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With several banks freezing foreclosures in Indiana and some bank-owned properties being withdrawn from the market, we know that all homes that have been through a foreclosure will be watched carefully.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.