HUD Homes at Buckeye Lake and Last Week's Bidding Results
Many of the homes available to all bidders, including real estate investors, are outside the Columbus metro area. You should not limit yourself to the City of Columbus or its suburbs when you look for great deals. You can find even better buying opportunities in small cities 20 or 30 miles outside fo Columbus. On today's list you see homes in Newark, Lancaster, Ashley and so forth.
This may not be the time when you are thinking about living at a lake, but that's exactly where we found a couple of HUD homes at a bargain price. Two houses on today's bargain hunter list are at Buckeye Lake. They seem to be great deals.
The first one at 143 Elliott Ave is a small 2 bedroom home listed for only $45,000. It is listed as insured with escrow, so I assume it's in reasonable condition.
The other one may offer even more potential. The address is 11917 Broad Street in Millersport. It's a 3 bedroom, 1600 sqft house and has been on the market for more than a month.
Here's my insider tip: HUD will most likely relist this house on Friday for 10% below the current asking price of $70,000. After the relist, HUD should accept offers of $50,000 or even less, especially, if it does not go into contract with an owner occupant.
Now consider this: homes sold for $100 a sqft in this area. The Millersport house could be a tremendous deal with lots of equity, but it also would make a nice rental at a very desireable location.
Here's a summary of the bid results of the Five Gems on the East Side. All of them went in contract for more than asking price!
3578 Creek Meadows Dr, Pickerington, OH
HUGE 4BR/2.5BA 2,396 sqft Asking $150,000
Offer accepted on 11/16/09 for $161,515 - 7.7% above list price
8005 Eurogrey Ct, Blacklick, OH
3BR/2.0 BA 1,220 sqft Asking $99,000
Offer accepted on 11/16/09 for $101,002- 2.0% above list price
7837 Fairfax Loop Dr, Blacklick, OH
3BR/2.5BA 1,808 sqft Asking $113,000
Offer accepted on 11/16/09 for $122,000- 7.9% above list price
4205 Nafzger Dr, Columbus, OH
New Albany Schools, 4BR/2.5BA 1,877 sqft Asking $157,000
Offer accepted on 11/16/09 for $178,000- 13.4% above list price
3169 Thorndyke St, Columbus, OH
4BR/2.5BA 1,972 sqft Asking $101,000
Offer accepted on 11/16/09 for $112,211- 10.9% above list price
Call me at (614) 395-7375 and I will give you my best guess on what I believe HUD will accept.
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 http://ColumbusOhioHUDHomes.com
