HUD Homes for Sale in Lake Elsinore, California
Right now, as of 8-18-2010, there are two homes listed for sale on the HUD website for Riverside County with addresses in Perris. Both are 4-bedroom homes. They were built in 2007 and in 2008, so they are newer tract homes. Remember, while some investors are finding great opportunities to pick up HUD homes, the real goal of HUD is to have people buy homes, live in them and contribute to rebuilding communities through owner-occupant homeownership. These HUD homes in Perris, in newer tracts, would be this type of single family home that HUD encourages owner-occupants to purchase.
Out here in California, HUD homes are bought or sold in the following way: In California and other states such as Georgia and Hawaii, a company called HUD PEMCO is contracted by HUD to sell homes for the department of Housing and Urban Development (HUD). The HUD Pemco company chooses certain of the HUD-registered brokers to act as listing agents for the homes.
HUD Pemco puts the HUD homes for sale in Perris, as well as all the HUD homes for sale in Riverside County, on the www.HUDPEMCO.com website online for interested buyers to review the HUD home listings and submit offers. You can search homes by County, City, or Zip Code on the HUD website for California. Those listings do not include some information that typical real estate listings on the Multiple Listing Service (MLS) typically do. In fact, the HUD PEMCO listing usually has only one picture, if any. However, the HUD PEMCO listings do frequently have information on property condition, such as an appraisal or property report.
Here's what the HUD PEMCO website looks like to get started looking to buy a HUD home in Perris, or elsewhere in Riverside County, or the rest of Southern California. The HUD homes for sale in Northern California are found using another search page that looks substantially the same as this page. You access the two pages from the HUD Pemco home page.
In addition to that HUD PEMCO listing, HUD PEMCO's listing agent also adds the HUD home as an active listing for sale on the local Multiple Listing Service (MLS). In Riverside county, that is the MRMLS, or multi-regional MLS. Usually, the MLS listing has a lot more description and pictures than HUD PEMCO's listing website and sometimes may link to the appraisal or inspection report that is posted on the HUD PEMCO listing.
How can you get that MLS info most easily? Ask your HUD-registered agent for Perris or Riverside County to find it on the MLS. Why use a HUD-registered agent? You're going to have to use a HUD registered agent to bid on the home, using the HUD PEMCO online website portal anyway; you might as well have that registered agent that will get paid by HUD PEMCO (remember, a buyer's agent works for you the buyer but gets paid from the seller's proceeds)... let your agent do some work for you: what do records show the taxes, is the HUD home in Perris or Riverside county in a homeowners association (HOA), what kinds of repairs are needed, etc.
As you might know if you've found my other posts about HUD homes in Riverside County, my husband's real estate brokerage is a registered agent to sell HUD homes in California. He and his agents are local to these areas: Lake Elsinore, Murrieta, Perris, Temecula, French Valley, Canyon Lake and the surrounding areas. They are great agents and nice people; you can see short bios on them at www.SandtoSeaProperties.com.