Columbus HUD Homes

Three Central Ohio suburbs dominate the Columbus HUD Homes market. HUD homes in these cities are typically less than 10 years old, offer more than 1500 sqft living space and come with at least 3 bedrooms and two car garages.
 
You can buy Columbus HUD homes in these 3 suburbs for up to 50% less than what they were built for. Of the 76 HUD homes available today, 25% are located in these 3 suburbs!
 
Here are the cities I am talking about:
Grove City 6 HUD homes (4 new listings)
Canal Winchester 6 HUD homes (1 new listing)
Blacklick: 7 HUD homes (1 new listing)

Quick Update: The $224,000 house in Powell is in the contract. This time HUD accepted $180,050 – that’s a 20% discount!

If you missed out on this deal, another Powell HUD home became available today. It’s a 1441 sqft house built in 1992 and comes with very large lot. Call me, if you can’t find it on the map!

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Listing Statistics

Total homes available: 76 (last week: 72)

Owner occupants: 61
All bidders: 15
New listings: 15
Price reduced: 46
 
Median Price: $63,000 (last week: $62,000)
Average Price: $75,853 (last week: $73,343)
Highest Price: $190,000
Lowest Price: $10,000
 
Homes less than $50,001: 29 (last week: 28)
Between $50,001 & $100,000: 20 (last week: 24)
More than $100,000: 27 (last week: 20)
 
Call me TODAY at 975-9650 to schedule showings for this 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, HUD listing, Powell, statistics

This week’s featured Columbus HUD Homes are worthy of a celebration for the Holiday Weekend! These 3 Columbus houses are suburban “mansions” with more than 1800 sqft of living space. Perfect for young families and first time buyers. Even better, you can purchase these HUD Homes at a significant discount!
 
Don’t miss out on these 3 great Columbus HUD homes:  

8557 ROBBINS LOOP DR, Reynoldsburg, OH
List Price: $145,000  2,200 sqft  4 BR 2.5 BA

796 DELONG ST, Pickerington, OH
List Price: $165,000   1,935 sqft  3 BR 2.5 BA

 
1300 FOUR STAR DR E, Galloway, OH
List Price: $148,000  1,802 sqft 3 BR 2.5 BA 

Previously featured HUD homes are still available for you to see at the following website: http://columbushudhomes.postlets.com
 
Call me at (614) 975-9650!

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, HUD listing, mansion, Memorial Day, suburban

What is a HUD Home?

A HUD home is a 1 to 4 unit residential property acquired by HUD. On a foreclosed home that was originally financed with a loan insured by the FHA, the lender can file a claim for the balance due on the mortgage. FHA pays the lender’s claim, transfers ownership of the property to HUD, which then sells the home to recover the loss on the foreclosure claim.

Who can buy a HUD Home?
Almost anyone! If you have the CASH or can QUALIFY for a LOAN (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.

How are Columbus HUD Homes sold?
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. The management company for Ohio HUD Homes is NHMSI.

Can I Buy a Columbus HUD Home Directly from HUD?
No, you have to use a HUD registered real estate agent. HUD employees do not work with buyers. I am a HUD registered bidding agent with an excellent track record and can guide you through the whole process!

Do I simply make an offer to purchase a home?
HUD owned properties are sold using an internet bidding process. ONLY HUD REGISTERED AGENTS like myself CAN BID. New listings are published on Fridays and offered for owner-occupants only during the first 10 days, which means the priority bidding deadline falls on a Sunday.

HUD will review all the offers received and if at least one of the offers is “good enough” then HUD will publish the amount of the winning bid and the name of the brokerage company online. It is your agent’s responsibility to check the website Monday morning to see if your bid was the winning bid!

Once a bid has been accepted, you have 48 hrs to submit your contract and all other paperwork to HUD. More on that to follow …

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

Technorati Tags: buy a HUD Listing, Columbus HUD Home, Columbus HUD Realtor, HUD repo, hudhomes, NHMSI, ohio HUD property

It seems we are getting back to normal HUD home listing levels. HUD added 24 new Columbus houses this week. Quite a few of the new HUD listings are in the suburbs.
 
We will feature some of these Columbus HUD homes in the next few days, so you can take full advantage of the Memorial Day Weekend.
 
You will notice that due to the holiday, the bidding deadlines have shifted by one day. Owner occupants have until Monday midnight to submit their offers on last week’s listings.
 
The $224,000 HUD home at 5226 Willow Valley Way in Powell is back on the market. This is the home where HUD accepted a $170K purchase offer. They are probably open to low bids again. Owner occupants can submit an offer before Tuesday midnight.
 
We had a lot of interest in this home – so if you want to check it out, give me a call today!

Listing Statistics

Total homes available: 72 (last week: 52)

Owner occupants: 52
All bidders: 20
New listings: 24
Price reduced: 28
 
Median Price: $62,000 (last week: $59,700)
Average Price: $73,343 (last week: $67,760)
Highest Price: $224,000
Lowest Price: $10,000
 
Homes less than $50,001: 28 (last week: 21)
Between $50,001 & $100,000: 24 (last week: 19)
More than $100,000: 20 (last week: 12)
 
I don’t have any travel plans!
Call me TODAY at 975-9650 to schedule showings for this 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, HUD Home, HUD listing, statistics

This is also true for bidding on a Columbus HUD home. Sometimes you will get a 2nd chance, even if you missed out on your original bid. Here’s how:

Say your realtor submitted an online offer on one of the Columbus houses listed by NHMSI, and you end up the winning bidder. Until the Contract Package is received, reviewed, and ratified, there is no “Contract Pending” and the property is not “Sold.” Remember, HUD requires original documents to be received within 48 hrs after announcing the winning bidder.

Any late or incomplete Contract Package may be rejected and the back-up bidder gets an opportunity to produce an accurate and complete Contract Package. Or, the property may be placed back on the website for other bidders to make offers. NHMS follows HUD directives regarding the sales of all HUD homes. They try to always act in HUD’s best interests.

Can anybody get this Second Chance?  Yes, as long as your Columbus realtor indicates on the bidding screen that you want to be considered as a “back-up” in the event the highest bidder cannot perform.

When do I know? Back-up bids are only valid for 48 hrs and not binding, meaning that you don’t have to accept the offer, if you are no longer interested in the property, or if you have found something else in the meantime.

How do I find out if I got a 2nd chance? Your Columbus realtor will receive a fax from NHMS if your bid is considered for a back-up. There are usually no phone calls or emails. NHMS will give you 24 hrs to make up your mind and decide if you want to accept or decline the back-up offer.

What happens if I decline the back-up offer? By now 48 hrs have passed, so no other back-up bids are valid any longer, and the property will be re-listed for sale at a later time.

What do I do if I want to accept the back-up offer? Your realtor has to sign the form he/she received from NHMS and fax it back within the 24 hr time period. Then the same rules apply, as always: NHMS has to receive an accurate and complete contract package within 48 hrs.  Your Columbus realtor has to indicate on the paper contract again that you want to be considered as a back-up bidder (line 10 on form HUD-9548). 

Wait 3-10 days for a ratified (accepted and signed) contract from HUD and pat yourself on the back. Congratulations, you are the winner now!

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: bidding, Columbus Houses, Columbus HUD Homes, Columbus Realtors, contract, hud listings, second chance

HUD listings hit a record low this week. Only 52 Columbus HUD homes are currently available for sale. HUD added only 8 new homes to the list today.
 
One of the new Columbus houses caught my attention this morning. It’s listed at 1023 Bernard Rd, Columbus, 43221, near Riverside Hospital and OSU. The asking price is only $45,000. 

Don’t drop everything and rush to this house! This deal was just too good to be true!
 
Unfortunately, the person listing this HUD home committed a couple of typos. Instead of Bernard the street name should be Bernhard. The zip code is wrong, too. It should be 43227.

I could not resist, I had to take a closer look. So we went out, found the correct HUD house, and took pictures. 
 
Click on the picture below to see where exactly it is located. I bet that most potential buyers won’t even find it – except if they read my emails!
 
You’ve got a definite advantage on this one!
 
Here it is:
The Mystery House – correct address:
1023 BERNHARD RD, Columbus, OH
List Price: $45,000 (sold for $138K in March 2007)

 


Looks like a really nice house, but it’s not anywhere near Upper Arlington.
 
Among the relists is a Columbus HUD home we featured in January on 158 Lofton Circle in Delaware. It already went through 2 price reductions. It is now listed for $116,000 that’s $30K less than the original price.

Listing Statistics

Total homes available: 52 (last week: 75)

Owner occupants: 33
All bidders: 19
New listings: 8
Price reduced: 25
 
Median Price: $59,700 (last week: $62,000)
Average Price: $67,760 (last week: $70,935)
Highest Price: $160,000
Lowest Price: $12,000
 
Homes less than $50,001: 21 (last week: 25)
Between $50,001 & $100,000: 19 (last week: 30)
More than $100,000: 12 (last week: 20)
 
You will find many newer suburban HUD homes priced just around $100,000. These are great opportunities for owner occupants! 
 
Call me TODAY at 975-9650, and let’s look at Columbus houses over the 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, HUD listing, mystery home, statistics, suburban

Here are two Columbus HUD Homes at opposite sides of the City. One is on the west side in Hilliard, the other one is east of the city in Pataskala.

Both are relatively new homes, located in great suburban school districts. These Columbus houses offer great values for first time buyers and families with kids. Each of these HUD homes is priced well below market value.

Let’s take a closer look:

3084 SERPENTINE DR, Hilliard, OH

HUD OWNED 4 BR in Hilliard
OFFERED for $155,000
CASE NUMBER 413-466064
BID DEADLINE: 5/17/09 for Owner Occupants

4 bedrooms, 2.5 bathrooms, 1688 sqft

127 CRABAPPLE LN, Pataskala, OH

HUD OWNED Pataskala home
OFFERED for $119,000
CASE NUMBER 413-428766
BID DEADLINE: 5/24/09 for Owner Occupants

3 bedrooms, 2.5 bathrooms, 1408 sqft

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, Hilliard, Pataskala, suburban schools

This weekend 21 Columbus HUD Homes went in contract. This leaves us with only 54 listings, 24 of which have a bidding dealine for owner occupants Tuesday at midnight.

I picked 2 new HUD Home listings in suburbs east of Columbus. They are priced around $110K. Each of these Columbus houses is just a few years old and a great value for owner occupants.  
 
This will be a great week for house hunting! So get ready and plan to bid on one of these Columbus HUD homes. Most likely they will be in contract within the first 10 days. 

3169 Arborsye Court, Reynoldsburg, OH
List Price: $111,000

7740 Rippingale Drive, Blacklick, OH
List Price: $118,000

Previously featured HUD homes are still available for you to see at the following website: http://columbushudhomes.postlets.com
 
Call me at (614) 975-9650! 

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: Blacklick, Columbus Houses, Columbus HUD Homes, Columbus Realtors, hud listings, Reynoldsburg

This is bad news for investors – only 13 Columbus HUD home listings are open to all bidders. The other 62 Columbus houses on today’s map are reserved for owner occupants.  

We see many price reductions and relists this week. HUD added 15 new properties to the list. There are some very nice deals in the suburbs. Most notably there are four newer, suburban HUD homes in Delaware.  

The most expensive home of the past couple of weeks is in contract, too. We featured the home on 5226 Willow Valley Way in Powell a few weeks ago. It was listed for $224,000. HUD accepted a purchase offer of $170,000 within 2 weeks of the listing. That’s a 25% discount!

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Listing Statistics

Total homes available: 75 (last week: 83)
Owner occupants: 62
All bidders: 13
New listings: 15
Price reduced: 47  

Median Price: $62,000 (last week: $65,000)
Average Price: $70,935 (last week: $73,694)

Highest Price: $168,000
Lowest Price: $4,500
Homes less than $50,001: 25 (last week: 24)
Between $50,001 & $100,000: 30 (last week: 40)
More than $100,000: 20 (last week: 19)

You will find many newer suburban homes priced just around $100,000. These Columbus houses are great opportunities for owner occupants!   

Call me TODAY at 975-9650, and let’s look at them over the 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: bidding statistics, Columbus Houses, Columbus HUD Homes, Columbus Realtors

This week I picked three suburban Columbus HUD Homes for you. These Columbus houses seem very affordable. Two of the HUD Homes are offered for around $100K in Grove City and Canal Winchester. The third listing, in the New Albany area, is a terrific value for this fast growing suburb.  
 
There is still time for house hunting today! Drive by some of these Columbus houses and see if you like the neighborhood. Then give me a call so we can look at the inside together. 
 
2584 Willow Park Road, Grove City, OH
List Price: $105,000

3829 Sugarbark Drive, Canal Winchester, OH
List Price: $95,000

5555 Connorwill Drive, Westerville, OH
List Price: $168,000

 
Previously featured Columbus HUD homes are still available for you to see at the following website: http://columbushudhomes.postlets.com
 
Let’s check them out!  Call me at (614) 975-9650!   
 

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: Canal Winchester, Columbus Houses, Columbus HUD Homes, Columbus Realtors, Grove City, New Albany, Westerville