Did you know some buyers may qualify for $100 down Homes in Spokane? According to HUD’s REO website, they are extending their $100 down program for HUD owned homes. 

According to their website, the qualifications include:

FHA Special Sales Incentive (UPDATED: 10/01/2009): Alaska, Idaho, Oregon, & Washington

October 1st, 2009

HUD will continue to offer a $100 Down Payment initiative. The $100 down payment is for owner occupants (any individual who purchases a HUD home as their primary residence for a minimum of 12 months after closing and who has not purchased a home from HUD as an owner occupant in the past twenty four months), utilizing FHA financing. This incentive is also available to owner occupant purchasers who obtain an FHA Home Repair loan. Note: Earnest Money Policies and all other contract requirements will remain the same. In order to qualify for this incentive the buyer must purchase at HUD’s appraised value or lower, obtaining a second appraisal to justify an overbid is NOT allowed, and the purchaser cannot finance closing costs, prepaids, etc. into the loan. $100 down payment financing is available on most properties through FHA approved lenders It’s a great time to purchase a HUD Home with FHA financing.

What does this mean for qualified buyers?  HUD homes can be purchased for as little as $100 down as opposed to the traditional 3.5% down.  There are some qualifications and restrictions (as with anything) but for those a little tight on finances this option may be great.

Interested?  Drop us a line.

Tags: Idaho Real Estate, Spokane Real Estate by Spokane Home Guy (509) 990-7653
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I’ve been watching inventory trends in the Spokane Valley for several weeks.  By far the most bloated price range is $175,000 to $199,000 with a whopping 17.5% of all the listings in the Spokane Valley packed into this one price range. 

This happens to be a pretty hot price range for First Time Buyers so this “bloat” only equates to 8.7 months of inventory only slightly higher than the Spokane Valley’s 7.2 overall average.  Sellers in the 175-199k price range can expect to spend an average of 119 days on the market (2 days shorter than the Spokane Valley’s average).  If you happen to be a seller in this price range, consider a price drop below $185,000 as the bulk of the sold homes this year in that price range have sold below 185,000.

What about other price ranges?  The Spokane Valley has a few “troubled” ranges with 20+ months of inventory sitting on the books. Most price ranges over $375,000 have 18 months or more of inventory – some could not even be calculated.  If you are in these price ranges – don’t worry – buyers are still out there, but they want the same for less or MORE for the same.  Now more than ever it’s important to highlight the key features of your home and in some cases get your price down some to show value to potential buyers.  Regardless – you will spend a little longer on the market than average, but if you price your home with the market and your home is marketed correctly, you will sell.

Do you have a Spokane Valley Home you’d like evaluated?  We have a GREAT MARKETING PLAN, and would love an opportunity to show you what we can do.  Set up an appointment here.  Don’t worry if you’re looking to Buy a Spokane Valley Home For Sale we have a site for you too!

Tags: Spokane Real Estate by Spokane Home Guy (509) 990-7653
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 In the spirit of the holidays and, well, Real Estate – I wanted to share some of my favorite ideas for home related gifts.  Many are mostly functional gifts, but with current economical times many gift-buyes are leaning towards a more functional gift this Holiday Season.  Here are four of my favorites:

Give the Gift of Warmth: with an Avista gift certificate that can be used just like a check to pay heating bills.  Energy bills can often be one of the largest expenses a family has during the holidays, and the gift of warmth will be remember year-round!

A Home Warranty:  Can you say budget protetion?  The gift of a Home Warranty can cover many unexpected household failures from appliances to broken pipes.  The home warranty is a sensible gift for any homeowner.

Carbon Monoxided & Explosive Gas Detector – admitedly not the “funnest” gift of the season, BUT Carbon Monoxide is the number one cause of poison related deaths in America.  A simple $50 gift can save the life of your loved ones.   I prefer the one with the explosive gas detector to alert me if my furnace stops functioning correctly.  This is a must have!

Address Plaques are in!  We’ve had several of these and there’s  no better way to add some fun to the front of your home than with a custom address plaque. 

Do you have a favorite home related gift?  Do share.

Tags: Fun, New Ideas by Spokane Home Guy (509) 990-7653
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