June 5, 2009
This site specializes in Indianapolis foreclosures and HUD Homes. Be aware that any homes featured in this site are but a tiny percentage of the homes that are available. And of course many of the HUD Homes and foreclosures will sell very quickly. So it is best to look at this site as a sampling of the types of homes that you can expect to find when looking at Central Indiana HUD Homes and foreclosures. Some of these might have already sold. But there are others, and there will be more listed every week.
PS – For convenience of our clients, we have a form packet with forms used to purchase a HUD Home in Indiana. Click on the FORMS tab for more information.
October 25, 2010
HMBI is phasing out of its management functions. The remaining 175 HUD Homes in the state of Indiana are available for simultaneous bidding, with all bids due by Oct. 27, 2010. To get more information about these remaining properties, call Dan Rosenberger right away. In order to bid, you must have a pre-qualification letter from a lender. You can reach Dan Rosenberger of Harvest Realty on his direct number 317-709-2537.
New listings are no longer being handled by HMBI. You can call for information about those properties as well.
October 13, 2010
As of 10/13/10, all remaining HUD Homes in Indiana being marketed through HMBI will have a 15 day bid period. On 10/28/10 all bids will be opened and evaluated. Unlike the old system where bid results are posted on the afternoon of the next business day, they expect that results will be delayed by a few days. There are expected to be about 170 homes in Indiana that will be subject to this 15 day bidding period.
Listings will continue to be posted under the new selling system. There are currently 8 homes listed under the new system. Those can be found at hudhomestore.com. The majority of HUD Homes under the new system will have a 30 day owner-occupant priority period.
October 11, 2010
Well, it finally happened. If you go to hudhomestore.com, there are actually 7 HUD Homes listed in Indiana under the new selling system. The newly listed homes will have a bidding deadline of 30 days from list date if they are eligible for an FHA mortgage. If they are not eligible for an FHA mortgage, the bedding deadline will be 5 days. After the initial owner-occupant bidding deadline, bids from investors may be placed.
October 8, 2010
Listings under the new HUD selling system have started to appear in Indiana. Those homes are managed by PEMCO. There are still homes available from the prior management company, HMBI, but those are expected to transition over to the new system soon. Under the new system, owner-occupants have priority for the first 30 days of a listing. All of the remaining homes marketed by HMBI are available to either investor or owner-occupant purchasers.
With several banks freezing foreclosures in Indiana and some bank-owned properties being withdrawn from the market, we know that all homes that have been through a foreclosure will be watched carefully. We will try to stay on top of news about this. In addition to working with buyers on Indianapolis Area HUD Homes and foreclosues, we can also work with new homes, builder spec homes, short sales and regular listings.
September 20, 2010
On Sept. 17, for the first Friday in years, there were no new HUD listings. HUD is phasing out the present contractor, HMBI and will be working with new companies moving forward. So what does this mean for the home buyer? Here are several things to note:
- HMBI is still responsible for the sale of remaining homes. As of Monday Sept. 20, there were 461 homes for sale in Indiana. After bids results are posted in the afternoon, ALL homes will be available for bidding by investors as well as owner-occupants.
- When the new listings begin with the new contractors, owner occupant priority will increase to 30 days for homes eligible for FHA Financing. (Categories IN and IE)
- When the new listings begin, owner occupant priority period will decrease to 5 days for HUD Homes that are not eligible for FHA financing. (Category UI)
- Homes will be able to be listed any day of the week. Homes will no longer just be listed on Fridays.
- Information about all HUD Homes in the country will be on a new website, hudhomestore.com
We can supply you information about the remaining HUD Homes available in the state of Indiana. With the new system, it will be a learning process for everybody involved. For more information you can call my direct number at 317-709-2537. We are a brokerage registered to sell HUD Homes, but we and this site are not in any way affiliated with any government agency.
September 10, 2010
On 9/10/2010 there were a total of 593 HUD Homes available with 127 of them having a list date of 9/10. 283 were listed with a price reduced below the HUD appraisal.
More locally, in the Indianapolis area (Zip codes beginning with 460, 461 and 462, there were a total of 216 listings.
- 89 were listed at a reduced price from HUD’s appraisal
- 38 have 4 or more bedrooms
- 60 were built 2000 and later
- Prices ranged from $6,750 to $180,000
- There were 12 homes listed in Hamilton County
- There were 17 homes listed in Hendricks County
- There were 18 homes listed in Johnson County
If you would like a list of homes that meet your requirements, call 317-709-2537 which is my direct number. This website is offered by a real estate broker who tries to find good values for his client. It is not affiliated with any government agency.
September 3, 2010
There are 200 HUD Homes listed with a list date of 9/3 in the state of Indiana. Of those, 121 have a list price that has been reduced from the appraised price. If you are interested in an Indianapolis foreclosure or HUD Home, you really need to review these HUD Homes. There are quite a few newer homes located in Hamilton and Johnson Counties. Of course there are HUD Homes available all over the Indianapolis area.
HUD will be announcing some changes this week, so we expect that they will be transitioning to some new sales procedures. To get information about HUD Homes that are available NOW, please contact me on my direct number 317-709-2537.