Columbus HUD Homes » Grove City

The Best 6 HUD Homes In Suburban Columbus

Susanne Novak — Sun, 05 Sep 2010 13:49:14 +0000

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

Gorgeous HUD Homes In Western Suburbs

Susanne Novak — Sun, 27 Jun 2010 13:47:20 +0000

I have a treat for you!

This weekend I am previewing some of the most exciting HUD homes deals in suburban Columbus. We’ve got them all: from Lewis Center in the North, through Dublin and Hilliard, down to Grove City, where you can find the largest HUD house of the year.

I mentioned it in my previous post, but it’s worth repeating. The HUD house at Cooper Ct in Grove City is 3,370 sqft large, with 4 bedrooms, 3 full and 2 partial bathrooms, a 3 car garage and cherry wood kitchen cabinets.

If you are looking for an upscale, executive home at a great price, then don’t miss this one!

Call me today! I can give you tips on how much you should offer to win your bid!

Here are my 5 HUD picks of this week!

275 Conner Ln, Lewis Center OH
3BR/2.0BA 1,666 sqft Asking $120,000

6013 McCotter Road, Dublin OH
3BR/2.5 BA 1,897 sqft Asking $112,000

5601 Fescue Dr, Hilliard OH
3BR/2.0BA 1,666 sqft Asking $118,000

2054 Emerald Way, Grove City OH
3BR/1.5BA 1,642 sqft Asking $108,000

5825 Copper Ct, Grove City OH
4BR/3.5BA 3,370 sqft Asking $234,000

Call me at (614) 975-9650 – I will take good care of you and your family!

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

Move-In Ready HUD Homes in Suburban Schools

Susanne Novak — Sun, 04 Apr 2010 17:27:48 +0000

I hope you are enjoying this beautiful Easter Weekend with your family!

I was out and about on Friday and picked the 6 Columbus HUD homes you can see on this page. They are in various suburban school districts. I am sure one of these Columbus houses is right for you!

Over the past few weeks I noticed that HUD really favors owner occupants. Owner occupants get lower offers accepted than investors. Contracts below 75% of list price were approved, if there’s no competition, i.e. only one bid.

Investor bids on Columbus HUD homes, on the other hand, may get turned down at 80% of list price. As an investor buyer, you have to be very patient. Hang in there and wait for the next price reduction. If HUD can’t find an owner occupant buyer, they may ultimately accept your offer.

As always – there are no guarantees!

Enjoy my six featured Columbus HUD homes for this Easter Weekend:

3809 Williams Nook, Grove City, OH
3BR/2.5BA 2,282 sqft Asking $148,000

4684 Michael Pl, Grove City, OH
4BR/2.5 BA 2,318 sqft Asking $165,000

8620 Robbins Loop Dr, Reynoldsburg, OH
3BR/2.5BA 1,838 sqft Asking $137,000

1777 Gardenstone Dr, Columbus, OH
3BR/2.0BA 1,274 sqft Asking $126,000

803 Cedar Run Dr, Blacklick, OH
3BR/2.5BA 1,892 sqft Asking $165,000

744 Solaris Ct, Blacklick, OH
3BR/2.0BA 1,140 sqft Asking $112,000

Give me a call at (614) 975-9650 – I’d like to help you find the best home for your family.

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 house sold in 2004 for $145,900 and went into contract 9 days after it was listed. Current comps are $138,000.

Affordable HUD Homes in Suburban School Districts

Susanne Novak — Sun, 18 Oct 2009 12:11:26 +0000

The four Columbus HUD Homes I feature today are all in suburban school districts. Two of these homes are serviced by Westerville Schools and are very affordable for the area, albeit they are older homes. The Reynoldsburg house on the other hand is only a few years old and very spacious.

As a bonus I added the Grove City ranch I mentioned on Friday. It’s listed for less than $50K in an area where the typical home sells for $95,000. You really need to take a look at our exclusive pictures – the paint job in the bedrooms and bathrooms is unique.

All featured Columbus houses come with 18 interior and exterior pictures and a video.

Here are the 4 featured Columbus HUD Homes:

5248 Mardela Dr, Westerville, OH
3BR/1.5BA 1,312 sqft Asking $125,000

3470 Steiner St, Columbus, OH
3BR/2.5BA 1,278 sqft Asking $85,000

904 Sandrock Ave, Reynoldsburg, OH
3BR/2.5BA 1,940 sqft Asking $155,000

BONUS Feature: Cheap Ranch in Grove City:

3277 Ventura Blvd, Grove City, OH
3BR/1.0BA 960 sqft Asking $47,000

Call me at (614) 975-9650 or email with your questions.

Hurry! There’s still a slim chance to get a HUD offer accepted and close before December 1, 2009 to secure the $8,000 first time buyers tax credit!

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

Suburban Columbus HUD Homes Listed Far Below Market Value

Susanne Novak — Mon, 10 Aug 2009 13:29:25 +0000

Last week I participated in a white water rafting trip down the New River near Fayetteville in West Virginia. If you need more excitement in your life and are not afraid of getting wet, then you should do one of these trips. It’s 6 hours of pure fun.

The outfitter I recommend is Class VI. They have the most experienced guides, offer very nice facilities, luxury cabins and even a gourmet restaurant.

For those of you who prefer house hunting, I found 4 really nice, suburban Columbus HUD homes . The first three are listed at least $25,000 below market value. So don’t delay and call me to see these wonderful Columbus houses before someone else snaps them up!

Featured Homes of the Week

Here are our featured HUD listings for this week. They are spread out all over the Columbus outerbelt. Click on the pictures below to get to the specific property websites and see interior and exterior images, maps, school information, and more.

6888 BETHANY DRIVE, Westerville, OH
List Price: $170,000 2,334 sqft 4 BR 2.5 BA

709 PETIGREW DR, Reynoldsburg, OH
List Price: $120,000 1,645 sqft 3 BR 2.5 BA

5492 FOREST GLEN DR, Grove City, OH
List Price: $155,000 2,240 sqft 4 BR 2.5 BA

429 RUFFIN DR, Galloway, OH
List Price: $132,000 1,610 sqft 3 BR 2.5 BA

You can see more previewed HUD homes at our website: http://columbushudhomes.postlets.com

Here you will also find a complete and up to date list of all featured HUD homes that are still open for offers, including relisted properties.

Call me at (614) 975-9650 – I can help you find a great deal on a HUD home, bank owned or short sale listing!

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

A Record – 31 New Columbus HUD Homes Listed

Susanne Novak — Sat, 08 Aug 2009 21:31:41 +0000

This will be a great weekend for HUD Homes shopping. We have a record number of new HUD listings. Best of all, most of the new listings are in the suburbs. As usual, Grove City is leading the pack, closely followed by 6 new Columbus houses in the Newark area.

The most expensive home of this week is at 471 Highbanks Valley Dr in Newark (near Granville). It is listed for $187,000 and comes with 2,254 of living space, 4 bedrooms and was built in 2003.

There are only 19 relists. The price of the home at 191 W. Hiawatha Dr in Powell was reduced by $20K to $176,400.

If you are looking in the suburbs, you will find a great selection on today’s HUD Homes map. There are also new HUD houses in Hilliard, Westerville and Pataskala.

Listing Statistics

Total homes available: 66 (last week: 46)

Owner occupants: 50
All bidders: 16
New listings: 31
Relisted/Price reduced: 19

Median Price: $75,000 (last week: $74,000)
Average Price: $78,892 (last week: $75,395)
Highest Price: $187,000
Lowest Price: $6,000

Homes less than $50,001: 21 (last week: 15)
Between $50,001 & $100,000: 25 (last week: 17)
More than $100,000: 20 (last week: 14)

Call me TODAY at 975-9650 to see the newest Columbus HUD Homes this weekend!

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

North to South with 3 Columbus HUD Homes

Susanne Novak — Tue, 14 Jul 2009 20:10:40 +0000

First, I would like to answer another question from one of our readers:

Question: How good a credit score do you need to qualify for buying a HUD Home?

Here’s our answer:
Your credit score is only important, if you try to get a bank loan to finance your HUD home. The credit score does not have anything to do with the home purchase itself, only with the financing of the home. For a cash purchase, all you need is proof of funds (bank statements in your name showing that you have enough money in the bank).

In order to get an FHA loan, most banks are looking for a credit score of 620 or higher. I do have lenders who will underwrite a loan with a 580 score. Contact me for details. In addition, proof of alternative credit (e.g. utility payments, car payments and rent payments made on time for the past 12 months) will help you overcome a lower score.

For conventional loans, banks look at credit scores of 680 or higher, and will require a downpayment of 5% to 20% of the purchase price.

Featured Homes of the Week

The 3 Columbus HUD homes we decided to feature this week are on a North to South axis, starting with a large home in Lewis Center, leading us south to Grove City and Groveport. All 3 Columbus houses are newer, suburban residences and very good values for first time buyers.

9073 MISTY DAWN DR, Lewis Center, OH
List Price: $175,000 2,286 sqft 4 BR 2.5 BA

726 SCIOTO MEADOWS BLVD, Grove City, OH
List Price: $162,000 2,078 sqft 3 BR 2.5 BA

4452 LANDMARK RD, Groveport, OH
List Price: $128,000 2,112 sqft 4 BR 2.5 BA

You can see more previewed HUD homes at our website: http://columbushudhomes.postlets.com

Here you will also find a complete and up to date list of all featured Columbus HUD homes that are still open for offers, including relisted properties.

Call me at (614) 975-9650!

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

Father’s Day Special: Two HUD Homes at Opposite Parts of Town

Susanne Novak — Tue, 23 Jun 2009 11:23:45 +0000

Happy Father’s Day 2009! I hope you get a chance and take the day off, relax and maybe check out some of the great Columbus HUD homes we feature on this blog.

For this weekend I found 2 Columbus houses you may want to look at. They are at opposite parts of Columbus, though. The first is an almost new 4 bedroom home in the Gahanna School district, the second one a ranch in the Riverbend subdivision in Grove City.

Featured Columbus HUD Homes

1750 BLUHM RD, COLUMBUS, OH
List Price: $48,000 952 sqft 3 BR 2.5 BA

6914 ONYXBLUFF LN, GAHANNA, OH
List Price: $147,000 1,957 sqft 4 BR 2.5 BA

You can see more previewed HUD homes at our website: http://columbushudhomes.postlets.com

Here you will also find a complete and up to date list of all featured HUD homes that are still open for offers.

Call me at (614) 975-9650!
Ask me all your real estate questions!

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 Saga of a Yo Yo HUD Home and New Listing Stats

Susanne Novak — Sat, 13 Jun 2009 01:46:59 +0000

I can’t believe what happened. The Edgarton HUD Home I mentioned in my recent post has been relisted this morning. HUD accepted a $115K offer on Wednesday, but somehow the buyer did not come through. Now it’s back on the market for owner occupants for 5 days. This may be your third chance to get it!

You may wonder why Columbus HUD homes get relisted only 2 days after they went in contract? There are different reasons: maybe the prospective buyer did not realize that the house was uninsured (which means no FHA loans) and had to cancel the offer, or the realtor did not submit the paperwork in time (you only have 48 hours after the offer was accepted to get all your originals to NHMSI).

There are 21 new HUD listings this week. On top of it you’ll find 54 relisted Columbus houses, including suburban homes we featured before.

If you like Powell you should take a look at the property on 6360 W. Mohican Dr. It is available to all bidders. At a list price of $190,000 it’s too expensive. But HUD may soon consider lower bids to move this home.

Listing Statistics

Total homes available: 86 (last week: 74)

Owner occupants: 75
All bidders: 11
New listings: 21
Relisted: 54

Median Price: $61,600 (last week: $71,500)
Average Price: $67,206 (last week: $76,961)
Highest Price: $190,000
Lowest Price: $5,000

Homes less than $50,001: 36 (last week: 28)
Between $50,001 & $100,000: 34 (last week: 21)
More than $100,000: 16 (last week: 25)

Call me TODAY at 975-9650 to schedule showings for this weekend!

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

Grove City HUD Home Back in Contract after 2 Cancellations

Susanne Novak — Thu, 11 Jun 2009 13:29:59 +0000

Although we never featured the HUD Home at 4563 Edgarton Rd in Grove City on our blog, I still want to point it out to you. I have seen the inside and know that it is a good deal for a buyer. Yesterday (Wed) it was still listed for $140,000, and I predicted in my email to our readers that “HUD will probably accept $120,000 or less.”

Here we go! HUD accepted an offer of $115,000.

This home fell out of contract 2 times in a row. On top of it, HUD changed the status to FHA uninsured, which means that you can’t buy it with a regular FHA loan or VA loan any longer. This eliminates 90% of the buyers. Less competition for you as a buyer and fewer offers for HUD.

The graph below shows what happened. With each offer the price went down and HUD got more eager to get rid of the home.

The most recent (third) bidder got it for 82% of asking price. This may not sound like the greatest deal in the world until you check comparable sales. Based on my analysis the retail value of similar Columbus houses is $160,000, so the real discount is 28%, which makes it an excellent deal.

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