HUD Homes, Not Just "Hood" Homes Anymore

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Services for Real Estate Pros with TheHousingGuru.com

HUD homes for sale for $10,000, $5,000, or even $100! The advertisements certainly catch the eye, but many immediately discount the offerings as being homes not worthy or repair or worse, in areas where no one wants to live. Traditionally homes offered by HUD have been just that—old, dilapidated, and in inner city areas blighted by drug use and crime.

 

But that’s not the case anymore. In recent years HUD, The Department of Housing and Urban Development, has offered homes for sale in some of the best areas of the country, nice homes in nice neighborhoods. Take a look at the following examples:

 

Sun City, CA – 2BR/2BA ranch for $140,000                         house

Raleigh, NC – 3BR/2BA  ranch for $207,000

Acworth, GA – 5BR/2.5 BA 2 story for $190,000

Big Bear Lake, CA – 2BR/1BA ranch for $150,000

Orlando, FL – 4BR/2BA  ranch for $139,000

 

And there are hundreds more, with more being added every week. Prices begin at just a few thousand dollars for selected homes. If you are in the market for a home at a competitive price, check with your Realtor® to see if there are HUD homes available in areas where you’d like to live. There are some great buys available; don’t miss out because you thought a HUD home wouldn’t be desirable. You just might find your dream home.

 

HUD also offers special incentives to various groups and individuals and for homes in certain areas. For instance you can participate in the Neighbor Next Door initiatives, a collection of FHA's home sales programs designed to help communities and promote homeownership.

 

The purpose of this program is to encourage renewal of revitalization areas by providing law enforcement officers, firefighters, emergency medical technicians and teachers an opportunity to purchase homes in these communities. HUD provides a substantial incentive in the form of a fifty percent discount off the list price of eligible properties. For more info on this program and to find locations where these programs are offered, click HERE.

 

For information about purchasing a HUD home, click here for: Buying HUD Homes.

 

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Rainer
175,528
Julia Odom
Select Realty Professionals - Chattanooga, TN
Chattanooga Homes for Sale

HUD has a pretty wide selection of homes in our area (we are the listing company for HUD in SE TN) and I wish they would offer the Good Neighbor Next Door program more. It isn't necessary in most cases but there are lots of HUD houses in still blighted but up and coming areas that would definitely benefit from some good neighbors. I haven't seen a single GNND house in the last 6 months.

Sep 19, 2009 05:26 PM #1
Rainmaker
453,503
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Julia - For the most part, there are not very many GNND homes available in areas where people want to move, but it's always worth checking before purchasing.

Sep 19, 2009 05:55 PM #2
Rainer
2,813
Marilyn Culver
Keller Willians - Cedar Park, TX

Good news.

Sep 19, 2009 05:59 PM #3
Rainer
287,194
Leslie Helm
Tennessee Recreational Properties - Jamestown, TN
Real Estate For Trail Riders

Hi, John.

If it works as it should, what a wonderful program! No HUD homes in this equestrian community, alas!

Sep 19, 2009 06:02 PM #4
Rainmaker
453,503
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Leslie - If it works as it should--That's a big IF, and probably too big to expect from DC.

Sep 19, 2009 07:32 PM #5
Rainer
110,832
Charles Perkins
Charles G. Perkins, CPA - Burien, WA

I have been starting to look at some HUD homes.  I am finding some nice homes and many that need a substantial amount of repair.  I will look into it some more.  Thanks for the update.

Sep 20, 2009 02:53 AM #6
Rainmaker
453,503
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Charles - It takes some work, but, amid all the junk, there are some bargains out there in nice homes out there.

Sep 20, 2009 10:28 AM #7
Rainmaker
1,108,597
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

And if one is a first-time home buyer, and hurries, one can use the $8,000 federal tax credit!

Sep 22, 2009 08:40 PM #9
Rainmaker
453,503
John Mulkey
TheHousingGuru.com - Waleska, GA
Housing Guru

Jim - There are bargains for those who seek them out.

Sep 22, 2009 08:51 PM #10
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Rainmaker
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