hud: The HUD deal closes today! - 02/20/14 10:49 PM
After 73 days from our accepted offer.   After a terrible ordeal for my client refinancing his current home.  After 2 extensions.  After a TV being dumped in the back yard.  After problems with the inspection (because the heater didn't work and it was freezing outside).  After the client leaving a ladder on the property before closing.  
My HUD deal is closing!  It isn't an expensive home.   I could have flipped burgers for my commission!  Lots of aggravation.... HUD deals always are that way.  YEAH MY CLIENTS WILL HAVE THEIR NEW HOME and I will have PEACE.

Sometimes before closing a buyer starts to feel ownership of the home.  Let me make it clear.  UNTIL the home is Signed, Funded and RECORDED you, the BUYER do not own it.  If you want to fix something you need to get the SELLERS premission!   You also should not be on the property without permission.  With a HUD deal especially the BUYER and the AGENT signs a document stating that they will do no repairs or improvements to the property.  They will not go on the property without a REALTOR. 
UNTIL the deal is FULLY CLOSED the buyer is considered … (2 comments)

hud: A wild ride in real estate today! - 01/23/14 10:32 AM
I was up early emailing some buyers about a house and the upfront money required.  I called the agent asking for utilities and was told that they were negotiating a contract.   I warned my buyers if they wanted any chance on the home they had better act fast.  They didn't and the house is gone.
I called BLB resourses to extend my HUD contract.  They felt I did not have enough documentation.  I tried to deal with the loan officer that my clients are using to refi their current home so they can buy the HUD home.   My client … (5 comments)

hud: 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)

hud: Offers on REO properties Chapter One... HUD bidding - 12/02/13 10:31 AM
Today I wrote two offers.  One is on a HUD property and the other is on a Fannie Mae property.   Both offers are different to write then the normal offers.   We will talk about the HUD property today.
When writing up a HUD offer the first thing to make sure of is that your broker has an NAID number.  If he doesn't you can't write it up.  You have to refer it elsewhere.   The next thing you have to do (unless you have already done it) is to register yourself with HUD.   When you update your sale person license it is important … (1 comments)

hud: 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)

hud: 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)

hud: More HUD fun.... They tried to take the keys before we could change the locks.... - 07/22/11 02:33 AM
Yesterday we funded and closed on the home with the cut down rose bushes.  At the signing the title officer said something that made me nervous so I went and got the keys the day before we were supposed to fund.  I DID NOT GIVE THEM TO THE CLIENT.   I found out at 1:30PM that the deal was recorded.   I gave the keys to my client around 3:00 PM.  While we were still on the properpty the listing agent came for his lockbox, sign and keys.  I told him my client needed the keys because the locks hadn't been changed yet.  … (3 comments)

hud: The rosebushes are missing....... - 07/20/11 01:41 AM
This Sunday while I had 20 guests at my house my HUD buyer called me.  Apparently all the shrubery was clearcut on 2 sides of the home (including the heritage rose bushes)
As soon as my guests left I went to the listing and sure enough there was no shubbery and there was no branches on the ground.  I called the listing agent who sent an email to the assest manager on Sunday.   On Monday I called the property manager.  At first they said they would check into it.  Then I called the asset manager who said they had nothing to … (4 comments)

hud: 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)

hud: My HUD bid was accepted!!!! - 05/26/10 06:29 AM
Well my buyer found a home in Caldwell, Idaho she liked that was listed for $88,000.  She got cold feet and didn't bid on the day bids were due.  Fortunately for us neither did anyone else.   I called her on Wed. and she aggreed to start the bidding.  She first bid $75,000 then 80,000, then 82000 and finally $83,000.  She asked for 3% closing costs and I asked for my commission.  The contract was accepted yesterday and we should close in mid July.  If the HUD process interests you see my last blog post.  This home is a newer home in … (0 comments)

hud: 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)

hud: HUD home with problems - 01/20/10 05:05 AM
My buyer is buying a HUD home with Furnice and AC problems with a FHA IE, $1500 escrow to fix electric problems with HVAC.  I had my inspectors in and they say that the house needs a new AC.  and the furnice is old and probably corroded.  The $1500 would just start the problem.  A new unit is $4700.  It seems that misrepresented the problems with furnice.  
ON a side note they improperly winterized the house and a pipe burst in the dishwasher.  When we turned on the water to inspect it dumped a lot of water under the subfloor.  The … (2 comments)

Debbie Holmes, Gets the job done! (Gold Key Real Estate) Rainmaker large

Debbie Holmes

Gets the job done!

Boise, ID

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Gold Key Real Estate

Address: 915 N. Cole Rd., Boise, ID, 83704

Office: (208) 376-9000

Mobile: (208) 761-2551

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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:




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