Northern Colorado's Premier (Only?) Source for Larimer and Weld County HUDs! Get the scoop on the $100 Down FHA incentive properties, commonly called the "HUD 100s". To place a bid on any of these HUD homes or to simply inquire about buying as either a primary residence or an investment, please call 970-988-5634 or email cripsta@gmail.com. Thanks for reading! Suggestions are always welcome and feel free to ask us any questions about real estate (REO or otherwise!)
Friday, July 24, 2009
Crip's HUD Report 7-24-2009: An Entertaining Week
Greetings y'all and thanks for stopping by. Tons of killer stuff, not nearly enough hours in the day. This was a great week, so please have fun checking out the new stuff...
Clicking on the small pictures below takes you to MCB's property page with the condition reports, as if you didn't know that.▼
2725 Virginia Dale Dr, Fort Collins: $160,000. 4 bed, 2 bath, 1782 sq ft, 1982. This is simply the best deal in Fort Collins. It's a bi-level just north of west Lake Street and the neighborhood is super quiet. The surrounding houses are just lovely, which unfortunately makes this one look kind of imposing and ugly. However, at this price it's easy to overlook some simple cosmetic needs. The kitchen is nicely (and whitely) updated, and the master has a 3/4 bath. The carpet is pretty trashed in a couple of the bedrooms, and there's no bathroom in the lower level. Not a deal breaker, but thought I'd mention it. The repair escrow on this one is ridiculous: $275 to "install safety release latches on security bars or remove" them. Assessed for $192,100. Scope the video walkthrough:
3602 Stampede Dr, Evans: $117,000. 3 bed, 2 bath, 1133 sq over full unfinished basement, 2001. This Ashcroft Heights ranch is a great buy. Other than a few small carpet stains in two of the bedrooms, the house is in immaculate condition. A special shout out to the whomever threw down on the wood flooring, because it's very well done and features a two-tone oak and walnut kind of thing. There's a full unfinished basement, fenced yard, corner lot, two car garage, etc. The repair escrow of $715 is for the typical 'furnace blower fan' and repair of the garage firewall. Sorry folks - I have no wisecracks to make about this place, but here's something that may make you smile: This place is the cheapest offered home in the subdivision by over $20k and you can get in it for $100. : ) Assessed for $132,888. Scope the video walkthrough:
713 44th Avenue, Greeley: $132,000. 4 bed, 3 bath, 1521 sq ft over full finished basement, 1978. Once upon a time, there were wild martini parties here. There were women overflowing from the back yard hot tub; there were men in plaid jackets and turtlenecks crowding the basement bar; the owner was making sure nobody spilled on the beach-sunset mural next to the bar fridge; some Solid Gold dancer-wannabe's were doing their best Flashdancing in the mirrored room; and about 50 people were grooving comfortably in the enormous downstairs living room. Upstairs, a few couples were sitting by the fire and pulling names out of a hat. Fast forward to 2009 and Crip walks through the house and scares a cat. Assessed for $146,308. Scope the video walkthrough:
402 14th St, Greeley: $32,000. 3 bed, 1 bath, 1204 sq ft, 1900. As you'll see later on in our program, our listing less than a block away at 304 14th has been reduced. And based on my experience in that trashed, filthy, squalid little box of a house I was completely blown away by this one at 402. It has vinyl siding that's in good shape, a detached garage, a shed, a gigantic kitchen and bedrooms that aren't sized like closets. It does have a laundry list of repairs (downspout extensions, shingle repair, plumbing repair, furnace repair, replace h20 heater), so perhaps it isn't the deal I thought it was. Nah, it still is. Assessed for $68,102. Scope the video walkthrough:
934 E 25th ST LN, Greeley: $89,000. 4 bed, 2 bath, 1077 sq ft over 1077 mostly unfinished, 2002. This East Memorial ranch is listed as a 3 bed, 1 bath, but the basement, which is unfinished save for the one extra bedroom and bath, is of course excluded from HUD's appraisal. It seems to me these two rooms were built with the house as they are in identical condition to everything else. The main floor has an open living room/kitchen set-up with laminate flooring and three decent-sized rooms. The garage needs to be scrubbed out, and there's a fenced yard out back. The roof needs to be re-shingled and OF COURSE they say the furnace needs to be repaired. If you are wondering where East Memorial is, just watch for the kids cruising around on minibikes and weaving in and out of traffic on their tricycles. Assessed for $101,015. Scope the video walkthrough:
31322 4th St, Gill: $120,000. 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: $80,000. 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. Scope the video walkthrough:
Relist: 1601 W Swallow 8C, FTC: $71,000. 1 bed, 1 bath, 576 sq ft, 1985. Somehow, I don't think we covered this one when it was first listed. It's a tiny joint, and except for the wall between the bedroom and living room the condo is essentially a studio. It does have all of the kitchen appliances AND the stacked washer and dryer, and it's priced right. Did I mention it's small? How small you ask? The video walkthrough is only 39 seconds long. Assessed for $76,000. Scope the short video walkthrough:
Price reduction: 304 14th Street, Greeley: $27,000. 2 bed, 1 bath, 704 sq ft, 1920. Erica wrote: "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? Scope 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
Call me if you want to buy or sell, or if you just have real estate questions! 970-988-5634 or email cripsta@gmail.com! Active CO Broker License FA100000714. Thanks for reading!
2725 Virginia Dale Dr, Fort Collins: $160,000. 4 bed, 2 bath, 1782 sq ft, 1982. This is simply the best deal in Fort Collins. It's a bi-level just north of west Lake Street and the neighborhood is super quiet. The surrounding houses are just lovely, which unfortunately makes this one look kind of imposing and ugly. However, at this price it's easy to overlook some simple cosmetic needs. The kitchen is nicely (and whitely) updated, and the master has a 3/4 bath. The carpet is pretty trashed in a couple of the bedrooms, and there's no bathroom in the lower level. Not a deal breaker, but thought I'd mention it. The repair escrow on this one is ridiculous: $275 to "install safety release latches on security bars or remove" them. Assessed for $192,100. Scope the video walkthrough:
3602 Stampede Dr, Evans: $117,000. 3 bed, 2 bath, 1133 sq over full unfinished basement, 2001. This Ashcroft Heights ranch is a great buy. Other than a few small carpet stains in two of the bedrooms, the house is in immaculate condition. A special shout out to the whomever threw down on the wood flooring, because it's very well done and features a two-tone oak and walnut kind of thing. There's a full unfinished basement, fenced yard, corner lot, two car garage, etc. The repair escrow of $715 is for the typical 'furnace blower fan' and repair of the garage firewall. Sorry folks - I have no wisecracks to make about this place, but here's something that may make you smile: This place is the cheapest offered home in the subdivision by over $20k and you can get in it for $100. : ) Assessed for $132,888. Scope the video walkthrough:
713 44th Avenue, Greeley: $132,000. 4 bed, 3 bath, 1521 sq ft over full finished basement, 1978. Once upon a time, there were wild martini parties here. There were women overflowing from the back yard hot tub; there were men in plaid jackets and turtlenecks crowding the basement bar; the owner was making sure nobody spilled on the beach-sunset mural next to the bar fridge; some Solid Gold dancer-wannabe's were doing their best Flashdancing in the mirrored room; and about 50 people were grooving comfortably in the enormous downstairs living room. Upstairs, a few couples were sitting by the fire and pulling names out of a hat. Fast forward to 2009 and Crip walks through the house and scares a cat. Assessed for $146,308. Scope the video walkthrough:
402 14th St, Greeley: $32,000. 3 bed, 1 bath, 1204 sq ft, 1900. As you'll see later on in our program, our listing less than a block away at 304 14th has been reduced. And based on my experience in that trashed, filthy, squalid little box of a house I was completely blown away by this one at 402. It has vinyl siding that's in good shape, a detached garage, a shed, a gigantic kitchen and bedrooms that aren't sized like closets. It does have a laundry list of repairs (downspout extensions, shingle repair, plumbing repair, furnace repair, replace h20 heater), so perhaps it isn't the deal I thought it was. Nah, it still is. Assessed for $68,102. Scope the video walkthrough:
934 E 25th ST LN, Greeley: $89,000. 4 bed, 2 bath, 1077 sq ft over 1077 mostly unfinished, 2002. This East Memorial ranch is listed as a 3 bed, 1 bath, but the basement, which is unfinished save for the one extra bedroom and bath, is of course excluded from HUD's appraisal. It seems to me these two rooms were built with the house as they are in identical condition to everything else. The main floor has an open living room/kitchen set-up with laminate flooring and three decent-sized rooms. The garage needs to be scrubbed out, and there's a fenced yard out back. The roof needs to be re-shingled and OF COURSE they say the furnace needs to be repaired. If you are wondering where East Memorial is, just watch for the kids cruising around on minibikes and weaving in and out of traffic on their tricycles. Assessed for $101,015. Scope the video walkthrough:
31322 4th St, Gill: $120,000. 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: $80,000. 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. Scope the video walkthrough:
Relist: 1601 W Swallow 8C, FTC: $71,000. 1 bed, 1 bath, 576 sq ft, 1985. Somehow, I don't think we covered this one when it was first listed. It's a tiny joint, and except for the wall between the bedroom and living room the condo is essentially a studio. It does have all of the kitchen appliances AND the stacked washer and dryer, and it's priced right. Did I mention it's small? How small you ask? The video walkthrough is only 39 seconds long. Assessed for $76,000. Scope the short video walkthrough:
Price reduction: 304 14th Street, Greeley: $27,000. 2 bed, 1 bath, 704 sq ft, 1920. Erica wrote: "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? Scope the video walkthrough:
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