The NEW HUD LISTINGS FOR 11-6-2009!
▲ 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.▼
3512 Settlers Rd, Laporte: $160,000. 4 bed, 1.75 bath, 1613 sq ft, 1977, 2 car attached garage. This bi-level is a quirky combo of cool and not-so-cool updating, but there's more hits than misses. The biggest miss is the lack of a deck. Instead, there's the appearance of a deadly drop-off from the sliding glass doors, made worse by the overall appearance of the dilapidated kitchen. The lower level fares better, with the more recent tiled floor and bathroom. If you want a big ol' yard but don't really want to buy a cow to keep it in check, consider this place. Assessed for $(please call). Pictures of the property RIGHT HERE.
1220 Eilene Pl, Loveland: $117,000. 4 bed, 2 bath, 1515 sq ft, 1978 sq ft, 2 car garage. This striking house sits on the corner of Diana and the small Eilene cul-de-sac and has an attractive lot. The niceties end there. Inside it is a mishmash of lame-o design, terrible pee smell, trashed floors and drug-induced color choices. Very rarely do I have The Sight of a finished fix and flip, but in this case it is literally all I can bear to see. Budget for a complete overhaul cosmetically; nothing shall remain. All walls must be painted, all carpet and flooring must be replaced, every single piece of hardware must go, for that matter every door needs to find a landfill. New light fixtures are needed, etc. Get the idea? Fortunately, the adjacent houses are in good shape and will, hopefully, support your massive fix and flip undertaking. Assessed for $. Pictures of the property start RIGHT HERE.
1256 22nd St SW, Loveland: $112,000. 3 bed, 2 bath, 1216, 1977, 2 car garage. This tri-level in south Loveland is completely FHA-insured, but would benefit largely from paint inside and out. You could certainly move in and repair as needed, so anyone looking for a solid buy in Loveland should check this out. This one sits just blocks from our recent HUD on S Custer, which is nearly identical (if not totally identical) to this one. Assessed for $. Pictures of the property start RIGHT HERE. (Please note they are mislabeled as 926 Paloverde.)
926 Paloverde Dr, Loveland: $137,500. 4 bed, 1.5 bath, 1744 sq ft, 1963, one car attached. This big yellow bi-level is a good opportunity buried underneath 45 different and horrible color choices. The back yard is huge and has one giant tree in the middle of it, and there's a small deck with a makeshift railing. The neighborhood is solid (it's three blocks north of Eisenhower and 4 blocks west of Madison) and most of the issues are simply cosmetic. The other 'serious' issues concern repairing the siding and adding a sink to the lower half-bath.Assessed for $. Pictures of the property start RIGHT HERE.
4394 W 2nd St, Greeley: $127,000. 3 bed, 2.5 bath, 1350 sq ft 2 Story over finished basement, 1979, 2 car attached garage. Many of you think I'm joking when I urge you not to paint your house the colors you see here. This house, with its Band-Aid main color and dark brown trim, features the most common HUD home exterior palate. Just don't do it. Inside, there's turquoise. Don't do that either. As far as the rest of the home, I like it quite a bit. Sure it needs carpet (like most of this week's inventory, it smells like mistreated dog) and suffers from a lack of updating throughout, a LOL stainless steel kitchen sink in the bathroom, and a dark kitchen. On the upside, this house would look sharp with simple paint, the fenced backyard is spacious, and the basement hides a really cool office with a 3/4 bath. Looking in west-ish Greeley? You'd do well to check this out. Assessed for $. Pictures of the property start RIGHT HERE.
2425 W 9th St, Greeley: $57,000. 3 bed, 1 bath, 936 sq ft, 1941, 1 car detached. This little bungalow is two doors down from the "Dr. Seuss" house at 2445 from two weeks ago. However, they couldn't be more different in terms of condition. Where 2445 was quirky but updated and clean, 2425 is a conventional (read: boring) layout and is fairly grungy, particularly the kitchen. Watch this one get a price reduction and then consider it. Pictures of the property start RIGHT HERE.
2306 Apple Ave, Greeley: $67,000. 3 bed, 2 bath, 1572 sq ft, 1996, attached 2 car. Why the disgusting, awful carpet remains throughout this house I don't know. I will say this: 3 years ago this house would have been listed (and sold) over $100k. I shall say no more. Assessed for $. Pictures of the property start RIGHT HERE.
608 Campbell, Kersey: $150,000. 3 bed, 2 bath, 1726 sq ft, 2005, 2 car attached. This place appears to be in move-in condition and it could almost pass for a new build. But alas, this may be the smelliest of the bunch in terms of dog pee. Budget for carpet and some air fresheners and little else. Features a super-dope ceiling fan, a fenced back yard with a kennel, and an intact kitchen. Pictures of the property start RIGHT HERE.
166 20th Ave Ct, Greeley: $80,000. 3 (easily a 4) bedroom, 2 bath, 1464 sq ft, 1994, attached two car garage. This is but a block away from the 19th Ave Ct property we had two weeks ago, and this one also features a bizarre converted-covered-patio plywood room that somehow doesn't eliminate the property from being completely FHA-insured WITHOUT a repair escrow. Incredible. Even more so, this house isn't half bad, with attractive wood floors on the small main floor and the oversized garage. You could do worse. And boy was the neighbor kid apologetic (and totally frightened) when he hit my car with his Nerf football. Do I really look that sinister? Pictures of the property start RIGHT HERE.
Relist: 41616 Highway 125, Cowdrey: $99,000. 3 bed, 2 bath, 1999 sq ft over 1499 mostly unfinished bsmt, 1975. Where's Cowdrey you ask? It's south of Walden. Have I been to this property yet? Nope. Because it's 3 hours away and the previous listing agent tells me it needs "$70,000 worth of work" I'll probably wait until somebody wants to buy it before I head out there. This one sits on 3/4 acre, and I can't tell you what it's assessed for because Jackson County has very little info available. In fact, the house still shows some church as the owner of record. Hmm, a church with an FHA loan? Isn't lying a sin?
109 S Washington Avenue, Fort Collins: $128,000. 1 bed, 1 bath, 912 sq ft w/ 200 ft cellar, 1918. Many of you have already heard about this little gem one door south of Mountain. At first glance it appears to be a run-down scraper next to another neglected 2-story. But word on the street is the neighboring property is getting some flip love, which bodes well for whomever picks up this massively under-priced (but small) HUD. It won't be easy, however. HUD writes: "Repairs exceed $5000. Remove damaged fiberglass porch cover. Repair soffit, garage window, floor settlement, garage door, roof shingles." Eligible for FHA 203k financing, but my crystal ball is telling me this one will go to whomever can secure conventional financing and endure overbidding. Assessed for $. Pictures of the property start RIGHT HERE.
Relist: 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. UPDATE: This place was relisted with a handful of new repairs, namely: "Replace water heater; repair water damage in bathrooms; remediate mold like substance." It is also now eligible for only the 203k variety of an FHA loan (or conventional or cash, obviously). Investors, be prepared to pounce on this one. Video: Pictures of the property start RIGHT HERE.
Relist: 210 20th Ave Ct, Greeley: $57,500. 4 bed, 2 bath (listed as a 3 bed, 1 bath), 988 sq ft over full basment, 1975. This brown house has brown brick, brown vinyl siding, brown trim, brown gutters and a brown roof. There's 3 fairly small bedrooms and a nicely tiled bathroom on the main floor; a big bedroom and a nice 3/4 bath are in the basement as well as a long living room with a bar. This place also has a nice fenced yard, and after reviewing the place and looking at the stats I've determined this one hits the brown note as a good deal. Assessed for $83,667. Pictures of the property start RIGHT HERE.
Relist: 1012 31st Ave, Greeley: $62,000. 3 bed, 1 bath, 1026 sq ft, 1960. Scope the video walkthrough (it might be my finest ever): The pictures for the property start RIGHT HERE. Two or more thumbs DOWN on this dump a door or two away from busy 10th Street. Mold, bad tile, bad vibes, you name it. Avoid. UPDATE: Apparently, whomever had this under contract came to their senses.208 E Park Ave, Pierce CO: $80,000. 3 bed, 2 bath, 1716 sq ft, 1998. This is a "Manufactured home. Property is located within 100 year floodplain, flood insurance is required. Roof replacement needed. The decks have deteriorated & warped boards. Exterior paint is deteriorated, scraping & new paint needed." Their words, not mine. I'd probably have a few more to add as well. Like how at this price you'd think it sat on some acreage. It doesn't - in fact, the lot is basically similar to a move-in condition current Greeley HUD for half the price and 10x the financibility. Pictures of the property start RIGHT HERE. Get it? There aren't any.
Price Reductions
Relist:
1226 4th Street, Greeley: $27,180. 2 bed, 1 bath, 756 sq ft, 1918. Another uninsured property. No longer eligible for 203k financing. And if anyone cares, HUD has reduced the dollar amount of LBP they will abate to under $4000. 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: 
2537 9th Avenue Ct, Greeley: $55,800. 3 bed, 1.5 bath, 940 sq ft, 1945. This little ranch is actually in better than average condition with a minor repair escrow for furnace blower fan.* It has a big ol' backyard and it is quick cleaning away from being in move-in condition. It also may shock you to know this much house may actually sit on the market at this price.
323 Grant Ave, Nunn: $50,400. 2 Bed/1 Bath, 2108 square feet w/ basement (1897 finished, including basement), 1927. Erica, being paid by the word, wrote: “In actuality this house is a 5 Bed + 1 non conforming/3 bath (if you count the 3/4 bathroom in the detached garage). Definitely one of the more interesting houses I have ever been to! This house sits on a very large lot with many old trees. The house has a sandstone stucco exterior with a flat roof, giving it a very unique look from the curb. Included is a detached garage that was probably used for some sort of trade, and as mentioned before also includes a 3/4 bath. There is also a shed that looks like it used to house some sort of animal, as well as a chicken coop (there was no way I was going to investigate the chicken coop BTW). Now, the interior of the house was an unexpected mix of charm, work needing to be done, and work recently done. The main level of this ranch has hardwood floors throughout and includes two upper bedrooms, a bathroom that is missing the toilet and sink, a kitchen missing the doors on all of the cabinets, a fireplace, and hutch cabinets built in throughout. The stairs leading down to the basement definitely need some work, but almost all of the basement has been recently updated. There are three bedrooms with new clean carpet, and one waiting to be finished. The hallway consists of tile and there is also a large living room and a full bath that appear to be in great condition. To sum this house up: "I'm not quite sure" seems to be the best fit!” Assessed for $160,623. Reduced again! Pictures of the house start RIGHT HERE.That's going to do it for now. Remember, the HUDs are a small part of what we do, and nobody does them better. But we deal with 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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