Once again, most of the “nice” suburban homes went into contract for asking price. Columbus HUD homes that need little or no work will sell for above list price. Perfect examples are the listings on 5485 Willoughby St in the Dublin area and 3825 Mount Hood Ct in the Westerville area. 

Let’s take a closer look at th e bidding results of our featured Columbus houses:

5720 Dorsey Dr, Columbus OH 43235
Offer accepted on 12/14/09 for $150,000 with a net to HUD of $143,500.
exactly at list price
 
5485 Willoughby St, Columbus OH 43235
Offer accepted on 12/14/09 for $138,000 with a net to HUD of $134,005.
6% above list price
 
3825 Mount Hood Ct, Columbus OH 43230
Offer accepted on 12/14/09 for $97,500 with a net to HUD of $91,650.
19% above list price
 
5400 Bullfinch Ct, Westerville OH 43081
Offer accepted on 12/14/09 for $146,000 with a net to HUD of $141,620.
6% below list price

Also in contract, but for a nice discount:

3232 Legion Ln, Columbus OH 43232
Offer accepted on 12/14/09 for $68,900 with a net to HUD of $64,225.
23.5% below list price

5828 Westbank Dr, Galloway OH 43119
Offer accepted on 12/14/09 for $94,250 with a net to HUD of $89,075.
27.5% below original list price
 
Still available since it needs a lot of work, has structural and mold problems: 
4319 Valley Quail Blvd S, Westerville OH 43081
 
Today our subscribers received the bargain hunter list with 7 boomerang homes. Both Buckeye Lake homes (11917 Broad St, Millersport and 143 Elliott Dr, Buckeye Lake) are now available to all bidders. And so is the house on 1209 E. Long Street in Columbus, which is listed for only $18,000. I believe HUD is ready to accept lower offers on these deals.
 
On the high end there are listings at Woodwind Drive in Lewis Center (list price $170,00) and at 256 Pinecrest in Delaware (listed for $192,000). Both seem a little bit pricey. Buyers are probably waiting for a price reduction, which will happen, if nobody buys them within 30 days. Of course, you could also submit a lower offer now.

Call me and I’ll give you my best bet!

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

Congratulations Buckeyes! No disappointment with this football team. We are looking forward to the Rosebowl.

Now that football fever is over, you can enjoy the rest of this warm fall weekend to check out a few HUD homes, before winter descends upon us.  We have a great selection of large, suburban homes to choose from. Take a look at these top-notch Columbus houses, with 18 pictures each and a video presentation, and get excited about these exceptional home buying opportunities here in Central Ohio.

Once again we feature 5 Columbus HUD Homes – 3 on the North and West side, 2 in the Brice Road area.

5551 Covington Meadows Dr, Westerville, OH
4BR/2.5BA 2,158 sqft Asking $195,000

245 Emerald Ice Loop, Delaware, OH
4BR/2.5 BA 2,396 sqft Asking $184,000

2005 Friston Blvd, Hilliard, OH
4BR/2.5BA 2,520 sqft Asking $141,000

3100 Legion Ln, Columbus, OH
3BR/2.0BA 1,310 sqft Asking $93,000

3232 Legion Ln, Columbus, OH
 3BR/2.0BA 1,212 sqft Asking $95,000

Call me today 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

This week I selected two nice, suburban HUD homes in Delaware. These Columbus houses are very affordable and perfect for first time buyers. If you want to live north of Columbus in an upscale community without the big city traffic, you should definitely consider a Delaware HUD home.
 
Take another look at the exceptional, custom-built home I mentioned last week. It’s only 5 minutes from Delaware and sits on an 1.5 acre lot. This home is larger than our featured Columbus HUD homes, in superb condition, and offers real country living. Priced at $250K, you can buy this home with an FHA loan! Click on the picture for details!
 
VERY IMPORTANT: You only have 5 months left to close on your first home and claim the $8,000 tax credit. We already noticed a steep increase in interest rates last week. So please, don’t delay and take advantage of our terrific deals now!
 
Featured Columbus HUD Homes

197 STONHOPE DR, Delaware, OH
List Price: $140,000  1,912 sqft  4 BR 2.5 BA 

419 LACHANCE CT, Delaware, OH
List Price: $115,000   1,644 sqft  3 BR 2.5 BA

656 SALISBURY RD, Columbus, OH
List Price: $48,000   1,056 sqft  3 BR 2 BA

You can see more featured Columbus 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!
I’d be glad to answer 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

This week’s featured Columbus HUD Homes are worthy of a celebration for the Holiday Weekend! These 3 Columbus houses are suburban “mansions” with more than 1800 sqft of living space. Perfect for young families and first time buyers. Even better, you can purchase these HUD Homes at a significant discount!
 
Don’t miss out on these 3 great Columbus HUD homes:  

8557 ROBBINS LOOP DR, Reynoldsburg, OH
List Price: $145,000  2,200 sqft  4 BR 2.5 BA

796 DELONG ST, Pickerington, OH
List Price: $165,000   1,935 sqft  3 BR 2.5 BA

 
1300 FOUR STAR DR E, Galloway, OH
List Price: $148,000  1,802 sqft 3 BR 2.5 BA 

Previously featured HUD homes are still available for you to see at the following website: http://columbushudhomes.postlets.com
 
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

HUD listings hit a record low this week. Only 52 Columbus HUD homes are currently available for sale. HUD added only 8 new homes to the list today.
 
One of the new Columbus houses caught my attention this morning. It’s listed at 1023 Bernard Rd, Columbus, 43221, near Riverside Hospital and OSU. The asking price is only $45,000. 

Don’t drop everything and rush to this house! This deal was just too good to be true!
 
Unfortunately, the person listing this HUD home committed a couple of typos. Instead of Bernard the street name should be Bernhard. The zip code is wrong, too. It should be 43227.

I could not resist, I had to take a closer look. So we went out, found the correct HUD house, and took pictures. 
 
Click on the picture below to see where exactly it is located. I bet that most potential buyers won’t even find it – except if they read my emails!
 
You’ve got a definite advantage on this one!
 
Here it is:
The Mystery House – correct address:
1023 BERNHARD RD, Columbus, OH
List Price: $45,000 (sold for $138K in March 2007)

 


Looks like a really nice house, but it’s not anywhere near Upper Arlington.
 
Among the relists is a Columbus HUD home we featured in January on 158 Lofton Circle in Delaware. It already went through 2 price reductions. It is now listed for $116,000 that’s $30K less than the original price.

Listing Statistics

Total homes available: 52 (last week: 75)

Owner occupants: 33
All bidders: 19
New listings: 8
Price reduced: 25
 
Median Price: $59,700 (last week: $62,000)
Average Price: $67,760 (last week: $70,935)
Highest Price: $160,000
Lowest Price: $12,000
 
Homes less than $50,001: 21 (last week: 25)
Between $50,001 & $100,000: 19 (last week: 30)
More than $100,000: 12 (last week: 20)
 
You will find many newer suburban HUD homes priced just around $100,000. These are great opportunities for owner occupants! 
 
Call me TODAY at 975-9650, and let’s look at Columbus houses over the 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

Last weekend was cold and windy. Not very pleasant for house hunting. Today is quite the opposite. A perfect day to go out and look at all the gorgeous, suburban Columbus houses for sale. 

If you like to live in an open, modern Columbus HUD home in Westerville Schools, this one is for you. Built in 2001 it features a huge family room with cathedral ceilings. There is an open stairway leading up to the loft and 2 bedrooms. The kitchen is easily accessable and comes complete with all applicances.

From the first floor master bedroom you have a view of the wooded back yard and the creek. The basement is already half finished.
 
This home is truly a great value for the asking price of $130,000.

Click on the address for maps and 18 pictures:
5574 Westerville Circle, Westerville, OH 

HUD OWNED in Westerville Must See!
OFFERED for $130,000
CASE NUMBER 413-371118
BID DEADLINE: 3/15/09 for OWNER OCCUPANTS

Take a couple of minutes to watch the video:

Owner occupants will receive a $2,500 credit to cover closing costs and a $200 repair escrow.
  
 

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

You may not believe it when you listen to the news, but the market for suburban HUD homes is hot. Last week we reviewed three gorgeus homes in Pickerington, Gahanna and Westerville.  I would consider all three to be at the high end of HUD listings.

These three homes went in contract to owner occupants within a week. HUD accepted less than the asking price for one of the homes. The other two went in contract above list price.

There may be many Columbus houses on the market, but there is always competition for HUD Homes. Owner occupants have to pay the asking price or more to get the home they want, especially, if the property is in good condition and it’s listed below market value.

Unlike investors, owner occupants can count on many bonuses when they buy a Columbus HUD home. First of all, they receive $2,500 for closing costs, and a repair escrow, if the home needs work. They can also apply for $100 down financing with FHA. And to top it all off they may qualify for the $8,000 tax credit, if they are first time buyers. That’s a lot of strong incentives.

Let’s take a closer look at last week’s Columbus HUD homes:

4133 Nafzger Drive, Gahanna, OH
Appraised at $160,000, sale price $168,077, net to HUD $163,037 [101.9%]
Auditor $241,800 Previous Sale [6/19/02] $223,800

42 Grisby Lane, Pickerington, OH
Appraised at $141,600, sale price $145,000, net to HUD $133,400 [94.2%]
Auditor $158,500 Previous Sale [3/18/03] $175,775

7326 Pueblo Court, Westerville, OH
Appraised at $205,000, sale price $180,100, net to HUD $171,095 [83.5%]
Auditor $235,200 Previous Sale [7/10/02] $217,400

Let me explain what these numbers mean: The first value is the HUD appraised value (which is the original listing price), then we have the sale price and the net to HUD. In brackets you see the percentage of net price relative to appraisal.

As a buyer you are interested in the sale price, because that’s what you have to pay. HUD’s uses the net value to decide whether to accept an offer, because that’s the amount they receive from the sale. I also included the county auditor’s value, which appears high in all cases, and the previous sale of the house, which is the price the owner (who was foreclosed on) paid for the house.

The sales prices for Nafzger and Grisby are above their listing prices. This is probably the case because these 2 homes were offered below market value.  The offer on the Pueblo Court home is $25K below the list price. I believe that HUD appraised this home a little high. But the buyer certainly got a great deal on this Columbus house.

Suburban Columbus houses like the 3 we analyzed are great values for owner occupants. They are in high demand and usually sell quickly. We are assembling a database of Columbus HUD homes so we can better predict the net purchase offer HUD should accept. If you want to submit an offer, call me and I will help you develop a winning bid strategy.

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

Here is another suburban HUD home in Reynoldsburg. You’ll be happy with the condition of this property. The carpets are almost new. Kitchen and bathrooms don’t disappoint either! Relax in a Florida room attached to the back of the home or enjoy the large living room with fireplace, which is perfect for entertaining.
 
Click on the address for maps and 18 pictures:
8376 Ashlynd Place, Reynoldsburg, OH

HUD OWNED Reynoldsburg Home in Grade A condition
OFFERED for $160,000
CASE NUMBER 413-403144
BID DEADLINE: 3/8/09 for OWNER OCCUPANTS

Click here to watch the video:

 
Owner occupants receive a $2,500 credit at closing.
 
You have this week to make a decision – it’s still available for owner occupants till Sunday!
 
Call me today at (614) 975-9650 to get going immediately!
 
 

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