We will be attempting to highlight our new bank owned/REO/Foreclosure listings as they come up. Keeping up may be a challenge, as we are expecting many, and they seem to be going into contract rather rapidly. I had recently heard that the banks have a “shadow inventory” of homes, meaning they have thousands of homes that they have taken deed to after Sheriff’s sale, but have not yet put on the market, possibly to allow the inventory to slowly be absorbed into the market, as opposed to dumping them, thus driving down the values. So housing news is good, but there are still many foreclosure homes in Columbus that are “waiting in the wings”.
Back to our subject property. This home is on the east side of Columbus, OH, just off Noe Bixby Road, in the Walnut Bluff subdivision (Columbus city schools). This looks to be already in contract, after just a few days, due to being aggressively priced at $35,900. This is rehabbers/handyman special. Looks to need a new roof, soffits, gutters, new flooring, some doors, new kitchen, bathroom repairs, and some other basics. And make sure you check out the commode (or throne) in the lower level bathroom/utility room – quite a vantage point!
But a solid 3 bedroom split level that will probably be looking pretty sharp in the next few months. Some very comparable homes in this neighborhood have sold for in the $80′s (k), and one complete rehab sold for $99k back in May.
