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!)
Monday, July 13, 2009
7-10-2009! 3 in FTC!
Greetings again folks. Yes, I was just as shocked as you are to see three Fort Collins HUDs on this week's list. Some may quibble and point out that one is merely a relist (Mercury), but I'll take whatever I can get. So will the numerous buyers just waiting to pounce on these $100 down gems. Gems like. . . NEW HUD LISTINGS FOR 7-10-2009 ▲ Click for ordered pics of this week's listings! Clicking on the small property pics takes you to the property description page, ▼ with the condition report.
1401 Windjammer Drive, Windsor: $145,000. 2 bed, 2 bath, 1346 sq ft over full unfinished, 2004. This sharp Water Valley house would be completely awesome if it didn't look exactly like every other house on the street,
so it has to settle for just merely awesome. Price-wise, this one is a great deal with other identical units on the street currently listed for $170k and $183k. One of them even boasts it's "the lowest price in Water Valley!" Uh, no. Its only repair requirement escrow-wise is to install carpet throughout the main floor (there's absolutely none,
but the linoleum remains in the kitchen
and bathrooms). It has a an attached 2 car garage, 2 bedrooms and 2 baths. The master's bathroom is only a 3/4, but the shower is fairly large.
The laundry room serves also as the main linen closet, so it has the feel of a gigantic walk-in closet. The full basement is totally unfinished and clean. If you'd like a clean, blank canvas from which to start, this one should definitely be considered. Assessed for $189,697. Did I mention this one is a good deal? Walkthrough:
2813 Alan Street, Fort Collins: $99,000. 3 bed, 1 bath, 1191 sq ft, 1977. "Surely that's a typo, right Crip?" you ask. "$99,000 for a house in Fort Collins? Are you sure it's not a condo?" Calm down and let me explain. First of all the bad news: The house sits in a flood zone. In fact, HUD states, "Property located within 100 year floodplain, flood insurance is required." I checked the county records and sure enough it IS in a flood zone, but according to Larimer county, it is a 500 year flood zone. A quote from an insurance agent is really the only way to find out how much extra insurance a month this place will require. And if you're wondering where this place is, it's in Countryside (that subdivision just off of the SW corner of Summit View and Mulberry. The house itself is cyclopian
with its unbecoming 2-story layout, one-car garage and bedroom window above it, but the back of the house is nice (except for the missing garage door). And speaking of missing doors, a bunch of them are gone as is the toilet. The kitchen is intact and surprisingly nice,
and the living room is also set up for a wood burning stove. At this point, I should once again mention the price: $99,000. HUD has flagged the furnace, the plumbing and the missing door between the house and garage. Overall I challenge anyone to find a cheaper house in Fort Collins that doesn't need to be razed. Or isn't a trailer. Or isn't a trailer that needs to be razed. Assessed for $142,100. Walkthrough:
6612 Avondale Rd #5A, Fort Collins: $125,000. 2 bed, 1.5 bath, 1164 sq ft over 604 unfinished, 1997. This townhouse in Ridgewood Hills is technically nicer than our recent listing at Autumn Ridge, and it should be for $20k more. But is a detached garage, a basement and one less bathroom really worth $20k more? More positives: it's an end unit, it has a gas fireplace, the location is super quiet (with a nice common back yard area,
comes will all kitchen appliances
AND the washer and dryer. Bummers: It probably needs new carpet, jack-and-jill layout of the upstairs bathroom isn't for everyone, it will get tons of bids because of the $100 down incentive. Assessed for $163,400. Walkthrough:
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. Walkthrough:
2012 27th Avenue, Greeley: $127,000. 3 bed, 2 bath, 1672 sq ft over full finished basement, 1972. 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 its $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!" Notice she called it a massive monster. Also, the flash reveals a bit of a diner down in the basement, with at three booths for seating.
Assessed for $166,658. I should also mention this house is in the fairly desirable Cascade Park subdivision. Walkthrough:
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? *PLEASE REMEMBER AS A RELIST THE BIDS FOR THIS ONE ARE DUE TUESDAY THE 14TH. Walkthrough:
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 7-14-2009. Assessed for $166,700. 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!
1401 Windjammer Drive, Windsor: $145,000. 2 bed, 2 bath, 1346 sq ft over full unfinished, 2004. This sharp Water Valley house would be completely awesome if it didn't look exactly like every other house on the street,
so it has to settle for just merely awesome. Price-wise, this one is a great deal with other identical units on the street currently listed for $170k and $183k. One of them even boasts it's "the lowest price in Water Valley!" Uh, no. Its only repair requirement escrow-wise is to install carpet throughout the main floor (there's absolutely none,but the linoleum remains in the kitchenand bathrooms). It has a an attached 2 car garage, 2 bedrooms and 2 baths. The master's bathroom is only a 3/4, but the shower is fairly large.The laundry room serves also as the main linen closet, so it has the feel of a gigantic walk-in closet. The full basement is totally unfinished and clean. If you'd like a clean, blank canvas from which to start, this one should definitely be considered. Assessed for $189,697. Did I mention this one is a good deal? Walkthrough:2813 Alan Street, Fort Collins: $99,000. 3 bed, 1 bath, 1191 sq ft, 1977. "Surely that's a typo, right Crip?" you ask. "$99,000 for a house in Fort Collins? Are you sure it's not a condo?" Calm down and let me explain. First of all the bad news: The house sits in a flood zone. In fact, HUD states, "Property located within 100 year floodplain, flood insurance is required." I checked the county records and sure enough it IS in a flood zone, but according to Larimer county, it is a 500 year flood zone. A quote from an insurance agent is really the only way to find out how much extra insurance a month this place will require. And if you're wondering where this place is, it's in Countryside (that subdivision just off of the SW corner of Summit View and Mulberry. The house itself is cyclopian
with its unbecoming 2-story layout, one-car garage and bedroom window above it, but the back of the house is nice (except for the missing garage door). And speaking of missing doors, a bunch of them are gone as is the toilet. The kitchen is intact and surprisingly nice,and the living room is also set up for a wood burning stove. At this point, I should once again mention the price: $99,000. HUD has flagged the furnace, the plumbing and the missing door between the house and garage. Overall I challenge anyone to find a cheaper house in Fort Collins that doesn't need to be razed. Or isn't a trailer. Or isn't a trailer that needs to be razed. Assessed for $142,100. Walkthrough:6612 Avondale Rd #5A, Fort Collins: $125,000. 2 bed, 1.5 bath, 1164 sq ft over 604 unfinished, 1997. This townhouse in Ridgewood Hills is technically nicer than our recent listing at Autumn Ridge, and it should be for $20k more. But is a detached garage, a basement and one less bathroom really worth $20k more? More positives: it's an end unit, it has a gas fireplace, the location is super quiet (with a nice common back yard area,
comes will all kitchen appliancesAND the washer and dryer. Bummers: It probably needs new carpet, jack-and-jill layout of the upstairs bathroom isn't for everyone, it will get tons of bids because of the $100 down incentive. Assessed for $163,400. Walkthrough: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. Walkthrough:2012 27th Avenue, Greeley: $127,000. 3 bed, 2 bath, 1672 sq ft over full finished basement, 1972. 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 its $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!" Notice she called it a massive monster. Also, the flash reveals a bit of a diner down in the basement, with at three booths for seating.Assessed for $166,658. I should also mention this house is in the fairly desirable Cascade Park subdivision. Walkthrough: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? *PLEASE REMEMBER AS A RELIST THE BIDS FOR THIS ONE ARE DUE TUESDAY THE 14TH. Walkthrough:
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 7-14-2009. Assessed for $166,700. Walkthrough:
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