Over the last few days I’ve received phone calls from buyers interested in finding a list of DoD HAP homes for sale in the Northern Virginia area. Curious I asked why specifically are you looking for DoD HAP homes? As it turns out “a friend” got a great deal on a home. They paid 60% less than what they previous owner paid for it 7 years ago. Let’s think about this. Depending on where the home is located in our area then 50-60% less than the value in 2005 is right on target for today’s market value.
The only “list” of DoD HAP homes for sale are those offered as part of the BRAC 05 relocation where the government will acquire a property as a buy out for a relocating civilian employee. Those homes can be found at this link on US Army Corp of Engineer Homes For Sale site. As you will see there are very few homes listed on the site.
If you are inquiring about a DoD HAP home offered by an individual seller who is eligible under the PCS program those are not on any separate list. The homes are listed by Realtors® in the MLS and another agent can search for them by using certain keywords to try and find them though we may not find all of them.
These homes are not for sale at 60% off of today’s market value. The rules are very specific. A home can not be sold for less than 10% of CURRENT market value. If a home is worth $350,000 in today’s market it might be listed for sale for $315,000. However in today’s competitive market in Northern Virginia you are more likely to find it listed for and get one or more offers for $350,000.
There are good reasons to buy a DoD HAP home but if you are thinking it’s because you will get a significant discount over current market value, that’s not one of them.