I have a treat for you!

On Friday I picked 6 suburban Columbus HUD Homes to preview. I don’t always go for the most expensive or largest homes. I rather look for HUD homes that you, our readers, may like.

The six HUD houses you see below are all in the suburbs – in Hilliard, Galloway, Grove City and Reynoldsburg. These Columbus houses are 10 years old or less and 3 of them are larger than 2,000 sqft.

It’s always a surprise when you walk into a new HUD home. It may look perfect from the outside, it may even be listed as “insured” (for FHA financing), but the inside may tell another story.

That’s the case with the Hilliard HUD listing. It looks top-of-the-line based on its description and exterior appearance, but I found a lot of mold in the house.

Mold can be dealt with! It’s not the end of the world.

However, it will cost extra money. I believe that the Hilliard HUD house cannot be purchased with an FHA loan with repair escrow, as repairs will probably exceed $5,000. You may need a 203k rehab loan and it will take longer to get it closed. One of my preferred lenders can close 203k loans in 30 days, as long as contractor quotes are ready and all the other paperwork is submitted in time.

HUD is still eager to sell homes! The list price is not the price you have to offer for the house. Call me for a free consultation, and I will tell you how low you can go with your bid and still have an excellent chance to get your contract accepted.

Here are my 6 HUD picks of this Week!

5930 Heritage Farms Ct, Hilliard OH
4BR/2.5BA 2,347 sqft Asking $185,000

5866 Katara Dr, Galloway OH
3BR/2.5 BA 1,684 sqft Asking $130,000

5931 Westbank Dr, Galloway OH
4BR/2.5BA 1,648 sqft Asking $132,000

4524 Dungannon Dr, Grove City OH
3BR/2.5BA 1,594sqft Asking $115,000

7946 Windrift Pl, Reynoldsburg OH
4BR/2.5BA 2,455 sqft Asking $144,000

7138 Havencroft Dr, Reynoldsburg OH
4BR/2.5BA 2,229 sqft Asking $142,000

Call me at (614) 975-9650 to see the interior!

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

The quality and variety of Columbus HUD Homes is truly stunning. The featured HUD homes of this week prove this point. Today we take a round-trip along the Columbus Outerbelt (I-270) on the south side of the city.

On this tour you will find a 5 leve split home in Galloway, where the master bedroom has its own level. Its asking price is 25% below market value – so you better hurry up to grab this excellent deal. The home is only 5 years old and boasts more than 2,200 sqft of living space.

As we drive along I-270 to the East we pass Grove City and take a stop in Groveport to see a 3 bedroom home that comes with a first floor master. Finally, we proceed to Reynoldsburg to find a large brick ranch with a one car garage, a paved patio and shed in the fenced back yard.

All three Columbus houses are offered below market value, the Groveport home is listed as Insured which means it does not need any repairs to qualify for FHA financing.

When you are done with your Columbus roundtrip and are ready to take a break, go to downtown and relax at the Oktoberfest for great food, traditional music, and, of course, German Beer. Cheers! 

Here are my 3 featured Columbus HUD Homes:

5877 Westbank Dr, Galloway, OH
4BR/1.5BA 2,253 sqft Asking $135,000

3936 Highland Bluff Dr, Groveport, OH
3BR/2.5BA 1,392 sqft Asking $110,000

1543 Stouder Dr, Reynoldsburg, OH
3BR/1.0BA 1,098 sqft Asking $72,000

Call me at (614) 975-9650 to schedule a showing TODAY!

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

This past weekend the weather was beautiful – perfect for house hunting. Our readers had a head start with 3 new Columbus HUD home listings published on Friday. 
 
They are spread out over three suburbs, and each of them is priced under $150,000.  I am sure that one of them will be right for you! 
 
8402 Master Court, Galloway, OH
List Price: $145,000

 
8612 Firstgate Drive, Reynoldsburg, OH
List Price: $142,000

 
5525 Buxley Drive, Westerville, OH
List Price: $126,000

 
Now let’s see what sold on Sunday. Remember, Sunday is the deadline for owner occupants on 10 day listings. You may remember the 3 Columbus houses we featured a week ago. I titled the email a “HUD home for every taste and budget”, because of the variety in price and location of these houses. 
 
All three of them are now in contract. Here’s a summary of the bid results:
 
9090 Ridgeline Dr, Reynoldsburg, OH
List Price: $154,000
Purchase Price: $154,000
 
1541 Hopkings Ave, Columbus, OH
List Price: $40,000
Purchase Price: $45,200
 
82 S Warren Ave, Columbus, OH
List Price: $10,000
Purchase Price: $8,500
 
Finally, the Westerville condo we mentioned repeatedly is in contract for the third time:
 
538 Foxtrail Circle, Westerville, OH
List Price: $72,000
As-Is Value: $90,000
Purchase Price: $69,750 

As you can see, HUD Homes go fast these days. I expect this will continue at least until Memorial Day.

Call me at (614) 975-9650, if you like these HUD homes and lets submit an offer!  

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

Today, I want to bring your attention to two re-listed (boomerangs) Columbus houses. Both homes are available for bidding by owner occupants till Tuesday, 4/14/09 at midnight. Better hurry!
 
Read to the end – I have a great BONUS HOME for you!
 
The first “boomerang” is a 4 BR/2.5BA Dominion built Columbus HUD home in Galloway Ridge. It has a very practical layout and is just north of W Broad St. Click the picture for more details. 
 
476 Belfair Dr, Galloway, OH

 
The other “boomerang” HUD home is now listed for the 3rd time! Looks like it fell out of contract twice, hopefully the 3rd time is the charm! This is a very nice condo end-unit in Westerville, complete with all appliances offered for only $72,000. Buying this condo is cheaper than renting a comparable property, and if you are a first time home buyer, you will get a 10% (up to $8,000) income tax credit, too!
 
538 Foxtrail Circle, Westerville, OH

 
If you would like to see previously featured HUD homes that are still on the market, simply follow this link: http://columbushudhomes.postlets.com 
 
Here is a BONUS Relisted Columbus HUD Home for you. We did not feature this home before, but it is an exceptional deal. Homes in this subdivision sell for $200K and more. Click on the picture – you won’t believe what it’s listed for. 

131 Dogwood Dr, Delaware, OH  —  4BR/2.5BA Single Family House

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

There are only 8 new HUD listings this week. Not much to choose from. But we decided that this Galloway home is the Deal of this Week.
 
This Columbus HUD home was built in 2002, features 4 bedrooms, a family room with fireplace, a huge master suite and a concrete patio in the back. The previous owner started to frame the basement. It’s ready for you to finish.
 
Best of all this HUD home is a great value and in very good condition. At the current asking price of $125,000, you can buy it for $50,000 less than the previous owner paid the builder and similar Columbus houses sell for.
 
Click on the address for maps and 18 pictures:
476 Belfair Dr, Galloway, OH

HUD OWNED Tucked Away in Galloway
OFFERED for $125,000
CASE NUMBER 413-393919
BID DEADLINE: 3/29/09 for OWNER OCCUPANTS
 
Click this link to watch the video:

 
Owner occupants will receive a $2,500 credit to cover closing costs.
 
Call me today at (614) 975-9650 and let’s schedule a showing! 

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

The trend continues! More and more upscale Columbus HUD homes are becoming available for owner occupants, while the number of properties for investors dropped to only 39. HUD added 26 new Columbus houses this week. The average listing price jumped to $83,449.

There are great deals to be had, if you are a little patient! Let me tell you about a ridiculously low offer HUD accepted on a Hilliard Home. We personally looked at this home - it’s at 5805 Thorngate Dr - Galloway address, but Hilliard schools.

Here’s the story. This Columbus HUD Home was appraised and listed by HUD for $164,000 starting early January 2009. Retail property values in this subdivision are $175,000, so it was a good offer for an owner occupant. The house did not need much work and was basically in move in condition. HUD accepted an offer on Jan 26, 2009 for a little over asking price. HUD would net 95% of appraised value.

The new buyer scheduled a property inspection, and for that purpose, utilities had to be turned on. As soon as the main switch was on, water came down through the dining room ceiling. Some of the bathroom pipes and seals must have broken, which would require a couple thousand dollars in repairs.

Next a 60 mph storm swept through Columbus and some patches of shingles flew off the roof. The buyer requested a higher repair escrow which HUD did not approve. So the buyer cancelled the contract.

HUD relisted the property immediately. Within one week they accepted $125,000 from another buyer. That is $40,000 less than the previous offer! Wow!

Congratulations to the new buyer! This is a wonderful deal. You go this house for 77% of HUD’s appraised value.

Just shows you – it’s worth being patient. We see it every week. When a house is relisted, and if there is some indication of water damage, HUD is giving it away!

While many suburban homes sell for more than asking price during the first 10 days, it is better to wait and see if a property falls out of contract. That’s when you get the really great deals.

Listing Statistics

Total homes available: 117 (last week: 120)

Owner occupants: 78
All bidders: 39
New listings: 26
Price reduced: 52
 
Median Price: $79,000 (last week: $70,000)
Average Price: $83,449 (last week: $78,588)
Highest Price: $209,000
Lowest Price: $4,500
 
Homes less than $50,001: 35 (last week: 41)
Between $50,001 & $100,000: 46 (last week: 48)
More than $100,000: 36 (last week: 31)
 
 
The new $8,000 tax credit is a great incentive to buy a home this year. Owner occupants also get a $2,500 closing cost credit from HUD, and may qualify for $100 down FHA financing.
 

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

The second Columbus HUD Home of this week offers some unique features: a multi-level covered deck with an integrated pool. Enjoy unobstructed views off both levels of the deck. There are no backyard neighbors. Lay by the swimming pool, summer is just a few months away!

This Columbus home features 3 bedrooms on the second floor with a full bathroom. The eat in kitchen offers a lot of natural light, and views of the back yard. There is a finished basement with family room, half bath, a 2 car garage and a fenced yard.
 
Click on the address to see all 18 pictures of this fantastic home:
5960 Ginseng Court, Galloway, OH 

HUD OWNED Beautiful decks & Pool
OFFERED for $105,000
CASE NUMBER 413-392466
BID DEADLINE: 2/8/09 for OWNER OCCUPANTS

Don’t miss the video:
 

Owner occupants will receive a $2,500 credit at closing as well as $5,280 for repairs. Bidding is still open for owner occupants till Sunday Feb 8, 2009. 

Pretty Columbus Houses like this one sell quickly, so call me today to take a look at this Galloway HUD Home! 

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