That’s when new asset management firms will take over the marketing of HUD properties. And rumor is: they will completely change the rules.

Here’s the good news!

As a reader of the Columbus HUD Homes Blog you will be weeks ahead of all other buyers. We already made contact with the new asset managers – yes, there are more than one – and we will explain the changes on our blog, as soon as this information becomes available.

This presents a tremendous opportunity for HUD home buyers right now!

While NHMSI is still in charge you may get super low offers accepted. They want to sell their existing inventory quickily, before the new guys take over. Submit your offer in September and you can play by the old rules, which are probably more favorable to investors.

Give me a call to check out HUD homes! The selection is better than ever.

Summary of Bargains

HUD Homes available to all bidders: 120 (last week: 117)
Boomerang homes (relists from Fri): 17 (last week: 33)

Call me at (614) 975-9650 for tips on finding the best deals.

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 weekend I picked 3 HUD Homes located in the South East of Columbus, just outside of  I-270 near Reynoldsburg. They are within 5 minutes of each other and none of them is listed for more than $77,000.

These 3 Columbus houses are really great values for first time buyers. They are all in good condition and ready to move in.

At today’s hyper-low interest rates you can live in either of these HUD homes for around $350 a month plus property taxes and insurance. Try to find a rental house for that price.

As a bonus I previewed an almost new, detached HUD condo in Westerville. It was built in 2006 and offers 3 bedrooms and 3 full bathrooms in a small subdivision near Hoover Reservoir.

Here are my 4 HUD picks of this Week!

5111 Fullerton Dr, Columbus OH
3BR/2.0BA 1,708 sqft Asking $75,000

3348 Yozuri Dr, Columbus OH
4BR/3.0 BA 1,948 sqft Asking $77,000

6584 Benjamin Dr, Reynoldsburg OH
3BR/1.0BA 1,260 sqft Asking $75,000

6141 Braet Rd, Westerville OH
3BR/3.0BA 1,892 sqft Asking $150,000

Call me at (614) 975-9650 to see the interior!

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

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

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

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

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

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

The homes at Larkstone Drive and Stoney Creek are in the Columbus school district. Don’t dismiss them! HUD Homes in Columbus schools may still be great deals, especially in the north west part of the City.

My featured Columbus houses are at great locations in Linwood and near the Olentangy River.

Here are my 5 HUD picks of this Week!

2957 Collier Hill Ct, Hilliard OH
4BR/2.5BA 2,366 sqft Asking $187,000

5073 Langcroft Dr, Hilliard OH
3BR/2.5 BA 1,594 sqft Asking $145,000

3717 Lake Mead Dr, Grove City OH
4BR/2.5BA 2,288 sqft Asking $180,000

953 Larkstone Dr, Columbus OH
3BR/2.0BA 1,714 sqft Asking $150,000

930 Stoney Creek Rd, Columbus OH
3BR/2.0BA 1,652 sqft Asking $188,000

Call me at (614) 975-9650 to see these spectacular 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

The Dublin HUD home on Pyramid Falls Drive is truly exceptional. It is only 2 years old, more than 2,200 sqft large and spotless. The kitchen counter-tops are granite with a beautifully tiled back splash. Other upgrades include brushed nickel light fixtures throughout the house, ceramic tile and hardwood floors.

This is a free standing condo, so you don’t have to worry about the yard. However, your condo fees are a whopping $170 per month. And it is located in the Columbus School district.

As a matter of fact 4 of the featured HUD homes are in the Columbus City School District, despite their suburban mailing addresses.  Columbus schools sometimes get a bad rep. However, over the past few years this school district was very successful, significantly improved graduation rates and built more new school buildings than you can count. 12 Columbus high schools were ranked among the best in the nation by US News and World Report.

Here are my 5 HUD picks of this Week!

5149 Pyramid Falls Dr, Dublin OH
3BR/2.5BA 2,420 sqft Asking $179,000

2081 Winding Hollow Dr, Grove City OH
4BR/2.5 BA 1,862 sqft Asking $120,000

502 Tourmaline Dr, Blacklick OH
3BR/2.5BA 1,630 sqft Asking $110,000

4037 Summerstone Dr, Columbus OH
3BR/2.5BA 1,592 sqft Asking $150,000

1735 Westwood Dr, Lewis Center OH
4BR/2.5BA 2,226 sqft Asking $205,000

Call me at (614) 975-9650 to see these spectacular 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

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