Are You Ready?
Lender Processing Services (LPS) reported yesterday that the monthly foreclosures starts on mortgages insured by FHA jumped 73%, to 63,129 for April. Pemco a California asset manager for HUD, announced Live BallRoom auctions have began, keeping up with the growing inventory, meanwhile, FHA, refutes the LPS numbers, stating FHA monthly foreclosure claims are around 19,000.
Yikes! I Just Want A Deal?
Buying a hud house at auction makes $ense, if you are renting, looking to downsize or helping you kids buy their first home. Exploring HUD Home inventory, will give you very reliable market data while building winning bid confidence.
Smart and Prudent Action
….. is needed to prepare for buying a HUD HOMEor any Foreclosed or REO Home. Once the market shows a strong buy signal, all the sidelines investors and first time buyers will be jumping in to the market hard. This means, everything moves faster with more offers and higher prices. Understanding government sealed bid auctions and public ballroom bidding will give you a competitive edge to buy at a good price.
3 Steps: To Winning A HUD HOME at Auction
1. Read How to Buy HUD Homes, know the difference between sealed bid auction and live ballroom auction. 2 Different strategies.
2. Search Hud Properties To Build Your Personal Confidence in pricing, bidding and neighborhood evaluation.
3. Practice Bidding, by using real contracts, HUD Buying worksheets and submitting practice bids to develop your winning strategies
5 Top Reasons I Love HUD HOMES
1. Bidding process is fair and bidding results are available with in 24 hours
2. Home Buying procedure is consistent with real deadlines.
3. I can buy property to flip or rent in all 50 states.
4. Save Money on closing costs (up to 3%), appraisals and inspections are completed by HUD
5. Low Down Payments, some states only $100 Down.