Columbus HUD Homes

What has changed from a week ago?

At first glance the numbers are almost the same. The total number of HUD homes on the market has not changed since last week.

NHMSI added 29 new HUD listings, which means that 29 homes went in contract during the past 7 days. 80 homes are available to investors.

A nice HUD house in Orange Township (Lewis Center) just came on the market. It’s listed for $205,000 and offers 4 bedrooms with more than 2,200 sqft of living space.

The other suburban HUD home I want to mention to you is on Pyramid Falls Drive in Dublin. This one’s a free standing condo. It was sold to its original owner for $215K. Now it is priced at $179K.

Details will follow on Sunday!

Listing Statistics

Total homes available: 178 (last week: 178)

Owner occupants: 98
All bidders: 80
New listings: 29
Sunday deadline: 26
Relisted/Price reduced: 43

Median Price: $72,000 (last week: $72,000)
Average Price: $72,746 (last week: $73,063)
Highest: $205,000
Lowest: $9,000

Homes less than $50,001: 56 (last week: 56)
Between $50,001 & $100,000: 80 (last week: 85)
More than $100,000: 42 (last week: 38)

Call me today at 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

Are you looking for a nice, suburban home with acreage in the Columbus metro area?

Then two of the five HUD homes I previewed this weekend may be right for you.

The first one sits on a half acre lot in the middle of Upper Arlington on Wickliffe Road. Although this HUD house appears small, it is in excellent condition. It’s an absolutely gorgeous cape-cod style residence and comes with a finished basement. HUD offers this home for $162,000 which is around $20K below market.

The second HUD home comes with a one acre lot on Watt Road in Gahanna (serviced by Westerville Schools). This HUD house needs some work, however, it has lots of potential and is perfect for entertainment.  It features 2,245 sqft of living space, a large room addition to the back, 2 decks and an above ground pool.

Best of all, you will gain plenty of equity, if you buy this HUD home at the list price of $122,000. Similar homes sold for more than $200K!

Take a closer look at all 5 Columbus HUD homes of this week.

2500 Wickliffe Rd, Upper Arlington OH
2BR/1.0BA 1,012 sqft Asking $162,000

3749 Watt Rd, Gahanna, OH
3BR/2.5 BA 2,245 sqft Asking $122,000

5776 Heirship Ct, Hilliard OH
3BR/2.5BA 2,046 sqft Asking $170,000

8691 Clarksdale Dr, Lewis Center OH
3BR/2.5BA 2,555 sqft Asking $200,000

5555 Cedardale Dr, Westerville OH
3BR/2.5BA 1,546 sqft Asking $115,000

Call me at (614) 975-9650 – this is the best time of the year to buy a 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

It seems there is a never ending supply of HUD homes in some of the most desirable suburbs of Columbus.
 
This week I picked a huge, 2,600 sqft Pickerington home, a 2004 Lewis Center home near Polaris and another 2,000 sqft plus, 4 bedroom home in Canal Winchester. None of these Columbus houses is older than 7 years and they are all priced around $150K. Three remarkable deals in great suburban school districts – perfect for first time buyers and families with children.

Featured Homes of the Week

Click on the pictures below to get to the specific property websites and see inside and outside images, maps, school information, and more.

7857 IRIS CT, CANAL WINCHESTER, OH
List Price: $155,000  2,047 sqft  4 BR 2.5 BA

164 KNIGHTS BRIDGE DR E, PICKERINGTON, OH
List Price: $145,000  2,598 sqft  4 BR 2.5 BA

111 KASTLEKOVE DR, LEWIS CENTER, OH
List Price: $153,000  1,582 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!  

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

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

Just north of Little Bear Golf Course you can find this dramatic Columbus HUD home at 7501 Crossing Place. For the asking price of $180,000 – that’s only $82/sqft - you can get a 4 bedroom, 2,200 sqft home in Lewis Center, a desirable Columbus Suburb.

This HUD home is only minutes from shopping and dining at Polaris. Columbus houses in the area sell for around $240,000, so this home is definitely a steal!

The master suite is in prime condition. Bask in the soaking tub, and enjoy the large walk-in closet and double vanity sinks. The kitchen features oak cabinetry and blue countertops. Step outside to enjoy the warmer temperatues on your picket fence framed patio.

7501 Crossing Place, Lewis Center, OH

 
HUD OWNED Cul-De-Sac Home in Lewis Center
OFFERED for $180,000
CASE NUMBER 413-376103
BID DEADLINE: 4/5/09 for OWNER OCCUPANTS

Watch the video here:

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