me show you a couple HUD homes that I was the listing agent for in the Florence, KY area that have just recently gone under contract or are sold.....
Beautiful, brick ranch located in Florence, Ky at 7254 Wind Brook Drive. Included fireplace, breakfast nook and master bedroom with ajoining bath and cathedral ceiling. The finished basement offers an additional bedroom and bath for added space. Outside you'll find a fenced in backyard and patio. This home came on market at $120,000 while other surrounding homes were active for $190,000 and up! Such a deal! Sorry you missed this one! SEE THE YOUTUBE VIDEO NOW.
Then there was this beauty.......
Fabulous Florence home located at 2740 Pebble Creek Way. This one has a great street presence with a beautiful stone front that stands out on a quiet cul-de-sac. Inside is a large, open layout with formal dining room and living room that opens up to the kitchen for great entertaining! Upstairs you'll find a master bedroom with ajoining jacuzzi bath plus shower, along with 3 other bedrooms and another full bath. Downstairs is completely remodeled with wall to wall carpet and and a walkout. This home went on market for $164,000, but it eventually sold for a great deal less than that! What a deal this would have been for YOU! SEE YOUTUBE VIDEO NOW.
Check out a HUD home today!
Don't underestimate the possibility of a HUD home as your next purchase. As an added benefit, most of these homes are available with FHA's $100 down program. With today's low rates, great home prices and the $100 down program, it just doesn't get too much better than that!
For more HUD homes that are available NOW, click HUD homes in NKY.
For more info on how to purchase a HUD home click on Cathy's "HUD"dle Corner.
To schedule an appt to view a HUD home click Contact Cathy Now.
Happy Home Hunting!
Proceed with knowledge and be empowered to make the right decisions in all your real estate transactions.
NORTHERN KENTUCKY Real Estate Sales - Cathy Miles Realtor®
CINCINNATI, OHIO Real Estate Sales - Cathy Miles Realtor®
I specialize in helping buyers and sellers with their real estate needs in Northern KY and in Cincinnati, OH . With passion, I invite you to board my boat for your next destination and allow me the opportunity to help you navigate the ever changing currents of this incredible market!
just ask cathy...513.673.7726
Helping to educate buyers & sellers to make sound real estate decisions.
KY /OH Realtor® / EXIT REALTY / www.mileshometeam.com / I-Fax: 888.398.3974 / firstname.lastname@example.org