Posted by David Krulac on February 05, 2002 at 21:37:16:
first of all IMHO its not FMV that HUD lists its properties. I recently saw one of the HUD apprasials and I was shocked to see a comp with less than 50% of the square footage! IMHO that was not a comp.
Most of the time the HUD prices are high, IMHO higher than FMV given the condition. Sometimes the HUD price is too low, which very seldomly escapes many bidders who overbid the property more than HUD’s asking price.
The prices are all over the map but generally too high.
As far as accepted offers, there al over the map too. My recommendation is NEVER bid more than your personal comfort level for that specific property. If the offer is accepted good for you. If not then so be it.