In today’s real estate environment where home values have declined during the past year, it is critically important not to over pay when purchasing a home. Why, you ask, would someone purchase a home in this troubled real estate market?

If you do not own a home, lower prices for homes plus historically low interest rates on mortgage loans, make it a great time to buy a home. Recently, we had a client close the purchase of a HUD home for $73,000. The home was a 3 bedroom, 2 bath with a 2 car garage and a finished basement. The home sold for $146,000 three years ago. At $73,000 the total monthly payment for my client is $547.81. And that is principal, interest and taxes. A landlord would be asking $950 to $1200 for monthly rent on that house.

Exit Realty Tri County is a registered HUD broker and only registered brokers and their agents can place a bid for a client on a HUD home. So, why a HUD home? Simple:

· Purchase with $100 down

· Have your closing costs paid by HUD

· Buy a HUD home that has been on the market for less than 30 days; received a $1000 buyers credit

· No cost for an appraisal, termite inspection and a home inspection is supplied by HUD