It's about to become easier to find a home for sale by Uncle Sam.

Using a new website, would-be home buyers can locate houses being sold by the Department of Housing and Urban Development, the Department of Veterans Affairs and the Department of Agriculture.

Together, the three agencies list more than nine out of every 10 house foreclosures owned by the federal government.

It's not likely you'll find any real bargains. For one thing, the government is required by law to obtain the best possible price for the properties they take back from owners who have been unable to make their house payments.

And for another, many houses are run down because their previous owners have been unable to keep them up, so they often are sold "as-is."

Nevertheless, selling prices are somewhat below market, and the new website makes it a whole lot easier to find them. Simply click on a particular state, and a list of every house held by the three agencies pops up on your screen.

The listings are identical to those updated on a daily basis by each agency, but the new website is a portal that offers all of them at one place. It links back to the source websites, referring potential purchasers to the agency that owns the property.

Incidentally, anyone can buy a house from the feds, even investors. But you must work through a qualified real estate agent, broker or servicing representative to submit a bid or offer.

Although the number of houses that can be found on the site will vary from day to day as the participating agencies add and delete properties on a frequent basis, anywhere from 10,000-15,000 houses are likely to be listed at any given time, so there will always be plenty from which to choose.

The listing includes single-family houses, detached two-to-four-unit properties, townhouses, condominiums and even some manufactured houses.

Most properties held by HUD -- known as HUD Homes -- are offered on a priority basis to owner-occupants who are looking to buy a place as their primary residence. But if a house isn't sold after a period of time, anyone can make an offer.

By far the largest single owner of foreclosed properties, HUD currently has a portfolio of more than 32,000 houses on which buyers using loans insured by the Federal Housing Administration failed to make their payments as promised.

Potential buyers should work with a HUD-approved agent who can submit a bid on their behalf. All bids are opened at the end of the initial "offer period," and the "highest reasonable bid" is accepted.

If there is no reasonable offer, offers can be submitted at any time, even on weekends. All bids submitted after the offer period are opened on the next business day. And if a bid is accepted, the agent will be notified, usually within 48 hours.

The Agriculture Department's Rural Development program helps working families in rural areas in two ways, either with direct loans to low and very low-income families or guaranteed loans to moderate-income families. And the VA's Home Loan Guaranty Program assists veterans and active duty personnel with the purchase of houses in recognition of their service to their country.

But, like HUD, the two agencies sometimes must acquire properties as a result of foreclosure and resell to recoup their losses.

For USDA homes, buyers must contact the local servicing office in the area where the house they want to acquire is located. The office will provide the latest and most accurate information regarding the status of the house as well as your eligibility for purchase benefits.

Depending on your circumstances and the status of the property, the method of bidding and ultimately purchasing the property may vary.

To buy a VA-foreclosed property, have a real estate agent prepare the necessary documentation and paperwork, and submit your offer to the listing broker.

Published: September 29, 2004

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When Lew Sichelman first started writing about housing in 1969, he was the youngest real estate writer in the country. Now, 37 years later, he's one of the oldest -- and most decorated. He has been rated the top housing columnist in the country by the National Association of Realtors as well as by his peers in the National Association of Real Estate Editors. Indeed, NAREE has recognized his work on numerous occasions. One year - due to his advancing age, he can't recall which one - he earned top honors in the annual NAREE Journalism Contest in three out of the four major writing categories. It was the first time one writer has won so many NAREE awards in a single year. Known for his ability to make even the most difficult topics understandable, Sichelman also has been honored by the National Association of Home Builders and the Mortgage Bankers Association. He began providing in-depth coverage of and consumer-oriented information about housing and housing finance at the Washington Daily News, where he was real estate editor. He held that same position for nine more years at the Washington Star, which purchased the News in 1972. The Star, a so-called "writer's newspaper" which also had the misfortune of being an evening paper, was put out of its misery in 1981, and Sichelman, who had begun self-syndicating his column in 1978, decided to become a full-time columnist. Today, his column, "The Housing Scene," is distributed by United Media to newspapers throughout the country. He also is on the staff of National Mortgage News, an independent newspaper which is considered the bible of the mortgage business. And he writes for numerous other publications, including MarketWatch.com, where he answers readers questions once a week, Sports Illustrated (don't ask), RealtyTimes.com, BigBuilder and others. Sichelman is married, the father of five and grandfather of eleven.