This summer, HUD issued new contracts to sell its homes. As many of you know, historically these contracts have been held by a few companies (First Preston, Goldenfeather, etc.). The purpose of the new contracts, in my understanding, is to spread the business around a bit.

I understand the new contractors are going to be bidding out the local real estate services in each state. So far I've seen nothing in my state (Idaho).

Has anyone else seen any changes in the HUD process from the new contractors?



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Steve Taggart
Owner
CENTURY 21 Advantage
380 N. Capital
Idaho Falls, ID 83402
(208) 524-2121
staggart@ida.net

Since the changeover has now occured has anyone noticed a difference? Now that HUD properties are no longer in our MLS I find it difficult to remember to check the website daily for my investor clients.

The only recent change HUD has made in Texas is that Southwest Alliance is now the regional manager instead of First Preston. The process of selling a HUD home is essentially the same and the homes are listed on the MLS through one broad area broker in the DFW area.

It would be nice is Southwest Alliance would let contracts for HUD listings to more brokers in the area.

The regional manager now in Tennessee is Pyramid instead of Goldenfeather. Goldenfeather was essentially the same way - one broker had all the listings - but at least they were listed on the MLS. Now I have to check Pyramid's website on a daily basis to find out what is available. I'd rather someone else had the listing if I knew that the HUD's were actually out there and available to be searched for in a user-friendly manner.

www.best-assets.com is the north central company that has taken over our area. They also have a new broad listing broker for our state. All the HUD homes are now back in the MLS system. They are slow than First Preston, up to 6 weeks for offer acceptance. So prepare your buyers...

On the First Preston site, you can have email alerts sent to you for new listings in your area. I get them sent to me for the 7 counties around, so I can let clients know when there's a new one on the market. I think you have to go through "My Buyer's Center" on their menu to get that set up.

We use to have best-assets but when the contract came up again for our area,they re-assigned to www.afrhud.com and yes you have to check the site as the hud's aren't mls listed.In my experience huds are better for owner occupant than investors because hud budges very little on the price.

For Idaho along with Oregon and some other states the Listing Company is HMBI . Click here: HMBI
The listing Broker for Idaho is Gem State Realty, Inc. Walt Hess