Apr 06

Fulton, New York 3 Bedroom HUD Home $31,000

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SOLD $37,500Fulton,  a city of 12,000 has had a constant flow of HUD homes over the years.  Not a tremendous amount, but due to the concentration of homes in a given area as a city you’ll see more, about average or a bit above average.  I lived in Fulton for 11 years and found it to be quiet and plesant place where I could sleep with unlocked doors.

Today we have a 3 BR 1.5bath 1217 sq.ft. home in the city limits.  The roof looks less than 5 years old. The aluminum siding could use a paint job. There’s a 50+ year old furnace that looks like so retro, if you could put wheels on it you’d be the envy at Sweet Inspirations on a Saturday night.

Some paneling needs to be replaced with sheet rock, the hot water tank (gas) is missing. Countertops and kitchen cabinets need replacing and the floor covering throughout  I would replace.  I’m making this sound like a no-so-good home and really on the contrary, I’m just being critical, actually it is a very liveable home as-is (after you get a hot water tank). There may be some hardwood flooring lurking under the carpets that need further investigation.  The tax assessment is $53,000, it sold in 2002 for $66,850. HUD’s list price for owner occupants only is $31,000.  Bidding ends this coming Sunday the 12th of April.  Investors can bid on the 13th. The address is 453 5th St. South, Fulton, NY   DIRECTIONS

Apr 02

Syracuse 4 Family HUD Home $25,000

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SOLD:There are about 200-300 HUD homes sold every year in Syracuse and the surrounding area. The trend has not increased nor decreased for the last 20 years.  Most HUD homes are single family.  Once in a great while you will find a 2, 3 and very rarely a 4family.    

306 Bear St. in Syracuse is a 4 family HUD home.  There are 6 total bedrooms, so its a 2-2-1-1. One heating unit, 4 gas and 4 electric meters.  Built in 1940 with 2900 sq.ft. on a 53’x99′ lot. The assessed value is $75,000 and was sold in 1998 for $90,000 according to the tax records.

HUD rules for bidding state that  only owner occupants can bid and that ends April 4 and investors may bid after that. List price is $25,000


Feb 25

168 W. 5th St. Fulton, NY HUD Home $42,000

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SOLD-Did I like it?  Yes it was a nice home indeed.  Fulton still supports many reasonably priced homes in the central NY area. Purchased in 2005 for $55,000 this home has 3 bedrooms 1 full bath.  With 1,138 square footage of living area on a 55’x132′ yard.  Most of what I could observe inside indicated the house needs new carpet and paint. The roof had some snow on it but appeared smooth and flat indicating it was than 10 years old.   Assessed value is $55,700.  HUD’s asking price is $42,000 and investors are allowed to bid.  First come first served. HUD’s sell fast and you need someone with experience.  I’ve put over 240 buyers into HUD homes. Call John Adolfi 315-952-2671 cell


Living room 

Jan 30

North Syracuse Cape Cod HUD Home $57,000

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102 Catherine St.

102 Catherine St.

SOLD-This snow which attempts to barricade any humble house seeker could not stop me this morning from viewing this North Syracuse HUD home.  I also discovered something HUD is not telling us. HUD listed this property this morning with a 10 day bid period as a TWO Bedroom., ONE Bath residence, however after further investigation with my trusty black lab, Moo-Moo, we observed first hand they are WRONG!  There are TWO bedrooms upstairs and ONE on the main level.  A full bath on the main floor and 1/2 bath in the basement.

Upon further examination I was able to see the roof edge and I liked what I could see.  The yard is fully fenced with a shed a three season enclosed back porch and I even discovered a central air unit.  The inside has hardwood flooring, the furnace looked good and was functioning. You could very well clear her up, put a paint and carpet dress on her and live comfortably for around $5000 fix up.   Bid closes on Feb. 8th so don’t delay, drive by and call me for a showing.  Pre-qualified buyers only and YES this house is fully finance able with FHA with NO fix up necessary to make the bank happy, so states HUD. This property sold on 12/3/04 for $89,000 and is currently assessed for $80,275.  The yard is 60’x116′ and there is a total of 1080 square feet, excluding the partially fixed up basement. Here are the directions, 102 Catherine St. off Chestnut St.in the village of North Syracuse. Drive by and call me  asap. John Adolfi 315-952-2671.

Jan 13

Mattydale HUD Home 108 Northwood Dr.

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NEW Photos added. REDUCED on 1/30/09 to $64,800 STOP the PRESS!!! Today 2-6-09 I just examined this property and it is a great starter home! It’s a winner, I mean it, two thumbs up! What I’m impressed with is its size and condition.

 Three bedrooms and one full bath with an additional full bath in the basement. Inside this 1451 sq.ft. two story structure is a beautiful kitchen with a laminate floor, gas stove and dishwasher.  The formal dining room has hardwood flooring and charm leading into the large living room. There is a two car garage to boot. The furnace looks good and the roof is under 10 years old.  The tax assessor has it valued for   $87,500 and it sold in 2005 for $84,900. HUD’s asking price is currently $64,800.  Call me, 315-952-2671, I can preform magic with this one but do it quick before someone else discovers it. This is open to all bidders including investors and it is first come first served.  HUD will pay for up to 3% of your closing costs or approx. $1900. Total to close on this would be in the neighborhood of $5900.





Dining Room

Dining Room



Living Room

Living Room



Dec 12

Parish, NY HUD Ranch…intriguing.

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334 French St., Parish, NY

334 French St., Parish, NY

SOLD-Intriguing is one word that describes this HUD foreclosure.  Located at 334 French St. just north of Route 45 in Parish, N.Y., County of Oswego.   It’s a 3 bedroom 2.5 bath 1904 sq.ft. ranch. The interior will need: cleaning, paint and the carpets steamed cleaned. There is a fireplace in the living room.  The kitchen cabinet are a medium grade oak with a black kitchen stove, no fridge. HUGE open unfinished basement, master walk in closet, round garden tub and shower. Big back deck over looking a 7 acres yard.

During my research I discovered that in 2004 it sold new for $128,000.  The current tax assessed value is $159,000 and Zillow.com has it appraised currently for $175,000. Realistically if the home was worth $115,000 you’d be doing great even if you paid the asking price of $98,000.  Bidding is now open to owner occupants only (sorry investors got to wait till the 22nd.) which closes 12/21/08.  For your showing contact us at 315-695-6434 or Patti Bush at 315-420-3411.  


P.S. HUD can pay 3% of the bid price or approx. $3000 of your closing costs. This is sweet!

Nov 27

Mattydale 4 Bedroom Hud Home Takes the Stage

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SOLD-NEW PRICE $49,500 and OPEN for Investors. Thanksgiving had not ended as my visitation of relatives lead me past this HUD home in Mattydale.I just had to take a peek and here is what I found.  Located at 142 Brookfield Rd. this 4 bedroom 3 baths 1544 sq.ft. Cape-cod. The remodeling necessary  to make this your next cozy home includes interior and exterior paint and floor covering. Extensive kitchen and bath remodeling could be differed till later. The roof looks to be 5-10 years old. Out the back window I discovered a fenced in backyard and an in-ground pool.  The forced air gas furnace was not the old coal converted octopus type but perhaps 15+ years old. There are two hot water tanks. There is a two car garage and the lay out is a bit unconventional due an addition of two bedrooms each containing its own bathroom that was added at some point of this homes history.  The price is $55,000.  HUD will help pay some closing costs about $1600.  Which means the total amount to close as a owner occupant is about $5000. Total taxes are $3100. For your showing contact Adolfi RE at 315-695-6434.  Hurry, HUD homes go fast.

Nov 21

Palermo HUD Mobile Home on 15 acres creates investor interest

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207 Clifford Rd. Exterior

207 Clifford Rd. Exterior

SOLD-Most mobile homes are ignored by investors.  However I ran into one local investor who creates opportunity using distressed mobiles unique characteristics to his advantage that turn most investors off.  The genius behind owning single-wide mobiles is the cost to profit margin. It costs less than a house generally to purchase, the taxes are usually lower due to a lower assessed tax value, therefore he said to me,  “I can buy mobiles all day long, fix them up for a couple thousand and rent with option to buy. If they wreck it, I keep there option to buy deposit and fix it up and do it all over again.”

The HUD home featured today is a 3BR 2Bath 1995 16’x70′ mobile with a 3 car garage and what looks like a smoking shed for meats. The interior is in fair condition. Needs wall board repair, new flooring.               

It sold for $43,600 in 2005 and is assessed by the county tax dept. for $45,000.  HUD’s asking price is $30,000.  Wait if that was not enough, let me tell you what I discovered while researching this property.  It has 14.98 acres.  The road frontage is 412 feet.  Which means that you might, and I say might, because I do not know where the mobile is positioned in relationship to the property lines. But if it is to the left or right of a imaginary center line splitting the land in to two the other lot could be developed or sold off for a profit of $8-12k.  


The address is 207 Clifford Rd., Fulton, NY and is currently open for Investors to bid as well as owner occupants. For more info or a showing call 315-952-2671.

207 Clifford Rd. Garage

207 Clifford Rd. Garage




Living room

Living room



Nov 05

HUD Homes Picks for this week.

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The stock market is currently down 200 points after the election of a new president. Hmm, what to do.

Well I think the stock market is a great place to buy-NOW-however a more practical and stable approach is the rental market in real estate.  Owning rentals is probably the best income generating investment today and even when the market changes tomorrow.  Here are my top picks in the HUD market.

SOLD-31 Powers Drive in Lacona, NY.  Just outside of sandy Creek is this 2483 sqft colonial home with 4 BR and 2 full baths on a half acre parcel.  HUD had it priced at $36,000 but is now $32,400 and open to investors.





SOLDMy favorite pick is 2262 Lamson Rd. Phoenix in the town of Lysander.  Sold in 2006 for $69,900.  The home has 3 bedrooms 1 bath. The lot size is approx. 1.5 acres.  Well and septic. HUD’s original asking price was $59,000 which went to $52,000 and sold then popped back on the market for $45,500 and awaits an investor or home owner occupant.  There is one foot of water in the basement, the hot water heater and furnace will need replacing. Call if you dare for your showing today. 

Oct 31

City of Oswego HUD Home Back on Market

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                                                             SOLD-4 Varick St. is on the west end of Oswego.  It sports 2 bedrooms but you could manage 3rd since there is a small room w/o a closet right off the living room.  There is a large eat in kitchen and a formal dining-room.  The one bath off the dining room needs new floor covering, tub surround, sink and cabinet about $200 for the flooring but up to $2000 worth of work depending on your taste and goals. The aluminum siding needs a paint job $1500.  There are hardwood flooring and wood paneling. Great on wear and tear but poor for resale. The tax assessment is $43,500.  HUD’s asking price is $30,000.  Only owner occupant bids are being accepted until Nov. 5th then investors can bid.  Good house for college kids rental, rental and an ok flipper depending what price you manage to get it for and your resourcefulness in fixing it up. For your showing give us a call.  But hurry the bid deadline is Nov. 4th.  Office 315-695-6434.