Posted by Matt (MPD) IL on March 14, 2006 at 12:10:07:
Obviously the net to hud number must vary from market to market. For years, when GoldenFeather was running the show for HUD we were able to get deals where the net to HUD was only 84% of list. That seemed to be the magic number nationally for a long time as well with other people saying the same thing here on CRE.
Today with HMBI, we’ve offered less than the 96% that you talked about and have still gotten deals as well. I don’t know of a magic number yet as we’ve only been tracking HMBI for a short period though.
I will say this as an aside, none of these were more than 30 days on the market either. The most recent one I picked up was only in the investor period on the second day when they accepted our offer.
Just some food for thought.