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repairs exceed $5000. This is a great way to go if you

don’t mind the hassel of organizing the fix-up. There are

consultants that specialize in 203k loans and can help

facilitate the process. Hud also offers a repair escrow option.

The repair escrow is for homes where the repairs are

less than $5000. dollars. Home path finance also

offers a renovation loans on fannie  Mae Bank reos.

To find out more about renvoation loans and Hud homes

check out this seminar coming up Oct 29th in Tucson.

www.tucsonbankrepos.com

 YES YES YES YES YES YES !!!!!

Arizona has a 22% downpayment assistance program that is available

on REO homes. Hud homes will qualify for this program.  Its important

to realize that one of the requirements is that the property be sold

for 1% under the appraised price. HUD homes are appraised in advance

so its very easy to determine if the home will qualify. Simply

look on the mcbreo.com website and check the as is value.

Keep in mind that HUD will not allow the property to be reappraised

during the sale process.

Welcome to Hud Bid Secrets,

This is where we pull back the curtain and give you tips, tricks and techniques to get a winning bid on a HUD home. We are located in Tucson AZ and we monitor the state of Arizona. With over 20 years experience on HUD homes we have discovered through the university of hard knocks what works to get results.

  Hud homes during the boom years took a back seat as the loan of choice was a typically conventional and not guaranteed by HUD. Since the subprime meltdown and no more Alt A or stated income loans  HUD Fha loans are now the loan of choice for most buyers in the affordable housing ranges. This means that HUD home inventories will dramatically rise over the next decade. Our goal is to be at the forefront on research for HUD bidding techniques. Fortunately in the last few years HUD has adopted a transparent system so consumers and agents can actually see what the competition bid on a HUD home after the sale. Plus even unaccepted bids are shown on the bid statistic page.

   On my first   HUD sale  in the mid 80′s we looked at a home for only $23,000. I knew instinctively the price was low. We bid $5000 over the asking the price and got the winning bid. Turns out there were 13 other offers.  Fast forward to the year 2009 and the days of multiple bids hascome again. In Tucson and Phoenix we see anywhere from 2 bids to 30 bids on a home. The key to  ne when there will be multiple bids is the  home is hot  and the area. Its an art and a science to determine if the house will be in the extreme popularity zone. An Experienced agent can usually determine if the home is  under priced .  It may be wise to  aggressuve bid up if the home is priced substantially below market. In any case its best to carefully review the comparable sales. With a competitive bidding strategy you will get a winning bid!