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 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With several banks freezing foreclosures in Indiana and some bank-owned properties being withdrawn from the market, we know that all homes that have been through a foreclosure will be watched carefully.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 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.
August 14, 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
August 6, 2010
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.
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.
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.