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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Answers to 5 Repair Escrow Questions

Many HUD homes are listed as Insured with Escrow. It seems that this repair escrow confuses many home buyers. Let me explain what the repair escrow means, what it’s for and why it is beneficial for home buyers. FHA uses 3 categories to describe which type of financing is offered for a specific HUD listing: [...]

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Number of HUD Homes in Columbus Down by 25%

What a dramatic change since we published Statistics on Government Foreclosed Homes at the end of February 2011. The total number of HUD Homes in Columbus Ohio is down to 299, from more than 400 HUD listings at the beginning of the year. Even at the end of February we had close to 400 listings. [...]

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The Hidden Costs of Buying Foreclosed Homes

Do you realize that there are hidden costs when you buy foreclosed or HUD homes? I am not talking about out-of-pocket items, such as loan application fees or even the cost of your home inspection. These are fees most buyers are aware of. You already know that you will have to spend some money before [...]

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New Disclosure Has HUD Home Buyers Puzzled

A few days ago HUD added a new disclosure to its listings on the HUD Home Store that has many Columbus buyers and real estate agents puzzled. “Availability of home is subject to the Asset Manager removing the home from the market” What does this mean? Basically, they say that HUD could remove the listing [...]

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Government Foreclosed Homes Market Conditions

February 2011 is almost over. You may wonder how well HUD homes and other government foreclosed properties, such as Fannie Mae, Freddie Mac and VA houses have been selling this year. Foreclosed homes are certainly a bargain. Realty Trac reports that foreclosed homes sell for 43% less than regular houses in Ohio.  The average price [...]

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