How To Get A Killer Deal On A HUD Foreclosed Home in Coeur d'Alene, Idaho.

By
Real Estate Agent with Lakeshore Realty 208-714-4109

How to get a killer deal on a HUD foreclosed home in Coeur d'Alene, ID is really very easy once you understand how it works. Most HUD  homes in Coeur d'Alene, ID are listed at a reasonable price and usually sell very quickly. The HUD homes with the best price are ignored by most buyers because the description is not accurate.

Since HUD is a big government agency they have lots of rules to cover everything they do and they have chosen to adopt East Coast rules for the whole country. In the Eastern US they don't count the below grade (basement) square footage or the basement bedrooms.

Here in Kootenai County we count all the heated living space and all the bedrooms regardless of what floor they are on. We have many 2 level homes here built on a slope with only half the basement in the ground. We call this a daylight basement. One side of the basement has windows and at least one door to the outside.

This is the type of HUD home you might get a killer deal on in Coure d'Alene,Idaho. Example: Say the home is 2600 square feet with 4 bedrooms and 2 bathrooms. The local HUD broker must enter this home into the MLS as a 2 bedroom, 1 bath, 1300 square foot home. These homes are usually priced as if they were something in between the 2 sizes. Most buyers and even most Realtors don't bother with them as they appear to be slightly overpriced.

Here is an example of this situation, it's a poor example, but it's the only one available right now. It's an older home with a basement but it's not a daylight basement. The Kootenai County tax assessor shows the home at 2639 square feet with 3 bedrooms and 2 bathrooms which is correct. The listing shows 1362 square feet with 2 bedrooms and 1 bath.   

Click here to see all the foreclosed homes in Coeur d'Alene including the HUD foreclosures.

So what is the answer to: How to get a killer deal on a HUD foreclosed home in Coeur d'Alene, ID.? Use a Realtor who is experienced with HUD homes and checks every new HUD listing to see if it is one of these extra good deals and is willing to take the time to call you quick when a good deal comes on the market.

I have been finding my buyers good deals on homes for  20 years and am happy to answer questions for first time home buyers or investors.

 

Posted by

 

Wayne Jackson Realtor

Lakeshore Realty

1100 E. Lakeshore Drive.

Coeur d'Alene. Idaho

208-714-4109

www.RealIdahoHomes.com

Comments (0)