Indianapolis foreclosure buyers – take a look at HUD Homes

July 31, 2010

Many buyers are looking for a great deal on an Indianapolis foreclosure.  While the reality might not be as optimistic as the cable tv shows make it appear, there are some great buys out there.  With HUD Homes, you go into the home with some basic information: a price based on an appraisal, a property condition report and basic data about the home.  There is a bidding process in which the high bidder is awarded the property so long as it meets HUD’s minimum bid requirements.  (Often banks will throw out all bids and ask for a “highest and best”  after you have made your offer.)

But one of the biggest advantages of Indianapolis HUD Homes over typical Indianapolis foreclosures is that owner-occupants are given priority consideration.  In fact for the first ten days after a HUD Home is listed, they do not even consider offers from investors, even if the offers are higher.  And can you buy for less than appraisal?  Absolutely!!  In fact as of late July 2010, about 44% of the HUD Homes listed in Indiana had a list price below the appraisal.

Call me on my direct number at 317-709-2537 for more information.  You can see a recent list of selected Indianapolis area HUD Homes here.


New Indianapolis HUD Home list

July 23, 2010

The new list of Indianapolis HUD Homes (updated 7/23/2010) is now available.  What is usually three page list is a four page list today.  In the entire state of Indiana, there are 678 HUD Homes listed in all price ranges.  Typically that number is closer to 550 homes.

With more homes, that increases the likelihood that your bid could be accepted.  Of the 678 HUD Homes, 262 of them have a list date of 7/23.  By comparison, 228 have a list date of 7/16.

Because of changes anticipated in August, there is the possibility that HUD Homes might not be available for several weeks.  So now is the time to take advantage of this increased number of HUD Homes.

Here is the link to the updated list of Indianapolis area HUD Homes built 1990 and later:

List of Indianapolis HUD Homes (and surrounding counties) year built 1990 or later – Updated 7-23-2010

For more information about Indianapolis foreclosures and HUD Homes, call my direct number at 317-709-2537.

HUD Forms – Why don’t they do it like you do it?

July 23, 2010

I was talking to an agent from another area.  His team had recently gotten a bid accepted for a client.  But he said that putting together the forms was a chore.  I told him to take a look at my website and click on FORMS.  All of the forms needed for Indiana HUD Home bidding are right there in one PDF file.  And there is a checklist showing the list of forms and the current dates for each form.

The section on FORMS is there for your convenience.  Don’t you love it when you put a bid on a home and the agent shoves page after page of forms for you to sign?  OK – go there now.  Print out the forms (a 14 page PDF file) and look them over.  You have time to review those forms in advance.

Now for the answer to my friend’s question.  I don’t know why they don’t forms the way I do.  My clients who buy Indianapolis HUD Homes get those forms in an easy one file format with a checklist.

Indianapolis HUD Homes July 16, 2010

July 16, 2010

We have posted the list of HUD Homes in the Indianapolis Area as of July 16,2010.  This list contains homes built 1990 or later.  If you wish to consider other homes, let us know and we can get the information headed your way.  In the entire state of Indiana, there are over 600 HUD Homes available.  Many of these are only available to owner-occupants.  Bids from investors are only considered  after ten days.  So if you are planning to live in your HUD Home, you have an advantage.

List of Greater Indianapolis HUD Homes Built 1990 or later

Indianapolis HUD Homes July 9th

July 9, 2010

There were 194 new HUD listings, price reductions or back on market homes on July 9 in Indiana.  That brings the total to 567 listings.  Many of the HUD Homes in the Indianapolis area are less than 20 years old.  You can get a copy of that list here, sorted in zip code order.  These homes are subject to prior sale.  Owner-occupants get bidding priority for the first ten days these homes are listed.  Only after that ten day period are bids from investors considered.  (Yes that can be a HUGE advantage for somebody who wants to purchase a HUD Home as their personal residence.  And owner-occupants can get into some of these homes with a VERY LOW down payment with participating lenders.

List of HUD Homes built 1990 or later in Indianapolis and surrounding areas

These lists are available for our clients.  We can also get you lists of older HUD Homes in Central Indiana.  Call for that list or just to get information about Indianapolis area HUD Homes and foreclosures.  You can reach Dan Rosenberger on his direct line at 317-709-2537.

HUD Listings as of 7/2/2010

July 2, 2010

As a service for the convenience our clients, we have prepared a list of HUD Homes in Central Indiana built 1985 and later.  This three page list is sorted in zip code order.  I think that you will find it to be a very useful tool in seeing what HUD Homes are available in Indianapolis and surrounding counties.  Remember that owner occupants get priority for bidding on new HUD Listings.

List of Selected Indianapolis Area HUD Homes

Why should somebody considering Indianapolis foreclosures also look at HUD Homes?

  1. Bidding priority for owner-occupants
  2. You bid by the deadline and get the result by the close of the next business day.  (No waiting and waiting like the banks make you do.)
  3. Property condition report is available for each listing.  You still should get a property inspection, but at least HUD does disclose what they are aware of.
  4. Banks like offers with no inspection contingency.  HUD encourages you to get an inspection.
  5. With HUD Homes, you know whether or not the home should qualify for FHA financing.
  6. Special incentives for owner-occupants, like closing costs paid and VERY low down payments.
  7. Banks like cash offers.  HUD does not give any priority to cash over normal people who get a mortgage to fund their home purchase.

For information about HUD Homes in Central Indiana, contact Dan Rosenberger at Harvest Realty.  You can reach him on his direct number: 317-709-2537