Crab Apple Web Logs

The U.S. Department of Housing and Urban Development  runs auctions on homes foreclosed on from federally backed mortgages. According to a study by Tim Allen, a real estate professor at Florida Atlantic University, there aren’t a lot of steals in Calabasas, California.  Sales at a Florida HUD auction in 1998 were tracked by Allen. The research proved that buyers paid prices very close to assessed value. Beitler agrees that there is a “frenzy” at HUD auctions that can push prices to unreasonable levels. Although this may be a good option for some, there are different ways to secure a Calabasas foreclosure for a more reasonable price, which have already been discussed. All are great options and should be weighed heavily against one another before taking that first step to secure a Calabasas foreclosure in today’s market.