Will Realtors Show HUD Homes Without A Minimum Commission?

The asset managers for large REO portfolios know that real estate agents are essential to selling their inventory. As many bank-owned properties sell at dirt cheap prices, realtors don’t have a lot of incentive to promote these Columbus houses for a standard 3% commission. It has been common practice for sellers of low-end properties to [...]

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HUD Homes Draught Continues in Columbus

The number of HUD homes available for sale in Columbus has been shrinking since February.  A year ago HUD picked 3 new asset managers to speed up the sale of its inventory. And that’s exactly what happened. Even without incentives, such as the  first-time home buyer tax credit or the $100 down program for FHA [...]

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HUD Secretary Talks About the Future of Housing

Did you ever wonder what the future will hold for HUD homes buyers? Listen to this interview with HUD Secretary Shaun Donovan as he discusses the future of housing in the USA. For a detailed analysis of this interview and commentary by real estate professionals read this article on Agent Beat.

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HUD Runs Out of Money – Delays Closings

Now that’s hard to believe! According to a report by the Wall Street Journal “HUD ran out of money to pay lawyers or other closing agents who manage the sales of properties”. They had to delay closings of HUD homes already in contract and re-negotiate service contracts with vendors. The good news is that the [...]

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Here’s Proof That Not All Mold Is Bad

Honestly, I hate mold in HUD homes in Columbus or anywhere else. It’s a big headache and scares the hell out of most buyers. Not only do you have to remedy it before you can get bank financing, but you also need to disclose it to your buyers, if you want to sell the house [...]

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HUD Homes Thief Busted By Sheriff

Yesterday the Delaware County Sheriff caught a man who burglarized HUD homes in Columbus and Delaware OH. Finally! I spoke to many agents who where affected. This guy did not break into the HUD homes he robbed. He went right through the front door. He even talked to the neighbors, as he cleared out the [...]

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25% Fewer HUD Homes in Franklin County

Here’s a quick update on the status of HUD listings in Central Ohio. The total number of HUD Homes in Columbus has dropped to 164 – the lowest level since the beginning of the year. 74% of HUD homes are in Franklin County, the other 26% in the 6 surrounding counties. While these counties maintained [...]

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Why Did HUD Leave $20,000 on the Table?

Last week I alerted you on substantial price reductions on 2 HUD condos. Let me give you an update on what happended over the weekend. Both condos are now in contract. That was predictable, as the asking prices of these Columbus HUD homes had dropped by more than 50%. You may be surprised to hear [...]

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Number of HUD Homes for Sale Slips by More Than 50%

I was quite shocked this morning when I compiled listing statistics for HUD homes in Columbus. The number of HUD houses available for sale has dropped by more than 50% since the end of February. We are now down to only 182 HUD listings in Central Ohio, as compared to 394 at the end of [...]

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A Steal On The Hilltop

If you haven’t been looking for HUD homes in Columbus, Ohio you probably don’t know the Hilltop. It is a large area on the west-side of Columbus, North and South of West Broad Street from the I-70 interchange going West to Hague Avenue. The area West of Hague up to the new Casino site (near [...]

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