WASHINGTON – May 3, 2013 – Housing market observers expect the supply of homes listed by the Department of Housing and Urban Development (HUD) to swell over the next two years.
RealtyTrac reports that patient buyers may benefit from the uptick in distressed properties owned by HUD, which appeal to some buyers because of their discounted selling price. However, the current market is highly competitive, and the real estate is attracting many buyers and generating multiple offers.
Meanwhile, lenders continue to work through a backlog of foreclosures delayed by problems with legal reviews.
A HUD home purchase has pros and cons. Since the rules differ from other home sales, interested buyers should understand the ins and outs of HUD-owned homes, and the best practices for pursuing and making offers in order to land one at a good price.
Source: Housing Wire (04/29/13) Hopkins, Megan
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688
RealtyTrac reports that patient buyers may benefit from the uptick in distressed properties owned by HUD, which appeal to some buyers because of their discounted selling price. However, the current market is highly competitive, and the real estate is attracting many buyers and generating multiple offers.
Meanwhile, lenders continue to work through a backlog of foreclosures delayed by problems with legal reviews.
A HUD home purchase has pros and cons. Since the rules differ from other home sales, interested buyers should understand the ins and outs of HUD-owned homes, and the best practices for pursuing and making offers in order to land one at a good price.
Source: Housing Wire (04/29/13) Hopkins, Megan
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688
No comments:
Post a Comment