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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Don't Forget About HUD Posted by SeanW on January 05, 2004 at 8:28 PM I think I've let the "There are no deals at HUD auctions" mentality of CA investors affect my outlook too much. I've basically paid no attention to what's going on there for the last year. Well, looking at the bid results of the HUD auctions in my state, they're commonly dumping properties for 75% of tax assessed value. Condos and townhomes for 60%. Man, that's great. Plus, you don't have to remove the old owners, or their trash!! This shows part of the reason why there are so few good deals at a trustee sale, even in a "buyer's market". Many of the properties are FHA insured. The lenders just bid what they're owed, and pass the problem along to us, the taxpayers... Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : I think I've let the "There are no deals at HUD auctions" mentality of CA investors affect my outlook too much. I've basically paid no attention to what's going on there for the last year. : Well, looking at the bid results of the HUD auctions in my state, they're commonly dumping properties for 75% of tax assessed value. Condos and townhomes for 60%. : Man, that's great. Plus, you don't have to remove the old owners, or their trash!! : This shows part of the reason why there are so few good deals at a trustee sale, even in a "buyer's market". Many of the properties are FHA insured. The lenders just bid what they're owed, and pass the problem along to us, the taxpayers... Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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