A couple of very expensive HUD homes just switched to daily bidding. These Columbus houses are now available to all bidders including investors.
Does it make sense for investors to buy these HUD homes or are they simply too expensive?
Let’s take a look.
The Bexley residence at Ardmore Road did not find an owner occupant buyer after it was relisted last Friday. You can see the pictures at our property website and decide for yourself. Is it worth to pay more than $200K for Columbus houses that need that much work?
The same question has to be asked for the HUD house on Bucktrout Place in Worthington. The great location and Worthington school district can’t make up for the deferred maintenance and repairs needed.
Most likely investor will not bite on this deal. I predict that this HUD home will be relisted on Friday for less than $200K.
We have 30 boomerang HUD homes that just became available to all bidders. A total of 95 HUD homes are available for investors right now!
If you are looking for winners, you should go with the homes I preview every week. Owner occupants buy most of these homes during the initial 10 day or 5 day exclusive bidding period.
Four out of the five HUD homes I featured last week are now in contract. You can see detailed bidding results below!
Bidding Results of Featured HUD Homes
153-155 Broad Meadows Blvd, Clintonville OH
6BR/2.0BA 2,508 sqft Asking $110,000
Offer accepted on 05/24/10 for $110,000 – exactly at list price
5544 Mossy Creek Drive, Dublin OH
2BR/2.5 BA 1,335 sqft Asking $130,000
Offer accepted on 05/24/10 for $100,000 – 23% below
3853 Quail Hollow Dr, Columbus OH
3BR/2.5BA 1,556 sqft Asking $132,000
Offer accepted on 05/24/10 for $132,585 - just above list
4307 Knoll Crest Dr, Grove City OH
3BR/2.0BA 1,582 sqft Asking $120,000
Offer accepted on 05/24/10 for $109,000 – 9% below
Call me at (614) 975-9650 for tips on how you can bid on Columbus HUD homes and still win the contract!
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
