Client Resources

Helpful resources for our clients

Here we have a compilation of foreclosure resources that we feel will be very helpful to our clients. Feel free to look around!

Instructional PDFs:

Facts and Tips - This is a guide to the top 10 facts & tips about online real estate.

Videos:

How a House becomes a HUD Home

Bidding on HUD Homes: The Secret

Useful Links:

Foreclosure Sources - We have compiled a long list of useful foreclosure web links.

Intro to Selling HUD Homes - An introduction and walk through of how Agents can register with HUD to sell their properties and how to place bids.

Foreclosure Banner Creator - Create a banner for use on your website.

Client Testimonials - Here are testimonials from our network of real estate professionals.

Advertising HUD Homes:

HUD Advertising Regulations - These will help make sure your Ads meet with appropriate guidelines

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/reo/mm/mmfaq

http://hudpemco.com/?s=advertise

an agent through how to register with HUD to sell their properties and how to place bids

Sample Advertisement

Foreclosure Home For Sale $321,900 Pasadena 4 bed, 2.5 baths in Great Neighborhood Way below market value Phenomenal Water views, Large Deck, Too much to list…call 555-555-5555 for more details or visit YOURWEBSITE URL

Sample Ad Image

More Foreclosures at YOURWEBSITE URL

Note 1: Remember not to use the front picture of the home as we don't want to give the address away so that they need to contact you directly or go to your site!

Note 2: Remember to leave something out. Too much information can eliminate the need to contact you.

Note 3: You are legally allowed to advertise any foreclosure on your site.

Sample Introduction For ALL Calls, Messages and Emails

"Good Afternoon, this is Shannon Kloss. I am the USHUD Foreclosure Specialist in Anne Arundel County. I received the inquiry you submitted while viewing foreclosures and wanted to reach out to you. I am available to answer any questions you may have or provide you with a list of homes in the area."

Keep it short, keep it sweet, keep it helpful
Call all leads 4 times within first 2 days of receiving them (THIS IS IMPERATIVE)
Use email as a second attempt to reach out (Subject Line Example: USHUD Foreclosure Inquiry - Free Listings in AA County)
Remember buyers want to speak about properties, whether you are a mortgage professional or real estate agent asking a few opening questions will help you to build a rapport. "Did you see any properties on the site that sparked your interest?" "What gave you the idea to look for foreclosures?"

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

Client Resources

Helpful resources for our clients

Instructional PDFs:

Videos:

How a House becomes a HUD Home

Bidding on HUD Homes: The Secret

Useful Links:

Advertising HUD Homes:

Sample Advertisement

Sample Introduction For ALL Calls, Messages and Emails

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HUD Foreclosures

Foreclosure Listings Increasing