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Saturday, April 10, 2010

Good Neighbor Next Door Sees a Resurgence

I posted a while ago that I was worried that the GNND program from HUD that gives teachers, firefighters, and police officers the opportunity to buy homes at a 50% discount was drying up. At that time, while the market was flooded with foreclosures, I saw only 3 come to market in 8 months in the Twin Cities market. Recently, however, I have seen a resurgence. There have been nearly a dozen in the last two months. Perhaps HUD was waiting for the market to bottom out before putting more GNND houses out there.

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