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Surfah · 11-27-2006, 01:09 PM

Check out HUD homes. These are FHA foreclosures and they are popping up everywhere. In Utah there are very few on the market and this creates a ton of competition. HUD homes in Utah often sell at auction for $20K more than the government appraisal. But look next door in Colorado and there are around 2000 homes on the market up for auction. You can get into something at or below the government's appraisal fairly easily. Speak with a real estate agent that is licensed to bid on HUD homes and they can fill you in. It's a great way to pick up an investment property.

There are going to be more and more foreclosures coming on the market with all of these exotic loans. Most brokers can get you on a mailing list for these types of homes. Often times they'll have the homes broken down into groups representing each step of the foresclosure process.

11-27-2006, 01:09 PM	#3
Surfah Master Join Date: Jan 2006 Location: F'burg, VA Posts: 3,211	Check out HUD homes. These are FHA foreclosures and they are popping up everywhere. In Utah there are very few on the market and this creates a ton of competition. HUD homes in Utah often sell at auction for $20K more than the government appraisal. But look next door in Colorado and there are around 2000 homes on the market up for auction. You can get into something at or below the government's appraisal fairly easily. Speak with a real estate agent that is licensed to bid on HUD homes and they can fill you in. It's a great way to pick up an investment property. There are going to be more and more foreclosures coming on the market with all of these exotic loans. Most brokers can get you on a mailing list for these types of homes. Often times they'll have the homes broken down into groups representing each step of the foresclosure process. __________________ Ernie Johnson: "Auburn is a pretty good school. To graduate from there I suppose you really need to work hard and put forth maximum effort." Charles Barkley: "20 pts and 10 rebounds will get you through also!"