HUD has issued a Stop Work order for all Contracts as of November 5. 2010 in New England. I can not say this hasn't hit other areas of the country. If you search for HUD homes on the MLS, you won't find any in New England. Have you ever heard that New England is a Test Market. I can vouch for my clients first and for myself next, that we don't like being Tested in this manner.
This Displaces two famililes and two deals for my family. How many other buyers will experience this? My clients are out their fees for inspections, appraisals, and rate locks. And they are back on the market with a need to solve a housing crisis. What realtor wouldn't thank heaven for two clients like that. Well.........under the circumstances?
Funding issues has HUD changing contractors and it seems as they go through this change, there will be no activity on government owned homes. Closings and sales of government owned homes will cease. When they will start again is anyone's guess.
About the Author: Marty Patrizi is a Realtor with Virtual Homes Real Estate Amherst, New Hampshire. Marty can be reached at 603-781-4099 or by email marty.patrizi@virtalhomes.com.
For FREE ACCESS to the MLS system, register at Marty Patrizi Realtor and follow the prompts to the map based search.
Comments(0)