Re: HUD Bidding - Posted by Stacy (AZ)
Posted by Stacy (AZ) on March 08, 1999 at 16:32:52:
I’ve recently been researching Phoenix HUD properties, and have done a quick analysis of Asking Price vs. Selling Price for successful sales. About 85% of the sales are at or above the HUD price. When they are above the HUD price, they are a hundred or two above, never more.
But, of the 15% that are bought below the HUD price, the average is 11% below asking price. Some of the deepest discounts I’ve seen in the month that I’ve been watching are in the 15% to 19% range, but they are rare.
This is for Phoenix, of course. Your area may treat the HUD price as the minimum bid, but you’ll have to check. I did all of this research through the HUD website for AZ, so maybe you could do the same for your area.
Hope that helps-