175 HUD Homes in Indiana – bids due Oct. 27

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.

Transition plan for remaining HUD Homes

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.

The new era begins for Indiana HUD Homes

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.

Big Changes – The transition is underway

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.

Indianaolis HUD Homes update

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.

200 New HUD Listings 9/3

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.

Indianapolis area HUD Homes Aug. 20, 2010

New lists of HUD Homes are released on Fridays.  From that day, owner occupants have bidding priority for ten days.  After that bids from investors are considered.  On 8/20/2010 there were 651 HUD Homes available in the state of Indiana.  Of those 651 properties, 259 have a price lower than HUD’s appraisal, 162 were built 1990 and later and a few of those built 1990 or later showed a list price of $60,000 or less.

Owner occupants have more advantages with HUD Homes.  For buyers using FHA financing, down payments are available at participating lenders that are far less than the usual FHA down payment.  (It is not zero down, but it is close.)  Click below for the updated list of HUD Homes built 1990 are later in Indianapolis and surrounding counties. This list includes areas like Fishers, Noblesville,  Sheridan, Brownsburg, Greenwood and other nearby communities.  For more information, call my direct number at 317-709-2537.

HUD Homes Indianapolis Area Updated 8-20-2010

Indianapolis HUD Homes update August 13, 2010

Indiana continues to have a plentiful quantity of HUD Homes. As of 8/13/2010 there were about 650 HUD Homes available throughout the state.  Of these over 400 showed a list date of 8/6 or 8/13 and are only available for owner-occupants.  After ten days bids from investor-buyers would be considered if the property is still available.

Here is a list of HUD Homes in the Indianapolis area built 1990 or later:  List of Indianapolis Area HUD Homes

Of the 228 Indiana HUD Homes with a list date of 8/13

• 108 had a list price less than the appraisal.
• 46 were built 1990 or later
• 40 homes had 4 or more bedrooms

List of HUD Homes Indianapolis Area

This week HUD has 649 HUD Homes available in the state of Indiana.  Of these, 380 are currently reserved for bidding only by owner occupants.  Bids from investors for HUD Homes are considered after ten days.

Of the 184 HUD Homes with a list date of Aug. 6, 2010, 74 have a list price that is less than HUD’s appraisal.  50 of the Indiana HUD Homes listed on 8/6 were built in 1980 or later.   If anybody tries to tell you that HUD Homes are all older run-down homes, don’t take that as final word.  While there are plenty of older HUD Homes that need work, there are also plenty of newer homes that you might want to consider.

Here is a list of HUD Homes in Indianapolis and surrounding areas that were built in 1990 or later.  Contact me if you have any questions.

Indianapolis foreclosure buyers – take a look at HUD Homes

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.