freddie mac: Part 2 My HUD bidding strategy. - 12/04/13 12:38 AM
Yesterday my HUD bid was accepted!  My buyers are excited.  If I had bid much less I know the bid would have been rejected.   How you bid for HUD bids depends on many factors. 
1)  What is the buyer willing to bid?
2) How long has the home been on the market?
3) What is the housing market like right now?  This week?  What has been happening with HUD bids?
4) What is the condition of the home?
5) How is my buyer paying for this home?
6) Is my buyer a home owner or an investor?
First I am going … (0 comments)

freddie mac: Not all bank owned properties are created equal... - 01/13/12 12:27 PM
During 2010 and 2011  most of my work was as a buyers agent for REO's or bank owned properties.....  One would think they are all the same but they are not.....I know HUD does not like to be considered REO or bank owned by for the purposes of this comparison I will include them in the description.   Bank owned property is property that the bank foreclosed on or took in leiu of foreclosure.   The bank  owns the property and wants it off the books... They often sell at a discount.  More importantly not all bank owned properties are created equal.....
So … (4 comments)

freddie mac: New guidelines for refinancing are supposed to be out today....Any one hear anything? - 11/15/11 07:15 AM
I keep looking for the new guidelines on the refinancing for Freddie Mac and Fannie Mae loans.... They are supposed to come out today but I haven't seen anything.  Does any loan officers out there have any news?  I have a lot  of people who want to know...Including me...I want to refinance but I don't know the score yet.  I have a few Fannie Mae investment loans that are upside down and strangling me...I was sort of hoping....

This is from a curious real estate agent....
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freddie mac: Freddie Mac -- My buyers woes.....Bidding process gets weird. - 11/14/11 09:35 AM
It started on Tuesday morning (election day)!  We saw a cute Freddie Mac property that my buyers liked.  I thought there was value (about $15K)...  They like the home so I called the listing agent....There was one offer on it....I convinced my buyers to put a bid in a bit high....In less then 2 hours we had a positive answer.  The next day they called me back saying they made a mistake...They had to market the property for 48 hours....They rejected our bid and we had to resubmit.Not only that the other offer was an investor offer....

Some buyers know … (3 comments)

freddie mac: OH well it is never good when there is a "glitch"....Maybe it will work out to my buyers advantage. - 11/09/11 05:20 AM
Yesterday we saw the Freddie Mac property....My clients liked it a lot.  Even without the normal kitchen appliances.  Their real estate agent felt that the house was undervalued....  There was another offer on the table...I encouraged my buyer to bid a little high....I submitted the offer....
 
REALLY WIERD THING HAPPENED....The offer was accepted within 2 hours....That has never happened to me in the world of REO real estate....  The other offer was an invester offer....GRRRR I would have had my buyers bid at asking price and ask for closing costs....They seemed happy and I went to bed thinking at least … (1 comments)

freddie mac: Aknowledgement day --- Fannie Mae problems - 09/07/11 09:21 AM
I have closed several deals in 2010 and 2011,  Mostly as a buyers agent and almost all of those bank owned property.   My latest deal is a Fannie Mae property. 
In the past the inspection timetable always started after the seller signed the documents (this was true for all bank owned property).  As I was reading the addendum I saw the words aknowledged date intstead.  I wondered what it meant.  I was told it meant from the moment we came to terms. 
That would be OK if I had a signed contract but I don't!  My aknowledged date is September … (2 comments)

freddie mac: Why sell HUD homes -- an essay - 07/15/11 12:34 PM
Over the years I have been the buyers agent for several homes in the Treasure Valley.  The first thing you want to do is make sure your broker has signed the agency up to sell HUD homes.  The first time I sold a HUD home I had to refer my client out and lose a significant portion of my commission check.   It also makes the deal stranger since you know all the in and outs of the deal and the other agent doesn't.  Talk to your broker or the office manager and ask for the HUD number and check to make … (2 comments)

freddie mac: A guide to buying a HUD (government owned home). - 05/19/10 12:09 PM
Well I have sold only bank owned property this year.  I can sell all types including HUD homes.
Click here for agent with HUD Number in the Treasure Valley of Idaho
luding HUD homes.  The cool thing about HUD homes is that they have a $100 downpayment progrom for FHA buyers.  The buyer needs to put $1000 earnest money down  but gets $900 back at closing.   This is on of the almost zero down programs left.  The bidding always starts with owner occupied bidding.  The buyer has to sign a paper at closing that they intend to occupy the home for … (3 comments)

 
Debbie Holmes, Gets the job done! (John L. Scott)

Debbie Holmes

Gets the job done!

Boise, ID

More about me…

John L. Scott

Address: 6223 North Discovery Way Suite 100, Boise, ID, 83713

Office: 208-323-4000

Mobile: 208-761-2551

This is a blog about all things real estate (and a few extras). I blog about my buyers, sellers, listings, short sales, the real estate market. I am internet savvy and am trying to learn more skills. I like blogging because I get to share information with other real estate professionals and my clients. I can find you a great home in the Treasure Valley. I was the Democratic Nominee for CD2, Idaho for the US Congress. I have two website: http://www.debbieholmes.net.


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