Comments on: HUD Homes–Saving Big Money with HUD Foreclosures

By: Linda

Linda — Thu, 08 Sep 2011 02:42:29 +0000

Hi. I am bidding on a house in Arizona City, AZ. It is IE home. The list price for this home 34200. It is an extended listing period. We put in a bid of 29500. Do you think I stand a chance?

By: Adam

Adam — Thu, 04 Aug 2011 10:04:07 +0000

H.U.D. victimizes, plunders and destroys for it’s own pleasure. Prepare to be homeless dealing with HUD. This is how they operate to further support the welfare work first Act. & job placement programs. HUD is a welfare predator program who preys on the American dream.

If your considering in buying a HUD home please take the test below.

The HUD effect test.

1. Open all the windows in your residence in the winter time.
2. Turn off the heat or furnace for a few days.
3. Draw an Ice cold bath.
4. Turn (Full) on shower (Cold)
5. Carefully climb into bath with shower on and take all the money you intend to purchase a HUD house with and shove it down the drain.

If you enjoy and pass this test, HUD has a home for you.

HUD employees hold no civic duty to our country because there not Americans. Don’t support this agency or its employment base go find a true real estate agent in your area. You’ll be much happier.

Regardless how much you wish not to believe the truth. You’ll end up hiring an attorney (if you can afford one) after arriving homeless again.

By: SERGIO

SERGIO — Tue, 05 Jul 2011 18:00:11 +0000

Hello

It’s true 100%

I have bought my first property for 21.500$ Value is 70000$ and 10000$ for repairs and my second property for 22.000$ Value 82000$ and 8000$ for repairs.Make sense or not?????

By: Christine

Christine — Fri, 25 Mar 2011 19:07:55 +0000

You have an excellent website. Thank you for all of the information. I am a new real estate agent in Ohio and wondered where I find the Bid Results and Bid Statistics on the HUD homes. I have looked all over the HUD Home Store website and can not find it.

Thanks,

Christine

By: DR

DR — Sat, 22 Jan 2011 04:16:38 +0000

Mary, there isn’t a set formula for HUD minimum bids. The minimum bid varies from location to location and even from house to house. When I was actively buying HUD homes in Ohio, we got pretty good at guessing the minimum bid, but there were always surprises. It’s really trial and error. But having a real estate agent with lots of HUD experience is key.

By: Tom

Tom — Mon, 17 Jan 2011 16:44:39 +0000

Did not know this posting showed up. Web was stuck during loading and thought I had cancelled…… See next post.

By: Tom

Tom — Mon, 17 Jan 2011 16:40:53 +0000

NOT HAPPY WITH HUD………..
My experience is not proving to be that great. Am finding HUD is intentionally NOT disclosing important issues that affect the home’s condition.

Examples: Drive lots of miles to see what APPEARS to show a decent livable home. But upon arrival, we find out that the home is NOT habitable as someone does NOT bother to turn around and show the water damaged ceiling, walls and MOLD, roof damages, other leaks, etc. Yet their listing makes the homes sound wonderful. Then their YOU MUST PAY OUR LISTING PRICE, or close to, attitude really sucks. How does HUD think that structural damage, water damage, active MOLD, leaking roofs, etc. make a property that much more valuable?

When I run numbers for repairs, many times the repairs PLUS their demand price auto puts a buyer “under water”, plus property values are still mostly declining in many areas no matter what Realtors tell you. Remember, it is a Realtor’s job to help keep prices high for tax purposes and a larger commission check. Don’t take a rocket scientist to figure that out. (that should draw out a lot of defensive posturing…) I actually have Realtors getting upset if I don’t buy and go “underwater” upfront. Why would that be?

Now seems, since their new turnover, HUD does not even have enough respect to let bidders know their bid status. They just seem to toss your bids in the waste basket without even being told your bid was too low or even rejected. My experience with HUD is proving not to be worth all the time, fuel and effort to waste my time. I find Realtors are also fed up with their system and wasting all their NOT SO FREE gas showing junk…… JMO

Wonder who is paying for all the HUD homes to stay in inventory for long periods of time? Sure seems they are not all that interested in moving them out of inventory……..

By: Tom

Tom — Mon, 17 Jan 2011 16:30:18 +0000

My experience is not proving to be that great. Am finding HUD is intentionally NOT disclosing important issues that affect the home. Examples: Drive lots of mile to see what APPEARS to show a decent livable home. But upon arrival, we find out that the home is NOT habitable as someone does NOT bother to turn around and show the water damage ceiling, walls and MOLD. Yet their listing makes the homes sound wonderful. Then their YOU MUST PAY OUR LISTING PRICE, or close to, attitude really sucks. When I run numbers for repairs, many times the repairs PLUS their demand price auto puts a buyer “under water”. Now seems, since their new turnover, does not even have enough respect to let bidders know the bid status. They just seem to toss you bids in the waste basket without even being told your bid was too low or even rejected. My experience with HUD is proving not to be worth all the time, fuel and effort to waste my time. I find Realtors are also fed up with their system and wasting all their NOT SO FREE gas showing junk…… JMO Wonder who is paying for all the HUD homes to stay in inventory for long periods of time??????

By: Mary Schroeder

Mary Schroeder — Wed, 15 Dec 2010 14:16:36 +0000

Thank you for the article! It is very informative. I am in Indiana and there is a HUD house listed at $56,000. We bidded $50,000 (89%) which we think was reasonable enough. But HUD rejected it by cancelling our bid! Our real estate agent is not very experienced with HUD. Is there any way for ourselves to see bid results in a city or region so that we can come up with the lowest bid that will be accepted by HUD?

Thanks so much in advance!

By: CHANDA

CHANDA — Fri, 18 Jun 2010 12:55:31 +0000

May I bid on more then one HUD home at a time and then choose the one I like best out of the bids I win?