Are you prepared to put some sweat equity in your new HUD home?
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
