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
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.
The Housing Guru: The one source for all your housing questions