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: 2.
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: 3.
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:4.
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:5.
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:6.
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: 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
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