Buying Brentwood Government Owned Homes
Why buy a Government Owned Home? There are a number of good reasons to Purchase a Government Owned Home. There is often Special Financing on Government Owned Homes. Many of these homes can be great for Investors not afraid of some work.
However, there is one very good reason First Time Home Buyers should consider Government Owned Homes at this time. Most Government Owned Homes have a first look period where only Owner – Occupied Buyers can purchase the home. This means you do not have to compete with the Investors who are dominating this market right now.
There is also a big advantage in Buying a Fannie Mae Home (A Government Backed Program) with HomePath Financing. There is no appraisal required. Many non-cash buyers see the value in a home and would like to bid up the price to get the house. Sadly unrealistically low appraisals keep them from doing that in this market. The appraisal system is not set up to accommodate rising prices like we have now in the housing market. Both with HomePath Financing the only limit is what you can afford to pay and what value you put on the property.
What Government Owned Housing Programs are there? Well probably more than even I know about. But in Brentwood Ca here there are 3 types I typically see: HUD Homes, Fannie Mae Homes, and Freddie Mac Homes.
If you think a Government Owned Home Purchase might be a good strategy for you call Home Point Real Estate at 925-260-4231.
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