Crip's HUD Report 6-26-2009 - Greeley Extravaganza

Hey everybody. If you have a hankerin' for some Greeley stuff, look no further. However, there is one exceptional (and increasingly rare) Fort Collins HUD any owner occupant should look at, as well as a Windsor listing none but the brave should tackle. Check 'em out in...

NEW HUD LISTINGS FOR 6-26-2009
Click for ordered pics of this week's listings!

Clicking on the little pictures below will take you to each property's details page and condition report. In case you didn't know.

1. 6709 Autumn Ridge Dr #3, Fort Collins: $105,000. 2 bed, 2.5 bath, 1176 sq ft, 2003. Totally FHA insured, this one is also fully equipped appliance-wise,
   
   including hip, converted coin-operated washer and dryer.
   
   This place needs a little bit of paint (check out that blue wall)
   
   and minor drywall repair, but other than that it is ready to go. I like the layout of this one too - the bedrooms are dueling master suites, each with its own full bath and huge walk-in closet. Plan on this one getting plenty of bids, but please don't let it dissuade you from calling us to put one in if you're an owner occupant. Assessed for $148,800. Check out the video walkthrough:
   
2. Relist: 240 Rochester Dr, Windsor: $131,400. 3 bed, 1 bath, 1250 sq ft over full unfinished bsmt, 1996. This ranch over unfinished basement was first listed on April 4th, 2008 and has been through three contracts and one tornado. Why does it keep coming back on the market? The blame can be shared by mother nature, a-tad-too-hopeful buyers, inept agents and perhaps a lousy appraisal. Not all at the same time mind you, but please be aware this house looks fine structurally and I can pretty much guarantee you it is not. And the inside, well,
   
   let's just say it's amongst the most disgusting I've seen - and I've seen a lot. Assessed for $138,257. Check out the video walkthrough:
   
3. 110 16th Avenue, Greeley: $45,000. 3.5 bed(!), 1 bath, 1040 sq ft, 1969. Located literally next door to our little bargain at 104 16th Avenue, this place is larger, has a nice, oversized 2 car garage and a monstrous fenced yard.
   
   It isn't without its funkiness, like a mishmash of flooring throughout the house
   
   (and zero carpet) and a bedroom so small and angular that HUD chose to simply ignore it. Assessed for $63,006. Check out the video walkthrough:
4. 3033 W 13th ST, Greeley: $88,000. 4 bed, 2 bath, 965 sq ft over 965 mostly finished, 1969. This was the pleasant surprise of the bunch. It is listed, in typical HUD fashion, as a 2 bed, 1 bath and of course features the other rooms in the basement. The carpets need to be replaced throughout, the kitchen needs an overhaul and the basement shows some signs of leaky windows. So why is it a pleasant surprise? The corner lot and its location across from a church rocks, there's an RV pad and second driveway in the backyard off of 30th Ave, it has some nice landscaping and the neighborhood is totally stable. Assessed for $116,333. Check out the video walkthrough:
   
5. 2027 Wedgewood Dr, Greeley: $54,000. 3 bed, 1 bath, 1116 sq ft, 1978. My the times have changed. Every past listing in Wedgewood used to start in the $90s, then the $80s, then, well you get the picture. I can happily say this one was low on my list of 'must-sees' but it is actually a pretty nice house.
   
   
   And with some exterior maintenance this one would quickly increase in value. If this one makes it past the owner-occupant phase (which it probably won't) I'd consider this one as a rental in a heartbeat. Assessed for $80,207. Check out the video walkthrough:
   
6. 1031 E 24th ST RD, Greeley: $76,000. 3 bed, 1 bath, 925 sq ft over 925 unfinished, 2001. As you'll see on the video, there's a common and completely stupid design element to all ranches in this East Memorial subdivision: the basement stairs are literally a couple of feet directly beyond the front door. So, if your tipsy neighbor knocks on your door and you open it a wee bit fast for him, he's likely to go tumbling into your basement. The quick (and not-so-attractive) fix in this house meant throwing a gate in front of it.
   
   
   Hey, at least they were proactive about it. Or perhaps they had one too many guests fly down the stairs. We'll never know. Assessed for $81,472. Check out the video walkthrough:
   
7. 4002 Golden Street, Evans: $40,000. 2 bed, 1 bath, 1197 sq ft, 1953. Another surprise. This ranch is long on charm and has the kind of moxie you'd look for in a good rental property. It doesn't have a garage (and the second living room looks like that's what it was at one point) but it is bordered by a quiet horse pasture on its south side. There's hardwood floors in the two bedrooms and main living room, and a 3/4 bath in fantastic shape. The kitchen is missing the appliances but is in otherwise good shape. And for exterior storage there are two sheds in the backyard. Consider this one. Assessed for $56,777. Check out the video walkthrough:
   
8. Price Reduction: 39340 Blvd D, Eaton: $48,600. 3 bed, 2 bath, 1296 sq ft, 1999. Erica made it out to this place, so now I can very accurately tell you it is a trailer that sits on over half an acre. It also has a gigantic detached garage. Don't plan on getting an FHA loan on this one. Assessed for $158,669.

That's going to do it once again, hope you enjoyed reading and watching! Suggestions are always welcome. I look forward to hearing from you if you are looking to buy OR sell! And if you know anyone that would benefit from our service and would like to receive notice when the HUD Report is updated, please contact me. Thanks for reading, have a wonderful week!

Crip Erickson
Broker Associate
Realty Executives
208 S College Avenue
Fort Collins, Colorado
970.988.5634
970-221-3627 fax

Crip's HUD Report 6-19-2009: All fresh!

Greetings HUD fans. If you've joined us before, you know we're all about the careful balancing act of making fun of our inventory whilst extolling its virtues. I think you'll find plenty of this on display in this week's. . .

NEW HUDS FOR 6-19-2009
Click for this week's pics of all the inventory (in order!)

Clicking on the little pictures below will take you to each property's details page and condition report. In case you didn't know.

1. Price Reduction: 262 30th Avenue, Greeley: $50,400. 3 bed, 2 bath, 1092 sq ft, 1997. This manufactured home in northern-ish Greeley is now on its 2nd price reduction, and may continue to plummet in price. Why? FHA loans aren't an option. Additionally, HUD offers the following remarks: "Manufactured home with a post & beam foundation, however it is not permanently anchored to the foundation, take appropriate action. Repair damaged vinyl siding in various areas. Roof shingles are damaged. Replace missing toilet, damaged bath tub. Repair damaged furnace." What - that's all you got? On the positive side, the house appears to be in decent shape cosmetically, and its location on the end of the 30th Avenue cul-de-sac is positively divine. All right, so perhaps I'm stretching a bit. Assessed for $73,558. And let's play What Else Could I Buy? for all of these places. Let's see, 262 30th Avenue? Or a BMW Z4?
2. 1903 6th Street, Greeley: $43,000. 3 bed, 1 bath, 1008 sq ft, 1956. Erica writes: "This was definitely the most surprising house out of the 4 Greeley ones I went through this week. The upstairs is once again a combo of hardwood and linoleum. The hardwood is actually in decent condition and is definitely salvageable. There are three bedrooms upstairs (one with crazy HUD paint), as well as a bathroom that could even pass as usable. The kitchen is, you guessed it, missing all appliances. The surprise came in as I was walking cautiously downstairs. There is a full basement, but the way the layout is makes it seem like it has more square footage than the upstairs. There are two more (dark) bedrooms downstairs as well as another kitchen with no appliances, a family room, and a bathroom. The kitchen cabinets downstairs may even be nicer then the upstairs ones. The backyard is spacious and includes a 2 car detached garage. This little gem is also in a decent neighborhood that seems to have tons of garage sales on Friday." Assessed for $136,212. So, 1903 6th Street? Or a Brioni suit?
   
3. 1426 5th Street, Greeley: $27,000. 2 bed, 1 bath, 1032 sq ft, 1904. Erica: "This would be the other $27,000 HUD home listed this week. I would say it was generally in better condition than the house on 304 14th Street. The carpet is extremely dirty, but is only located in the main family room and one of the bedrooms. There are actually three rooms, though one does not have a closet. The other two bedrooms have hardwood floors that look like they could be refinished, and also share that ever popular walkthrough closet. The kitchen and bathroom appear to be in decent condition, though the kitchen is missing all appliances. On the plus side there is a washer and dryer though your guess is as good as mine if they actually work. On the negative side of things this house is located along a busier street. There is also what the appraisal considered a crawl space, but could almost be perceived as a basement type area." Assessed for $65,079. So, 1426 5th Street? Or your phone bill? No video of this one.
   
4. 304 14th Street, Greeley: $27,000. 2 bed, 1 bath, 704 sq ft, 1920. Erica: "As guessed this $27,000 HUD home lives up to it's price. The neighborhood is not bad though, which is a definite plus. This house really needs some work done. Linoleum (which I refer to in the video as vinyl for some reason) had been layered throughout the kitchen and dining area and is worn through exposing the old linoleum. The carpets are dirty and dated and the paint is chipping off throughout the house. It has also been recommended, by the appraiser, that the garage out back be removed." Assessed for $49,721. So, 304 14th Street? Or a bottle of Johnny Walker?
   
5. 2429 11th Avenue, Greeley: $65,000. 2 bed, 1 bath, 701 sq ft, 1950. Erica: "There is one thing I really don't like like about this house, and one thing I really do like about this house. Both of these things are location. What I don't like about the location is it's located on a busy street and there is definitely road noise. The absolutely great part about the location is it is close to UNC. The first thing I noticed, after finding the house, is that in front there are two stunning, mature trees that were is full bloom. The house also has definite curb appeal with a cute little detached garage. The layout of the house is pretty typical in the sense that you walk into the living room which immediately opens into a kitchen/dining area. The kitchen cabinets seem to be in great condition. The two upstairs bedrooms are grouped beside the one bathroom which is also pretty decent. The basement houses two bedrooms, the bigger of the two I'm assuming was being used as the master. Also included down in the basement is the bottom of a shower, which I think might have been at one time, or might have become in the near future, a second bathroom. The backyard is also in great shape!!" Assessed for $78,005. So, 2429 11th Avenue? Or your own radio station? Erica found this place so compelling, she did two videos:
   
6. 1615 James Drive, Loveland: $125,000. 2 bed, 1 bath, 906 sq ft, 1959. Methinks this is the best choice for the first-time home buyers in the crowd. It approaches move-in condition (minus the burgundy carpet) by having all of the appliances present and accounted for, and the white walls are actually in decent shape (read: no anger holes punched everywhere). The small repair escrow of $715 concerns repairing exposed wiring and the furnace blower fan. This house is a smallish ranch at only 906 sq ft, but its footprint only serves to make the lot seem absolutely huge, both front and back. The carport has been transformed into a large storage area with two closets and access to the crawlspace. Top the whole thing off with a fireplace, a cool oak tree out front, a shed in the fenced back yard and its a keeper, or a no-brainer if you're looking in this price range. Even more convincing - the house across the street is listed for $189k. Granted it has a basement, but it's 50% more dough and you can't get in for $100 down. 1615 James is assessed for $112,900. So, 1615 James Drive? Or a James Bond rocket belt?
   
7. 923 S Tyler Avenue, Loveland: $115,000. 2.5 bed (!), 1.5 bath, 1215 sq ft, 1967. "Ok Crip, I just got done reading about how awesome James Dr is for $125k, but this one here on Tyler is 300 sq ft larger, has an extra quasi-bedroom and half bath, an honest-to-goodness garage, an even BIGGER backyard and no repair escrow. What's the deal?" First I'd ask how you knew it had no repair escrow (it doesn't), then I'd refer you to the video and pictures. This place isn't nearly in the condition James is, with some nasty, old carpet that is begging for a ride to the landfill. And the smell of the house is that of 7 million cigarettes. They've gone and updated the kitchen, those crazy previous owners, but they've taken the appliances with them. This one features a half bath off of one of the bedrooms (I hesitate to call it the master since both 'real' bedrooms are the same size), a fireplace and an absolutely killer fenced back yard, helped in no small part by the corner lot. The property is situated on the corner of south Tyler and 10th, which sees some traffic but isn't terribly busy by anyone's measure. If there's anything funky with this house, it's the addition of a small bedroom on the backside of the garage. Again, the video will help with visualization (obviously), but this little area of the house (which also houses the washer and dryer) doesn't seems like much of a quickie add-on since the floor is basically the same as the kitchen and there's no discernible difference in age as the rest of the house. Also, the garage isn't squished and seems typically sized for a 60's ranch. If you're on a budget and don't mind a bit of cosmetic fix up, this is another no-brainer ranch in Loveland you could get into for $100 down. Assessed for $161,000. Wow. So, 923 S Tyler? Or this 1970 Dodge Challenger Convertible?

That's going to do it once again. As always, if you have any questions on these or any other properties, or specifically about the HUD process, please drop me a line. And if you simply cannot wait for The Report to come out on the weekends and want to be absolutely sure you get all the HUDs immediately (or any other types of foreclosures) please let me know and we can set you up on an auto mailing as soon as they are available. I also have pictures of all the properties if you don't see what you're looking for. I look forward to hearing from you if you are looking to buy OR sell! And if you know anyone that would benefit from our service and would like to receive notice when the HUD Report is updated, please contact me. Thanks for reading, have a stellar week!

Crip Erickson
Broker Associate
Realty Executives
208 S College Avenue
Fort Collins, Colorado
970.988.5634
970-221-3627 fax

Crip’s HUD Report 6-12-2009 – Fort Collins, Finally

Yes, yes, yes, we've been gone a couple of weeks. A flurry of contracts slowed us down a bit, but we've also received only one new HUD in the last three weeks, and it's still available (418 7th). However, this week's inventory should help cure your loneliness. Enjoy!

New HUD Listings for 6-12-2009
Click for this week's pics of all the inventory!

(Clicking on the little pics below will take you to each property's detail page and condition report.)

705 E Drake M-45, Fort Collins: $91,000. 2 bed, 1 bath, 821 sq ft, 1974. This ground floor Scotch Pine condo is in remarkable condition, with a nice floor plan and updated kitchen. It also has a beautiful view and access to the large green space and lockable storage. The problem is it smells terribly like dog pee. Please budget for carpet replacement, please, as it will be the only way to get rid of it. Other than that, this joint is in move-in condition, qualifies for the $100 down program and has no repair escrow. HOA = $200/month but includes practically everything. Assessed for $91,600.

1705 Springmeadows Ct #B, Fort Collins: $130,000. 2 bed, 1.5 bath, 960 sq ft, 1974. This 2 story townhouse doesn't seem as small as the sq footage suggests. And I like the location - it's just west of Lemay off Stuart. There's little traffic noise and the area is quiet, with a beautiful green area behind the unit (which is technically the front, I believe). During its 35 years of existence, somebody went tile crazy and tiled the counters as well as the upstairs bathroom. The kitchen also has a tiled backsplash and black cabinets, making it quite dark. The effect is cool for about 5 minutes. There's a 1 car detached garage, and both bedrooms are close to the same (big) size. Qualifies for the $100 down incentive, no repair escrow. HOA = $188/month. Assessed for $117,400.

802 Waterglen Dr M-57: $131,000. 3 beds, 2.5 baths, 1282 sq ft, 2003. The steal of the bunch. This one is missing the refrigerator, but is otherwise move-in ready. It has sharp laminate flooring throughout the main, and the carpets upstairs have several years left in them. There's no sign of typical HUD house paint (read: lavendar, dark blue, bright green often in the same room) and the master bedroom is large and has a 3/4 bath in it, which I like. It has an attached 2 car garage, A/C and a shared backyard. And although it suffers from being somewhat close to the overpass of Vine and 25, there's little traffic noise inside the house. If you're looking for a killer town house deal in Fort Collins, this is the one. Assessed for $152,000.

39370 County Road 68, Briggsdale, CO: $152,000. 3 beds, 2 baths, 1296 sq ft, 1998, 39 acres! No, not 3.9 acres, 39. This externally beat down trailer is practically in Morgan county. If by some slim chance you are familiar with the Briggsdale area (I couldn't even tell you where the town is), this joint is just east of Rd 79 1/2. The house itself is cosmetically OK on the inside, but a lack of plumbing + heat functionality means it won't go FHA. HUD also states it isn't permanently attached to a foundation, which leaves me wondering what exactly that foundation under the house is doing. There's a large slab for an invisible garage, and a barn, which is probably the nicest feature of this listing. If you want to be away from it all look no further. Hopefully you'll get the gist of this place from the pics and video because this is a heck of a drive from Fort Collins. Assessed for $142,301, which means we'll have this one for a while, especially without FHA financing as an option.

895 E 20th St Dr, Greeley: $67,000. 3 bed, 1.5 bath, 1178 sq ft over unfinished bsmt, 2002. This place is basically identical to the unit behind it, which is our recent property at 892 E 20th St Rd. It's a 2 story townhouse with a 2 car garage in East Greeley's Balsam Village and is technically ready to go ($100 down, no repair escrow). However, it smells like a smoky hotel room, with the green carpet to match. It's also impossible to find a Balsam Village REO without crayon all over the walls, so factor paint into your equation. Keep those in mind and this is a super solid buy. Assessed for $107,562.

Relist: 5907 Mercury Dr, Fort Collins: $112,800. 5 bed, 2 bath, 1080 sq ft over 1080 sq ft, 1965. Back. Again. Again. We first listed this place nearly a year ago, and it has been in and out of contract ever since. A word of caution before we get to the fun stuff: Even though this place SOMEHOW has a list of repairs under $5000 (which means it qualifies for the $100 Down program), there's a reason it hasn't closed. Bluntly, nobody realizes what they're getting themselves into. The list of repairs are extensive, and that's just the stuff that will make it financeable. If somebody honestly wants a fixer-upper, this is the one to get. Just don't expect to bust out some paint over a weekend. With that said, this South Fort Collins ranch is roomy, has 3 beds and a bath up (2 of the bedrooms are fine, as is the bathroom) and half-torn apart or half-finished kitchen, a big fenced back yard, and a basement that, again, was either getting destroyed or built. Can't tell. There's some really stupid brown paper glued all over the walls so much of the main floor looks like a potato skin. There's also a one-car garage. Back in August of 2008 when it was listed at $141k, I thought making 10% on a flip would be tricky. At this price you could make 20%. If you can get it, that is. Remember owner occupants get first crack, with bids on the relists due 5 days after listing. In this case, bids are due Tuesday 6-16-2009. Assessed for $166,700.

Relist: 1606 31^st Ave, Greeley: $98,000. 3 bed, 2 bath, 816 sq ft over 816 finished, 1972. Listed as a 2 bed, 1 bath. Erica writes: "Located in a cul-de-sac, but does have some busy street noise from 16th Street. The basement has been finished, with a built in 50's (?) style bar surrounded by a dark leather cushioned piece, and a large living/media room complete with a fireplace. It also houses what I would call the master bedroom that has a walk-in closet and 3/4 bath (that I think has been tiled, though it was dark). The upstairs has another family type room and a kitchen that is in great shape, yet is missing all appliances. There are also two regular-to-small-sized bedrooms upstairs. The backyard is very large and backs up to a church parking lot! All in all a solid buy for $98,000." Assessed for $146,394.


Special Erica Bonus: 418 7th ST, Greeley: $37,000. 2 bed +, 2 bath +, 832 sq ft over 288 sq ft + a small guest house. "This uninsured shocker actually houses three units!!! None of them probably work fully, but they're there and with a little work could be usable. The main part of the house contains 2 small bedrooms as well as a living room, kitchen, and bathroom with no toilet. Everything there is in not so good condition. There is kind of a shed/guest house thing out back that has a kitchen, living room, and wood burning stove, as well as another bathroom (this one looks better then the main one). On the back side of the main house is was surprised to find another door that lead to a kitchen and bathroom with what maybe one would consider at small living room. There is also stairs for the basement there. To get a video look at this unit see video #2 for 418 7th St. It's a good thing Greeley has broad occupancy limits. Listed at $37,000!" Assessed for $96,364. The second unit snuck up on Erica, so there's two videos:

That's going to do it once again. As always, if you have any questions on these or any other properties, or specifically about the HUD process, please drop me a line. And if you simply cannot wait for The Report to come out on the weekends and want to be absolutely sure you get all the HUDs immediately (or any other types of foreclosures) please let me know and we can set you up on an auto mailing as soon as they are available. I also have pictures of all the properties if you don't see what you're looking for. I look forward to hearing from you if you are looking to buy OR sell! And if you know anyone that would benefit from our service and would like to receive notice when the HUD Report is updated, please contact me. Thanks for reading, have a stellar week!

Crip Erickson
Broker Associate
Realty Executives
208 S College Avenue
Fort Collins, Colorado
970.988.5634
970-221-3627 fax