Tagged : HUD

There are currently 3 blog entries matching this tag.

Meridian ID bank-owned homes are down significantly compared to 2011.  In fact, December 2012 posted the lowest number this past year for REO and HUD properties with 9.  That's roughly a 72% drop from the year before.  Most months in 2012 had fewer than 20 bank-owned sales.  The chart below shows the dramatic change for sales of bank-owned homes in Meridian since 2011.  Each month in 2012 posted significantly lower numbers than the same month in 2011.

Meridian Bank-Owned & Hud Homes 2011 vs. 2012

Of the 9 Meridian ID bank-owned homes sold in December, none were in the same subdivision.  However, 6 of them were sold in Northwest Meridian.  Of the remaining three, 2 properties were sold in Northeast Meridian and the remaining one was in Southeast Meridian. The prices of those homes ranged from

5,178 Views, 0 Comments.

HUD Homes are homes owned by the U.S. Government.  "HUD"stands for the U.S. Department of Housing & Urban Development.

How Do Homes Become Owned By HUD?

When a person buys a home using an FHA loan (Federal Housing Administration), FHA guarantees the loan against default for the lender (e.g. BofA, Wells Fargo, etc.).  If the homeowner defaults on the FHA backed loan and goes through foreclosure, FHA pays off the lender and HUD is given title to the property.


Who Can Buy HUD Homes?

Both owner-occupants and investors can purchase HUD Homes (as well as governmental agencies & non-profits).  Typically, HUD will review owner-occupant offers after a period of 10 days on the open market.  Investors offers are typically not considered for the first 30…
1,900 Views, 0 Comments.

The Boise foreclosure market share has continued its steady decline through 2012.  In September, foreclosures accounted for just 22%, which is the second lowest we've seen since the market had its downturn.  The only month that was lower was August at 20.5%. Comparing this to a year ago, this is approximately a 50% reduction in the number of foreclosures in Boise, Idaho.

Foreclosure Market Share 2012

When gathering this Boise foreclosure market data, we are looking at bank-owned homes, short sales, and HUD homes.  Most notably bank-owned and HUD homes have dropped 73% since January.  Short sales have declined slightly.  The graph below shows the trend for those sales in 2012.

Boise Foreclosures By Type 2012

While the number of Boise foreclosures have been going down, overall Boise real estate sales

1,525 Views, 0 Comments.