I made a strange discovery this week: While we pulled together the properties for this week’s map of Columbus HUD Homes, I discovered that the number of HUD homes listed for sale in Central Ohio kept declining the third week in a row.  Actually, it was not just declining – it was an outright drop of almost 50%.

Does this remind you of the stock market? Will we see a shortage of HUD Homes in the near future?

It’s hard to believe that there will be fewer HUD homes for sale in the foreseeable future.  Foreclosures are still at all time highs, and a certain percentage of foreclosed loans were insured by FHA. So why did the number of listings drop?

Look at the statistics of the past 3 weeks.  It appears that many of HUD homes got sold, because of aggressive pricing and big discounts.  Some are really good deals and buyers take advantage of it.

At the same time is seems that HUD and its local partner NHMSI have their hands full getting new listings ready.  It takes some effort to get these properties to market, completing appraisals and home inspections.

All in all I don’t believe we are not running out of HUD Homes. But they are offered at very competitve prices and go fast.  So if you want to play – don’t delay and make an offer today!

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS 
Specializing in HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650