Columbus HUD Homes

The snow has just melted, but buyers are already crazy about HUD homes. When you see the bid results of this week, you will agree that there is a frenzy going on – at least when it comes to the nicer, suburban HUD listings.
 
Five of our featured HUD homes are in contract! It is amazing that some of them received much higher bids the second time around than when they were listed initially.

Obviously, most realtors don’t save a database of HUD bidding statistics. Well, this is one way we are different. If you work with me, you will know what HUD accepted previously. And you will not overpay on a relist!

3860 Maidens Larne Dr, Columbus, OH
List Price: $146,000
Offer accepted on 03/10/10 for $128,100
Offer accepted on 01/27/10 for $110,000

2917 Morality Dr, Columbus, OH
List Price: $146,000
Offer accepted on 03/10/10 for $122,155

4205 Nafzger Dr, Columbus, OH
List Price: $157,000
Offer accepted on 03/10/10 for $168,750
Offer accepted on 12/2/09 for $145,201

3445 Steiner St, Columbus, OH
List Price: $117,000
Offer accepted on 3/10/10 for $117,000
Offer accepted on 2/17/10 for $120,000
Offer accepted on 1/20/10 for $105,000

4455 Rolling Ct, Grove City, OH
List Price: $130,000
Offer accepted on 03/10/10 for $135,800
Offer accepted on 02/22/10 for $135,000

There are 2 reasons why Columbus HUD homes are still selling extremely well:

• Most buyers have waited for the snow to melt before they decided to go out and look at homes. March is the official start of the spring buying season.
• There is another deadline looming: the tax credit for both first time and repeat buyers will expire at the end of April. You must sign a purchase contract by April 30, 2010 or you won’t qualify.

Here’s the good news! There’s still a long list of exceptional homes available for all bidders. You will find 69 HUD homes on today’s bargain hunters list, 23 of them are boomerangs that got relisted last Friday.
 
And on top of it, the 65 new HUD listings from last Friday are waiting for offers with a Sunday 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

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

This one’s for the record books! A total of 157 HUD homes are available in Central Ohio and 65 new HUD listings were added today.
 
New listings are almost everywhere. Just take a look at today’s HUD homes map and click on the red markers to find the details on each of the properties.
 
There’s a heavy concentration of 12 HUD listings in Blacklick, 9 in Grove City, and 12 in Canal Winchester. 
 

Let me point out one rare find: a 3 bedroom Clintonville ranch at 93 Leland Ave, just South of Graceland Shopping Center. It’s listed for $115,000 and insured for FHA financing.
 

Listing Statistics

Total homes available: 157 (last week: 102)

Owner occupants: 106
All bidders: 51
New listings: 65
Sunday deadline: 6
Relisted/Price reduced: 35
 
Median Price: $73,000 (last week: $69,000)
Average Price: $79,562 (last week: $73,950)
Highest: $167,000
Lowest: $8,800
 
Homes less than $50,001: 43 (last week: 33)
Between $50,001 & $100,000: 63 (last week: 46)
More than $100,000: 51 (last week: 23)

Call me TODAY at 975-9650, this will be a nice weekend for house hunting! 

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, Homes for Sale, hud listings, Real estate agent

We have another snowy weekend ahead of us. There are many great Columbus HUD homes available, but most of them require an offer by Sunday midnight (if you are an owner occupant).

This week’s HUD homes map is dominated by relists (22) and by HUD houses available to all bidders (46). With only 6 new HUD listings – that’s a historic low – there’s nothing new in the suburbs. 
 
This is a clear sign that it is more difficult to get a loan on HUD homes these days. And FHA announced that lending guidelines will be even stricter this spring as the housing market recovers.
 
I recommend that you focus your attention on the relists. Not only will you find many nice, suburban homes in this group (yellow on the map), but you will also have the best chance of getting a lower offer accepted. 

Listing Statistics

Total homes available: 102 (last week: 114)

Owner occupants: 56
All bidders: 46
New listings: 6
Sunday deadline: 28
Relisted/Price reduced: 22
 
Median Price: $69,000 (last week: $71,325)
Average Price: $73,950 (last week: $75,564)
Highest: $185,000
Lowest: $8,800
 
Homes less than $50,001: 33 (last week: 36)
Between $50,001 & $100,000: 46 (last week: 48)
More than $100,000: 23 (last week: 30)

Call me TODAY at 975-9650, if you would like to check out a few 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

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

The number of Columbus HUD homes available to all bidders is surprisingly low this week. Most of them are in the city of Columbus and priced below $100,000. This certainly means that suburban HUD homes are selling extremely well.

It appears that HUD is very motivated right now. The article I wrote earlier this year, why you should buy Columbus OH homes for sale in January 2010, still applies to February and maybe even March, especially, if the weather stays cold and snowy.

Now let’s take a look at the list of previously featured Columbus HUD homes below. Most of them sold for less than asking 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

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

Just when I finished the HUD homes map for this week, I discovered that NHMS published another announcement. It says that they will no longer allow buyers to order a 2nd appraisal when they finance their HUD home purchase with an FHA loan.

Over the past 6 months it was common practice that buyers, who offered more than HUD’s as-is appraised value for a property, were allowed to order a new appraisal to finance the full purchase price.  By discontinuing this practice the buyer’s FHA lender will have to use HUD’s as-is appraisal. If you offer more than the as-is value, you will have to bring the difference in cash to the closing table.

Strange as it sounds, this rule change may actually be good for you as a buyer. I believe that fewer people will over-bid on HUD homes. From personal experience I know that many buyers (and their realtors) may not be aware of this rule. Once they find out that they need to bring more cash to closing than expected, they are more likely to cancel their contract.

So, if you work with me as your agent you will be a winner! You won’t get tangled up in a bidding war, nor will I let you pay too much for a HUD property.

There are 26 new HUD listings this week. A great selection of new homes were listed mostly in suburban school districts, such as Hilliard, Delaware, Canal Winchester and Gahanna. 

With the loss of incentives for owner occupants I certainly expected that more homes would become available to all bidders. This week the total number of HUD listings fell to 114, while the number of homes available to all bidders swelled to 50. That’s almost 50% of all HUD Homes.

Listing Statistics

Total homes available: 114 (last week: 132)

Owner occupants: 64
All bidders: 50
New listings: 27
Sunday deadline: 16
Relisted/Price reduced: 21
 
Median Price: $71,325 (last week: $80,100)
Average Price: $75,564 (last week: $80,543)
Highest: $175,000
Lowest: $8,800
 
Homes less than $50,001: 36 (last week: 34)
Between $50,001 & $100,000: 48 (last week: 57)
More than $100,000: 30 (last week: 41)  
 

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, FHA, FHA loans, Homes for Sale, hud listings, Real estate agent

The bid deadline for 62 Columbus HUD homes is approaching. It will be Monday (2/15) at midnight, due to the President’s Day holiday. These Columbus houses were listed a week ago. Owner occupants will have one extra day to submit their offer.
 
If you still want to check out some of these homes, take a closer look at today’s HUD homes map. If you are not a subscriber simply enter your email in the box to the right or click on the blue button at the end of this post to join.

The blue markers on the map indicate HUD homes that were listed a week ago. New HUD listings are exclusively reserved for owner occupants for 10 days (11 days if monday is a holiday). I’d be glad to open a few doors for you over the weekend or on Monday. The selection is better than ever.
 
We only see 16 new HUD listings (red markers) this week. But there are 23 relisted HUD homes (yellow markers). You will probably recognize some of these homes, because we featured them on this blog. Here are just a few that stick out:

3445 Steiner St, Westerville, OH
3BR 2.5BA 1,428 sqft Asking $130,000
Offer accepted on 1/20/10 for $105,000

2607 Northwold Rd, Westerville, OH
3BR 1.5BA 1,314 sqft Asking $92,000
Offer accepted on 11/12/09 for $78,627

Listing Statistics

Total homes available: 132 (last week: 138)

Owner occupants: 101
All bidders: 31
New listings: 16
Sunday deadline: 62
Relisted/Price reduced: 23
 
Median Price: $80,100 (last week: $80,500)
Average Price: $80,543 (last week: $80,535)
Highest: $182,000
Lowest: $8,800
 
Homes less than $50,001: 34 (last week: 35)
Between $50,001 & $100,000: 57 (last week: 61)
More than $100,000: 41 (last week: 42)

Call me TODAY at 975-9650 and don’t miss out on this huge selection!

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, Homes for Sale, hud listings, Real estate agent

In an incredible boost of new listings, NHMS has added 62 Columbus HUD homes to its inventory. The total number of HUD homes available today is a whopping 138.
 
At the same time incentives for owner occupants will vanish in a week from today. NHMS has changed this announcement on their website repeatedly. Currently, it appears that contracts need to be ratified by Friday 2/12/2010 to be eligible for the $100 downpayment program.
 
This means that your offer must be submitted by Monday or you will miss this deadline. Therefore, you should focus on the blue and green markers on the map. That’s the HUD homes with a Sunday 2/7/10 deadline for owner occupants and the homes available to all bidders. The relists of this week may not be ratified before next Friday.

Here are 3 previously featured HUD homes that are currently in daily bidding:

3164 Arrowsmith Dr, Reynoldsburg, OH
LISTED FOR: $95,000
Offer accepted on 11/12/09 was $77,300

3187 El Greco Dr, Columbus, OH
Southwestern City Schools
LISTED FOR: $90,000
No previous offers!

3445 Steiner St, Columbus, OH
Westerville Schools
LISTED FOR: $130,000
Offer accepted on 1/20/10 was $105,000

Listing Statistics

Total homes available: 138 (last week: 104)

Owner occupants: 108
All bidders: 30
New listings: 62
Sunday deadline: 28
Relisted/Price reduced: 18
 
Median Price: $80,500 (last week: $69,500)
Average Price: $80,535 (last week: $71,103)
Highest: $182,000
Lowest: $12,600
 
Homes less than $50,001: 35 (last week: 34)
Between $50,001 & $100,000: 61 (last week: 48)
More than $100,000: 42 (last week: 22)
Call me TODAY at 975-9650 to secure one of the remaining $100 down 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

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent

More than 100 HUD homes are available in Central Ohio. The majority of these Columbus houses is in the $50K to $100K bracket.
 
The median list price has recently dropped to below $70,000. This means that half of all HUD homes are listed for less than $70,000 (median) the other half is more expensive. Below you can see how the median and average list prices of HUD homes has changed in 2009. It has been cyclical and varied between $55,000 and $80,000.

I also want to mention a few relists that may be good opportunities for investors (if they are still available on Wednesday morning). Steiner Street in Westerville is back on the market, but still listed for $130K. The 6 bedroom double on 4th Street (just south of Merion Village) is now available for $9,900. And there’s a multi-level home in the Riverbend Subdivision (southwest) relisted at a reduced price of $58,500.

Listing Statistics

Total homes available: 104 (last week: 101)

Owner occupants: 58
All bidders: 46
New listings: 28
Sunday deadline: 17
Relisted/Price reduced: 13
 
Median Price: $69,500 (last week: $69,000)
Average Price: $71,103 (last week: $71,021)
Highest: $165,000
Lowest: $6,000
 
Homes less than $50,001: 34 (last week: 32)
Between $50,001 & $100,000: 48 (last week: 47)
More than $100,000: 22 (last week: 22)

Call me TODAY at 975-9650 to take advantage of this great selection! 

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, Homes for Sale, hud listings, median price, Real estate agent

This is the week of the investment property. The HUD homes map is overwhelmingly “green”. As an investor, you know what that means: a large selection and great buying opportunities on Columbus HUD homes.
 
A total of 40 properties are open to all bidders. We did not have that many since February 2009.  If you did not get your map, you are probably not a subscriber. Enter your email in the orange box to the right and hit Send to join
 
Now let’s take a look at a few new HUD listings that offered at bargain prices. There’s a pretty nice home on Hinman Ave – at the southern end of Merion Village – for only $7,000. A couple of years ago homes sold for up to $150,000 on this street!

Just 3 blocks north of it you will find another HUD house at 319 Southwood Ave. It is listed for $64,800, however, this one’s already open to all bidders. I believe that HUD should accept offers in the low $50K range.
 
Another one to point out is located at Wyandotte Ave in the 43202 ZIP code. Yes, this is part of the University District. HUD is asking $60,000 for this property. Most houses in the OSU Campus area sell for much more.

Listing Statistics

Total homes available: 101 (last week: 129)

Owner occupants: 61
All bidders: 40
New listings: 17
Sunday deadline: 29
Relisted/Price reduced: 15
 
Median Price: $69,000 (last week: $78,500)
Average Price: $71,021 (last week: $79,922)
Highest: $168,000
Lowest: $6,000
 
Homes less than $50,001: 32 (last week: 32)
Between $50,001 & $100,000: 47 (last week: 59)
More than $100,000: 22 (last week: 38)

Call me TODAY at 975-9650 to take advantage of this great selection! 

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, Homes for Sale, hud listings, investment properties, Real estate agent

Once again all five Columbus HUD homes we featured a week ago are in contract. The real estate market is heating up and buyers are flocking to these HUD homes to make offers.

I strongly recommend that you don’t delay your home purchase any more. Now is the time to buy, before the weather turns nice and warm, and everyone else will compete for the small number of HUD listings.

Here’s a compilation of the bid results. These results are remarkable, if you consider that 50 new homes were listed when these properties hit the market.

8063 Beardsley Ave, Blacklick, OH
4BR/2.5BA 2,312 sqft Asking $120,000
Offer accepted on 1/19/10 for $126,111
5% above list price

3555 Cove Lake Ln, Grove City, OH
3BR/2.5 BA 1,438 sqft Asking $112,000
Offer accepted on 1/19/10 for $121,523
8.5% above list price

2801 Oak Forest Dr, Grove City, OH
3BR/2.5BA 1,676 sqft Asking $103,000
Offer accepted on 1/19/10 for $120,559
17% above list price

2680 Lynnmore Dr, Columbus, OH
4BR/2.5BA 1,878 sqft Asking $153,000 Dublin Schools
Offer accepted on 1/19/10 for $143,000
6.5% below list price

7710 Rippingale St, Columbus, OH
3BR/2.5BA 2,225 sqft Asking $118,000
Offer accepted on 1/19/10 for $125,000
6% above list price

Call me at (614) 975-9650! This will be a great week to look at 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

Technorati Tags: Columbus Houses, Columbus HUD Homes, Columbus Realtors, Homes for Sale, hud listings, Real estate agent