When I assembled the Columbus HUD Homes map last Friday, a specific property caught my eye. It was a 2BR/2.5BA condo in Grove City, less than 10 years old, located in a sub-division I am very familiar with. I could not believe what I saw: there was this condo offered for only $6,400! The price was reduced from the original appraised value of $64,000 to only $6,400.
I am thinking this must be a typo. Someone forgot to enter a zero. Or does HUD just want to get rid of this home? It was appraised on 12/26/08, so it has not been on the market for all too long.
Anyway, one of our readers saw the deal and called me to look at the condo. This gave me an opportunity to see for myself if it is trashed, or if there would be any other reason for the price drop.
All together the home is not in bad shape. Somebody had started to remodel the place – the kitchen is freshly painted, and so is part of the great room. The carpets are clean, the bathrooms look immaculate and there is lots of extra storage. There seems to be a plumbing problem, which is also disclosed in the property condition report. There were no water stains and no mold visible, and none is disclosed in HUD’s property condition report for this property.
Take a look at this condo – looks really nice. Click on the picture to get details:
6383 SLEEPY MEADOWS BLVD W #2, GROVE CITY, OH 43123
The bidding deadline is 1/20/09. We’ll know what happened to it the next day, Wednesday the 21st. Either HUD wanted to create a bidding frenzy, which invariably happens when they drop the price radically, or someone in fact produced a typo and HUD may relist the property in a few days. I will keep you posted ….
Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Specializing in HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650
