I will move these items to this section at a later time. For now they are posted here: Pemco HUD power point presentation
and here: HUDguru synopsis

Southwest alliance has been calling all the buyers under contract and urging them to close by the end of the month.
HUDhomestore.com now has 451 homes available for sale in Texas (yesterday it was 394), but investors shouldn't get too excited. 
here is how the 451 breaks down (I know it doesn't add up... the govt isn't very good with numbers)

404 opened to owner occupants
24 opened to investors
68 lottery round

City side is the name of a company that will be a field service manager (FSM) for north texas.

10/5/2010 - ATTN BROKERS: Transition For the North Texas and New Mexico Areas: Southwest Alliance will continue to offer the properties listed for sale on our website through October 26 and will process bids in the usual manner. On October 27 any unsold properties will begin the transition process. The properties will remain listed on our website; however, any bids received during the transition period will be provided to the M&M III AM contractor to review and determine if the bid will be awarded. Southwest Alliance will not review or award the bids submitted during the transition period. The M&M III AM contractor assigned to the property is responsible for reviewing bids and notifying the buyers of the bid results.

Properties sold by October 27 will remain in the Southwest Alliance inventory but must be closed by Friday, December 10 or the property will transition to the HUD M&M III AM contractor for closing.

ENTRY SUBMITTED 9-27-10:
Email string of HUD official answering direct questions about switchover:


 From:NAME REMOVED TO PREVENT THIS GUY FROM GETTING TONS OF EMAIL
Sent: Monday, September 27, 2010 3:22 PM
To: Chandler Crouch [mailto:Broker@ChandlerRealty.com]
Subject: RE: Inquiry


Several questions. The transition in Colorado, New Mexico, Utah, and North Texas did not take place until today.  However, properties are still listed under southwestalliance.com for Northern Texas and New Mexico, and under mcbreo.com for Colorado and Utah. 

 

The properties that were initially transitioned were not listed for sale and will not be available under the new marketing environment for approximately 20 business days.

 

All information to selling agents will be posted on one of three Asset Manager websites in the near future.  HomeTelos is such one of the AMS’s that will be servicing the aforementioned area.  The marketing manager is not determined until a property has gone through some initial steps and inspection and then is assigned on a non-determined rotational basis.  In other words, we won’t know who will have the marketing part of the transaction until electronically assigned.

 

See my comments this print below answering your questions. 

 

NAME REMOVED TO PREVENT THIS GUY FROM GETTING TONS OF EMAIL, Branch Chief

Real Estate Owned Division

Denver Homeownership Center

 

From: Chandler Crouch [mailto:Broker@ChandlerRealty.com]
Sent: Monday, September 27, 2010 2:06 PM
To: NAME REMOVED TO PREVENT THIS GUY FROM GETTING TONS OF EMAIL
Subject: RE: Inquiry

 

NAME REMOVED TO PREVENT THIS GUY FROM GETTING TONS OF EMAIL, thank you for getting back with me.

I have searched through hudhomestore.com and hometelos.com high and low. I’m not finding any information.

The webinar said the changes would take place on 9-13. I talked with southwestalliance, they said the changes were delayed until 9-27 (today). I’m not seeing any changes. Were they delayed again? If so until when? How can I stay up to date on this information? Hudhomestore.com doesn’t have a place that will inform me of these things.

 

Here are some more questions I have:

Will I be submitting bids through hudhomestore.com or bidselect.com?

Properties eventually will solely appear in HUD home store.  Right now any available property listed in HUD home store will revert you back to the previous M&M’s bid site. As the transition progresses, all properties will be off of the bid select site (est 60 days) and all bids then will be made through HUD home store.  I recommend registering there now.  We are aware of several problems going on which is expected through such a large transition as this one.    

Will I turn contracts into a location outside of texas?

That is a possibility—you must follow the written instructions provided by the assigned Asset Management contractor.  We do not view the area as just North Texas---but as a combination of the national geographic described above. 

Most importantly, I just need to know when the changes are going to take place?

The transition is in place.  However, properties that were and are available for sale continue to be listed for sale under the previous M&M contractor.  There is no immediate affect on the market due to the transition of properties.

 

Can you forward me the exact page on hudhomestore.com that has this info?

 

Chandler Crouch

Cell: 940-368-4623
Fax: 866-313-8833
Texas RE Broker

http://twitter.com/chandlercrouch

http://www.linkedin.com/in/chandlercrouch

 

Chandler Realty Select - Welcome Home!

A top executive at SouthwestAlliance said the switchover was delayed until 9-27-10