Columbus HUD Homes

Owner occupant buyers must feel like in paradise. The selection of suburban Columbus HUD homes is excellent and extremely affordable. That’s why owner occupants beat investors 8 out of 10 times on HUD home offers. Out of the 70 Columbus houses listed for sale by HUD, only 9 are available for all bidders (investors), while the rest is reserved for owner occupants. 

Here are 2 charts to illustrate HUD listing statistics since the beginning of the year. We show the 4 different types of listings in the colors you are used to from our HUD Maps:

• RED [New]: new HUD home listings (10 exclusive for owner occupants)
• YELLOW [Relist]: relisted HUD homes and price reductions (5 days exclusive for owner occupants)
• BLUE [Sunday]: previous Friday’s new listings with a bidding deadline of Sunday midnight (still exclusive for owner occupants)
• GREEN [Investors]: HUD homes available for all bidders (investors) with a daily bidding deadline

The first one shows the total number of Columbus HUD homes available each Friday. Essentially, that’s the information you can see in our email newsletter every Friday. Look at the last column to the right. It shows today’s listings. You can see that the total number of listings (height of column) is 70, while the number of new listings (red) is 21.

The second chart shows the same information as a percentage of all HUD listings. Here you can see the percentage of homes available for investors (green) relative to the total number of HUD homes. For instance, in the last column (today’s listings) homes for all bidders (green) are only 15% of the all listings.

You can clearly see 3 major trends:

1. The total number of HUD homes has gone down to 50% since the beginning of the year.
2. The number of HUD homes available to investors (green portion of chart) has dwindled to 15% of the total number of homes vs. almost 50% at the beginning of the year.
3. Since the end of August, when we hit an all-time low, we saw a consistent increase in listed HUD homes.

These charts clearly show that owner occupants are dominating the HUD homes market and the share of investors has become very small. This is due to the fact that it has become very hard for investors to secure financing for investment properties, while HUD offers very generous incentives for owner occupants to buy their homes. There is no doubt in my mind that this is in the best interest of HUD, as they can sell their homes to owner occupants for or above list price, while investors will demand a substantial discount.

Listing Statistics of this Week

Total homes available: 70 (last week: 63)

Owner occupants: 61
All bidders: 9
New listings: 21
Sunday deadline: 25
Relisted/Price reduced: 15
 
Median Price: $59,500 (last week: $63,000)
Average Price: $77,777 (last week: $76,159)
Highest: $188,000
Lowest: $5,400
 
Homes less than $50,001: 31 (last week: 21)
Between $50,001 & $100,000: 19 (last week: 17)
More than $100,000: 20 (last week: 11)
 
Call me TODAY at 975-9650 to see the newest HUD Homes this 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

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