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Old 08-02-2012, 08:53 PM
 
2,082 posts, read 3,567,537 times
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Quote:
Originally Posted by Bulok View Post
It's not just listing homes available, it also shows historical sales figures in given areas. It shows you the percentages of discount compared to original list price and reduced price.

The big mystery of HUD that everyone tries to figure out is what their "magical minimum bid" is. Theoretically the bidding is automated and all you need to do is bid above at or above the minimum bid and be the highest if there are multiple bids to win.
The difficulty is that minimums are different depending on location and up til now there are no sites there that kept records of these stats.

The biggest benefit of Hudhometracker.com is for someone who is looking to maximize their "low ball offer" and still get accepted. In my case, I took the stats and calculated the average percentage sales price that gets accepted and was able to bid $10k less than my agent's suggestion and a price that usually only gets accepted on homes that have been in the market for greater than 30 days on a newly listed house.

Granted I was very lucky, the house had not gotten any bids yet and my realtor's suggestion was actually in line with accepted bids on initial listings. I took a gamble guessing that people were waiting for the price to drop. My bid was actually only $400 off their minimum.


I guess you have to be a numbers geek to really appreciate it I just had an "American Pickers" of real estate moment.
Interesting, thanks for the feedback!
I always thought the minimum accepted bid has to do with how much the house was in red at the time of takeover...never thought of it as a generic percentage number...
According to your statistical analysis, did you find a minimum bid percentage number (of the list price) that fits Charlotte area? Or is it dependent on areas?
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Old 01-27-2013, 02:22 PM
 
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Default another site with hud bid statistics...

I see posting thread looking for sites... well there is another site [url=http://www.housespin.com]HUD Homes Listing Current, Archive, Bid Advice[/url]

I use this for bidding on Florida HUD houses
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