Columbus HUD Homes

We have published Columbus HUD Homes Maps for the past 10 weeks. This article summarizes the listing statistics and shows how the market for Columbus HUD Homes has changed. Our maps cover seven Central Ohio counties (Franklin, Delaware, Fairfield, Licking, Madison, Pickaway and Union).  We see roughly 90 to 100 listings in Franklin County every week.  The rest is spread out over the surrounding counties.

Take a look at the chart below. It shows the number of homes available for owner occupants (red) and for all bidders (includes investors) (green).  The combination of both is the total number of HUD Homes listed for sale in Central Ohio.   

The exact numbers are displayed in the table below.  They correspond to the ones we publish with new HUD Homes Maps every week. 

The first column (Date) is the date when HUD updates their website, i.e. every Friday morning. “New/Updated” shows new listings or price reductions.  In average we see between 20 and 30 new homes each week. This should also be the number of Columbus HUD Homes that go in contract each week.

As you look at the chart you see that there was a lot of bidding in the second half of November and early December, when homeowners took advantage of deals before the end of the year.  Overall there is less activity in December which usually is the slowest month of the year.

What should you expect for the first quarter of 2009?

1. There will be a steady supply of HUD Homes as the government tries to get rid of its ever growing inventory.
2. Many owner occupants will take advantage of lower prices and favorable financing terms exclusively offered for HUD homes (such as $100 down programs, and repair allowances paid for by HUD)
3. Properties in need of extensive rehab will drop in price significantly.  You will see more deals offered for below $10,000 and great opportunities for investors and landlords to expand their portfolio.

If you wish to keep up to date with Columbus HUD Homes and see updated maps every week, simply click the button below and subscribe to our email newsletter.  It is completely free and exclusive to our subscribers.

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

Technorati Tags: Columbus HUD Homes Realtor maps buying statistics

As we publish weekly maps of Central Ohio and Columbus HUD Homes we noticed that the number of available properties has increased over the past 30 days.  This is especially true for homes available to owner occupants. If you want to buy a new home, this is probably the best time of the year to submit your offer.

Below is a summary of Columbus HUD Homes offered for sale this week. The overall number of availabe homes has increased and more than 90 deals are currently limited for owner occupants. 

This means that only 37 homes are available to investors at this time. This number has actually decreased a little bit over the past few weeks, as investors took advantage of great deals and super discounts. 

However, owner occupants have a much larger selection and can get better financing terms than investors. Now that interest rates are approaching 4.5% and HUD offers financing with as little as $100 out of your pocket, you should seriously consider making an offer on a Columbus HUD Home.

Click the link below to receive weekly maps of HUD homes. We create these maps every Friday morning when new listings are posted by HUD – so you are the first to know which properties are new and you can submit an offer before anybody else.

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

Technorati Tags: Columbus HUD Homes Realtor maps buying statistics