Columbus HUD homes listings are cyclical. Remember that we had an all time record of new HUD listings last week. This week more than half are either relists or price reductions.
Investors watch out! Only 32 homes are available to all bidders, everything else is reserved for owner occupants. Get the scoop on investor eligible properties first thing Wednesday morning on our Bargain Hunters List!
It appears that owner occupants write quite a few offers on Columbus houses. This must be due to the low interest rates and very favorable financing terms with FHA loans ($100 down) and the $8000 tax credit for first time buyers. Unfortunately, many of these offers fall through and properties are relisted. Coming out of a very harsh winter, water line breaks are common and many buyers are backing out of their contract after the inspection.
On the other hand investors are buying homes as soon as they are available to them, thereby keeping the inventory of HUD homes for all bidders very low.
This Week’s Listing Statistics
Total homes available: 104 (last week: 94)
Owner occupants: 72
All bidders: 32
New listings: 18
Price reduced: 54
Median Price: $77,250 (last week: $79,750)
Average Price: $80,281 (last week: $80,708)
Highest Price: $192,000
Lowest Price: $4,050
Homes less than $50,001: 33 (last week: 29)
Between $50,001 & $100,000: 40 (last week: 37)
More than $100,000: 31 (last week: 28)
Call me at 975-9650 to check out the new HUD homes over the weekend!
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
