Have you considered HUD repossed properties? If yes, you need to read this post by Robert Brown.
In the Erie are, please call me: Mary Yonkers, Howard Hanna, 814.835.1200
HUD incentives for Owner Occupants to come to an end as of 02-12-10.
Here is an excerpt from an eFlyer I received. It says in part:
HUD Owner Occupant Incentives Expire 2/12/2010
Issue Date: 1/29/2010
Attention Selling Brokers and Agents: The following HUD Owner Occupant sales incentives will expire as of February 12, 2010:
1. FHA $100 Down Sales Incentive
2. $2,500 Owner Occupant Sales Incentive (For properties with a purchase price of $25,000 or greater)
3. $500 Broker Bonus for Owner Occupant Sales (For properties with a purchase price of $25,000 or greater)
The incentives will be eligible on all owner occupant sales with a bid acceptance date on or before 2/12/2010. All owner occupant bids accepted after 2/12/2010 will not be eligible for the any of the incentives above.
For anyone thinking on purchasing one of these fine properties you have approximately 11 days. See your realtor TODAY. Tomorrow may be too late.
Bellabay Realty
616 366 7030
www.mrbrownsellsgr.com
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Mary Yonkers, Real Estate Instructor, Alan Kells 
Real Estate Careers with the Best of the Best!
Do you know someone who is planning to sell or buy in Erie, PA?
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Need an Economical Plumber in Erie, PA ???
Call T & T Plumbing (Tim White) 814.836.0305 
My son-in-law, Tim White
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Mary have you done some of these? I've heard there is a lot of red tape.
Anna they are very easy and streamlined. I love doing them. Questions feel free to contact me.
Anna--Robert is the expert, but they are not for everyone. I had two agents out of 35 who specialized in them. The secret is knowing how to navigate the red tape.
Robert--Good post. I would have loved having you on my roster when I was managing an office.