The idea of “foreclosed properties” being dumps and in need of a lot of work, is simply not true all the time. Now, HUD homes….those that are FHA and VA foreclosures are a totally different animal and are not to be confused with regular foreclosures. For more info on those types see our post HUD HOMES, What You Need To Know.
Fannie and Freddie (and no this is Not your Aunt Fannie)foreclosures are being spruced up with new carpet, paint, and repairs as needed to make them more attractive to regular homebuyers rather than investors. As you will hear on the video, they feel owner/occupants make neighborhoods better, they get more money for the home, and it’s just better all the way around.
This is good for buyers because they have a move in ready home that although is not the 60 cent on the dollar of yesteryear (ooooh, that makes it sound old right?), but most buyers of homes in Salt Lake now a days would take fresh and new over maggoty and throw up old (as my granddaughter would say). So watch the video and after you have watched it, if you want to look at some foreclosed properties, we would be happy to show them to you. Here are some to get you started: No cheating, watch the video first…many Bothans died to bring you this information…little Star Wars crazy here.