PeteMoss Posted February 20, 2021 Report Share Posted February 20, 2021 I stumbled on this accidentally. WOW. A house at half price. WOW. https://www.hsh.com/first-time-homebuyer/mortgages-for-teachers.html A 50% discount on a home's purchase price A $100 down payment with FHA financing The ability to finance closing costs Quote Link to comment Share on other sites More sharing options...
2pelo Honey Posted February 20, 2021 Report Share Posted February 20, 2021 The one thing good about it is it has to be a HUD home. Quote Link to comment Share on other sites More sharing options...
Laura May Posted February 20, 2021 Report Share Posted February 20, 2021 There are homes for teachers. People need a place to live they are homeless. Quote Link to comment Share on other sites More sharing options...
ginger Posted February 20, 2021 Report Share Posted February 20, 2021 So that's why some run down shack in the Catskills was going for $300,000. I wouldn't have paid $16,000 for it...I wish I could find the photo...you would have cringed seeing this listing. Quote Link to comment Share on other sites More sharing options...
2pelo Honey Posted February 20, 2021 Report Share Posted February 20, 2021 There are FHA max mtg amts for all counties, and a HUD home is a previously financed FHA F/C. There is also a side effect from COVID that people from the NYC area are scrambling to buy houses upstate, which is the probable explanation for that property in the Catskills. Plus, how much land came with it, and where exactly was it located? I have local family members that are possibly fixing to sell, after seeing neighbors getting $50k+ over asking price. Quote Link to comment Share on other sites More sharing options...
PeteMoss Posted February 21, 2021 Author Report Share Posted February 21, 2021 Real estate is hot right now. Building supplies are going through the roof. Quote Link to comment Share on other sites More sharing options...
ginger Posted February 21, 2021 Report Share Posted February 21, 2021 Toup. they tried to market it as an historic property...there was no land...it looked like a run down shack you would see by a railway and it was maybe 6 inches away from some building. I wish I could recall what town it was in. Downstate is so dumpy...tons, of what looks like abandoned property. Quote Link to comment Share on other sites More sharing options...
2pelo Honey Posted February 21, 2021 Report Share Posted February 21, 2021 Wow...if ever there were a time they might have gotten that, it probably would’ve been last summer. Then again, all it takes is one buyer. Hopefully, they have cash, and don’t need bank financing, b/c those appraisals rarely work. Quote Link to comment Share on other sites More sharing options...
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