Why are Utah HUD homes priced so low?

Utah Real Estate

Showing a great number of homes in Utah has given me a good feeling of the market pulse for Utah real estate and prices. I get a lot of requests to show HUD homes, simply because the usually qualify for an FHA loan and the are priced very low for the area.  Once I show a client the home and then show what the area is selling for, they often ask ‘Why are HUD homes priced so low?’  I have heard several answers to their own question, some being ‘HUD is creating a bidding war’, ‘HUD just wants to get rid of it’ or ‘They know something about the house’.  Fact is, it is none of those reasons.

Before I can accurately answer that question, let me first explain what a HUD home is.  Most buyers in today’s market purchases a homes with a FHA loan (Federal Housing Administration) because…

View original post 464 more words

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s