Sunday, January 31, 2010

Crip's HUD Report 1/29/2010: Six Bedroom Edition

Hello y'all.  There's simply too much to get to this week and I've wasted 3 seconds of your time already, so quickly prepare yourself for...

THE NEW HUDS FOR 1-29-2010 
click for pics of all the properties!


508 Leo Court, Fort Collins: $121,500. 3 bed, 1 bath, 988 sq ft, 1978. Back again.  Rather than describe this little fixer-upper in south Fort Collins, I'll just ask that you watch the video and draw your own conclusions.  Can you find a cheaper house in Fort Collins?  Possibly.  Will it be as good a deal as this one?  Doubtful.  Reminder: this one qualifies for the $100 down incentive with a repair escrow of $3300 for "replacement of bathroom fixtures and replacement of the electrical meter."  Bids due Tuesday 2-2-10.
Pics: http://captainfantasy.shutterfly.com/11480
Video: http://www.youtube.com/watch?v=CXfOVajj50Y
Click here for more info or showing.

428 E 28th St Ln, Greeley: $100,000.  3 bed, 2 bath, 1098 sq ft over full unfinished, 2006.  This corner-lot ranch sits two blocks south of last week's property at 330 E 28th St Rd and is nearly identical.  The carpet needs a good cleaning (or replacement) but outside of that it is ready to go.
The driveway is a downhill ski slope so approach with caution, or climbing spikes.  Fully FHA insured, ready to go for the $100 down incentive.
Pics: http://captainfantasy.shutterfly.com/11476
Video: http://www.youtube.com/watch?v=ssIKSK1J0Gs
Click here for more info or showing.

501 35th St Ct, Evans: $35,000. 3 bed, 2 bath, 1200 sq ft over a full, unfinished and mold-filled basement, 1985.  I didn't take any pictures or video of this place because, really, there's no point.  There's nothing redeeming about the house other than the price.  But if for some reason you desire a manufactured home that appears to have had at least three feet of standing water in the basement check this one out.
Strangely enough, I prefer the moldy basement to the main level.  Next...

2907 W 12th St, Greeley: $102,000.  6 bed (!), 2 bath, 1067 sq ft over full mostly finished, 1960.  Perhaps you remember our other listing at 2907 W 11th St Rd.  No?  Well, I make 18 comparisons to it in the video for this property, but just know they are identical structures with the notable difference of a garage on the subject property here.  There are also 3 bedrooms on the main floor (the 11th St Rd house has a pseudo-master that was conjured by knocking down a wall, thereby conjoining two bedrooms).  The wood floors on the main level are in great shape
and it is simply just dated overall.  It has a covered patio, a decent fenced yard and is, again, totally FHA insured making this one an easy buy for the $100 down incentive.  Looking in Greeley?  Like the 60's brick ranches?  Look no further.
Pics: http://captainfantasy.shutterfly.com/11461
Video: http://www.youtube.com/watch?v=1uiTOtD9-84
Click here for more info or showing.

2220 A Street, Greeley: $77,000.  5 bed, 2 bath, 1792 sq ft, 2000.  Other than the mold-trailer that is 501 35th St Ct, this is the most beat-down of this week's inventory.  However, all of the repairs are cosmetic in nature, and there's actually quite a bit of house here for the money.

It is a bi-level in north Greeley with a fenced back yard, 2 car garage and an abundance of rooms, and there's also the remains of a kitchen in the lower level.  I don't think you'd want or can use it as a duplex, especially with the sole laundry area being in the lower bathroom.  If you don't mind ugly and like some value, check this one out. Fully FHA insured, ready to go for the $100 down incentive.
Pics: http://captainfantasy.shutterfly.com/11444
Video: http://www.youtube.com/watch?v=DpYoDXXJvuk
Click here for more info or showing.

24631 Railroad St, Eaton: $55,000. 3 bed, 2 bath, 1500 sq ft, 2004.  Our only UNINSURED property this week sits in the Camfield subdivision NE of Eaton.  The home itself is in exceptional condition
(scope the video and pics to see) but what lies beneath is the source of its meager price.  HUD writes: "Manufactured home has propane, well & septic systems. The separation distance between well & septic may not meet HUD guidelines per appraiser. Plumbing lines may have freeze damage. Fill dirt is needed on west side of house for drainage. Propane tank for HVAC is missing."  If this is right up your alley, let me know.  Incidentally, the location of this place in terms of Camfield is about as desirable as you can get - it's in the SW corner of the subdivision at the end of the road.
Pics: http://captainfantasy.shutterfly.com/11428
Video: http://www.youtube.com/watch?v=9pXskE487yk
Click here for more info or showing.

5450 County Road 74, Carr: $160,000. 4 bed, 3 bath, 2052 sq ft, 1998.  Situated on 35 acres!  It is also a rare HUD manufactured home that qualifies for the $100 down incentive with a $1980 repair escrow for plumbing, heating and repair of the crawlspace access.  Want a well?  Want some acreage?  Want to get in for $100 down?  Want to live in a ghost town?  Dreams can come true.

41616 Highway 125, Cowdrey (near Walden): $99,000.  3 bed, 2 bath, 1999 sq ft over full basement, 1975.  Ah yes, back on the market for the 3rd time.  And while I don't know the particulars of why it keeps coming back I do know the house needs some work, more than the minor repair escrow of $220 implies (incidentally, the $220 is for a toilet.)

Price Reductions

2229 Durango Dr, Loveland: $160,200.  2 bed, 3 bath, 1576, 1986.  Interesting joint this one.  On the one hand, it is very clean and intact throughout, if not very, very orange.  It has a nice deck with a hot tub, a river rock hearth,

a decent-sized kitchen
and a great location.  On the other hand, it is merely a 2 bedroom, and because of the tri-level layout I'm not sure how you'd squish in another bedroom unless you count the entire lower level as a massive master suite (and I would).  Now offered at a killer price (down from $178,000) so check this one out. Click here for more info, pics or a showing.  Bids due Tuesday 2-2-10.
2441 W 9th St, Greeley: $95,000. 3 bed, 2 bath, 1652 over partial finished basement, 1929.  Initially listed as a fully FHA-insured sale, this one comes back to us UNINSURED because of lead-based paint remediation costs exceeding $4,000 (this is a new rule, if you don't know).  Other than that the house should be fine, and indeed it is a fairly sharp house on the inside with a bit of a funky, old 2-story layout.  The exterior has a quaint Dr. Seuss kind of thing happening with that sloped roof, and because it sits on the corner of 9th St and 25th Ave the massive 2-car garage is accessed from the side street.
I liked it before and I still do. Click here for more info, pics or a showing.  Pics: http://captainfantasy.shutterfly.com/10593  Bids due Tuesday 2-2-10.


That's going to do it for this week!  If I haven't mentioned it before (and I'm pretty sure I have) these go fast, so act quickly if you are even mildly interested.  Believe me, I tend to undersell these things.  Most of the HUDs are remarkable deals, and combined with the $100 incentive they are literally the best deals around.  As always, you can go to my website http://www.cripscribs.com/hud.html and search the entire state's HUD inventory.  Comments, questions and showings please send an email or call me at 970-988-5634.  Have a great week! Crip