Columbus HUD Homes

You are probably not surprised to learn that we hit another record. Never before has NHMS listed 71 new HUD homes in a single week.
 
This brings the total number of available Columbus HUD homes to 215; more than any time during the past 2 years. On top of it, the median HUD homes price is now at $83,000, and 78 Columbus houses are listed for more than $100,000.
 
It goes without saying that new HUD listings are everywhere. You will find homes in Dublin, Worthington, and as far out as Newark – they are really rocking with five new HUD listings.
 
Watch your inbox on Sunday – we will feature the best of them exclusively for you.

Now there’s one home in Grove City I want to point out to you. The HUD house at 3148 Grant Ave in Grove City is listed for only $40,000. Sounds really low to me. The Franklin County auditor has it valued at $145,000! This may be a typo, but it spell great opportunity for the buyer. If they don’t catch it and withdraw the property from bidding, you  may be able to buy this one for much less than its real value. I will keep you posted! 

Listing Statistics

Total homes available: 215 (last week: 157)

Owner occupants: 165
All bidders: 50
New listings: 71
Sunday deadline: 65
Relisted/Price reduced: 29
 
Median Price: $83,000 (last week: $73,000)
Average Price: $85,174 (last week: $79,562)
Highest: $191,000
Lowest: $14,500
 
Homes less than $50,001: 49 (last week: 43)
Between $50,001 & $100,000: 88 (last week: 63)
More than $100,000: 78 (last week: 51)

Call me TODAY at 975-9650. 
Sunday is the bidding deadline for 65 HUD homes for owner occupants.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

The snow has just melted, but buyers are already crazy about HUD homes. When you see the bid results of this week, you will agree that there is a frenzy going on – at least when it comes to the nicer, suburban HUD listings.
 
Five of our featured HUD homes are in contract! It is amazing that some of them received much higher bids the second time around than when they were listed initially.

Obviously, most realtors don’t save a database of HUD bidding statistics. Well, this is one way we are different. If you work with me, you will know what HUD accepted previously. And you will not overpay on a relist!

3860 Maidens Larne Dr, Columbus, OH
List Price: $146,000
Offer accepted on 03/10/10 for $128,100
Offer accepted on 01/27/10 for $110,000

2917 Morality Dr, Columbus, OH
List Price: $146,000
Offer accepted on 03/10/10 for $122,155

4205 Nafzger Dr, Columbus, OH
List Price: $157,000
Offer accepted on 03/10/10 for $168,750
Offer accepted on 12/2/09 for $145,201

3445 Steiner St, Columbus, OH
List Price: $117,000
Offer accepted on 3/10/10 for $117,000
Offer accepted on 2/17/10 for $120,000
Offer accepted on 1/20/10 for $105,000

4455 Rolling Ct, Grove City, OH
List Price: $130,000
Offer accepted on 03/10/10 for $135,800
Offer accepted on 02/22/10 for $135,000

There are 2 reasons why Columbus HUD homes are still selling extremely well:

• Most buyers have waited for the snow to melt before they decided to go out and look at homes. March is the official start of the spring buying season.
• There is another deadline looming: the tax credit for both first time and repeat buyers will expire at the end of April. You must sign a purchase contract by April 30, 2010 or you won’t qualify.

Here’s the good news! There’s still a long list of exceptional homes available for all bidders. You will find 69 HUD homes on today’s bargain hunters list, 23 of them are boomerangs that got relisted last Friday.
 
And on top of it, the 65 new HUD listings from last Friday are waiting for offers with a Sunday deadline!

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

Now that HUD threw more than 60 Columbus houses on the market, I had to make a choice. I had to pick 6 houses that appeal to the readers of this blog. So, I decided to go with HUD homes in the just above $100K price range.

Why this price range? That’s what most first time home buyers are looking for. Many of my customers are searching for these types of HUD homes, because 

• they are affordable,
• they are located in quiet, family friendly neighborhoods,
• they qualify for the full amount of the first time home buyer tax credit, and
• they come at a discount, so you can sell them in a few years for a nice gain.

Check out the 6 HUD homes I picked for you this week!

3351 Rudon Ln, Columbus, OH
3BR/2.5BA 1,728 sqft Asking $120,000

6528 Pasque Ct, Westerville, OH
3BR/2.0 BA 1,520 sqft Asking $115,000

93 Leland Ave, Columbus, OH
3BR/1.0BA 1,014 sqft Asking $115,000  Clintonville

3726 Gibbstone Dr, Hilliard, OH
3BR/2.5BA 1,760 sqft Asking $135,000

1037 Beaujolais Pl, Galloway, OH
3BR/2.5BA 2,089 sqft Asking $128,000

4847 Allwood Ct, Columbus, OH
4BR/2.5BA 1,782 sqft Asking $138,000

Give me a call at (614) 975-9650, to go house hunting in the beautiful sunshine.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

This one’s for the record books! A total of 157 HUD homes are available in Central Ohio and 65 new HUD listings were added today.
 
New listings are almost everywhere. Just take a look at today’s HUD homes map and click on the red markers to find the details on each of the properties.
 
There’s a heavy concentration of 12 HUD listings in Blacklick, 9 in Grove City, and 12 in Canal Winchester. 
 

Let me point out one rare find: a 3 bedroom Clintonville ranch at 93 Leland Ave, just South of Graceland Shopping Center. It’s listed for $115,000 and insured for FHA financing.
 

Listing Statistics

Total homes available: 157 (last week: 102)

Owner occupants: 106
All bidders: 51
New listings: 65
Sunday deadline: 6
Relisted/Price reduced: 35
 
Median Price: $73,000 (last week: $69,000)
Average Price: $79,562 (last week: $73,950)
Highest: $167,000
Lowest: $8,800
 
Homes less than $50,001: 43 (last week: 33)
Between $50,001 & $100,000: 63 (last week: 46)
More than $100,000: 51 (last week: 23)

Call me TODAY at 975-9650, this will be a nice weekend for house hunting! 

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

This week the number of HUD listings available to all bidders hit a new high with 69 homes. We begin to see the impact of the loss of incentives for owner occupants.
 
The larger selection of Columbus HUD homes spells opportunity for investors. It has been a while since so many nice, suburban residences were available to all bidders, including homes in Reynoldsburg, Grove City, Blacklick and Canal Winchester.
 
Here’s a perfect example of a HUD home in Delaware that may be perfect for investors or owner occupants that want to play the HUD homes bidding game. This specific house is located at 233 Niatross Pl in Delware. It is currently listed for $150,000. It may not be the best deal at that price, but HUD will certainly accept lower offers.

So, how can you determine the lowest offer HUD will accept?

Obviously, nobody knows for sure what HUD will accept. Sometimes they even surprise us on the low end. So here’s a strategy you can use for HUD homes have a daily bid deadline. All homes on our weekly bargain hunters list are in daily bidding and available to anybody. 

The daily deadline means that you may submit an offer on one or more HUD homes every day. You will know the next morning, if your offer was accepted. If HUD did not take your bid, you can make a small adjustment, maybe increase your offer by 1% or so.  I will resubmit this new offer on the same day, and by the next morning we will have an answer.

Using this strategy you will ensure that you get the lowest possible price on a HUD home. It may take a few days or even weeks and somebody else may steal the deal away from you.

Keep this in mind! There is less competition on homes with daily deadlines, so your chances of getting a low offer accepted are very good.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

This week I previewed 3 Columbus HUD homes. Last Friday only 6 new HUD listings were published, so we are actually featuring 50% of the new inventory. I always try to strive for quality and I feel that the 3 HUD homes I picked are the best this week has to offer.

Two of our featured HUD homes have 4 bedrooms, and all of them are in suburban school districts. One of our previewed Columbus houses is even priced below $50 per sqft – that’s definitely a great value anywhere in the Columbus area.

Here are our 3 HUD homes for this week!

6034 Woodsboro Dr, Hilliard, OH
4BR/2.5BA 1,600 sqft Asking $120,000

5300 Osgood Rd S, Columbus, OH
4BR/2.5 BA 1,634 sqft Asking $80,000

6659 Rocky Den Rd, Reynoldsburg, OH
3BR/2.0BA 1,241 sqft Asking $105,000

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

We have another snowy weekend ahead of us. There are many great Columbus HUD homes available, but most of them require an offer by Sunday midnight (if you are an owner occupant).

This week’s HUD homes map is dominated by relists (22) and by HUD houses available to all bidders (46). With only 6 new HUD listings – that’s a historic low – there’s nothing new in the suburbs. 
 
This is a clear sign that it is more difficult to get a loan on HUD homes these days. And FHA announced that lending guidelines will be even stricter this spring as the housing market recovers.
 
I recommend that you focus your attention on the relists. Not only will you find many nice, suburban homes in this group (yellow on the map), but you will also have the best chance of getting a lower offer accepted. 

Listing Statistics

Total homes available: 102 (last week: 114)

Owner occupants: 56
All bidders: 46
New listings: 6
Sunday deadline: 28
Relisted/Price reduced: 22
 
Median Price: $69,000 (last week: $71,325)
Average Price: $73,950 (last week: $75,564)
Highest: $185,000
Lowest: $8,800
 
Homes less than $50,001: 33 (last week: 36)
Between $50,001 & $100,000: 46 (last week: 48)
More than $100,000: 23 (last week: 30)

Call me TODAY at 975-9650, if you would like to check out a few homes! 

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

The number of Columbus HUD homes available to all bidders is surprisingly low this week. Most of them are in the city of Columbus and priced below $100,000. This certainly means that suburban HUD homes are selling extremely well.

It appears that HUD is very motivated right now. The article I wrote earlier this year, why you should buy Columbus OH homes for sale in January 2010, still applies to February and maybe even March, especially, if the weather stays cold and snowy.

Now let’s take a look at the list of previously featured Columbus HUD homes below. Most of them sold for less than asking price.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

This selection of HUD listings shows why HUD homes are such a great value for first time home buyers. I picked the best homes in Blacklick, Groveport and Grove City. All of these homes are huge, more than 1,800 sqft each, they are located in nice, suburban neighborhoods, and best of all they are less than 8 years old.

Where else can you buy an almost new home for a 20% discount?

Here are 5 HUD homes you should definitely check out!

6931 Onyxbluff Ln, Blacklick, OH
4BR/2.5BA 1,808 sqft Asking $165,000

7834 Blacklick View Dr, Blacklick, OH
4BR/2.5 BA 1,846 sqft Asking $168,000

453 Crestmoore Dr, Groveport, OH
3BR/2.5BA 2,056 sqft Asking $145,000

1446 Carnoustie Cir, Grove City, OH
3BR/2.5B0 2,089 sqft Asking $175,000

1813 Brandigen Ln, Columbus, OH
3BR/2.5BA 1,884 sqft Asking $138,000

Give me a call at (614) 975-9650 for showings before the next weekend.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

Just when I finished the HUD homes map for this week, I discovered that NHMS published another announcement. It says that they will no longer allow buyers to order a 2nd appraisal when they finance their HUD home purchase with an FHA loan.

Over the past 6 months it was common practice that buyers, who offered more than HUD’s as-is appraised value for a property, were allowed to order a new appraisal to finance the full purchase price.  By discontinuing this practice the buyer’s FHA lender will have to use HUD’s as-is appraisal. If you offer more than the as-is value, you will have to bring the difference in cash to the closing table.

Strange as it sounds, this rule change may actually be good for you as a buyer. I believe that fewer people will over-bid on HUD homes. From personal experience I know that many buyers (and their realtors) may not be aware of this rule. Once they find out that they need to bring more cash to closing than expected, they are more likely to cancel their contract.

So, if you work with me as your agent you will be a winner! You won’t get tangled up in a bidding war, nor will I let you pay too much for a HUD property.

There are 26 new HUD listings this week. A great selection of new homes were listed mostly in suburban school districts, such as Hilliard, Delaware, Canal Winchester and Gahanna. 

With the loss of incentives for owner occupants I certainly expected that more homes would become available to all bidders. This week the total number of HUD listings fell to 114, while the number of homes available to all bidders swelled to 50. That’s almost 50% of all HUD Homes.

Listing Statistics

Total homes available: 114 (last week: 132)

Owner occupants: 64
All bidders: 50
New listings: 27
Sunday deadline: 16
Relisted/Price reduced: 21
 
Median Price: $71,325 (last week: $80,100)
Average Price: $75,564 (last week: $80,543)
Highest: $175,000
Lowest: $8,800
 
Homes less than $50,001: 36 (last week: 34)
Between $50,001 & $100,000: 48 (last week: 57)
More than $100,000: 30 (last week: 41)  
 

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI 
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, FHA, FHA loans, Homes for Sale, hud listings, Real estate agent