While most people are busy buying Christmas presents and preparing for the holidays, HUD is struggling with a problem: How to get rid of the large number of HUD homes they listed in December?
You probably read last Friday’s blog post about HUD flooding the market with new listings. More than 100 Columbus HUD homes are available for sale. Most of these homes are relatively new and in good condition – a perfect fit for owner occupants. However, this time of the year most prospective buyers have other priorities or simply hold off to see what the new year brings.
A smaller number of buyers means less competition, which results in lower prices. The only way HUD can sell their properties in December and January is by accepting lower purchase offers. Let me show you 2 examples to prove this point.
Earlier this week HUD accepted offers on 2 Columbus houses that were much below the values they would have accepted earlier this year. The house on 760 Range Drive in Galloway was listed for $145,000, but sold for only $116,000, that’s a 20% discount. Another suburban HUD home at 1236 Preeman Street in Blacklick sold for $105,001 down from a list price of $139,000 – that’s a 25% discount.
Do you see the pattern? You can get 20% to 25% off the list price, even during the initial 10 day listing period. These homes were not relists or boomerangs, just regular HUD listings purchased by owner occupants.
Some great looking homes are still available and on a daily bid deadline. Call me and I’ll give you my best bet of how low HUD might be willing to go!
5083 Crockett Dr, Hilliard OH 43026
Hilliard Schools List Price: $120,000
5561 Mesa Falls St #3, Dublin OH 43016
Columbus Schools List Price: $132,000
You can see my 18 pictures at: http://www.postlets.com/rem/3132660
7143 Emerald Tree Dr, Canal Winchester OH 43110
Canal Winchester Schools List Price: $127,000
For a comprehensive list of deals available to investors, call me at (614) 975-9650 or, if you are a subscriber, check your inbox for today’s Bargain Hunters List.
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
