Columbus HUD Homes

All Columbus HUD homes we featured a week ago are now in contract. Most of the offers were below HUD’s asking price. Here are the details:

171 Beeson Ct, Galloway, OH
3BR/2.5BA 1,272 sqft Asking $110,000
Offer accepted on 3/29/10 for $108,500 – 1.5% below

1224 Riegelwood Ln, Columbus, OH
3BR/2.5 BA 2,072 sqft Asking $120,000
Offer accepted on 3/29/10 for $105,000 – 12.5% below

759 Lilly Landing Ln, Blacklick, OH
3BR/2.5BA 1,966 sqft Asking $138,000
Offer accepted on 3/29/10 for $129,001 – 6.5% below

3331 Crossing Hill Way, Columbus, OH
4BR/2.5BA 1,920 sqft Asking $122,000
Offer accepted on 3/29/10 for $125,000 – 2.5% above

2763 Northwold Rd, Columbus, OH
3BR/2.5BA 1,369 sqft Asking $105,000
Offer accepted on 3/29/10 for $106,500 – 1.5% above

April promises to become a busy month. Many home buyers are in a hurry to write a contract before the home buyer tax credit expires at the end of April. So far, I did not see any serious attempts from Congress to extend the tax credit again. So, don’t delay, if you are in the market for a home, before the spring buying season gets into full swing.

Today we published our weekly bargain hunters list, where we show HUD homes that are available to all bidders. We pay special attention to last Friday’s relists. If they are still available after the 5 day exclusive period for owner occupants, you have an excellent chance of getting a low offer accepted. We call them the boomerang homes, because they keep coming back (were relisted.)

The boomerang homes on today’s bargain hunters list are dominated by 3 Canal Winchester HUD houses listed between $65K and $80K. Before you get too excited about the low asking prices, you have to understand that all of them are in the Columbus City School District. If school district is not important for you, they are excellent deals – they are just a couple of years old.

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

This weekend I decided to travel to the far East Side of the Columbus metro area and pick out a few exciting HUD homes for you. This endeavor was almost canceled due to the early morning snow. You can still see some of it in the pictures.

Thank God it melted before I got on the road.

Our featured HUD homes include the most expensive HUD house I saw in Columbus. It’s located in Pataskala, comes with a 3 car garage and more than 3,000 sqft of living space. And it is listed for only $195,000, that’s $62 a square foot.

Let’s head right to the featured HUD homes:

1127 Welwyn Dr, Westerville, OH
2BR/2.5BA 1,516 sqft Asking $137,000

344 Masonglen Ct, Pataskala, OH
4BR/2.5 BA 1,978 sqft Asking $140,000

7894 Brianna Dr, Blacklick, OH
3BR/2.5BA 1,383 sqft Asking $130,000

395 Alonzo Palmer St, Pataskala, OH
4BR/2.5BA 3,114 sqft Asking $195,000

3000 Blackbird Ct, Columbus, OH
4BR/2.5BA 2,150 sqft Asking $138,000

Give me a call at (614) 975-9650 – I’d like to help you find the best home for your family.

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 latest Columbus HUD homes map is pretty “green”.  Green markers identify those Columbus houses that are available to all bidders and investors. There’s a total of 81 HUD homes investors can bid on.

However, there are also 38 new HUD listings and an additional 36 with a bid deadline on Sunday (today) at midnight.

If you are not on our mailing list, you are missing out on the best way to find Columbus HUD homes right on a Google map. Enter your email in the box to the right or click on the blue button at the end of this post. We hate spam and will not share your email and personal information with anyone!

Listing Statistics

Total homes available: 175 (last week: 207)

Owner occupants: 94
All bidders: 81
New listings: 38
Sunday deadline: 36
Relisted/Price reduced: 20

Median Price: $80,000 (last week: $80,000)
Average Price: $80,611 (last week: $81,958)
Highest: $195,000
Lowest: $7,500

Homes less than $50,001: 49 (last week: 55)
Between $50,001 & $100,000: 66 (last week: 82)
More than $100,000: 60 (last week: 70)

Despite the Friday morning snow, the spring buying season has started!

Call me for showings at 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

Here’s a quick follow-up on the Grove City HUD home at 3418 Grant Ave that was listed for $40,000.

Was it the deal of the year?

As expected, this HUD house went in contract yesterday. The successful bidder offered $82,755, more than double the list price. But it is still a great deal at approximately $50K less than market value.

We noticed that HUD has become more flexible. Recently, they accepted much lower offers than just a few months ago, especially, if there was only one bidder.

Owner occupants seem to get even better discounts than investors. This is understandable, because the HUD program is supposed to promote home ownership.

Unfortunately, I can’t publish the exact numbers, however, they are available to all my customers before we submit an offer!

Today we also reached the one hundred mark: exactly 100 Columbus HUD homes are available to all bidders. Only 16 are boomerang homes that were relisted last Friday. These are the HUD houses where you have the best change to get a low-ball offer accepted.

The double on 2230-32 Pinion Pl in Reynoldsburg is still available. It is currently listed for $130,000. Why not try an offer in the mid $90’s?

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 mentioned the Grove City HUD house at 3418 Grant Ave a week ago. This may be the deal of the year. Its list price of $40,000 is basically $100K less than comparable Columbus houses in that area.

The Franklin County Auditor lists the property value as $145,600. If you go to Zillow and pull their Zestimate it comes in at $137,500. This house sold in 2004 for $145,900 and went into contract 9 days after it was listed. Current comps (MLS) are $138,000.

So, why would the HUD appraiser come up with such a low number? I believe the explanation is very simple. Whoever entered that information in the computer missed a “1″. This could be quite an expensive typo!

Typos like this one happen occasionally. Most of the time I can easily find them and notify the customers who are looking for a house in that area. What will happen with this HUD listing, however, is that more people will see that it is priced too low. I bet that the competitive nature of an auction will push the final sales price closer to its fair value. We will possibly know by tomorrow!

Here are the 5 HUD homes I previewed this week!

171 Beeson Ct, Galloway, OH
3BR/2.5BA 1,272 sqft Asking $110,000

1224 Riegelwood Ln, Columbus, OH
3BR/2.5 BA 2,072 sqft Asking $120,000

759 Lilly Landing Ln, Blacklick, OH
3BR/2.5BA 1,966 sqft Asking $138,000

3331 Crossing Hill Way, Columbus, OH
4BR/2.5BA 1,920 sqft Asking $122,000

2763 Northwold Rd, Columbus, OH
3BR/2.5BA 1,369 sqft Asking $105,000

Give me a call at (614) 975-9650 – I’d like to help you find the best home for your family.

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 loss of concessions for owner occupants takes its toll. While the total number of Columbus HUD homes stayed above 200, the percentage of homes available to all bidders has increased significantly.
 
This week we see 50% more HUD listings available to investors than a week ago. That’s a total of 75 Columbus houses that were not picked up by owner occupants.
 
Let me just highlight a couple of the homes you can find on today’s Columbus HUD homes map.

 
There’s a new listing at 6672 Millbrae Road in Worthington, just South of Snouffer. It’s in a great location, but it seems to have mold and is listed as uninsured.

 
The other one you may want to consider, maybe as an investor, if nobody buys it in the next 5 days, is a double on 2230-32 Pinion Pl in Reynoldsburg. This one’s a relist. It is also uninsured.

You can buy a 2 unit property as an owner occupant, as long as you move into one of the units. In this way you will not compete with investors and you can submit your offer before all others are allowed to bid. There’s probably much less competition. You will also qualify for the home buyer tax credit – at least for the portion of the property you occupy (50% in the case of a double).   

Listing Statistics

Total homes available: 207 (last week: 215)

Owner occupants: 132
All bidders: 75
New listings: 36
Sunday deadline: 71
Relisted/Price reduced: 25
 
Median Price: $80,000 (last week: $83,000)
Average Price: $81,958 (last week: $85,174)
Highest: $191,000
Lowest: $7,500
 
Homes less than $50,001: 55 (last week: 49)
Between $50,001 & $100,000: 82 (last week: 88)
More than $100,000: 70 (last week: 78)

Call me TODAY at 975-9650!

Sunday is the deadline for 71 HUD homes reserved 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

This is a pretty large list of Columbus HUD homes – 92 HUD homes are available to all bidders.  And 22 boomerang HUD homes that were relisted last Friday did not get picked up by owner occupants. Now everyone gets a chance to bid.
 
Two of the boomerang HUD homes are in Westerville. We featured the one on 4319 Valley Quail Blvd way back in December 2009. It has been in contract two times before.

Do you want to know what HUD accepted previously? Would you like to find out why this house did not sell? Go to the property website to find out.

We also keep bidding statistics of all other HUD homes. When a property falls out of contract and gets relisted, my customers will know what HUD accepted previously. If you don’t want to submit your bid blindly and overpay for a HUD house, then give me a call. Obviously, this information is exclusively available for my customers.
 
Now let’s see what happened to the homes I previewed a week ago. Four out of the six Columbus houses I featured are now in contract.  Below are the offers that were accepted by HUD:

6528 Pasque Ct, Westerville, OH
LISTED FOR: $115,000
Offer accepted on 03/15/10 for $100,000

93 Leland Ave, Columbus, OH
LISTED FOR: $115,000
Offer accepted on 03/15/10 for $120,000

1037 Beaujolais Pl, Galloway, OH
LISTED FOR: $128,000
Offer accepted on 03/15/10 for $122,515

4847 Allwood Ct, Columbus, OH
LISTED FOR: $138,000
Offer accepted on 03/15/10 for $120,449

Let’s go house hunting – this promises to be a nice and sunny spring week!

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

Clintonville is one of the most desirable areas in the City of Columbus. Located just north of the Ohio State University Campus it boasts well kept, older homes as well as huge mansions. Property values have been very stable in the $150K to $250K range for a typical, average size homes, despite the recession.

Recently, a few HUD homes popped up in Clintonville. Last week we featured the house on 93 Leland Ave priced at $115,000. The bid deadline for owner occupants is tonight! This week I previewed a house on Weber Road.

Be careful when you submit an offer on these Columbus HUD homes. The location may be tempting, but both of them are small with only 1,000 sqft each. HUD appraised them at the very high end of the market considering their size, condition and location (they are not exactly in the center of Clintonville).

Call me before you consider submitting and offer on these Columbus houses, and let’s take a closer look at their condition as well as comparable sales.

Check out the 5 HUD homes I picked for you this week!

544 E. Weber Rd, Columbus, OH
2BR/1.0BA 1,068 sqft Asking $148,000

1671 Morrison Farms Dr, Blacklick, OH
4BR/2.5 BA 2,469 sqft Asking $165,000

478 Wooster St, Pickerington, OH
4BR/2.5BA 1,971 sqft Asking $152,000

326 Olgelbay Dr, Westerville, OH
3BR/2.5BA 2,278 sqft Asking $191,000

3127 Berkley Pointe Dr, Columbus, OH
3BR/2.0BA 1,351 sqft Asking $125,000

Give me a call at (614) 975-9650 – the choice of HUD homes has never been better.

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

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