Hud home offer rejected

[Kay Kay Singh]

There is a Hud home 3/1 that I gave an offer motivated by last week's podcast on BP.the property is just next to our other rental property that we bought for $14000.00 and this property is almost the same and has been listed for $22000 for 16 days and Hud countered my offer at $18700 net . My next door rental is rented at $580.00/month . Should I counter or wait a little bit because it has not been listed too long and there were no other offers on it . Please give me your expert advise.

[Mark Ferguson]

hud most likely won't budge until 30 to 45 days when they lower the price.