Houses for $100 down!!!

That's all you'll need for a down payment to buy a foreclosure offered for sale by the government. 

This sounds like a heck of a deal: HUD now only wants $100 down to close the deal.

Yes, the U.S. Department of Housing and Urban Development has brought back the $100 down payment plan in Southern and Western states. It could be a tremendous opportunity for some people -- first-time homebuyers or perhaps those who are close to retirement and are looking to downsize to a smaller home. (Some of these are modest homes in locations where jobs may be scarce. Others are large homes in metro areas.)

Summary:

• The $100 down program is available only for people who will live in the home, not investors.
• Your real-estate agent has to submit a bid for the house online.  
• You have 12 months to get in on this deal.
• Your financing must be FHA-insured.
• You might have to have more skin in the game. 
  Explanation: The $100 down payment incentive is only available if the purchase price of the home is equal or less than the appraised value of the home. If you have an accepted bid for over the appraised value of the home you must bring the difference as down payment to the closing.
   

So, what might you buy with $100 down? You can find a database of HUD-owned homes here. (Click on each state in the map to see what's available.) There's quite a range, judging from the descriptions and photos of the properties. And the list can change every day.

Please contact us if you are seeking a home, investment property and financing.

 

How Fall Changes the Housing Market - and What to Do About It

The fall housing market is a very different beast from the spring market. The spring is traditionally a boom market, with plenty of homes up for sale and plenty of opportunities to bid on the right home. Spring markets also bring bidding wars, though, and it tends to be more of a seller's market than a buyer's market, so spring is a great time for variety but not necessarily for getting the best deals.

The fall and winter housing market is an entirely different entity. In the fall, people are settling in for winter. They're winterizing homes, kids are starting schools and people are preparing for the long, cold months ahead. Homeowners with kids are far less likely to sell at this time of year and disrupt schooling, and even in the warm climates the winter months are full of holidays and other obstacles that present difficulties for selling.
In short: the fall and winter pickings are slim.

The cold months do have an advantage, though; people who sell during fall or winter are typically more motivated to sell, and are doing so because of a life change. People who put their homes up for sale in the spring or summer may just be looking to see what the market will bring. People selling in fall and winter typically really need to sell, which means you might just get a better deal on a home.

Ultimately, you'll have fewer choices in the fall and winter. That doesn't mean you can't still find your dream home, though. You'll just need to look a little harder, and be a bit more aggressive. It helps to have an experienced professional on your side, though; one who knows the fall and winter market and where to find some of the best deals during the long, cold slow months. That's where we come in.

Don't miss out on the great deals you can find in the fall and winter just because they're more difficult to come by. Fill out one of our Creative Homeowner Solution Requests and we'll get on the job. We know where to find great deals, and can help you get the financing you need to buy the home you've always wanted. Take advantage of the slower months to get your dream home - today.

Please CLICK HERE and see our current listings.