Posted by
admin on Dec 13, 2009 in
Listing,
Marketplace,
Real Estate,
for sale
4 Bedroom, 2.5 Bath 2 Story HUD Owned Single Family Home (IE5630276)
Location: Maple Glen
Make the next big step in this 2-story 4-bedroom/2.5-bath HUD owned home on 0.46 acres in Atco. This comfortable floor plan delivers a traditional dining room, relaxing family room, casual living room with carpeting, fireplace for winter days, laundry with w/d included, kitchen with dishwasher, electric range, refrigerator, pool, deck, porch, 1-car garage, fenced yard, patio.All properties are sold in ‘As Is’. Please call Terry for more information.
Information
Contact Information
Terry Iwaniw
Direct: 609-417-10
Office: 856-795-3111 x263
Pricing
Price: $215,000
Additional Pricing Information: HUD requires deposit at time of offer.HUD requires proof of funding or mortgage pre-qual at time of offer.Contact agent to request Property Condition Report.
Property Location
1100 Beechwood Dr
Atco, NJ 08004
View Map
Features
Bedrooms: 4
Bathrooms: 2.5
Year Built: 1979
Subdivision: Maple Glen
Lot Size: 20088
Garage Size: 1
School District: Wateford Twp
Square Footage: 2215
Agent Name: Terry Iwaniw
Broker: R & I Realty, LLC
MLS #: 5630276
HUD will allow escrow for repairs: Yes
Will qualify for FHA loan w/o repairs: No
Deposit required with offer: $1500
Attributes
Appliances
Range/Oven
Full Refrigerator
Washer/Dryer
Dishwasher
Exterior Amenities
Patio
Swimming Pool
Grass Lawn
Tags: atco homes for sale, homes for sale, homes for sale in atco, homes for sale in camden county, homes for sale in waterford twp, hud owned homes for sale, single family home for sale
Posted by
admin on Dec 13, 2009 in
Listing,
Marketplace,
Real Estate,
for sale
4 Bedroom 2.5 Bath 2 Story Home For Sale in Atco (UI5622828)
Location: Ivystone
A large 3 Bedroom 2.5 Bath HUD owned twin/duplex home has a fireplace, sliding glass doors leading out to the patio, a fenced yard on a corner lot. This home has a kitchen with a breakfast area, 1 car garage, spacious living room with a fireplace, master bedroom with its own bath, and dining room.
Information
Contact Information
Terry Iwaniw
Direct: 609-417-10
Office: 856-795-3111 x263
Pricing
Price: $165,000.00
Additional Pricing Information: ALL PROPERTIES ARE SOLD IN ‘AS IS’ CONDITION.SELLER MAKES NO REPRESENTATIONS OR WARRANTIES CONCERNING THE CONDITION OF THE PROPERTY AND DOES NOT GUARANTEE THAT THE PROPERTY IS FREE OF HIDDEN OR VISIBLE DEFECTS. BUYER IS RESPONSIBLE TO TAKE ACTION TO SATISFY HIMSELF THAT THE PROPERTY IS IN A CONDITION ACCEPTABLE TO HIM. SELLER WILL MAKE NO REPAIRS. BUYER IS ENCOURAGED TO HAVE A HOME INSPECTION TO IDENTIFY ANY DEFECTS.
Features
Bedrooms: 4
Bathrooms: 2.5
Year Built: 1964
Subdivision: Ivystone
Lot Size: 20400
Garage Size: 1 car
School District: Waterford Twp
Square Footage: 1720
Agent Name: Terry Iwaniw
Broker: R & I Realty, LLC
MLS #: 5622828
HUD will allow escrow for repairs: No
Will qualify for FHA loan w/o repairs: No
Deposit required with offer: 1500
Tags: homes for sale, homes for sale in atco, homes for sale in camden county, homes for sale in waterford twp, single family home for sale
Posted by
admin on Dec 13, 2009 in
Listing,
Marketplace,
Real Estate,
for sale
3 Bedroom 2.5 Bath Bi-Level Home For Sale (IE5616622)
Location: Woodshire Mews
Experience the value of ownership at this HUD owned bi-level home on 0.20 acres. Features include 3 bedrooms, 2 bathrooms, casual living room with carpeting, relaxing family room, tasteful dining room, finished, walk-out basement, laundry with w/d included, open kitchen with dishwasher, garbage disposal, laminate countertops, gas range, microwave, some appliances, home office on lower level, deck, off-street parking, fenced back yard for the pets, sliding glass doors. All properties are sold in ‘As Is’. Please call Terry for more information.
Information
Contact Information
Terry Iwaniw
Direct: 609-417-10
Office: 856-795-3111 x263
Pricing
Price: $135,000.00
Additional Pricing Information: ALL PROPERTIES ARE SOLD IN ‘AS IS’ CONDITION.SELLER MAKES NO REPRESENTATIONS OR WARRANTIES CONCERNING THE CONDITION OF THE PROPERTY AND DOES NOT GUARANTEE THAT THE PROPERTY IS FREE OF HIDDEN OR VISIBLE DEFECTS. BUYER IS RESPONSIBLE TO TAKE ACTION TO SATISFY HIMSELF THAT THE PROPERTY IS IN A CONDITION ACCEPTABLE TO HIM. SELLER WILL MAKE NO REPAIRS. BUYER IS ENCOURAGED TO HAVE A HOME INSPECTION TO IDENTIFY ANY DEFECTS.
Property Location
2809 New Brooklyn Erial Rd
Sicklerville, NJ 08081
View Map
Features
Bedrooms: 3
Bathrooms: 1
Parking Spaces: Driveway
Year Built: 1992
Subdivision: Woodshire Mews
Lot Size: 8625
School District: Black Horse Pike Regional
Square Footage: 1108
Agent Name: Terry Iwaniw
Broker: R & I Realty, LLC
MLS #: 5616622
HUD will allow escrow for repairs: Yes
Will qualify for FHA loan w/o repairs: No
Deposit required with offer: 1500
Attributes
Appliances
Range/Oven
Full Refrigerator
Washer/Dryer
Dishwasher
Microwave
Tags: homes for sale, homes for sale in camden county, homes for sale in erial, homes for sale in gloucester twp, single family home for sale
Posted by
admin on Oct 11, 2009 in
Marketplace,
Real Estate,
Selling,
for sale
3 Bedroom 3 Story Townhouse For Sale in Wilton’s Corner (IN5606851)
Location: Wiltons Corner
This HUD owned 3 bedroom, 2 1/2 bath 3 story townhouse is ready to move in. It is located in Wilton’s Corner and it has a large livingroom, with a dining area and large eat-in kitchen, there is a deck off of the lower lever family room in the full finished basement that has a gas fireplace with marble hearth, and a mater bedroom with its own master bath.
Information
Contact Information
Terry Iwaniw
Direct: 609-417-1086
Office: 856-795-3111 x263
Pricing
Price: $175,000
Additional Pricing Information: ALL PROPERTIES ARE SOLD IN ‘AS IS’ CONDITION.SELLER MAKES NO REPRESENTATIONS OR WARRANTIES CONCERNING THE CONDITION OF THE PROPERTY AND DOES NOT GUARANTEE THAT THE PROPERTY IS FREE OF HIDDEN OR VISIBLE DEFECTS. BUYER IS RESPONSIBLE TO TAKE ACTION TO SATISFY HIMSELF THAT THE PROPERTY IS IN A CONDITION ACCEPTABLE TO HIM. SELLER WILL MAKE NO REPAIRS. BUYER IS ENCOURAGED TO HAVE A HOME INSPECTION TO IDENTIFY ANY DEFECTS.
Property Location
57 Wagon Wheel Sicklerville, NJ 08081View Map
Features
Bedrooms: 3
Bathrooms: 2.5
School District: Winslow Twp
Square Footage: 1160
Agent Name: Terry Iwaniw
Broker: R & I Realty, LLC
MLS #: 5606851
Will qualify for FHA loan w/o repairs: Yes
HUD will allow escrow for repairs: No
Deposit mount required at time of offer: 1500
Attributes
Appliances
Range/Oven
Full Refrigerator
Washer/Dryer
Dishwasher
Sink Disposal
Microwave
Tags: camden county homes for sale, homes for sale, homes for sale in camden county, homes for sale in sicklerville, homes for sale in Wiltons Corner, real estate for sale, south jersey real estate, townhouse for sale, townhouse for sale in sicklerville, townhouse for sale in wiltons corner, townhouses for sdale in camden county
Posted by
admin on Sep 12, 2009 in
Housing,
Marketplace,
Real Estate,
for sale
3 Bedroom 2.5 Bath Twin/Duplex Home For Sale in Lindenwold
Location: Crossing
A large 3 Bedroom 2.5 Bath HUD owned twin/duplex home has a fireplace, sliding glass doors leading out to the patio, a fenced yard on a corner lot. This home has a kitchen with a breakfast area, 1 car garage, spacious living room with a fireplace, master bedroom with its own bath, and dining room.
Information
Contact Information
Terry Iwaniw
609-417-1086
Connect on Facebook – http://profile.to/terryiwaniw
Pricing
Price: $147,000
Additional Pricing Information: ALL PROPERTIES ARE SOLD IN ‘AS IS’ CONDITION.SELLER MAKES NO REPRESENTATIONS OR WARRANTIES CONCERNING THE CONDITION OF THE PROPERTY AND DOES NOT GUARANTEE THAT THE PROPERTY IS FREE OF HIDDEN OR VISIBLE DEFECTS. BUYER IS RESPONSIBLE TO TAKE ACTION TO SATISFY HIMSELF THAT THE PROPERTY IS IN A CONDITION ACCEPTABLE TO HIM. SELLER WILL MAKE NO REPAIRS. BUYER IS ENCOURAGED TO HAVE A HOME INSPECTION TO IDENTIFY ANY DEFECTS.
Property Location
167 Crossing WayLindenwold, NJ 08021View Map
Features
Bedrooms: 3
Bathrooms: 2.5
Year Built: 1989
Subdivision: Crossings
Lot Size: 8300
Garage Size: 1 car
School District: Lindenwold
Square Footage: 1500
Agent Name: Terry Iwaniw
Broker: R & I Realty, LLC
MLS #: 5588957
HUD will allow escrow for repairs: No
Will qualify for FHA loan w/o repairs: No
Deposit required with offer: 1500
Attributes
Exterior Amenities
Patio
Fenced Yard
Grass Lawn
Tags: homes for sale, homes for sale in camden county, hud homes for sale, HUD owned homes, real estate for sale
Posted by
admin on Sep 8, 2009 in
Marketplace,
Real Estate,
for sale
3 Bedroom 2.5 Bath Bi-Level Home For Sale
Location: Atco, NJ
3 bedrooms 2.5 bath HUD owned home located in a wooded setting. This home has a large eat-in kitchen with an open floor plan, there is a brick fireplace in the family room , along with cathedral ceilings. The master bedroom has double door entrance and a full bath plus walk-in closet. There is a 1 car garage attached to the home, central A/C, and a basement. This home backs onto Green Acres and Ladies Lake.
Information
Contact Information
Terry Iwaniw
609-417-1086
Connect on Facebook – http://profile.to/terryiwaniw
Pricing
Price: $205,000.00
Additional Pricing Information: ALL PROPERTIES ARE SOLD IN ‘AS IS’ CONDITION.SELLER MAKES NO REPRESENTATIONS OR WARRANTIES CONCERNING THE CONDITION OF THE PROPERTY AND DOES NOT GUARANTEE THAT THE PROPERTY IS FREE OF HIDDEN OR VISIBLE DEFECTS. BUYER IS RESPONSIBLE TO TAKE ACTION TO SATISFY HIMSELF THAT THE PROPERTY IS IN A CONDITION ACCEPTABLE TO HIM. SELLER WILL MAKE NO REPAIRS. BUYER IS ENCOURAGED TO HAVE A HOME INSPECTION TO IDENTIFY ANY DEFECTS.
Features
Bedrooms: 3
Bathrooms: 2.5
Year Built: 1978
Subdivision: Olde Towne
Lot Size: 15030
Garage Size: 1 car
Square Footage: 1480
Agent Name: Terry Iwaniw
Broker: R & I Realty, LLC
MLS #: 5585553
HUD will allow escrow for repairs: No
Will qualify for FHA loan w/o repairs: Yes
Deposit required with offer: 1500
Tags: camden county homes for sale, homes for sale, homes for sale in atco, homes for sale in camden county, HUD owned homes, hud owned homes for sale
Are you looking for a bargain home? Then you may want to seriously consider purchasing a HUD owned home. Right up front, I have to state that some of these homes are not in the best condition. Some are in worse condition then others. But you may be able to find a hidden gem. Check out the current list of HUD owned homes we are marketing.
To better understand this you’d have to understand the process by which the Department of Housing and Urban Development (HUD) acquires these properties.
First of all, HUD does NOT foreclose on any home. HUD does not lend mortgage money but it does insure many mortgage loans. So, HUD owned homes are not foreclosed homes, in the strictest sense. HUD owned homes are properties that they acquire by paying off on a claim submitted by the mortgage lender after the MORTGAGE LENDER has foreclosed on the property.
At some point in time, this mortgage lender decides to file a claim against the FHA insured mortgage. They submit their claim to HUD and when HUD pays off on the claim, they acquire the property. The mortgage lender can’t get the benefit payment AND keep the asset. So, in return for receiving the payment they relinquish the property that they foreclosed on. Not all mortgage lenders will file an FHA claim. Many will try to sell the property if they weren’t able to sell the property at a sheriff’s sale/auction. That is the reason that some HUD acquired homes get into the condition that they are in. Mortgage lenders, while trying to sell these properties, do not do such a great job in keeping them maintained. They are usually vacant and anything of value has been removed. It is a rarity to walk into a HUD acquired property and find a refrigerator and/or dishwasher in the house. More times then not the mortgage lender turns over the property to HUD as it is.
So now, HUD has acquired the property. What happens next? Well, HUD sends its appaissor to the property to inspect and value the property. The valuation is done in it’s present condition. It is done this way because HUD will NOT do any repairs to the property except what is minimally needed to preserve the house from further damage. If there is a broken window, they will board it up. If the carpeting was removed, they will NOT replace it. If there is an oil tank in the ground, they will NOT remediate. There are certain cases where HUD will allow the purchaser to set aside (escrow) a certain amount of money to have minor repair issues to be done so that the home could qualify for an FHA loan. The appraissor also notes any and all damage that they can see and assign a dollar value to the repair. This isn’t done so that HUD knows how they’ll have to pay for repairs because HUD does NOT do repairs. What this total repair values denotes is if the property would be able to qualify for an FHA loan or not. HUD designates homes at 3 levels -
- Insured: There are no FHA required repairs needed to be done in order to qualify for an FHA-backed loan.
- Insured w/Escrow: The FHA required repairs total less the $5000 and HUD will allow the purchaser to borrow the extra money and put into escrow in order to insure that these repairs get done.
- Uninsured: The repair total is greater then $5000 and the home would not qualify for a standard FHA-backed loan. However, the purchaser would be able to apply for a 203K (Construction loan) or a Streamline K (similar to a 203K but with a $35000 limit) loans. These have different requirements and the purchaser needs to discuss these type of loans with their mortgage loan representative.
So, now you have a better idea of what you have to work with. The next series of steps involve submitting an offer (which is different then submitting an offer to a private owner) and after that you’ll need to know the steps you’ll have to follow after HUD accepts your offer.
If you are interested in purchasing any of these HUD owned homes, please don’t hesitate to give me a call.
Terry Iwaniw
REALTOR Associate
R & I Realty, LLC
Off: 856-795-3111 x263
Cell: 609-417-1086
http://www.snewjerseyhomes.com/
http://snjrealestate.ning.com
Connect On Facebook – http://profile.to/terryiwaniw
Tags: homes for sale in camden county, homes for sale in gloucester county, hud homes for sale, HUD owned homes
Posted by
admin on Mar 3, 2009 in
Buying If you are thinking of buying a home, you might be confused about the many issues in the news from mortgage rates to mortgage bills in Congress. But the fundamentals of buying a home really haven’t changed and, in fact, there are new incentives on the horizon that should make home buying more attractive than ever.
There are plenty of homes on the market in every price range and if you want one of them, you need only do what generations of people have done. You just have to pay attention to these basics:
- First, cultivate good credit by prudent living. Pay your bills and pay them on time. Use credit sparingly.
If you do this, you’ll earn a good credit score, which is crucial to getting a good interest rate. Research shows that many consumers believe that they have to have a high income to have a high credit score, but that’s not true. In fact, income is irrelevant to your credit score. Your credit score is a rating based on how well you live up to your obligations, pay your bills and use your credit.
- Second, save money for a down payment. In the current climate, most lenders will ask you to bring some cash to the table in a mortgage deal.
- Third, find a house you love but can also afford. One path to financial freedom is to buy a modest house and build equity. When you decide to move up, you can sell your house and take a large chunk of the money from the sale and apply it to your new home. Your payment is lower while you live better. It’s the good, always-in-fashion way to live.
Congress is also planning some incentives for new home buyers. It appears first-time home buyers will get a tax credit of 10 percent of the purchase price of a home up to $8,000. That means in the year you purchase a new home, your tax bill could be reduced up to $8,000. Homeowners will not qualify for the credit if they sell the home in the first year and must live in the house for at least three years, or they will be obligated to pay back the credit.
To be classified as a first-time homeowner, you must not have owned a home in three years
Tags: first time home buyers, home buyers, home buying, homes for sale in camden county, homes for sale in gloucester county
Stumble It!