There are now 663 newly listed HUD owned homes on the market as of today.
HUD listed a total of 663 properties for sale throughout the country adding to their already healthy inventory.
Of those 663 new HUD owned home listings, 51 of the new listings are in California. Here in San Diego County, HUD listed 3 new HUD owned homes (FHA owned properties) for sale as well as two price reductions.
The total inventory of HUD owned properties in San DiegoCounty remains low, mirroring what is happening in the inventory of traditional listings of homes for sale in San Diego County,
There are a total of 10 HUD owned homes in San Diego County ranging in price from $75,000 (New listing in Campo) to $275,000 (New listing in San Diego 92114).
Homes owned by HUD, often referred to as FHA owned homes, are properties that HUD insured under one of their programs, primary FHA Home Loans, and were foreclosed on. The condition of these properties can vary just as with any other bank owned home. And as you can see, the price point of these HUD owned properties can also cover a wide range.
Traditional FHA financing can be utilized to finance any of these HUD owned homes. The properties will need to meet minimum condition standards but, often, properties requiring repairs will be offered for sale by HUD with a repair escrow amount that can be used to make the repairs. These homes, as well as any other home financed using FHA financing, are eligible for 203K financing.
203K loans provide funds to make improvements on the property post closing.
Call, text or email me to find out more about financing HUD owned homes or the 203K loan.