Columbus HUD Homes

The number of Columbus HUD homes available to all bidders has reached a new high.

Is this bad for owner occupants?

Absolutely not! HUD actually prefers owner occupants. HUD’s objective is to increase home ownership. Since the peak of the housing boom the home ownership rate has steadily decreased in America. So HUD is failing in its mission.

If you are an owner occupant, do not hesitate to submit an offer on a HUD home, even if it is already available to investors. Your chances of winning the bid are excellent!

I have seen many situations where HUD accepted a lower bid by an owner occupant buyer over a higher cash offer from an investor.

Take a look at today’s HUD homes map. It is full of green markers – the locations of HUD homes available to everyone.

You can get your link to today’s HUD homes map by joining our email list. Click on the blue button at the end of this post or enter you email in the box to the right.

You won’t regret it!

Listing Statistics

Total homes available: 193 (last week: 185)

Owner occupants: 86
All bidders: 107
New listings: 26
Sunday deadline: 31
Relisted/Price reduced: 29

Median Price: $70,000 (last week: $70,000)
Average Price: $71,712 (last week: $72,608)
Highest: $188,000
Lowest: $7,000

Homes less than $50,001: 71 (last week: 64)
Between $50,001 & $100,000: 75 (last week: 76)
More than $100,000: 47 (last week: 45)

Call me at 975-9650!
I can fill you in on the best bidding strategy 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

You probably noticed that we ran a little slow over the past couple of weeks. Don’t worry! I am back in full swing with HUD home previews and maps.

As a matter of fact, we plan to offer an exciting new service this fall. You’ll be the first to hear about it. So, keep reading my posts!

Here are some interesting facts!

Last Friday, on August 20th, 44 properties were relisted by HUD. This number includes the price reductions. Eleven of the HUD homes sold to owner occupants during the past 5 days. The remaining 33 are on the top of the bargain hunter list – we call them boomerangs.

Can you believe that 27 out of the 33 homes were price reductions?

This spells opportunity for HUD home buyers. HUD is eager to get rid of these relisted properties. They had them on their books for at least 40 days, but probably much longer. Based on our statistics I can tell you that HUD will take significant discounts on these homes.

How much?

Call me to get an answer to this question. You will be surprised how low HUD will go!

Summary of Bargains

HUD Homes available to all bidders: 117 (last week: 105)
Boomerang homes (relists from Fri): 33 (last week: 32)

Bidding Results of Featured HUD Homes

Only 2 of my previously previewed homes went in contract recently.  Here are the results:

2957 Collier Hill Ct, Hilliard OH
4BR/2.5BA 2,366 sqft Asking $187,000
Offer accepted on 08/16/10 for $187,000 – exactly list price

953 Larkstone Dr, Columbus OH
3BR/2.0BA 1,714 sqft Asking $150,000
Offer accepted on 08/16/10 for $112,000 – 25% below list 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

Hilliard offers an incredible variety of HUD homes.

A couple of weeks ago we featured an upscale HUD house at 2957 Collier Hill Ct. This 2,300 sqft Hilliard HUD home sold earlier this week for its list price of $187,000.

Today we found another HUD listing in Hilliard at 4159 Grant Street for only $76,000. Granted this one’s a 3 bedroom ranch with hardly 1,000 sqft of living space, however, the school district and city services are the same.

If you prefer further North, you should check into 9060 Tabernash Drive in the Olentangy School District. This is a new HUD listing in Orange Township offered for $180,000.

Take a look at our HUD homes map. You will find new HUD listings and relists in most Columbus suburbs. To get weekly HUD homes maps you need to join to our email list. You can subscribe by clicking on the blue button at the end of this post or simply enter your email address in the orange box to the right of this article.

Listing Statistics

Total homes available: 185 (last week: 183)

Owner occupants: 99
All bidders: 86
New listings: 31
Sunday deadline: 24
Relisted/Price reduced: 44

Median Price: $70,000 (last week: $67,500)
Average Price: $72,608 (last week: $69,923)
Highest: $188,000
Lowest: $6,500

Homes less than $50,001: 64 (last week: 67)
Between $50,001 & $100,000: 76 (last week: 80)
More than $100,000: 45 (last week: 36)

Email me today to find a great home before school starts!

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 you prepared to put some sweat equity in your new HUD home?

Today I want to focus on a couple of relisted HUD homes that seem to be excellent deals. I am talking about 4 bedroom homes with more than 2000 sqft that are less than 10 years old and located in the suburbs.

I found these 2 relisted HUD homes in the Grove City area at Hennigan’s Grove Road and at Grandover Drive.

One of them is listed as “insured with repair escrow”, the other one is “uninsured”. This indicates that they probably fell out of contract due to repair requirements. The report indicates plumbing leaks, so there may be mold in the house. Most likely you will need to finance this purchase with an FHA 203K rehab loan.

Here’s the bright side.

Both of these Columbus houses are listed for less than $80K. As each features more than 2,300 sqft of living space, that’s around $30/sqft.

This is a quite a deal if you consider that the average Columbus home sells for $100 per sqft.

Take some time to review the property condition reports, which are posted on the listing website to get an indication of the repairs needed. If you feel confident that a rehab project is for you, give me a call and let’s submit an offer. I am sure you will get them for much less than asking price.

Listing Statistics

Total homes available: 183 (last week: 204)

Owner occupants: 97
All bidders: 86
New listings: 24
Sunday deadline: 46
Relisted/Price reduced: 27

Median Price: $67,500 (last week: $69,650)
Average Price: $69,923 (last week: $72,002)
Highest: $188,000
Lowest: $5,000

Homes less than $50,001: 67 (last week: 71)
Between $50,001 & $100,000: 80 (last week: 89)
More than $100,000: 36 (last week: 44)

Call me today at 975-9650, I can help you find a great deal!

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

One of the most expensive Columbus HUD homes went in contract on Monday.

Unlike other suburban HUD homes that sold for more than asking price in the past few weeks, this one went for far less. HUD accepted $150K for the house at Westwood Drive in Lewis Center.

This home was originally listed for $205,000, but HUD took a “haircut” of more than 25% in the first go-around.

The stunning HUD condo on Pyramid Drive in Dublin also sold for much less than asking price. HUD accepted $152,500 for this pristine home, which was listed for $172,000 just two weeks ago.

There are tremendous HUD deals available, both for owner occupants and investors. So don’t delay your home buying decisions and submit your offer now!

Summary of Bargains

HUD Homes available to all bidders: 105 (last week: 112)

Boomerang homes (relists from Fri): 32 (last week: 33)

Bid Results of Featured HUD Homes

5149 Pyramid Falls Dr, Dublin OH
3BR/2.5BA 2,420 sqft Asking $179,000
Offer accepted on 08/10/10 for $152,500 - 15% below list price

2081 Winding Hollow Dr, Grove City OH
4BR/2.5 BA 1,862 sqft Asking $120,000
Offer accepted on 08/10/10 for $110,110 – 8% below list price

1735 Westwood Dr, Lewis Center OH
4BR/2.5BA 2,226 sqft Asking $205,000
Offer accepted on 08/10/10 for $150,000 - 27% below list 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

What has changed from a week ago?

At first glance the numbers are almost the same. The total number of HUD homes on the market has not changed since last week.

NHMSI added 29 new HUD listings, which means that 29 homes went in contract during the past 7 days. 80 homes are available to investors.

A nice HUD house in Orange Township (Lewis Center) just came on the market. It’s listed for $205,000 and offers 4 bedrooms with more than 2,200 sqft of living space.

The other suburban HUD home I want to mention to you is on Pyramid Falls Drive in Dublin. This one’s a free standing condo. It was sold to its original owner for $215K. Now it is priced at $179K.

Details will follow on Sunday!

Listing Statistics

Total homes available: 178 (last week: 178)

Owner occupants: 98
All bidders: 80
New listings: 29
Sunday deadline: 26
Relisted/Price reduced: 43

Median Price: $72,000 (last week: $72,000)
Average Price: $72,746 (last week: $73,063)
Highest: $205,000
Lowest: $9,000

Homes less than $50,001: 56 (last week: 56)
Between $50,001 & $100,000: 80 (last week: 85)
More than $100,000: 42 (last week: 38)

Call me today 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

You can’t touch home values in Clintonville!

Do you remember the tiny Clintonville HUD home I featured a week ago? As expected, this cute little 2 bedroom, 1 bathroom house on Royal Forest Blvd went in contract to an owner occupant for $115,000. That’s $10,000 above list price.

The old rule still applies: in real estate its all about location, location, location!

The location of the HUD homes you consider buying is even more important in today’s distressed housing market. Pick a good location and you can buy a HUD home that will maintain its value for years to come. If you pick a bad location in a deteriorating neighborhood you may never recover the amount you paid for you Columbus house.

Here’s a HUD house you may want to consider, both for its location and for its low asking price. I featured the house at Rocky Den Road in Reynoldsburg in early spring. You can still see the snow in the pictures.

This HUD home has been in and out of contract a couple of times. Now it is available to all bidders for $84K. You can probably get this house for half of its retail value.

Call me to see comparable sales for this area!

If you are on the fence about buying a HUD home this summer, I strongly recommend you submit an offer this week! Friday may be the last time we see new HUD listings for a month!

Summary of Bargains

HUD Homes available to all bidders: 110 (last week: 108)
Boomerang homes (relists from Fri): 33 (last week: 28)

Bidding Results of Features HUD Homes

Only two of the previews from a week ago are in contract. The others are still available for all bidders.

932 Keltonhurst Ct, Blacklick, OH
3BR/2.5 BA 2,188 sqft Asking $120,000
Offer accepted on 07/26/10 for $110,500 – 8% below list price

181 E. Royal Forest Blvd, Columbus, OH
2BR/1.0BA 1,060 sqft Asking $105,000
Offer accepted on 07/26/10 for $115,000 – 10% above list 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

Once again there are more relisted HUD homes than new listings.

Two of the new Columbus houses you don’t want to miss are on Course Drive in Westerville and on Remington Road in Bexley. They are perfect for owner occupants.

Course Drive is a 2000 sqft HUD home on the East side of Hoover Reservoir. It’s absolutely gorgeous. Remington Road is an older house one block South of Main Street near Capital University in Bexley.

I will preview both of these homes for you on Sunday.

Guess which HUD home is back on the market?

Bembridge Drive was relisted today. Yes, this is the Upper Arlington HUD house that fell out of contract at least 2 times in a row. I assume the buyers could not get conventional financing due to the repairs it needs. Now it is listed for $175K.

This is a great opportunity for investors! Check out the previous bidding results and call me, if it is still available on Wednesday to submit an offer.

Listing Statistics

Total homes available: 178 (last week: 179)

Owner occupants: 98
All bidders: 80
New listings: 26
Sunday deadline: 30
Relisted/Price reduced: 42

Median Price: $72,000 (last week: $72,000)
Average Price: $73,063 (last week: $70,769)
Highest: $176,400
Lowest: $9,000

Homes less than $50,001: 54 (last week: 56)
Between $50,001 & $100,000: 82 (last week: 85)
More than $100,000: 42 (last week: 38)

Call me today at 975-9650 to schedule your house hunting 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

The Dog Days of Summer have an impact on Columbus HUD Homes sales.

Owner occupants seem to delay their HUD home buying decisions while they are busy with vacations and other summer activities. This is not unusual. Almost every year June and July have been pretty slow months when it comes to selling real estate.

This creates great opportunities for investors. There are more suburban HUD homes for investors than any time I can remember.

On today’s bargain hunter list you will find 8 HUD homes in Reynoldsburg, at least 2 in New Albany, 2 in Upper Arlington and more in most other Columbus suburbs.

Are you a serious investor?
Now is the best time to submit your offers! There’s less competition from owner occupants. What’s more, there may not be any opportunities to buy HUD homes for a month, when the transition to the new management company begins.

Give me a call at 975-9650! I would like to share with you an incredibly low offer I just got accepted.

Summary of Bargains

HUD Homes available to all bidders: 108 (last week: 130)
Boomerang homes (relists from Fri): 28 (last week: 22)

Bidding Results of Featured HUD Homes

Only two of the five HUD homes I featured a week ago received acceptable offers. See details below.

1575 Lancaster Ave, Reynoldsburg, OH
3BR/1.0BA 1,452 sqft Asking $119,000
Offer accepted on 07/20/10 for $103,069 – 13% below list price

8514 Old Field Birch Dr, Blacklick, OH
3BR/2.5BA 2,456 sqft Asking $148,000
Offer accepted on 07/19/10 for $128,000 – 14% below list 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

Price reductions are a big part of HUD’s selling strategy. This is obvious in today’s HUD homes map.

There are 38 relists. Almost two thirds (24) of the relisted HUD homes are price reductions. Most of these homes were on the market for 30 days and did not sell, so HUD decided to lower the price by 10%.

This is where you can find the best deals.

Relisted HUD homes are exclusively available to owner occupants for 5 days. If they do not sell by Wednesday you have an excellent chance of getting a low offer accepted.

Our bargain hunter list highlights these Columbus houses. Watch out for my Wednesday email and submit a low offer on one of the relists!

The price of the tiny Upper Arlington HUD house at Nottingham was finally lowered to $176,400. I believe it is still too expensive.

Try $135K, if it did not sell by Wednesday. The most recent HUD bidding results indicate that HUD is very eager to accept lower offers!

Listing Statistics

Total homes available: 179 (last week: 182)

Owner occupants: 86
All bidders: 93
New listings: 30
Sunday deadline: 18
Relisted/Price reduced: 38

Median Price: $72,000 (last week: $71,100)
Average Price: $70,769 (last week: $72,584)
Highest: $176,400
Lowest: $9,100

Homes less than $50,001: 56 (last week: 66)
Between $50,001 & $100,000: 85 (last week: 85)
More than $100,000: 38 (last week: 43)

Call me today at 975-9650 to find the best HUD deals in Columbus!

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