We have several potential buyers who have been looking at purchasing a home offered through the HUD Housing program.
The process to purchase a HUD home is very simple.
HUD has a list of homes, they allow you to inspect, you can than fill out a bid form via the net for the home, HUD is supposed to notify you if they accept your offer.
There`s only one major problem, HUD doesn`t seem to be in the market of selling their inventory,many of the same homes continue to remain on their web site,which i find very interesting.
The entire purpose of owning a HUD home is to insure these homes are sold to those who need them!
From the HUD web site "Oversees home ownership, low-income housing assistance, fair housing laws, homelessness, aid for distressed neighborhoods, and housing development programs."
It`s a great "Mission Statement",but if HUD isn`t paying any attention to their bidding process,how are they helping those who are seeking assistance?
Even more curious are the actual prices these homes are selling for. In some cases these homes are actually "Priced Higher' than homes on the MLS.
Strange as it seems, I wonder who`s paying attention to the "Housing Market" inside of HUD,it`s apparent there`s something wrong with the current system.
It`s too bad HUD doesn`t have their act together because there are many people they can serve with this program.
I`m wondering if this problem is occurring in other states?
;)
;)
