Properties In NC Owned By HUD
I am a real estate broker in NC, our company represents HUD in 75% of the state. There are so many propeties for sale and the Government is selling them between 20 and 30 percent below value.
My question is why do you think they are not selling? The properties are in better than average shape and most are in good locations. Maybe they are not promoted very well by the govenment. As their broker, my hands are tied as to how much I can promote these properties.
I am interested in the possibilities that you have. how can I get more info.
I am interested, if you have more info that would be great
I am interested....let me know some details. Thanks![ Edited by pstabile on Date 02/16/2006 ]
I am surprised about how many folks went for this ad, had to delete some of the posts, with the "Oh email me the info."
Clever though I must admit.
John $Cash$ Locke
TCI ModeratorI
I fell for it, good timing for me, a friend is looking for a HUD property to buy.
Jim,
You are correct I would rather have everyone contact you than someone looking for a free ride, acting like they are the only one who has this information..
John $Cash$ Locke
[addsig]
Hud in my area is listed by one agent mainly. All offers are submitted by an agent online and get approved or denied(no counter) the next morning. I, being an agent, once lowballed 5 or 6 of them all of them at 60% of list price and got 2 accepted. Very negotiable, willing to take lower prices, although they LIST them very high.
Thats my experience
It is true I am the broker in this state representing HUD. I am simply asking for some help in understanding why as the listing broker the properties are just not selling.
It appears the area is just saturated with properties.
The concentration is mostly Raleigh, Durham and Greensboro with another 2 or 300 properties around the state. Currently there is nearly 600 properties actively on the market.
It was suggested I was using this as some type of ad, please do not misunderstand, I am only looking for a little insite. I have been with HUD for the past 15 years either as their broker or property manager. I am new to this forham and trying to get our investment club off the ground in Raleigh.
what areas do you work in VA? I own around the Raleigh area and SW VA? Do you only deal in HUD? Where are you networking in NC or VA?