Buying HUD Homes
HUD (Housing and Urban Development) is the federal agency that takes responsibility for FHA backed loans that go wrong… A HUD home is a 1-4 unit residential property acquired by HUD when a loan backed by FHA, goes into foreclosure.
Here are some specifics about the process of buying a HUD home:
- HUD becomes the property owner and offers the home for sale to recover the loss on the foreclosure claim.
- HUD homes are appraised and then priced at fair market value for their area. The homes are sold “as is”, but the price has generally been adjusted down to reflect repairs that the homeowner will have to make.
- HUD homes are sold using a bidding process. There is an offer period, during which, sealed bids are accepted from your agent. Once the offer period closes, all bids are opened, and HUD will generally accept the highest bid, or the bid that brings them the highest net.
- If your bid is accepted, your agent will be notified within a couple of days. You will be given a settlement date – usually 30-60 days from the date of the accepted contract.
- If no one makes an offer for a HUD home within a certain amount of time, HUD will lower the price. The price will continue to drop until an offer is made and accepted.
So, what is the best way to safely purchase a HUD home?
- Find the right real estate agent. Only agents who are registered with HUD may represent home buyers and investors in the purchase of a HUD home. The best way to track down the right agent is to go through the website that lists HUD homes in your area, and determine which agent has the most winning bids.
- Be sure to inspect the property before making an offer. The listing agent has access to the property and can show it to you.
- Make an offer based on the process above
- Get your financing in order so you can close in a timely fashion. It could be as soon as 30 days from acceptance date. It would really be in your best interest to secure financing before you make an offer.
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Enjoy a Break from Holiday Busyness – Bucks County Events December 15-16, 2012
The holiday preparations are sure to be in full swing at your home! If shopping, baking and cleaning are filling up your Saturday, be sure to relax and enjoy a few fun events for Bucks County residents. These New Hope, Yardley and Newtown events are just a few of the great opportunities this weekend.
Fridays, Saturdays & Sundays in December, 5:15pm
New Hope & Ivyland Railroad
It’s time for kids and kids at heart to enjoy the timeless ride on the North Pole Express. Board the vintage coach cars to spend time with Santa and enjoy carolers, hot chocolate and cookies. This is a great memory maker for families of all ages.
Hurricane Sandy Bazaar, Auction & Sale
Sunday December 16, 2012 11am – 5pm
New Hope Borough Community Center
Support the victims of Hurricane Sandy this weekend. Trash and Treasure, auction, bake sales, entertainment and free kid fun. Contact Victoria Zelin for more information.
Saturday Dec 15, 2012 8pm & Sunday Dec 16, 2012 4pm
Our Lady of Guadalupe Church5175 Cold Spring Creamery Rd, Doylestown
Enjoy spectacular holiday music from many genres, past and present, sing alongs and traditional carols. 100 powerful voices will come together to provide a great show. Brass ensemble preludes begin ½ hour before the show.
Saturday Dec 15, 2012 8pm & Sunday Dec 16, 2012 3pm
The Newtown Theater, 120 North State Street
Support local children’s theatre and enjoy the musical adaptation of Charles Dickens’ classic tale of an orphan boy who runs away and joins a clan of street pickpockets. Fun for the entire family.Continue Reading > Add a Comment
High-Class Dining in Yardley, PA
Yardley, PA has so much to offer both residents and visitors. This weekend is a great time to explore the delectable side of Yardley, and visit one or more of its fine dining establishments. Here are just a few of Yardley’s top-notch restaurants:
27 East Afton Avenue
Yardley PA 19067
Right on the Delaware Canal, enjoy authentic Greek cuisine in an indoor or outdoor setting at the Canal Street Grille. This family owned restaurant features regular Greek appetizers like spanakopita and tzatziki, along with sandwiches, pastas, seafood, meat moussaka and other specialty entrees. Top off your meal with baklava or another tasty dessert. Serving lunch and dinner.
1633 Big Oak Road
Yardley, PA 19067
Excellent Italian restaurant. Features fresh made pasta, daily specials, wonderful chicken, fish and other Italian specials. One of our favorite local restaurants. (No liquor license, feel free to bring your own) Casual family atmosphere. They offer a special three-course meal (Monday – Wednesday), and a gluten-free menu as well. Serving lunch and dinner.
385 Oxford Valley Road
Yardley PA 19067
Enjoy gourmet Italian cuisine with a continental flair at Christine’s Restaurant. This 5-star restaurant features steak, crab cakes and grilled fish, and is currently offering a Seasonal Three-Course special for $25.00, that includes a drink and one of their delicious desserts. Christine’s is also open for breakfast 7 days a week. Serving breakfast, lunch and dinner.
East Afton & Delaware Aves.
Yardley PA 19067
Enjoy riverside dining at this well-established restaurant serving contemporary American cuisine, including tasty cheeses, hand-cut pasta, gourmet salads and seafood. Take advantage of their Dine Early menu special, which includes a three-course meal for $19.95 from 4:30 – 6:00pm, and all night on Tuesdays. Serving lunch and dinner.
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Yardley and Bucks County, PA – Our History
Most people who live in Bucks County, PA know and appreciate the rich history of the area. Named by William Penn after his hometown in England, Bucks County became known for its importance during the Revolutionary War.
For those who are new to the area, or are thinking of moving to Yardley, Newtown or any of our wonderful Bucks County towns, there are many opportunities to immerse yourself in our local history.
Here are just a few:
The Old Library in Yardley
Opened in 1878 on land donated by William Yardley’s heirs, the Yardleyville Library is situated on Lake Afton in the town of Yardley. It was used as a library for the community until 1977, and can now be rented out for events. Visit the website of the Yardley Historical Association for more information on the library and other fun Yardley history-related happenings.
The village of Fallsington grew up around the first Falls Friends Meetinghouse built in 1692 it became significant as a social, market and religious center. This 300 year old village is now a Nationally Registered Historic District, and preserved by Historic Fallsington, Inc. Step back in time and enjoy the restored homes and visit the museum. Visit the Historic Fallsington website for more information on hours and pricing.
Washington Crossing Historic Park
The site where, on Christmas Night, 1776, George Washington and the Continental Army crossed the icy Delaware River. The park also features the 19th-century village of Taylorsville, Thompson Neely House and gristmill, Bowmans Hill Tower, and picnic areas. Visit the park’s website for more information.
Pearl S. Buck House & Historic Site
Pearl Buck spent most of her life in China, and is famous for her book on Chinese peasant life, The Good Earth. Pearl lived in Perkasie, PA with her second husband from approximately 1935 – 1960. Enjoy a guided tour of the Nobel and Pulitzer Prize-winning author’s circa 1825 farmhouse and intact collection on a picturesque 68-acre estate. A National Historic Landmark with gift shop, cultural center, beautiful gardens and seasonal special exhibits featured. Find out more info at the Pearl S. Buck International website.
Contact me for more information on living in this wonderful area of Bucks County, PA.Continue Reading > Add a Comment
Where’s Yardley? Navigating the Latest Facebook Changes
There are places all over the Web where you can find information about what the new changes mean.
However, what if you are new to the Yardley area, and wanted to know 10 great Yardley area Facebook pages to follow?
THAT I can help you with!
Here, not necessarily in order, are 10 great Facebook pages to follow, to know what is going on in and around Yardley and Lower Makefield Township.
Lower Makefield is a great place to live! – This is a great Facebook page that is devoted to what is relevant to Lower Makefield Township life. You will find out all sorts of information about LMT.
You Know You’re From Yardley If… – Since I have lived in the Yardley area for more than 30 years, this is a very fun Facebook page for me. If you happen to be new to the area, you will enjoy getting a flavor for the things that we remember, over the years we have been here. This is also a fun and interesting place to learn about the Yardley/Lower Makefield Township area.
Yardley Inn Restaurant and Bar – I didn’t want to necessarily make this list about specific businesses in and around Yardley. There are so many wonderful places to enjoy. However, there are a few that I would consider icons in Yardley. Certainly one of these is the Yardley Inn, which is perched on the edge of the Delaware River. Visit this page and you will get a very distinct flavor of what is happening at the Inn. Also happens to be one of our favorite places.Continue Reading > Add a Comment