Timing/price for bidding on HUD home that MIGHT reduce price soon

[Account Closed]

Hello all - Completely new to this but I am finding fantastic information here. I am looking to buy a HUD home as an owner occupant. There is a home I am looking at that was listed on 1/24/17 for $128,000 then price dropped by 8% on 2/24/17 to bring it to $117,760.

Question 1 - Are price drops typically done monthly?  So could I safely assume that the price will drop again in a few short days?  Could I expect the decrease to be 8% again?

Question 2 - If I bid BEFORE the price drop, does it make any sense to calculate my bid based on what I think they will be dropping it to? So instead of calculating the Net to HUD based on current asking price, I calculate based on current asking price dropping another 8%?

Question 3 - Does it just make sense to wait for the price drop and then submit a bid?

The reason I'm tempted to bid BEFORE the price drops is that I would really like to get this house and so I want to bid before anyone else who might be waiting in the wings for the price to drop for the 2nd time. 

If it matters at all I qualify for FHA financing and will most likely go with FHA 203(b) Repair Escrow loan. And my credit is super duper.

Thanks in advance.

[Greg H.]

@Account Closed

#1 As of now , there is no clear pattern to price drops as there has been in the past

#2 Bid in expectation of a price drop does not help once the price drops as older bids will not be manually reviewed at that time

#3  Watch for the price drop and bid %87-88 net to hud the next day

FHA loans are very difficult on Hud homes as availability of utilities may be limited. Make sure your lender is familiar with the Hud process as well as your title company. Very Important !!