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Great question! A "HUD" listing is a home that has been reclaimed and now government owned; in this the Housing & Urban Development branch (HUD). These homes are generally placed on the market with a type of "bid period", where potential buyers can place their bids (through their Realtor). HUD may choose a winning bid, or may decide that none of the bids were sufficient and then place the home on a more traditional listing cycle.Foreclosure listings (also known as REO) are homes which have been reclaimed by the (usually) mortgage company holding a lien on the home. The mortgage company may have tried to auction the property in a public foreclosure auction, or may have retained it and hired their choice of listing agent to manage the marketing and sale of the home.Short Sale listings are a little different. Though not a new concept, these listings have become readily available during the economic changes we have all experienced over the last few years. For a variety of reasons, the home is now in a situation where the mortgage owed against it, is now higher than the value of the home in the marketplace. So, the Realtor and homeowner work with the existing mortgage company to allow the home to be sold (and title released to the new owner) for an amount that is less than what is owed against it. This shortage is then handled in a variety of ways, between the previous owner and the mortgage company.All of these types can offer some terrific deals, but I can't say that one source is always any better than the other in that regard. A good Realtor will help you find the best deals possible, regardless of the source. It may just be a traditional listing as well!Thank you for your question.
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For Sale: $159,900
For Sale: $124,900
For Sale: $194,900