Just Sold 8773 Blantyre Blvd Stone Mountain GA HUD Owned Foreclosure - My first time buyer client just got a deal on this HUD owned foreclosure in Deer Creek Subdivision! It sold for $168,900 on November 23, 2009 which is over $67,000 less than it sold for in 2004!
This 4 bedroom, 3 full bath home has a 2 story family room with fireplace, huge unfinished daylight basement and a 2 car garage. It was built in 1999. The master bedroom is amazing. There's a 2 sided fireplace that is viewable from the sitting room in the master bedroom and from the really spacious master bath. There's some cosmetic changes my client wants to make but this house is completely livable.
The only repairs that needed to be done on this HUD home was to replace the missing air conditioning units. Financing of repairs can be done with a 203B repair escrow.
HUD owned foreclosures can be bought with $100 down, instead of the typically required minimum of 3.5% down payment for FHA insured loans.
There are a few things to remember when buying a HUD owned foreclosure:
- Utilities will not be on. Bring a flashlight for initial viewings.
- HUD will not pay to turn them on for your inspection.
- It's the buyers responsibility to pay to have utilities turned on.
- Paperwork must be submitted to HUD for requests to turn on utilities.
- Keys will not be given at closing. It's the buyer's responsibility to change the locks after closing.
Home Buyers can take advantage of the Home Buyer Tax Credit, now available until April 30, 2010.
View HUD homes for sale in Georgia. Contact Jen Bowman, Realtor & Broker Associate with Success Realty and registered HUD agent at 404-456-5024 to view and bid on homes in the metro Atlanta, GA area.
Read more of the Georgia Real Estate Voice for additional Home Buying Programs including down payment assistance.
Info on Dekalb County Down Payment Assistance
Info on Georgia Dream Down Payment Assistance
Info on the Neighborhood Stabilization Program (NSP)
Info on Buying a HUD owned Home with $100 down
Info on Making Home Buying Easier
Search for Homes in Cobb County, GA including Smyrna, Vinings, Marietta, Acworth, Powder Springs at www.HomesforSaleinCobbCounty.com.
Search for Homes in Dekalb County, GA including Decatur, Atlanta, Dunwoody, Tucker, Stone Mountain, Avondale Estates, Lithonia, & Ellenwood at www.DekalbHomeSearch.com.
Search for Atlanta's Luxury Homes including Cobb, Fulton, Dekalb and Gwinnett at LuxuryHomesGA.com
Realtor Jen Bowman has been featured on HGTV's My First Place, HGTV's Buying and Selling 20 Best Kept Secrets & Inman News - where real estate and technology connect. She is a proud member of Keller Williams Realty Atlanta Partners Agent Leadership Council. Jen is also a member of Keller Williams Realty Luxury Home Division, catering to luxury home buyers and sellers. Call or text 404-456-5024 today to get started buying your dream home in Dekalb or Cobb, selling your current home in Dekalb or Cobb, or learning more about an awesome career in real estate.
Someone got an absolute bargain. It is totally mind-boggling that they paid $169K and they only had to put in the air conditioning units.
Jen congrats on your sale! The curb appeal of the property is excellent.
Hey, Jen.
One down, and many more thousands to go!
Jane, It was an amazing deal. My buyer is thrilled.
Thanks Bill! This home does have great curb appeal. A few cosmetic interior changes like fresh paint and removal of a little wallpaper, this house will be even better.
Thanks Russel. The good thing about selling HUD homes is that an inspection has already been done by HUD and we have a pretty good idea of the work that needs to be done. We always get an independent inspection for the buyer's protection though.
Congrats on your closing Jen! Here in Ohio, most HUD owned properties are terrific deals for buyers, and they won't have to jump through hoops compared to bidding on a REO.
Jen the is a fantistic price for the house. This is a great time to be purchasing houses for those that hve the money.
Hey Jen - congrats on the sale - I worked a few HUD homes here and they are great - low prices and most of the work is already done by HUD - just a ton of paperwork!
Thanks Susanne. It's definitely more of a streamlined process than working with a typical REO.
George, It is a great time to be purchasing. My buyer got a great deal, in addition to the Federal Tax Credit of $8000 and the GA Tax Credit of $1800.
Thanks Randall. You are so right about the paperwork and they won't allow electronic signatures. Oh, I dream of the day... :)