Home Buying in Portland>Question Details

aaron, Home Buyer in Portland, OR

Why are there so few HUD homes qualifying for the GNND program when the HUD GIS system clearly indicates a number of revitilization areas in Portland?

Asked by aaron, Portland, OR Tue Sep 3, 2013

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The HUD homes last year went to many investors but now they sell before the investors are allowed to bid and expect fewer to be coming on in the future. Good luck, Tom Inglesby, RE/MAX
0 votes Thank Flag Link Tue Sep 3, 2013
Inventory is so low right now when it comes to Portland HUD listings. Only a percentage are allocated for GNND, with most in North Portland. I have three GNND properties as listings at the moment. Don't forget, HUD paid the mortgage holder full price for the home when it was foreclosed and they are giving up half of the value of an already underpriced property - I doubt they want to have more GNND homes than needed.
0 votes Thank Flag Link Tue Sep 3, 2013
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