Columbus HUD Homes

You’ve got to see it to believe it! A Single Family HUD home in Bexley sold for only 62% of asking price, which is about 50% of fair market value for this property, and a Duplex in Olde Towne East sold for over 500% of asking price, which is also about 50% of fair market value.

Let’s take a closer look at these two Columbus HUD homes:

956 College Ave, Bexley OH 43209 is a 4 BR home in a nice Bexley neighborhood where property values are around $185,000. It was listed for $143,000 on 8/14/09 and has not found a buyer till almost 4 weeks later. Why? The property has problems: the foundation is damaged, there is standing water on the basement floor, the plumbing leaks and more. Well, whoever got the offer accepted essentially got it for ½ price. Way to go!

931-933 Oak St, Columbus OH 43205.  Now, this one baffles me. The property is a smallish double in Olde Towne East. The street is quiet, with many remodeled brick homes and mature trees. Value of this double, once fixed up, could be around $185,000 as well. So far so good.

What I don’t understand is this: why would somebody bid $80,000 on this property if it has been in contract twice before for $49,999? Doesn’t this seem like overkill? The owner occupant buyer potentially could have saved $30,000 for repairs if he/she had researched this house on our blog!

Don’t get carried away with the bidding frenzy. Call me before you make an offer! I can give you my best guess on what any given property might sell for based on previous bids! I keep an archive of bidding histories of relisted Columbus HUD homes in our private database. You can’t find this information anywhere else, because NHMS removes this information from their website for all active listings. 

I love nothing more than helping one of my buyers snag a terrific 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