Friday, November 8, 2013

HUD Fixer for Sale

HUD is willing to sell this three-bedroom 1.75 bath 1267sf home in the Haller Lake neighborhood of Seattle for $245,000.
I am writing up the contract for myself now, but looking for buyers who may want to scoop this one up.

It last sold in 2007 for $305,000. HUD says it is worth $290K as is; Realist puts it around $277K; Zillow has it at $275K with a $1639 rent estimate. Zillow predicts Haller Lake home values will rise 7.5% next year, compared to a 6.7% rise for Seattle as a whole. 

HUD will also accept conventional financing other than HUD/FHA on this offer, so it is not limited to cash only. It would probably work best as a rental, rather than a flip.
It is missing gas and water meters, needs carbon monoxide detectors, baseboard/drywall replacement, and re-painting of the deck. The refrigerator should be moved to a different location, or the layout of the kitchen modified to better accommodate the fridge. Quite honestly, if I were to buy it, I would paint the grey trim and possibly that garage door a bright cheery yellow.

So if you would like more information, please contact me at or call me at 425-270-7292.

Happy investing!

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