You can’t touch home values in Clintonville!
Do you remember the tiny Clintonville HUD home I featured a week ago? As expected, this cute little 2 bedroom, 1 bathroom house on Royal Forest Blvd went in contract to an owner occupant for $115,000. That’s $10,000 above list price.
The old rule still applies: in real estate its all about location, location, location!
The location of the HUD homes you consider buying is even more important in today’s distressed housing market. Pick a good location and you can buy a HUD home that will maintain its value for years to come. If you pick a bad location in a deteriorating neighborhood you may never recover the amount you paid for you Columbus house.
Here’s a HUD house you may want to consider, both for its location and for its low asking price. I featured the house at Rocky Den Road in Reynoldsburg in early spring. You can still see the snow in the pictures.
This HUD home has been in and out of contract a couple of times. Now it is available to all bidders for $84K. You can probably get this house for half of its retail value.
Call me to see comparable sales for this area!
If you are on the fence about buying a HUD home this summer, I strongly recommend you submit an offer this week! Friday may be the last time we see new HUD listings for a month!
Summary of Bargains
HUD Homes available to all bidders: 110 (last week: 108)
Boomerang homes (relists from Fri): 33 (last week: 28)
Bidding Results of Features HUD Homes
Only two of the previews from a week ago are in contract. The others are still available for all bidders.
932 Keltonhurst Ct, Blacklick, OH
3BR/2.5 BA 2,188 sqft Asking $120,000
Offer accepted on 07/26/10 for $110,500 – 8% below list price
181 E. Royal Forest Blvd, Columbus, OH
2BR/1.0BA 1,060 sqft Asking $105,000
Offer accepted on 07/26/10 for $115,000 – 10% above list price
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
{ 2 comments… read them below or add one }
That would be a great value in Clintonville, if it were in Clintonville. It isn’t though. It is in Beechwold.
Hi Bob, I do appreciate the comment. Since Clintonville is an unincorporated neighorhood, there are no definite borders. I elaborated on that in another blog post at http://www.OhioPrettyHomes.com – see the article here: http://ohioprettyhomes.com/columbus-oh-homes-for-sale/which-homes-can-you-buy-in-clintonville
The commonly accepted boundaries for Clintonville include the Zoolander and Beechwold subdivisions. Thanks again for reading my blog!