Columbus HUD Homes

Remember last week’s article on year end bargains? I issued a DEAL ALERT and recommended you take advantage of the slowdown of the real estate market during the winter months.
 
Well, some of my customers have already benefited from this advice. Recently, we got offers on Columbus HUD homes accepted at 20%, even 30% below list price. These Columbus houses are not junkers, but really nice suburban homes that just need a little bit of work.
 
In early January you can get these discounts even during the initial 10 day listing period, not only when properties are relisted or fall out of contract. Do not hesitate with your offers! Once the market picks up, these tremendous discounts will be gone.
 
Today’s bargain hunter list offers terrific opportunities for all bidders. A total of 40 houses are available, only 7 are boomerang homes relisted on Dec. 25. Most of our featured homes are now in contract. Below you can see what HUD accepted for offers.

It is amazing that the house on 156 Mohican Ln in Pataskala is still available. It is listed for $175,000. Right now HUD may entertain an offer in the mid $130’s. Call me and let’s try it!

NOTE Dec 31, 2009: The day after I wrote this post Mohican went in contract for $132,000. Just shows you that experience matters when you write an offer on a HUD home. So, call me before you even consider buying a HUD home. You may waste a lot of money, if you hire an inexperienced agent.

Here are the bid results of the other featured homes from a week ago.

3232 Legion Ln, Columbus, OH
LISTED FOR: $95,000
Offer accepted on 12/14/09 for $68,900 with a net to HUD of $64,225. 
28.5% below list price
Fell through! RELIST!

328 Masonglen Ct, Pataskala, OH
LISTED FOR: $148,000
Offer accepted on 12/28/09 for $156,500 with a net to HUD of $151,000.
5.7% above list price

1561 Roscommon Dr, Pataskala, OH
LISTED FOR: $144,500
Offer accepted on 12/28/09 for $112,000 with a net to HUD of $106,975.
22.5% below list price

1472 Galway Bend S, Pataskala, OH
LISTED FOR: $149,000
Offer accepted on 12/29/09 for $113,710 with a net to HUD of $108,685.
23.7% below list price

Call me at (614) 975-9650.  I can give you a very good idea of what HUD will most likely accept!

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

For this Christmas week I selected 5 special HUD homes for you. They are in Hilliard, Gahanna, Westerville Schools and Columbus. If you are looking for a bargain, these Columbus houses are for you.

They are all priced at or below $75,000. These houses may be smaller than some of the new, suburban homes we featured in recent weeks. However, they are listed significantly below the market values in these areas. In retail condition each of these homes will be worth between $100,000 and $130,000. Now you can buy them for less than 70% of market value.

You already know that January is the best time of the year to buy Columbus HUD homes at rock bottom prices. Here’s your chance! Pick one of them and give me a call, so we can write an offer.

These 5 featured HUD Homes are excellent values offered with substantial discounts!

876 Fortunegate Dr, Westerville, OH
2BR/1.5BA 1,044 sqft Asking $73,000

8750 Hubbard Dr S., Galloway, OH
3BR/1.5 BA 1,372 sqft Asking $70,000

5113 Ilo Dr, Columbus, OH
3BR/2.0BA 1,467 sqft Asking $75,000

382 Marquis Ct, Columbus, OH
3BR/1.5BA 1,437 sqft Asking $72,000 Gahanna Schools

1491 Urban Dr, Columbus, OH
3BR/2.0BA 1,176 sqft Asking $62,600

Call me today at (614) 975-9650 – This is the best time of the year to make an offer!

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

I hope your Christmas Holidays were peaceful and you could enjoy time with your family. My husband and I celebrated Christmas with our 3 sons who are home from college. We had a delicious dinner and lots of home made Christmas cookies. Since all of my family lives in Europe, we missed out on the big get together with relatives.
 
I was quite surprised to see that HUD updated the listings yesterday. They added 15 new Columbus houses to their inventory. I already selected 5 of the new Columbus HUD homes and I will preview them for you this weekend. 
 
Can you believe that today we published the final HUD homes map of 2009? Next Friday is the first day of a new decade. Of course, we will continue to bring you the most up-to-date HUD homes information in Ohio and help you navigate the labyrinth of buying a HUD or any other home.

Listing Statistics

Total homes available: 81 (last week: 94)

Owner occupants: 46
All bidders: 35
New listings: 15
Sunday deadline: 15
Relisted/Price reduced: 16
 
Median Price: $72,000 (last week: $76,250)
Average Price: $73,043 (last week: $81,443)
Highest: $192,000
Lowest: $11,000
 
Homes less than $50,001: 24 (last week: 24)
Between $50,001 & $100,000: 40 (last week: 41)
More than $100,000: 17 (last week: 29)
 
Call me TODAY at 975-9650 to see the newest HUD 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

While most people are busy buying Christmas presents and preparing for the holidays, HUD is struggling with a problem: How to get rid of the large number of HUD homes they listed in December?

You probably read last Friday’s blog post about HUD flooding the market with new listings. More than 100 Columbus HUD homes are available for sale. Most of these homes are relatively new and in good condition – a perfect fit for owner occupants. However, this time of the year most prospective buyers have other priorities or simply hold off to see what the new year brings.

A smaller number of buyers means less competition, which results in lower prices. The only way HUD can sell their properties in December and January is by accepting lower purchase offers. Let me show you 2 examples to prove this point.

Earlier this week HUD accepted offers on 2 Columbus houses that were much below the values they would have accepted earlier this year. The house on 760 Range Drive in Galloway was listed for $145,000, but sold for only $116,000, that’s a 20% discount. Another suburban HUD home at 1236 Preeman Street in Blacklick sold for $105,001 down from a list price of $139,000 – that’s a 25% discount.

Do you see the pattern? You can get 20% to 25% off the list price, even during the initial 10 day listing period. These homes were not relists or boomerangs, just regular HUD listings purchased by owner occupants.

Some great looking homes are still available and on a daily bid deadline. Call me and I’ll give you my best bet of how low HUD might be willing to go!

5083 Crockett Dr, Hilliard OH 43026    
Hilliard Schools  List Price: $120,000

5561 Mesa Falls St #3, Dublin OH 43016
Columbus Schools List Price: $132,000
You can see my 18 pictures at: http://www.postlets.com/rem/3132660

7143 Emerald Tree Dr, Canal Winchester OH 43110    
Canal Winchester Schools List Price: $127,000

For a comprehensive list of deals available to investors, call me at (614) 975-9650 or, if you are a subscriber, check your inbox for today’s Bargain Hunters List.

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

Pataskala may appear like a small town in the country 30 miles east of Columbus. You should definitely take a look at the great HUD homes we previewed for you there, especially, if you like the east side of the Columbus metro area.

There are many benefits of buying a HUD home in Pataskala. Here are 5 reasons why you should consider moving to Pataskala:

1. This little town is well connected to Columbus via I-70 East, Main Street and National Road (Broad Street). It just takes 10 minutes to get to Pataskala from I-270 on the East side of Columbus.
2. There are many new subdivisions with huge residences – just take a look at our featured homes below. And they are very affordable for the size house you can buy.
3. Some of these subdivisions have a Pataskala address, but are actually very close to Blacklick and Reynoldsburg.
4. Pataskala is served by the Licking Heights and Southwest Licking School Districts, which are rated among the best in Central Ohio.
5. Most of Pataskala is in Licking County, therefore, you purchase will most likely qualify for USDA (Dept of Agriculture) financing. These are government backed loans that do not require any downpayment.

These 4 featured Pataskala HUD Homes offer suburban living at a discount price!

156 Mohican Ln, Pataskala, OH
3BR/2.5BA 3,688 sqft Asking $175,000

328 Masonglen Ct, Pataskala, OH
3BR/2.5 BA 2,415 sqft Asking $148,000

1561 Roscommon Dr, Pataskala, OH
3BR/2.5BA 1,680 sqft Asking $144,500

1472 Galway Bend S, Pataskala, OH
3BR/2.5BA 2,207 sqft Asking $139,000

Call me today at (614) 975-9650 – This is the best time of the year to make an offer!

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

The HUD homes map turned “green” this week. But it does not have anything to do with the climate conference in Copenhagen nor “Green” energy.
 
It has everything to do with the green markers that indicate the 33 HUD homes that are open to all bidders. We did not have that many homes for investors since March.

If you don’t know what I am talking about you probably do not subscribe to our weekly HUD homes map. Don’t be left out! Simply enter your email in the box to the right of this article or click on the blue button at the end of this post and join our list!
 
It’s a fact that owner occupants buy fewer homes during the winter months. There are many opportunities for real estate investors.
 
Here’s a perfect example: a huge, 3 bedroom per side duplex on 1661-1663 South 4th Street just go relisted – for only $11,000. It is located on the southern tip of Merion Village, a very desirable neighborhood south of downtown.
 
Now is the time to buy and make low offers. We saw really nice, suburban homes go for 70% of appraised value!
 
Many of this week’s new listings are in Pataskala. We will feature a few of these huge residences for you on Sunday.   

Listing Statistics

Total homes available: 94 (last week: 107)

Owner occupants: 61
All bidders: 33
New listings: 15
Sunday deadline: 31
Relisted/Price reduced: 15
 
Median Price: $76,250 (last week: $81,000)
Average Price: $81,443 (last week: $81,126)
Highest: $192,000
Lowest: $9,000
 
Homes less than $50,001: 24 (last week: 25)
Between $50,001 & $100,000: 41 (last week: 51)
More than $100,000: 29 (last week: 31)
 
Call me TODAY at 975-9650 to see the newest HUD Homes before the Holidays!

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

Once again, most of the “nice” suburban homes went into contract for asking price. Columbus HUD homes that need little or no work will sell for above list price. Perfect examples are the listings on 5485 Willoughby St in the Dublin area and 3825 Mount Hood Ct in the Westerville area. 

Let’s take a closer look at th e bidding results of our featured Columbus houses:

5720 Dorsey Dr, Columbus OH 43235
Offer accepted on 12/14/09 for $150,000 with a net to HUD of $143,500.
exactly at list price
 
5485 Willoughby St, Columbus OH 43235
Offer accepted on 12/14/09 for $138,000 with a net to HUD of $134,005.
6% above list price
 
3825 Mount Hood Ct, Columbus OH 43230
Offer accepted on 12/14/09 for $97,500 with a net to HUD of $91,650.
19% above list price
 
5400 Bullfinch Ct, Westerville OH 43081
Offer accepted on 12/14/09 for $146,000 with a net to HUD of $141,620.
6% below list price

Also in contract, but for a nice discount:

3232 Legion Ln, Columbus OH 43232
Offer accepted on 12/14/09 for $68,900 with a net to HUD of $64,225.
23.5% below list price

5828 Westbank Dr, Galloway OH 43119
Offer accepted on 12/14/09 for $94,250 with a net to HUD of $89,075.
27.5% below original list price
 
Still available since it needs a lot of work, has structural and mold problems: 
4319 Valley Quail Blvd S, Westerville OH 43081
 
Today our subscribers received the bargain hunter list with 7 boomerang homes. Both Buckeye Lake homes (11917 Broad St, Millersport and 143 Elliott Dr, Buckeye Lake) are now available to all bidders. And so is the house on 1209 E. Long Street in Columbus, which is listed for only $18,000. I believe HUD is ready to accept lower offers on these deals.
 
On the high end there are listings at Woodwind Drive in Lewis Center (list price $170,00) and at 256 Pinecrest in Delaware (listed for $192,000). Both seem a little bit pricey. Buyers are probably waiting for a price reduction, which will happen, if nobody buys them within 30 days. Of course, you could also submit a lower offer now.

Call me and I’ll give you my best bet!

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

Did you ever wonder why many Columbus HUD homes are not very old? Most of our previews were built after the year 2000. We are talking about almost new homes that only one owner occupied before they were foreclosed on.

In the first half of this decade many builders made arrangements with FHA to underwrite their own loans. This made it easy for them to sell their newly built homes to buyers that could not otherwise afford a new home. Large portions of new subdivisions were financed by FHA backed loans. Some of the owners lost their home to foreclosure, and because FHA insured the loan, the house became a HUD home.

For the house hunters among you this is a wonderful situation. Now you can buy almost new Columbus houses for a fraction of the original cost. Many of these homes are in very good condition. Even if they need minor repairs, the expensive components such as furnace and A/C, windows, structure and kitchen are typically in good shape. Most of the time you will get away doing cosmetic repairs only, such as painting and cleaning the carpets, something many buyers do anyway after they close on their new home.

Today’s 5 featured Cumbus HUD Homes were built between 1996 and 2006 – take a look!

5561 Mesa Falls St, Dublin, OH
2BR/2.5BA 1,580 sqft Asking $132,000

760 Range Dr, Galloway, OH
3BR/2.5 BA 1,490 sqft Asking $145,000

815 Windy Hill Ln, Galloway, OH
3BR/2.5BA 1,248 sqft Asking $97,000

7669 Dover Ridge Dr, Blacklick, OH
3BR/2.5BA 2,207 sqft Asking $139,000

2917 Morality Dr, Columbus, OH
3BR/2.5BA 1,524 sqft Asking $130,000

Call me today at (614) 975-9650 – This is the best time of the year to make an offer!

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

HUD just flooded the Columbus market with 31 new listings, which increased the total number of Columbus HUD homes for owner occupants to 87.
 
This is good news, if you are in the market for Columbus houses. The selection has never been better in 2009 and there are quite few remarkable deals.
 
It’s hard to believe that a 3 year old Dublin condo hit the market today. It’s on Mesa Falls Street in the new Haydn Falls development. This condo is listed for $132,000. The original owner paid $154K in 2006.
 
If you received our most recent Columbus HUD homes map you will notice that the marker is not at the correct location on the map. Yep, it’s that new! It should be near the intersection of Haydn Run Rd and Leppert.

Two more thing you need to know about this condo. First, it has 3 levels and you need to use very steep stairways to get from one level to the next. Don’t consider this home, if you hate to climb stairs.

Despite its Dublin address, you should also know that it is in the Columbus School District. If you have kids and want to send them to suburban schools, you should look for another residence in the Dublin or Hilliard school districts.

Many of this week’s new HUD listings are clustered in Blacklick and Canal Winchester. Make sure to check out the weekly HUD homes map. 

Listing Statistics

Total homes available: 107 (last week: 102)

Owner occupants: 87
All bidders: 20
New listings: 31
Sunday deadline: 39
Relisted/Price reduced: 17
 
Median Price: $81,000 (last week: $80,500)
Average Price: $81,126 (last week: $78,691)
Highest: $192,000
Lowest: $9,000
 
Homes less than $50,001: 25 (last week: 25)
Between $50,001 & $100,000: 51 (last week: 52)
More than $100,000: 31 (last week: 25)
 
Call me TODAY at 975-9650 to see the newest HUD Homes 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

Another great week for HUD homes sales. If all Columbus houses would sell like HUD homes, there’d be in another real estate boom! Let me show you 3 deals to prove it.

The best HUD deal of this week – by far – was 6633 Cherry Bend in Canal Winchester.  This home was listed for $155,000 and came with stainless steel appliances.  Take a look at our pictures and you know that you missed a great deal. M/I is stilling selling new homes in the subdivision for $175K to $200K. The winning bidder got it for $130,000. Congratulations!

The second best deal was the sale of 4484 Parkwick Dr in southwest Columbus. This is a huge residence of 2,332 sqft. It’s the third time it went in contract – this time for only $83,750 down from a list price of $116,000. It sold for less than $36 per sqft!

The last deal I want to mention is a large Columbus home just south of the Minerva Lake Gold Club. The address is 4910 Allwood Dr. It sold for $80,000 down from a list price of $105,000.

Only 26 homes are available to all bidders today. However, I saw 2 boomerang homes you may find interesting.
 
The first one at 5828 Westbank Drive in Galloway was one of our featured homes. It may look like a small ranch from the front, but it has 2 levels in the back for a total of 1813 sqft. Not bad for a reduced list price of $117,000. Make an offer!
 
The second house is 1163 Onaway Ct in the Hilliard School District. It is available for only $125,000, which is a pretty good deal for the area. Of course, you can offer less – I believe you should get it for $105K.

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