Report of HUD Homes in San Antonio, TX
The number of HUD homes available in the San Antonio, TX area does vary from month to month. In the month of August, 2012, there are presently 92 HUD homes Active in our San Antonio, TX market. These HUD homes vary in prices from $25,000 to $257,000. The square footage ranges from 799 up to 3392.
The average Active listed price for HUD homes is $98,111, and the price per square foot is $54.44. Average days on market for these active HUD Homes is 38 days. Only 46 HUD homes closed or Sold within the last 30 days, and there are presently 78 showing a “Pended Status”.
The average pended price was $83,417, with the price per square foot at $48.87 and days on market were 37 days. The average sold price was $82,057, with the price per square foot at $47.48, and days on market for sold units were 45 days. The ratio of original listed price to final sold price was 92.1%.
HUD Homes in the San Antonio, TX market are selling quickly, and buyers are getting some great bargains at 92% of the listed price, which has already been drastically reduced below the current market values.
Bidding on these HUD Homes normally last for a 10 day window, which starts on a Friday, and runs until midnight of that 10th day which ends on a Sunday. HUD normally requires $500 earnest money on homes less than $50,000, and $1,000 earnest money for homes over $50,000. Buyers will be granted an inspection period once they are awarded the bid, but will have to make a formal request from HUD regional office to get those utilities turned back on for their inspections. The cost for a third party inspection will vary from $250 to $400 depending on the size of the home, and if there are extras like septic systems or wells.
If you are looking for a bargain, and need to make a bid on a HUD Home in San Antonio, TX, Contact a Local San Antonio Real Estate Agent, who is very familiar with the whole HUD process from bidding to closing. You may also look for the latest HUD listings on the website at the HUD Home Store.
HUD also has special programs for like the Good Neighbor Next Door, Nonprofits, and the $1 HUD Home Sales. Plus there is even the $100 HUD down payment program offered in certain states like Texas. Look for detailed future posts on each of these HUD programs.