Crip Erickson's HUD Report Blog!: August 2009

Friday, August 28, 2009

Crip's HUD Report 8-28-2009: Best Week EVAR?

Greetings folks! I could go on and on about this week's stuff, but I'll just mumble for a few moments instead:

NEW HUD LISTINGS FOR 8-28-2009
▲ Click for ordered pics of this week's new listings!
Clicking on the small pictures below takes you to MCB's property page with the condition reports, as if you didn't know that.▼

1.

1431 14th Ave, Greeley: $127,000. 5 bed, 2 bath (listed as a 3 bed, 1 bath), 1400 sq ft over a full finished 1320 sq ft, 1925. First things first: This is an over/under duplex, and a legitimate one at that. The house is a stunning, big bungalow in dire need of exterior paint, and the basement unit is actually very adequate for a couple of tenants. The corner location is a double edged sword - on one hand the lot is MASSIVE and goes back much further than you'd expect. On the other hand, it is right on the corner of 14th Avenue and 15th Street (Greeley Central High School is across the street). The numbers would actually work to make this a cash flowing rental property, but the ultimate buyer for this is an owner occupant that simply wants to rent out the basement. Oh, there's some mold in the downstairs master bedroom. Speaking of which, here's the repair escrow info:


Remediate mold like substance	$275
Repair furnace	$550
Secure exposed wiring	$55

Assessed for $140,000. Video walkthrough:

2061 Beech Ave, Greeley: $81,000. 3 bed, 1 bath, 1614 sq ft (?), 2002. Again, I'm dubious about the 'finished' square footage. I'll put it to you this way, this place is a 4-level, and only half of the levels are finished. The kitchen is in decent shape and the master has a big ol' closet, but yes there is only one bathroom. And a very, very small deck. The garage is an oversized two car as well. Assessed for $100,192. Video walkthrough:

3604 Montrose, Evans: $67,000. 4 (or 5) bedroom, 2 bath, 958 square feet (1440, according to county records which is probably more accurate), 1964. First of all, I have no idea how HUD's appraiser lost track of almost 500 sq ft. or a bedroom. Secondly, I have no idea why the previous owners chose to put their toilet next to a window. Or do I? Fifth, this place is a good deal. Assessed for $93,159. Video walkthrough:

2400 Arctic Fox, Fort Collins: $168,000. 3 bed, 1.5 bath, 1202 sq ft (I disagree), 1981. Here's the bargain of the bunch. It could very easily be a 4 bedroom with the addition of a closet, and it certainly feels more like 1600+ sq ft. The house is in need of cosmetic repair, but it's limited mostly to paint and carpet. The exterior of the house is sharp and the neighborhood is awesome. Assessed for $181,200 but fixed up this is, in my opinion, more like a $200k house. Video:

2626 Ashland Ln, Fort Collins: $227,000. 3 bed, 2.5 bath, 1995 sq ft over 579 unfinished basement, 2007. Looking for a nearly move-in condition new house but don't want to pay a premium? Better yet, do you want to get in it for $100? Look no further than this Maple Hill monster. The layout may not appeal to everyone (Journey Homes initially called this 2-story a 3-level) as you'll encounter stairs any time you want a snack. It's hard to explain, so just check out the video. The HOA is $405 according to HUD, but I have yet to see that number on any other active listing (I've seen $400 and $500). So what makes it not TOTALLY move-in condition? EVERY SINGLE light fixture is missing. Assessed for $240,500. Walkthrough:

3324 West County Road 54g, Laporte: $80,000. 2 bed, 1.75 bath, 1005 sq ft, 1948. I was a little bummed about this place. As a converted duplex, it sucks. As a fixer upper it certainly succeeds, because it needs lots of fixing and lots of upping. There is only one kitchen, and both bedrooms are in one half of the building. Converted, you'd basically have a decent 1 bedroom unit, and a unit with 2 VERY small bedrooms. Then again, I also don't know who would would want to rent out either unit, unless you can find a professional barfly. HUD states the "subject is adjacent to tavern [The Long Branch] and fire station [Poudre #7]". Figure out where we are yet? This place is NW of the 54g and Overland intersection. And yes, this place is pretty much in the parking lot of the bar. You could literally crawl home and be eating a Hot Pocket on your couch in two minutes. And if you fall asleep with a lit cigarette, the fire station can be touched from the back yard. Bonuses: Chicken coop out back, overwhelming smoke smell, aforementioned proximity to the Fire Station as well as The Swing Station (just in case you find yourself wearing out your welcome at the Long Branch). Assessed for $125,500. Video walkthrough:

Relist: 2011 Birch Ave, Greeley: $59,000. 3 bed, 1 bath, 999 sq ft over 999 unfinished, 2002. This is a half-duplex in Balsam Village. It needs new carpet, paint and some minor wall repair, but it also needs kitchen cabinets. Has a 2-car attached garage. This makes last week’s extreme deal at 892 E 20^th St Rd for $61,600 seem like even more of a killer deal, but since that one went under contract for $67,210 it kind of eases the pain. Assessed for $109,045. As a reminder: If these weren’t good deals, I wouldn’t be wasting my time. Scope the video walkthrough:

2437 15th Ave, Greeley: $73,000. 3 bed, 1 bath, 1233 sq ft, 1953. I just realized, I forgot to go to this place. Whoops! Assessed for $100,565.

Price Reductions:
1.

31322 4th St, Gill: $108,000. 3 bed, 2 bath, 1432 sq ft, 1997. Except for the part where I had to drive to Gill, I really liked this place. The house is in move-in condition and it has a big fenced yard with two storage sheds. It is on public water but has a septic system, which may explain the berm in the backyard. Either that or they recently buried a whale in a shallow grave. Assessed for $47,124. Scope the video walkthrough:

116 2nd Avenue, Severance: $72,000. 1 bed, 1 bath, 1144 sq ft, 1900. Other than it's proximity to the new fire station, there's nothing redeeming about this joint. The yard was cool once upon a time but the house is just too run down. Somehow, the repair escrow made it under the $5000 max, but just barely. The appraiser could have basically just said "Replace everything yo. And the foundation has typical settlement." In fact, the cellar (which is surprisingly clean) is the best part of the house. Overall the house is fairly gross, and it's grossly overpriced. Seriously. Expect this one to be in our inventory for a long, long time. I predict an eventual sales price of $35,000. Assessed for $98,821. UPDATE: This is the first of many price reductions, and I still stand by my predicted sales price. Will anyone buy me lunch at Bruce's if I'm right? Scope the video walkthrough:

Remember, the HUDs are a small part of what we do, and nobody does them better. But we have quite a bit of experience in all areas of real estate: resells, listings, short sales, REOs of all types, property management, income properties, etc. If you have any questions at all, just ask. We live and die by referrals, so any you pass along are appreciated.

That's going to do it once again, hope you enjoyed reading and watching! Suggestions are always welcome and 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 cell
970-221-3627 fax

Friday, August 21, 2009

Crip's HUD Report 8-21-2009: Get Greedy in Greeley

Hey everybody. "Unbelievable" is about the best way I can describe this week's stuff. $31,200? $31,200? $30,000? $23,000? It's not a countdown - it's a list of some of this week's prices. And they aren't all complete dumps! Check 'em out in this week's...

NEW HUDS FOR 8-21-2009
▲ Click for ordered pics of this week's new listings!
Clicking on the small pictures below takes you to MCB's property page with the condition reports, as if you didn't know that.▼

1.

527 14th Avenue, Greeley: $31,000. 2 bed, 1 bath, 840 sq ft, 1919. We'll set the pace with this uninsured HUD. This one has the distinction of having the biggest difference in exterior vs. interior appearance. Outside, it's nothing but peeling paint and a shabby roof. Inside, it's commercial carpet, an updated kitchen and a new gas fireplace. The cellar is a different story, with mold scattered throughout. On the video I point out the lot line ends with the cut grass, which is totally inaccurate. The lot is a mammoth 16,500 sq ft. To put that in perspective, that's about 10,000 sq ft more than just about every other house on this list and over a third of an acre. If you can make the numbers work, this would make a great rental. Assessed for $84,273. Scope the video walkthrough:

1226 4th Street, Greeley: $30,200. 2 bed, 1 bath, 756 sq ft, 1918. Another uninsured property. The difference with this one is its eligibility for 203k financing. HUD writes: "Repair/replace - furnace; toilet; plumbing system." The bedrooms are connected via a single closet, and the living room/dining room is a large single area. There's Death Stairs that lead to a cellar, but the draw here is the transformed garage that was obviously a second house. The remnants are two makeshift bedrooms, what's left of the kitchen (nothing) and a bathroom. Assessed for $41,199. Scope the video walkthrough:

1120 3rd Street, Greeley: $23,000. 2 bed, 1 bath, 544 sq ft, 1925. What can I say? I love this place. Most of the cars parked around your office cost more than this house, and yet it wasn't the miserable dump I had braced myself for. It needs work, of course, and it will not go FHA. But because of it's size, it really isn't going to cost too much to bring this one back into rental or flippable condition. HUD has it listed as a one bedroom (the other bedroom is in the basement but appears legit). The biggest draw for me is the huge attached garage/shop. HUD remarks: "Repair plumbing system; install firewall between house and garage; repair heating system." Assessed for $30,847. Scope the video walkthrough:

507 17th Street, Greeley: $30,000. 2 bed, 1 bath, 520 sq ft, 1948. Yet another smokin' deal. This one qualifies for the $100 down incentive, with a $220 repair escrow for "remediation of mold-like substance". I mention this in the video - it's present in the smaller bedroom. This place has laminate flooring throughout most of the house, and it is pretty soft in the living room, as if they put it over carpet. It has a large but boring wood deck and a cinder block garage that will survive Fallout 4. Expect some mean overbidding on this one. Assessed for $55,813. Scope the video walkthrough:

2646 12th Avenue, Greeley: $80,000. 3 bed, 1 bath, 1338 sq ft, 1959. Ah yes, the 'expensive' one of the new stuff. I had to wait my turn before I could roll into this place and put my thing down, which is always a sign of interest. This ranch has hardwood floors throughout the bedrooms, living room and hallway, a modest but useable kitchen and a fourth room that probably served as a laundry room and office. The detached garage has metal cabinets (and is also hiding the washing machine) and is completely clean. This one has a repair escrow of $990 - $550 for furnace repair and $440 for roof repair. This is another one you can probably expect to be overbid. Assessed for $97,774. Scope the video walkthrough:

Relist: 2012 27th Avenue, Greeley: $127,000. 5 bed, 3 bath, 1676 sq ft over 1368 mostly finished. Erica writes: "This massive monster of a house was definitely a pleasant surprise! Though it is a little dated, the spacious layout and the abundance of rooms makes this house worth the $127k. While going though this house I noticed 5 bedrooms (3 upstairs and at least 2 down), though I could not see anything in one part of the basement which I think had at least one more bedroom! There is a 3/4 bath in the master upstairs, as well as another in on of the basement bedrooms. The house is immaculate for it's age, (built in 1972) and is located in a great part of town. Definitely worth checking out!" Update: The roof needs to be replaced, which puts the repair escrow at $4400. Also, if you aren't familiar with Cascade Park please go familiarize yourself. You'll quickly realize what a great deal this is. Assessed for $166,658.

7.

Relist: 8410 Copeland Ct, Fort Collins: $55,000. 3 bed, 2 bath, 1244 sq ft, 1984. Two months ago we listed 8516 Audubon, a rather nice example of a trailer in Mountain Range Shadows (that one is still pending due to the implosion of Taylor, Bean & Whitaker). This week, we once again get 8410 Copeland, a sad, smelly homage to animal cruelty. Not to say this one isn’t without its merits, but it has several drawbacks: Plumbing is shot, furnace is too, there’s some mold in the north bedroom (surprise) and the data plate is missing (people must covet them, like hood ornaments off a Cadillac). Bonus: there’s a nasty shed that seems to have been used only as a dog cage. A Molotov cocktail is about the only remedy for it. On the plus side, this joint is a double-wide, it does have a decent tiled sun room, a relatively big lot with a mostly fenced yard, a new roof, and it is FHA financeable so this does qualify for the $100 down incentive. Copeland is assessed for $104,500. Check out the video walkthrough:

Monday, August 17, 2009

Crip's HUD Report 8-14-2009: $120k or less in FTC

Greetings folks! First of all, my apologies for getting this out a bit later than usual. On the other hand, there were no relists this week, so all bids for this week's stuff will be due Sunday the 23rd. And as a quick primer: Only owner occupants may bid during the first 10 days. If there are no acceptable bids during this time, the property then opens to ALL bidders, meaning investors.

But you knew that, right?

Enough business, let's get down to, er, business.

NEW HUDS FOR 8-14-2009
▲ Click for ordered pics of this week's new listings!
Clicking on the small pictures below takes you to MCB's property page with the condition reports, as if you didn't know that.▼

1.

5009 Deer Run Ln, Fort Collins: $115,000. 3 bed, 2 bath, 1260 sq ft, 1982. This is the kind of surprise I like. First here's HUD remarks for this property: "HOA fees are $200 per year. Manufactured home access road has a steep part & may need 4-wheel drive vehicle in winter. HUD Data Plate/Compliance Certificate is missing but Certification Labels are present.

Escrow Information
Repair plumbing system	$550
Remove axles attached to home	$550

So that, combined with a completely unflattering photo (compare theirs:

with mine:

), led me to prepare for the worst. What I found was a fairly updated home,

with three amply sized bedrooms and an intact kitchen.

And if not for the plumbing leaks, this place would be in total move-in condition. Wanna live up at the reservoir but don't want to spend a ton of dough? Here's your place. Assessed for $158,500. Scope the video walkthrough:

3513 Kenyon Dr, Fort Collins: $120,000. 3 bed, 2 bath, 1628 sq ft (!), 1979. This is an uninsured "Manufactured home that is not attached to a permenant [sic] foundation. Repair/replace spongy front deck. Replace missing roof shingles. Plumbing system is not functional. Furnace is inoperable." Here let me save you $5000 - go buy Deer Meadow instead. Assessed for $127,100. Scope our CNN-style report on the property:

3.

3326 W 27th ST, Greeley: $100,000. 3 bed, 1.75 bath, 1154 sq ft over full mostly finished, 1979. Sounds like there's quite a bit of work that needs to be done here, but it is really a 5 bed, 3 bath (including the basement). Assessed for $132,614. Scope the video description:

4.

3100 Tobias Ct, Laporte: $139,000. 3 bed, 1.75 bath, 1604 sq ft, 1976. This Laporte bi-level needs quite a bit of work, but has a nice back yard and potential. Assessed for $168,700. Scope the video description:

5.

2616 Arbor Ave, Greeley: $89,000. 3 bed, 1 bath, 1056 sq ft over 1056 mostly unfinished, 2003. Two car garage, medium good condition, missing the fridge and toilet, couple of big holes in the walls. Assessed for $104,045.

6.

1718 Palm Dr. #2, Fort Collins: $84,000. 2 bed, 1.5 bath, 1087 sq ft, 1978. Totally FHA insured and from what I can tell a pretty darn good deal. The one car garage is more or less the icing on the cake, but let's just say the cake is locked in the fridge and the key has gone missing. Who knows what mysteries lie in the one-car attached garage? Aside from the large, dark-laminate-floor-covered living room,

this place is in need of a cosmetic overhaul.

But let's not kid ourselves: What kind of town house in Fort Collins isn't for $84,000? And how many come with a large, fenced yard?

Assessed for $129,700. Scope the video walkthrough:

160 N 1st Ave, Greeley: $30,000. 2 bed, 1 bath, 660 sq ft, 1925. Not much to say about this place, but HUD says: "Mold like substance present, take appropriate action. Kitchen must be removed from accessory unit. Furnaces, plumbing & electrical are not in working condition. Roof, siding, walls, soffit, fascia, gutter system & window trim need repairs. Property has well & septic systems. It is located on 1st Ave, a busy traffic street." If it looks like Erica was racing through the house when she took the pictures, she was. In addition to being a complete dump this house is also infested with mosquitoes. Assessed for $63,899. Here's Erica's transcribed report from the frontlines: "160 N 1st Ave is a very scary house. There's two units, both don't have kitchens, both have 1 bedroom, 1 bath...needs tons of work, probably a tear-down, really creepy...There's a big lot, tons of work."

Price Reduction:

39370 County Road 68, Briggsdale, CO: $121,600. 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. Update: After two price reductions, this one is starting to get into the deal zone. *Please bear in mind bids for this one will be due Tuesday the 18th, as in tonight (but I doubt it will get much interest and will therefore be open to all bidders tomorrow).

One of most common questions we get asked is whether or not we do anything but HUDs. The answer is ABSOLUTELY! The HUDs are a small part of what we do, and nobody does them better. But we have quite a bit of experience in all areas of real estate: resells, listings, short sales, REOs of all types, property management, income properties, etc. If you have any questions at all, just ask.

That's going to do it once again, hope you enjoyed reading and watching! Suggestions are always welcome and 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 cell
970-221-3627 fax

Friday, August 7, 2009

Crip's HUD Report 8-7-2009: August Already?

Hey Folks! This week saw yours truly speeding excessively to and from Carr, Wellington and Greeley. Don't know Carr? Here's a brief description: The house adjacent to this week's Carr HUD had a swamp cooler supported by a small, old refrigerator, which was in turn stacked on top of a plastic chair. As I tried to figure out if that was stacked on top of anything else, a rather large dust devil whipped directly over the house and had me seeking cover behind a leaning wooden fence. No big deal really, but I now have a greater respect for tornadoes after standing in that 1/400th scale version. But enough about swirling tumbleweeds! Let's check out the rest of the...

NEW HUDS FOR 8-7-2009
▲ Click for ordered pics of this week's new listings!
Clicking on the small pictures below takes you to MCB's property page with the condition reports, as if you didn't know that.▼

3240 Belmont Court, Wellington: $165,000. 3 bed, 2 bath, 1310 sq ft over unfinished basement, 2001. This gigantic 3-car garage has a decent Wellington Pointe ranch attached to it. At least that's what it appears like from the front.

The massive garage is a bit jarring from the curb, but at least the house is sharp overall. Inside, there's a fireplace and the master suite is just off the kitchen.

Stay tuned for a comparo between this and our relist at Polk Circle. Tragically, I left my video camera at home so no videos of the new stuff. Assessed for $193,100. The house next door is currently listed for $192,900.

61515 4th St, Carr: $63,000. 4 bed, 2 bath, 1379, 1999. This uninsured trailer in the ghost town of Carr has "propane, well & septic systems. Foundation is not to HUD requirements per appraiser, hurricane straps are not set in concrete. Plumbing repairs needed. Front porch, utility & bathroom have soft/spongy subfloor." Unavailability of FHA financing + beat down appearance and condition = this place being around for a while. It does sit on half an acre and has a nice two car garage (which is really all you can see from the road).

However, there's no driveway. Assessed for $114,396.

411 16th Avenue, Greeley: $28,000. 3 bed, 1 bath, 936 sq ft, 1954. Funky, blue, smelly, and with an estimated remaining economic life of 20 years. It features the world's oldest furnace

which apparently needs to be replaced. The garage was converted into the biggest bedroom once upon a time and the back yard is fairly decent. However this too is uninsured, so cash or conventional loan only, folks. Because I don't have a whole lot to say about this place, I'll simply ask you this: 411 16th Ave? Or a kiss from the dude that was killed in Goblet of Fire?

1114 3rd Avenue, Greeley: $38,000. 2 bed, 1 bath, 886 sq ft over a semi-finished basement, 1920. The best part about this lil' beater? It sits right across from Sunrise park. The worst parts about this house? The mold in the basement.

The damaged flooring. The broken plumbing. The trashed counters. The fact it is also uninsured. I do like the location of this one vs. the price though, and the extra bedroom and bathroom in the basement are bonus material (I didn't include them in my tally cuz the bedroom is moldy and the bathroom is, well, this:

I think that might be actual size. Assessed for $71,739.

Relist: 1810 8th Street, Greeley: $25,500. 1 Bed, 1 Bath, 667 Sq Ft, 1939. I checked this place out again today, but Erica summed it up pretty well when we first listed it: "This had to be one of the more bizarre houses I have been in. It is in decent condition, has a fully fenced front yard and a large backyard (though it is missing grass). When you first walk in you are in the living room. Immediately to the left is the one small bedroom. The kitchen is at the back side of the house where the ceiling goes from about 8ft high to 6ft high.

Now I'm not a very tall person, but I felt like the roof at the far side of the kitchen was uncomfortably close to my head. The layout of the kitchen is also weird with parts of it being updated (but not too well) and other parts of it being original. To the left of the kitchen is a small hallway leading to the bathroom which also has that weird sort of Alice in Wonderland feel (think eating the tall mushroom). The best part about this house is the Trex deck out back."

Think she's kidding about the ceiling? Here's me standing in the bathroom:

Assessed for $34,952. Uninsured!

274 30th Avenue, Greeley: $52,500. 3 bed, 2 bath, 1040 sq ft, 1998. If you have already looked through this week's pictures, you won't find any for this place. Why not? Because this joint is basically identical to the HUD next door at 262 30th that recently went under contract. Differences: 262 went under contract for $47k, was uninsured, had a fairly intact kitchen and hail damaged siding; 274 IS insured with a repair escrow of $1650 (plumbing, h2o heater, furnace). For that reason alone, expect this one to sell. Assessed for $73,787.

Relist: 3559 Polk Circle E, Wellington: $159,000. 3 bed, 2 bath, 1330 sq ft over 1330 unfinished, 2000. As I mumbled on the video, I had initially declared Mount Adams as the deal of the week. But after going into Polk, I quickly withdrew that observation. This Viewpoint ranch has everything most first-time home buyers are looking for: bigger bedrooms, a huge master bedroom with a nice walk-in closet, a quasi-updated master bath (which has been modified with a walk-in shower and grout-less tile throughout), wood floors in the kitchen, a 2 car attached garage, a decent-sized lot with some nice landscaping, a fully fenced backyard with a two-tier Trex deck and an unfinished basement. And other than the lack of appliances and the grout-less bathroom this one is move-in ready. HUD has flagged the furnace as needing repair (as well as the grout) so there is a small repair escrow of $770 on this one. Honestly, if you have been looking in Fort Collins for houses like this under $200k, you should probably just suck it up and check this place out because it's likely just what you're looking for. The house next door is listed for $199k (and it is very similar in layout condition and size); the larger 2-Story across the street is listed for $209,500. Ours is assessed for $200,100. Can you say value? Check out the video walkthrough HERE. Compared with Belmont, this takes the condition and back yard categories (gotta love that deck). Belmont has the nicer master suite and overall layout (and obviously that massive garage).

No price reductions because we basically don't have HUDs on the market longer than 10 days anymore.

That's going to do it once again, hope you enjoyed reading and watching! Suggestions are always welcome and 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 cell
970-221-3627 fax

Saturday, August 1, 2009

Crip's HUD Report 7-31-2009: The Wall

Hello folks! Getting pretty excited as a type because I'm jazzed about many of the properties. I'm also excited for many of my clients that have bids on properties, or will undoubtedly be bidding on some of these. You can't win if ya don't play folks! Without further rhetoric I give you...

NEW HUD LISTINGS FOR 7-31-2009
▲ Click for ordered pics of this week's new listings!

Clicking on the small pictures below takes you to MCB's property page with the condition reports, as if you didn't know that.▼

387 Buffalo Dr Unit A, Windsor: $75,000. 2 bed, 1 bath, 784 sq ft, 2003. I'll apologize in advance for the video, because I couldn't stop complaining about how bad the smell was in this little condo. At first I thought the smell was from the trapped animals of owner's past, but after dumbly opening the fridge, I can tell you that's the source. Why it is still in the unit confirms my suspicions that contractors often drive away with the better fridges. The stinky, old ones? Yeah, they get left for somebody else to deal with. Refrigerator aside, the rest of this place is nice and it also includes the dishwasher and stacked w/d. HUD has noted the presence of a mold-like substance, but I saw none. Assessed for $110,850. Scope the video walkthrough:
1424 12th Street, Greeley: $85,000.4 bed, 2 bath, 943 sq ft over full finished, 1926. Before checking this place out I was really questioning the price. Circular driveway aside, I couldn't really see a reason for such a stout price on a 'typical' 80+ year-old HUD home. However, once I got into the basement I understood: It is set up as a totally legit basement apartment, with a gigantic egress window in the bedroom. There's a second bedroom down there old listings have noted, but I wouldn't call it one. The kitchen in the basement is intact, in fact it's nicer than the main floor kitchen. And if you're concerned about the validity of the lower apartment, don't be: the land use is DUPLEX. This is a great buy for somebody looking to live in a cool, wood-floored old house and have somebody help with the mortgage. Assessed for $115,000. Scope the video walkthrough:
3021 11th Avenue Apt 2, Evans: $50,000. 2 bed, 1.5 bath, 1080 sq ft over 500 sq ft unfinished bsmt, 1979. You know, looking back on my visit to this Evans townhome, I don't believe I gave it enough credit. The bedrooms are unusually large, and there's a wood burning stove in the living room. There's also ample storage, the main (upstairs) bathroom is in good shape and there's also plenty of square footage. Drawbacks include the tiny backyard (which is half occupied by the metal shed) and the 11th Avenue location. However, the price is more than right. Assessed for $78,221. Scope the video walkthrough:
2544 14th Ave Ct, Greeley: $62,500.3 bed, 2 bath, NO KITCHEN, 827 sq ft over full mostly finished basement, 1955. I'm actually going to have you watch the video first. If you're short on time, at least watch the last minute: The extra-bizarre part about that little added 'feature' is something I don't mention in the video: There's a restaurant-style spring loaded door right next to the Wall. Just in case you don't feel like moving the wall, I guess. Because of the nature of the repairs needed to this house, please know what you're getting yourself into. It's got potential, but so do about 1000 other houses in Greeley. Assessed for $101,305.
1440 E 6th Street, Loveland: $77,500. 2 bed, 1 bath, 1019 sq ft, 1977. Erica checked out this killer deal in east-central Loveland: "This 2 bedroom 1 bath ranch is cute with a lot of potential. The Kitchen has all appliances and is in decent condition; as in the rest of the house, including the bathroom. The main issue I concluded was the dirty carpet and the siding issues which is what the repair escrow is for. The master bedroom is also very large and the neighborhood seemed very quiet and inviting!" Assessed for $120,200. Scope the video walkthrough:
Relist: 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.
1422 8th Street, Greeley: $31,000. 2 bed, 1 bath, 1018 sq ft, 1889. Erica hit Greeley and writes: "This 2 Bed/1 Bath in Greeley gave me the feeling like I had already been there (many times). Everything was pretty trashed (carpets,walls, etc...) though there was actually a decent hardwood floor that could be salvaged.The kitchen was missing all appliances and the backyard was torn up. On the plus side both bedrooms had walk in closets! Definitely needs a little TLC, but priced to sell at $31,000. Repair Escrow = $1,210." I'll let the pictures speak for themselves. Assessed for $50,677. Fun fact: last sold as a HUD house for $85,000 in 2005.Assessed for $50,677. Walkthrough:
Relist: 2011 Birch Ave, Greeley: $59,000. 3 bed, 1 bath, 999 sq ft over 999 unfinished, 2002. This is a half-duplex in Balsam Village. It needs new carpet, paint and some minor wall repair, but it also needs kitchen cabinets. Has a 2-car attached garage. This makes last week’s extreme deal at 892 E 20^th St Rd for $61,600 seem like even more of a killer deal, but since that one went under contract for $67,210 it kind of eases the pain. Assessed for $109,045. As a reminder: If these weren’t good deals, I wouldn’t be wasting my time. Scope the video walkthrough:
Relist: 233-235 W 3^rd ST, Loveland: $156,000.4 beds, 2 baths, 1800 sq ft*, 1965.Ah yes, the DUPLEX is BACK!Some lucky person could actually get into this place for $100 down, do a 203k loan on the property to fix the place up and STILL rent out the other side.If you’re that person you should be calling me ASAP.Each unit is 900 sq ft, 2 bed, 1 bath and has its own w/d hookups and storage shed.One has hardwood floors and granite tile, the other has (mostly) ceramic tile and Berber carpet.Each unit also has its own storage shed and the duplex sits just a few doors east of Bill Reed middle school. I mention on the video that I assumed the repair escrow was for plumbing; it isn't. The $770 is actually for smoke detector replacement, repairing exposed wires and soffit repair. Assessed for $201,900. HUD/MCB’s property details can be found HERE. Scope the video walkthrough:233-235 W 3rd ST, Loveland $156,000! from Crip Erickson on Vimeo.
Price Reduction: 1031 E 24th ST RD, Greeley: $68,400. 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:

That's going to do it once again, hope you enjoyed reading and watching! Suggestions are always welcome and 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 Erickson's HUD Report Blog!