Columbus HUD Homes

Columbus HUD homes are available in excellent school districts all over Central Ohio. Today’s previews include HUD homes in New Albany, Worthington, Bexley and Pataskala.

The first 3 homes are listed for only $112K each, while the other 2 come at a price tag of around $210K.

Why is there a $100,000 price difference? As they say in real estate: location, location, location…

3061 Kola Way, Columbus, OH
3BR/2.5BA 1,349 sqft Asking $112,000 Near Easton

605 Keltonhurst Dr, Pataskala, OH
3BR/2.5 BA 1,132 sqft Asking $112,000

1062 Grandon Ave, Bexley, OH
2BR/1.0BA 1,125 sqft Asking $111,500

6989 Bucktrout Pl, Worthington, OH
4BR/2.0BA 1,708 sqft Asking $215,000

5909 Blaverly Dr, New Albany, OH
3BR/2.5BA 2,091 sqft Asking $210,000

Call me at (614) 975-9650. Offers are due on Sunday May 2, 2010!

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

We are in the middle of April, just past tax day, and 3 important deadlines are approaching for Columbus HUD homes buyers. Here they are in the order of importance:

1. The deadline for the home buyer tax credits is April 30, 2010. You must have a binding contract by that date. If you bid on HUD homes, the contract must be ratified by HUD. This time there won’t be a last minute effort by Congress to extend it.
2. You should submit your offers on HUD houses by this Wednesday (April 21, 2010) to have your HUD contract ratified by Friday, April 30, 2010. This is my best guess and no guarantee! Based on my experience it will take more than 5 business days to get the contract ratified by HUD.
3. Owner occupants need to submit their offer for the Upper Arlington HUD house and the (near) Reynoldsburg duplex today. Both properties were featured last week and are unique opportunities for home buyers.

Here are the previews of today: three in the southwest, 2 in Blacklick and the Bexley HUD house. You can learn more about this special HUD home and the Bexley area at OhioPrettyHomes.com .

893 Military Dr, Galloway, OH
4BR/2.5BA 1,915 sqft Asking $150,000

2558 Harborridge Ct, Galloway, OH
3BR/2.5 BA 1,742 sqft Asking $120,000

4378 Knoll Crest Dr, Grove City, OH
4BR/2.5BA 2,196 sqft Asking $105,000

173 N Ardmore Rd, Bexley, OH
4BR/2.5BA 1,939 sqft Asking $218,000

438 Lamesa Dr, Blacklick, OH
3BR/2.0BA 1,212 sqft Asking $105,000

8246 Creekstone Ln, Blacklick, OH
4BR/2.5BA 2,012 sqft Asking $160,000

Call me at (614) 975-9650 and don’t miss today’s bid 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

Are multi-family properties reserved for investors or can you buy them as owner occupant?

Some of you may ponder this question, as you consider the benefits of owning a 2 or 4 unit HUD house.

The simple answer is: yes you can, as long as you move into one of the units. It gets even better. You can use regular FHA loans to finance the purchase and you may even qualify for the home buyer tax credit. You will get the tax credit only for the part of the home you occupy. In the case of a 2 unit, only half of the purchase price would count for the tax credit – you can get 10% of that amount.

We explained the benefits of owning a 4 unit property a year ago, when a cheap, brick four-plex came on the market. As the owner you can rent out the units you don’t occupy and create rental income to offset all or part of your monthly mortgage payments.

On Friday I mentioned the duplex on Saranac Drive near Reynoldsburg. I could not resist and added it to our weekly previews.

I was pleasantly surprised by the quality of this HUD property. Each side comes with 2 bedrooms and 2 full bathrooms, a 2 car garage and a full basement. So there is plenty of room. And the best part of the deal – there are tennis courts right across the street.

So let me summarize why the duplex on Saranac Drive is a great deal:

• newer house with plenty of space, garages, basements
• good condition, almost ready to move in
• rental income from 2nd unit pays your mortgage
• tennis courts across the street
• asking price is $70K less than previous sale
• no competition, if you bid as owner occupant

What’s holding you back?

5868-5870 Saranac Dr, Columbus, OH
4BR/4.0BA 2,744 sqft Asking $140,000

3089 Bembridge Road, Upper Arlington, OH
3BR/2.5 BA 1,623 sqft Asking $175,000

1866 Winding Hollow Dr, Grove City, OH
4BR/2.5BA 1,652 sqft Asking $128,000

5091 Maple Valley Dr, Columbus, OH
4BR/2.5BA 1,894 sqft Asking $101,000

1655 Evinrude Ave, Columbus, OH
3BR/2.5BA 1,440 sqft Asking $113,000

Call me at (614) 975-9650 and learn more about how you can save money buying a multi-family HUD home!

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 you are enjoying this beautiful Easter Weekend with your family!

I was out and about on Friday and picked the 6 Columbus HUD homes you can see on this page. They are in various suburban school districts. I am sure one of these Columbus houses is right for you!

Over the past few weeks I noticed that HUD really favors owner occupants. Owner occupants get lower offers accepted than investors. Contracts below 75% of list price were approved, if there’s no competition, i.e. only one bid.

Investor bids on Columbus HUD homes, on the other hand, may get turned down at 80% of list price. As an investor buyer, you have to be very patient. Hang in there and wait for the next price reduction. If HUD can’t find an owner occupant buyer, they may ultimately accept your offer.

As always – there are no guarantees!

Enjoy my six featured Columbus HUD homes for this Easter Weekend:

3809 Williams Nook, Grove City, OH
3BR/2.5BA 2,282 sqft Asking $148,000

4684 Michael Pl, Grove City, OH
4BR/2.5 BA 2,318 sqft Asking $165,000

8620 Robbins Loop Dr, Reynoldsburg, OH
3BR/2.5BA 1,838 sqft Asking $137,000

1777 Gardenstone Dr, Columbus, OH
3BR/2.0BA 1,274 sqft Asking $126,000

803 Cedar Run Dr, Blacklick, OH
3BR/2.5BA 1,892 sqft Asking $165,000

744 Solaris Ct, Blacklick, OH
3BR/2.0BA 1,140 sqft Asking $112,000

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

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

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

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

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

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

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