HUD home… What are they? Why should I buy a HUD home? These homes have many benefits, and are unique in many fashions. We will be covering the benefits, and what they mean to the Maricopa real estate market. Here in Maricopa Arizona HUD homes can account for up to 10% of the total homes for sale. With such a large portion of the inventory being, they truly have become a must know part of the real estate market in Maricopa. With the recent changes in strategy and the new processes that have been established, buying a HUD home has never been easier. Check with your local Prudential One Realty agent for all of the HUD homes for sale in Maricopa Arizona, and all of Pinal County.
What is a HUD Home?
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. They become the property owner and offers it for sale to recover the loss on the foreclosure claim. With so many FHA loans in Maricopa and other cities in Arizona during the boom years of 2004-2007, it is only natural that a lot of these types of loans are starting to default, thus becoming a HUD home. Maricopa, Casa Grande, and a lot of other rural areas in Arizona have been exposed to FHA defaults. At least it is with a reliable source , with a reliable process.
Benefits of buying a HUD home
- HUD homes are priced to sell
- The process to buy a HUD home is simple and straight forward.
- Government backed, thus great programs, leading edge processes, and solution based ideas!
- Creative financing options for buyers including:
- low down payment programs
- Competitive rates
- FHA insured financing
- Creative purchase programs (GNNP)
- Great one stop shop resource in www.hushomestore.com
- HUD Home Store is the listing site for HUD real estate owned (REO) single-family properties. This new site provides the public, brokers, potential owner-occupants, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale. In addition, registered real estate brokers and other organizations can place bids on behalf of their clients to purchase a HUD property. HUD Home Store also includes many informative user-friendly features providing advice and guidance for consumers on the home buying process.
With the foreclosure market in Maricopa staying steady, HUD is positioned to play a major role in the real estate market going forward. HUD homes for sale in Maricopa Arizona have increased in listing share, and total sales. Here at Prudential One Realty we have taken the steps necessary to train our agents to be efficiently take you through the process. HUD homes for sale in Maricopa Arizona are great homes to buy, priced right the first time around, and give you creative financing options to use. What are you waiting for? For more information on HUD homes for sale in Maricopa Arizona, and other cities in Arizona, please contact your local Prudential One Realty agent.
