--76.29.xxx.xx

HI ROY- I have not recently but funny thing is i heard about one this morning and told my broker to get me in.I used to buy so many my secretary was on a first name basis with the closing attorneys secretary,this was back before intrnet,i would call once a week and they would fax a list to me.From my experience back then i never got that kind of a price reduction but i am not saying dont try,you never know --142.93.xxx.xxx

Here is the address of the HUD house I am considering making an offer on. I want you to tell me what you would offer on this house. 1423 Goss Ave. Gadsden, AL 35903. This house has been listed on Zillow for over 8 fricking months! Why is it that HUD does not realize this house is over priced? --76.29.xxx.xx

Roy,I like that house but i have no idea what it would be worth, i have no way to check comps or even know the neighborhood,that being said 267 days on market indicates a problem and to me that indicated price is too high.Why does HUD not realize it is over priced? 2 reasons 1 they are govt employees so what do you expect? 2 what happens on friday? they get a pay check whether they got the house sold or not so they dont care.I fully expect prices to come down but if someone can hold out they may still come close to there price but where the bargains will be found is the guy who loses a job and cant make 8 months of payments till it can be sold,he will sell it for the balance on his mortgage to someone like us and go live with family. --142.93.xxx.xxx

--76.29.xxx.xx

Roy, I bought several HUD houses in 8-9-10 and bought them quite a bit below asking price. If you are interested in buying this house have your agent make your offer. HUD can only do 3 things. Accept your offer, reject your offer or counter your offer. No big deal. --68.38.xx.xx

PS. I could find this on Realtor.com but not on the HUD website. --68.38.xx.xx

Roy, On Zillow it looks like the house was listed last year for 64K and still didn't sell. I wonder if more is owed on the house than it is worth. --23.245.xxx.xx

Roy,write an offer for what works for you,if your agent refuses go find another agent. Gene-It is a hud house so nothing owed at this point and i dont think they care about what they recover for the tax payers --142.93.xxx.xxx

If HUD wants to be uncooperative and not budge much on their ridiculous list price, I have other similar non-HUD homes to make offers on. I just remember the days when HUD had a massive backlog of foreclosed homes and was eager then to make deals on them. --76.29.xxx.xx

I think the days of picking up $20k HUD houses is gone at least in my area. I’m kicking myself for not picking up more when I had the chance --24.52.xxx.xxx

From 2009-2015, I was on a house buying spree since most of the houses I was buying back then were in the $5-$20K range. I bought one HUD house at $15K, which is worth $90K today and another HUD house at $9K which is worth $75K today. I have each of these houses rented out at $1,000/month and it makes more sense to keep them as rentals than to sell them. This is the reason I do not "flip houses". --76.29.xxx.xx

I go to a lot of foreclosure auctions and mostly the owners have died or they are vacant but way less than before covid which seems to be in line with the article we discussed a couple weeks ago saying 14% of FHA mortgages are behind and not allowed to foreclose --67.205.xxx.xxx

Our sheriff sale list is FILLED with reverse mortgage properties. --98.237.xxx.xx

Just got back from seeing the inside of the house with my new agent. She agrees with me this house is over priced. I made an offer at $53,395. She told me that offers that have all odd numbers in them, tend to get accepted more often than offers with multiple zeros in them. It will probably be next week before I get a response from my agent and HUD. --76.29.xxx.xx

--107.147.xx.xx

Most of the houses in this hood are either 2/1 or 3/1's with roughly 1,000 square feet. A previous home owner added a 2nd bathroom on the back of the house which converted this 3/1 house a 3/2 which I consider a real bonus. The only thing that keeps this house from being 'modern' is it does not have central heat and air. It still has the ancient gas floor furnace with the steel grill on top. Cost to put Central H/A with new original ductwork, would be around $5,500. --76.29.xxx.xx

--67.205.xxx.xxx

Are there any real live breathing housing people at HUD ? Or do all offers get fed into a computer and AI determines the outcome? Does anyone at HUD care that people like me are trying to solve the local housing shortage? There is no justification for allowing a good house just to sit vacant for eternity. Yes, I know. I am preaching to the choir here. --76.29.xxx.xx

It USED to be they'd accept if it was within 20% of asking. No more. --216.126.xx.xxx

Roy-I assume there is someone at HUD but your offer may be decided on by AI or a computer totally without human input,I have no idea.Whoever is there is a govt employee so dont count on them caring about anything other than what happens on friday? the good people who come into govt or union employment seem to be ruined in 6-12 months then spend the career being concerned only about getting there check on friday.Dont get worked up about it,it would surprise me if you get the house 6 months from now for half the price, your tax dollars at work --67.205.xxx.xxx

--50.96.xx.xxx

I wonder if it would be worth offering more $ on these properties to get past the computer firewalls and THEN go view the property and renegotiate with an actual human. --24.152.xxx.xx

At least once I then offered less and still won the bid. It's worth trying! --74.222.xx.xx

I agree with the fact that they are gov employees who do not know or care about housing. Also some are in warm places and just do not realize what the cold can do. --107.147.xx.xx

This HUD house has been "winterized". Every faucet and the toilet has those labels attached saying "Do not use,...this house has been "winterized". Whoever winterized it, I sure wish they had flushed the toilet before pouring antifreeze in the tank. --76.29.xxx.xx

Like any auction stick to your "guns" and be prepared to walk away. --198.168.xx.xxx

Every "winterized" house I bought had PLENTY of plumbing problems. Remaining water settles at the lowest point and the pipe pops. Appliances (dishwashers, washing machines) can't be winterized ... useless they are moved to a heated space. --198.168.xx.xxx

Every house that I have bought that was approx. 50-75 years old, had major plumbing problems. In vacant houses, water sits inside the original galvanized pipes and this creates massive amounts of rust inside the pipes. When you turn the water on, usually nothing comes out. This is one of the many reasons I refuse to pay anywhere near the list price for a house. They usually have to be completely replumbed with PEX. --76.29.xxx.xx

Roy,I am doing a major rehab, galvanized pipes that worked just fine but i am keeping this place so we cut everything out and replaced with pex, it is cheaper to do it now than patch it when tenants are living there --67.205.xxx.xxx

It's advertised to survive a full freeze and I am using plenty of it .... just curious. And the follow on question can Shark bite survive a full freeze? --198.168.xx.xxx

tryan- several years ago i had pretty much a full freeze in a 2 family, faucets had to be replaced,water heaters must not have frozen solid as i dont remember any problems.the pex survived although one spot blew up like a balloon but once the heat came back on it went back to normal size and was fine --67.205.xxx.xxx

12 years ago, the winter temps here went down to 5 degrees which was a record low for us. I had one tenant who had frozen PEX pipes and he called me asking for my permission for him to go into the crawlspace with a butane torch and thaw the pipes out. I then had to explain why that is not a good idea with PEX pipes. 2 days later when everything had thawed out, none of those frozen pex pipes had busted. --76.29.xxx.xx

But I still replace all with Pex when I can. --107.147.xx.xx

However this was over a decade ago and when i went to purchase others the prices were unusually high for properties in need of a lot of work. --65.60.xxx.xxx

"If you aren't embarrassed by the offer, you offered too much." --107.147.xx.xx