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deepmind.google·6d ago
AI Engineering
Hacker News·28d ago·5 min read
Mapping homes you can buy from the US government for <$100k
TL;DR
You can purchase homes from the U.S. government for as little as $3,000, with over 2,000 properties currently listed. These homes primarily come from foreclosures on federally-backed mortgages and are concentrated in the Rust Belt and rural South.
✦ Why It Matters
Engineers can develop applications to aggregate and visualize government real estate listings, aiding potential buyers in their search.
Key Takeaways
- Explore government listings for affordable housing options.
- Utilize mapping tools to visualize property locations.
- Consider investing in low-cost homes for rental income.
- Research state-specific housing markets for better deals.
Full Summary
When federally-backed mortgages default, the U.S. government acquires thousands of homes, which it then resells, often at remarkably low prices. Currently, there are 2,074 homes listed, with 334 priced under $100,000, including 77 under $50,000 and 15 under $25,000.
These properties are predominantly located in states like Illinois, Texas, and Pennsylvania, where foreclosures have driven prices down significantly. The median list price for all government-owned homes is $210,000, indicating that while many homes are affordable, the overall market still skews higher.
The availability of such low-cost homes presents unique opportunities for investors and first-time buyers. A mapping tool allows users to visualize these listings by state, making it easier to explore options.