Did you ever wonder what the future will hold for HUD homes buyers?

Listen to this interview with HUD Secretary Shaun Donovan as he discusses the future of housing in the USA.

For a detailed analysis of this interview and commentary by real estate professionals read this article on Agent Beat.

Now that’s hard to believe!

According to a report by the Wall Street Journal “HUD ran out of money to pay lawyers or other closing agents who manage the sales of properties”. They had to delay closings of HUD homes already in contract and re-negotiate service contracts with vendors.

The good news is that the problems were centered around the New England region. More than 500 homes were affected. Here’s a link to the full article: Realtors Steamed About HUD Foreclosure Delays

And I thought the Feds have the printing presses.

This situation is not new. We experienced similar problems in Columbus a year ago, when HUD was unable to complete the sale a number of Columbus houses due to difficulties with their service contracts. Just one more frustration for buyers and agents when dealing with HUD homes.

You can imagine that realtors are not happy about it. The NAR (National Assoc of Realtors) even fired off a press release calling it a “nonsensical situation”.

Rightfully so! The demand for HUD homes and other foreclosed properties is strong. Now is a great time to sell HUD’s inventory of homes, which they inherited from the mortgage crisis. They should really do everything they can to liquidate their HUD houses and recover the money for us tax payers.

Realtors are eager to help. HUD homes have provided a consistent source of listings for many Columbus brokerages, as they try to survive this terrible real estate market.

Let’s hope that HUD gets their budget in order before the Feds are running out of money. Because if they are defunded, HUD will be one of the largest home owners in the country, but don’t have the funds to sell their inventory. I guess that’s how many home owners feel these days, too.

I am not superstitious, but isn’t it strange how often the 13th day of a month falls on a Friday? Maybe this is your lucky day …
 
There’s a good selection of new HUD listings. Five are on the southwest side, three in the City of Newark and then there’s one in Worthington. This is rare – I don’t remember seeing many HUD homes in Worthington.
 
On the map you’ll find 11 relists, one of them at 4529 Parkwick Drive in the Grove City area. It is offered for $85,500, which sounds like a good deal. However, there’s a huge transmission tower in the backyard and it is really close to I-270, so you’ll have to deal with a lot of highway noise.
 
On the cheap side, the 3 bedroom home at 146 N Burgess on the Hilltop sold to an owner occupant for $6,457. That’s more than double the asking price of $3,000.
 
The 130 year old brick home on 1155 E. Rich Street is still listed for $9,000. And so is a house at 1603 Minnesota Ave in Linden.
 

Listing Statistics

Total homes available: 66 (last week: 76)

Owner occupants: 47
All bidders: 19
New listings: 15
Sunday deadline: 21
Relisted/Price reduced: 11
 
Median Price: $70,000 (last week: $67,500)
Average Price: $71,355 (last week: $71,663)
Highest: $162,000
Lowest: $9,000
 
Homes less than $50,001: 24 (last week: 28)
Between $50,001 & $100,000: 27 (last week: 33)
More than $100,000: 15 (last week: 15)
 
Call me TODAY at 975-9650 to see the newest 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

With the exceptional selection and variety of Columbus HUD Homes available this week, I decided to preview a total of 6 suburban HUD Homes instead of the usual 3. 

For each featured home I created a property website, took 18 pictures and created a video. No other Columbus realtor is providing you with this information. If you read my blog, you don’t worry about the rainy weather. You can enjoy the best Columbus HUD homes from the convenience of your home.

Three of today’s featured HUD homes are in Pickerington. Althought this beautiful suburb had its share of HUD listing over the past year, today’s homes are special. They are located in newer subdivisions and priced between $125K and $155K.

I also included the New Albany HUD home we mentioned on Friday. There are not too many HUD homes in this upscale, north eastern suburb.

We round off today’s previews with a relisted Galloway ranch and a split-level home in the Westerville school district for only $80,000.

Here they are our 6 unique Columbus HUD Homes:

441 Carver St, Pickerington, OH
3BR/2.5BA 1,892 sqft Asking $155,000

776 N Starr Dr, Pickerington, OH
3BR/2.5BA 1,932 sqft Asking $125,000

998 Gray Dr, Pickerington, OH
3BR/2.5BA 1,981 sqft Asking $155,000

5981 Twin Pine Dr, New Albany, OH
3BR/2.5BA 1,862 sqft Asking $185,000

5828 Westbank Dr, Galloway, OH
3BR/2.5BA 1,813 sqft Asking $130,000

4505 Wrangell Pl, Columbus, OH
Westerville Schools
3BR/1.5BA 1,260 sqft Asking $80,000

Don’t miss out on these wonderful HUD homes.

Call me at (614) 975-9650 to 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

Today’s featured HUD listing is 15 years old, located in the Walnut View subdivision on the far east side of Columbus. This charming stone front hudhome features a vaulted great room with overlooking loft. The open floor-plan compliments the first floor master suite. It also comes with a 3-car garage.

Click on the address below to view all 18 pictures:
2721 Barrows Road, Columbus, OH

HUD OWNED 3 BR w/Loft & 3 car Garage
OFFERED for $82,000
CASE NUMBER 413-369493
BID DEADLINE 1/25/09 for Owner Occupants
 
Watch the video to see the inside:

 
Bidding is open for owner occupants till Sunday Jan 25, 2009. This Columbus HUD Home has many nice upgrades – take a look at it.

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