As I've been out looking at HUD properties lately, I have noticed that these homes are extremely different homes than what they were several years ago.  Three years ago, these were the distressed properties that were usually only purchased by investors who had the money to infuse some cash into the properties and flip them.

Today is a different story.  Many of the HUD homes I have recently viewed are only 1-2 years old, in great condition and only need minor repairs that could be completed one weekend with a little sweat work and a trip to the Home Depot.  These homes are ready for immediate occupancy!

It gets better!  HUD is currently offering many of these properties for sale with only a $100 down payment with FHA financing.  In addition to that, HUD will pay up to 3% (of list price) for the buyer's closing costs!  To be eligible, the buyer must be an owner occupant (no investors) and must offer full list price.  Keep in mind that full list price is typically 10-20% off of normal retail price and the current market value.

What does this mean for buyers?  It means that now is a great time to purchase a HUD home!  You will be investing in your future and purchasing the home with very little cost but yet having some equity because of the discounted price.

HUD has not published the length of time these incentives will be offered.  Hurry and make home ownership a dream come true!