It seems like everywhere you turn nowadays, it's "HUD this" and "HUD that." There are over 4,000 HUD properties in the state of Ohio alone!
You want me to backup? What's HUD? Let me explain.
HUD is a department of the Federal Government and stands for Housing and Urban Development. When a homebuyer, who had an FHA loan on their home can no longer afford to make payments and is going into foreclosure, HUD becomes the new owner of the home and tries to sell it back to the public to recoup as much of it's money as possible. Normally these homes are in need of some rehab and updates, so normally they're priced much lower than the Assessed and Market values. And sometimes you can find a gem/diamond in the rough.
Who can buy HUD homes? Simply put: Anyone who qualifies. It doesn't matter if you're an owner occupant or an investor or whatever.
And because there are so many HUD owned properties available right now, HUD has hired a management and marketing company called National Home Management Solution, LLC (NHMS) to help maintain these properties and get them sold. Obviously, the sooner they sell, the happier the government will be. And with so many of them right now, the way the government is looking at things is like this: there's a whole lot of money sitting out there, doing nothing.
If you didn't know, my brokerage, Keller Williams Greater Columbus Realty, has been selected as one of a few Local Listing Brokers here in the Columbus area, meaning we get some of the HUD listings. We get to put them in the MLS and we get to put our signs in the yards of some of these houses.
I have been fortunate enough to be selected as one of a few agents from my brokerage to help market these homes, and in the past month or so, I have listed 3 HUD homes. This is probably going to be a continuing trend, so continue to watch for my updates about new HUD listings here in the Columbus area.
Here are my 3 HUD listings right now:
Dan Hamilton
Keller Williams Greater Columbus Realty
www.HamiltonHomesGroup.com
No comments:
Post a Comment