Are HUD Home Prices Getting Higher?

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Real Estate Agent with Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton Licensed in GA & AL

Are HUD home prices getting higher? 

I have been pulling hud homes in Tallapoosa GA and hud homes in Haralson county for the last two weeks, and it appears that hud homes are being priced at a higher price point than before.

It could be that more higher end homes are now in foreclosure, or it could be some new appraisal method.

Is anyone else seeing an increased price point in hud homes in their area?

 

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Rainer
249,409
Bill Pohl
Tetra Homes, Inc. - Loveland, OH

Karen - You are correct. Nationally, higher end homes are replacing the lower priced homes in their inventory.

Jan 06, 2011 05:47 PM #1
Rainmaker
1,025,643
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I am not sure if that is a good thing or a bad thing.  I will think it is a good sign.

Jan 06, 2011 05:53 PM #2
Rainmaker
269,464
Dan Rosenberger
Harvest Realty - Westfield, IN

When the new system was put into effect, some of the old listings were transferred to the new companies.  I know of one where there was a list price of $100,000.  The old company had a price reduction to $90,000.  A bid was accepted for less than $70,000.  But apparently the buyer did not get their paperwork in correctly because it is now back on the market with the new company for $100,000.  The new companies are not doing the price reductions as often as before.

Properties not eligible for FHA financing are available to investors after five days.  But those that are eligible for FHA are not available to investors until 30 days.  So manybe the lower priced properties are selling quicker.  Could that make a difference in the average price?

In any case, there are about twice the number of HUD Homes available in my state right now, compared to last summer under the old company.  So this is not a good time for HUD to be over-pricing their homes (if that is what is happening.)

Jan 06, 2011 06:05 PM #3
Rainmaker
181,027
Karen Steed
Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA
Associate Broker Haralson Realty

Bill - Thanks for the comment.  I glad someone else is seeing this

Tim - I don't think it's a good thing for my area.  The people in my area still don't have jobs...and if you don't have a job, you can't buy a house.

Dan - I know what you mean.  There are so many houses out there...who is going to be able to qualify to buy them?

Again, thanks all for the comments

Jan 08, 2011 02:56 AM #4
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Rainmaker
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Karen Steed

Associate Broker Haralson Realty
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