Chris Dunham~The Real Estate Guy!: Mesa HUD Homes for Sale - HUD Homes on the AZ Market

Mesa HUD Homes for Sale - HUD Homes on the AZ Market

Mesa HUD Homes for Sale - HUD Homes on the AZ Market

Currently (as of August 15) there are 2 HUD Homes for Sale in Mesa, AZ. One is located in a regular neighborhood community, the other, in a 55 Plus, active adult community. What is a HUD home? The easiest way to explain is this: It is a home that has gone through the foreclosure process, failed to sell at auction. The bank takes it back as a Real Estate Asset, then decides in lieu of keeping it, they sell it to the Govt. IE, HUD. The price of this sell (Bank to Govt) is typically less true market value.

There are some occasions, where HUD will take over the home prior to it going back to the bank by offering a Deed in Lieu of Foreclosure or they'll grab it at the Trustees Sale. Either way, its now a Govt. owned home and historically, this means a discounted price to the home buyer.

This HUD Home was built in 1974. It features 3 bedrooms and two bathrooms with just over 1,700 square feet along with a swimming pool. Now, its important to note, all HUD Homes are sold 100% as-is. What you see is what you get, they will not fix anything or offer any allowance in lieu of repairs. This particular home is subject to an FHA Appraisal. Some of its features included an RV Gate, Parking Slap and a enclosed patio area. The kitchen is large and feeds into the living room (or great room as some people refer to it). Price tag is $269,000. Value is strong on this one, as the comps suggest a range between $260k and $287k

This next HUD Home in Mesa is priced at $196,000 and its value range is between $196,000 and $2016k with an ideal price of $206,000 if I were to list it today as a traditional sell.

This one is located in a 55+ Community, IE, an Active Adult neighborhood which requires its occupants to be at least 55 years old. Located off Higley and Southern in the Sunland Village Community, this HUD Home has 2 bedrooms and two bathrooms. The community features a Golf Course, Tennis Courts and Shuffleboard.

For more information on the HUD Home Buying process, reach out today. When the market took a turn for the worse about 10 plus years ago, I was selling and closing 60-70 HUD homes a year. They are not the "smoking deal" they used to be, but still a nice option for a first time buyer, looking to get into a home below market value, that isn't afraid of doing some work.

 

 

 

 

Chris Dunham
"The Real Estate Guy!"®
602-321-6188
Chris@RLS8GUY.com

 

Keller Williams East Valley - LuxRE Group
The Real Estate Guy®

"Equal Housing Opportunity"

Comment balloon 0 commentsChris Dunham • August 15 2019 05:12PM

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