The fall home buying season officially started. The Buckeye’s won their first game at the Horseshoe, so we know that this will be an exciting fall. This is also a great time to buy Columbus HUD Homes. Interest rates are still around 5% and the $8,000 federal tax credit is available till the end of November.
Don’t wait for the last minute, i.e. the end of October to sign a contract, because you may not be able to close by the deadline, which is November 30, 2009. We know how slow and picky banks are these days. Make your buying decision in September, which will give you plenty of time to cover all contingencies.
Now let’s see what types of Columbus houses you can buy for around $100,000. The 3 featured HUD homes you see below are perfect examples of what you get. We are talking nice suburban homes, typically less than 10 years old, with 3 or 4 bedrooms, around 2,000 sqft of living space and attached garages.
Keep in mind that your “Net Purchase Price” will likely be lower. Here are 3 reasons:
- There is a good chance that HUD will accept 5% to 10% less than list price.
- The first time buyers tax credit gives you an extra discount of roughly 8% of the purchase price.
- With property tax proration and the $2,500 HUD incentive for closing costs, you may actually get cash back at closing.
Now let’s take a look at the three $100,000 homes I previewed for you:
3165 LEGION LN, Columbus, OH
4BR/2.5BA 2,134 sqft Asking $100,000
1358 TELHAM CT, Columbus, OH
4BR/2.5BA 2,952 sqft Asking $113,000
1583 KERRYGLEN DR, Galloway, OH
3BR/2.0BA 1,125 sqft Asking $92,000
You are really at a unique time in the history of this country. Most likely the best time ever to buy a home. So don’t delay, just give me a call and I will help you find the home of your dreams at an incredible 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
