In today’s real estate environment where home values have declined during the past year, it is critically important not to over pay when purchasing a home. Why, you ask, would someone purchase a home in this troubled real estate market?
If you do not own a home, lower prices for homes plus historically low interest rates on mortgage loans, make it a great time to buy a home. Recently, we had a client close the purchase of a HUD home for $73,000. The home was a 3 bedroom, 2 bath with a 2 car garage and a finished basement. The home sold for $146,000 three years ago. At $73,000 the total monthly payment for my client is $547.81. And that is principal, interest and taxes. A landlord would be asking $950 to $1200 for monthly rent on that house.
Exit Realty Tri County is a registered HUD broker and only registered brokers and their agents can place a bid for a client on a HUD home. So, why a HUD home? Simple:
· Purchase with $100 down
· Have your closing costs paid by HUD
· Buy a HUD home that has been on the market for less than 30 days; received a $1000 buyers credit
· No cost for an appraisal, termite inspection and a home inspection is supplied by HUD
Feel free to search for HUD homes on this page. And visit our site as many times as you like. If you have any questions or you would like to be shown a home, feel free to contact Bill Thomas, Broker, Exit Realty Tri County.
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