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Hud Foreclosure Listing Article
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The Quality of the Neighborhood is an Important consideration when Purchasing a Foreclosure Home
from:When you are prospecting for a foreclosure, home the neighborhood should be taken into consideration. We all want to have a great home, but the neighborhood also plays a big part in the value of the foreclosure home purchase.
Investigate the area:
• What is the surrounding property like? Is it well kept or rundown? Is it a residential area exclusive to homeowners or is there a mixture of homes and rental units sandwiched together?
• Is the community stagnant, deteriorating, or being built up?
• Is there commercial property in the area? Are their retail stores and grocery chains either already in the neighborhood are considering coming into it?
• Will you have easy access to retail outlets without having to use your car each time you need a loaf of bread or and gallon of milk?
• Do you have access to buses and taxis, trains, subways or other public transportation?
• How many for sale and for rent signs are visible? From a foreclosure home purchase standpoint, it is always a more lucrative investment if there are more homeowners than renters or tenants in the immediate area. Property values are higher in an area that caters to homeowners.
• Not only is it important to consider the condition and age of the foreclosure home you are considering, it is also important to look at the age and maintenance level of all the homes in the area.
• Similarly, consider the age and quality of the cars in the area as well as the city maintenance of the roads and streets. Are there quiet residential streets or busy thoroughfares?
• Are the sidewalks clean and litter free, is there a good quality trash collection system, are the public parks well maintained?
• Are there community centers, schools, training centers, career opportunities in the area or close to the area in which you would like to buy foreclosure home?
• How good are the schools rated in the area?
• Consider the noise factor if you will purchase a foreclosure home in the vicinity of a industrial park, opposite an elementary or high school, or within the downtown core where there is traffic congestion, night clubs and various other night life activity.
• What is the level of security in the area? Are there hospitals, clinics, fire stations, and police stations? Is there a neighborhood watch?
• What is the crime rate in the area?
As you can see from the details provided above that purchasing a foreclosure home is more than merely living in a home, it is a community investment. For more tips on community living click on the site U.S. Department of Housing and Urban Development
Hud Foreclosure Listing News
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Struggling Homeowners Have Concerns About Mortgage Relief Help MarketWatch (press release) "For the millions of homeowners who still face possible foreclosure, it is important to remember that quality help is available for free from HUD-certified housing counselors nationwide." 25 percent reported they or someone they know needed assistance ... |
Homeownership Preservation Foundation Comments on Latest HUD Studies to Prove ... - MarketWatch (press release)
Homeownership Preservation Foundation Comments on Latest HUD Studies to Prove ... MarketWatch (press release) The 18-month HUD studies examined the impact of HUD-approved housing counseling for families considering the purchase of a first home and for those facing foreclosure. According to HUD, housing counseling significantly improved the likelihood of ... HUD Study: Housing Counseling Helps Prevent Foreclosure Facing Foreclosure In Hendry? Here's Help |
HUD: Banks mail mortgage cut letters to borrowers - MarketWatch
HUD: Banks mail mortgage cut letters to borrowers MarketWatch By Ronald D. Orol WASHINGTON (MarketWatch) - Big banks are mailing letters offering to cut mortgage debt for hundreds of thousands of borrowers as part of a $25 billion foreclosure abuse settlement with state attorneys general, US Housing and Urban ... |
HUD STUDIES SHOW HOUSING COUNSELING HELPS FAMILIES PREPARE FOR HOMEOWNERSHIP ... - RealEstateRama (press release)
HUD STUDIES SHOW HOUSING COUNSELING HELPS FAMILIES PREPARE FOR HOMEOWNERSHIP ... RealEstateRama (press release) In both studies, HUD found housing counseling significantly improved the likelihood homeowners remained in their homes. Both the pre-purchase counseling and foreclosure counseling studies enrolled clients in the fall of 2009 and early 2010. Romney to do away with HUD if elected HUD officials to visit Saipan |
New Website Offers Free Access to Foreclosure Listings - Albany Times Union
New Website Offers Free Access to Foreclosure Listings Albany Times Union A plethora of new or returning real estate agents with little experience with foreclosures and new websites popping up which demanding ridiculous membership or access fees, have limited numbers of foreclosure listings, out-dated information and provide ... |