Tuesday, March 2, 2010

2-26-2010: Don't Kill Yourself On The Water Front Edition

Why the macabre title?  Because I did most of the Greeley viewings in total darkness.  It was a blast, aside from a near death experience in 10th Street (more on that later).  And yes, we do have a water front property this week.  Actually, make that a Water Front property.  Check 'em out in...

NEW HUDS FOR 2-26-2010
click for ordered pics of all the properties!


1. Property Photo 820 21st St, Greeley: $45,000.  Over/under duplex, built in 1928. Unit 1: 2 bed, 1 bath, 709 sq ft. Unit 2: 2 bed, 1 bath, 737 sq ft (!).  I like this funky, yellow stucco duplex near UNC.  It's in far better shape than any $45k house has a right to be, especially since it is a legitimate duplex.  This one might be worth considering if you have a hankering for raised toilets
(think of it as a riser), wood floors and the color yellow. Click here for more info, pics or a showing.


2. Property Photo 1620 41st ST, Evans: $90,000.  4 bed, 2 bath, 1450 sq ft, 1993, INSURED, $100 Down.  This tri-level is actually in great shape and other than the green carpet it approaches move-in condition.
 


3. Property Photo 2704 Water Front St, Evans: $115,000. 3 bed, 2 bath, 1228 sq ft over full unfinished bsmt, INSURED, $100 Down.  No it isn't really on the water.  In fact, it over looks a prairie view.  Prairie View Drive, that is. Click here for more info, pics or a showing.

4. Property Photo 1815 30th St Rd, Greeley: $47,500. 2 bed, 1 bath, 931 sq ft, insured with $1210 escrow, $100 down.  This lil' ranch needs carpet.  Bad.  The kitchen is pretty beat up, and I don't have much to say about this one other than, well, if you have $47,500 to spend on a house, buy 820 21st ST and give me the other $2500 for making your day. Click here for more info, pics or a showing.

5. Property Photo 1225 10th ST, Greeley: $75,000. 4 bed, 2 bath, 1562 sq ft, 1915, insured with $2915 escrow, $100 down.  I really like this old 2 story.  It has oodles of charm
and has been refinished and updated in a manner that keeps the old feel while making it perfect for a business (it is surrounded by businesses on 10th Street, which is business 34 to you newbs).  I'll even forgive the fact the "USAFE STAIRS" tried to eat me.  That'll teach me to look at our HUDs in the dark without a flashlight.  Wired on coffee.  While distracted by loud music. Click here for more info, pics or a showing.

6. Property Photo 1924 Oakwood Dr, Fort Collins: $169,000. 3 bed, 1.5 bath, 1002 sq ft, 1961, insured with $1100 escrow, $100 Down.  I don't believe I've ever written this before, but this Fort Collins HUD serves as this week's disappointment.  I'll sum it up best by the question my client Adam asked me while in the house today: "Why is this such a good deal?"  Basically, I told him the truth: I never said it was.  I can say that about 99% of our HUDs, hence this silly blog.  But this needs more work than may be worth one's time.  Sure it may sell to somebody seeking the $100 down HUD, ANY HUD, in Fort Collins, but more than likely it will sell to an investor in the $150's.  Scope the video.   As I not-so-eloquently explain in the video, one of my concerns was the condition of the exterior paint.  However, the LBP disclosure MCB has posted says there are no records of LBP.  Nevertheless, the house needs paint.  And siding.  And soffits.
  And perhaps a roof.  And grading around the house.  And gutters.  And MAD updating.
The house does have three things going for it: location, location, location.  If you're wondering, it is essentially the Campus West area and backs to Avery Park.
The neighboring houses are sweet (good on ya, neighbors - seriously) so if you want a project with long-term potential check this one out. Click here for more info, pics or a showing.

7. Relist: Property Photo 4001 Golden Street, Evans: $57,000. 2 bed, 2 bath, 2152 sq ft, 1913. This funky, surprisingly large and very woody house sits across the street from our recent HUD at 4002 Golden. It is on a HUGE fenced corner lot and has 3 large living rooms. There is also a 3rd non-conforming bedroom in the lower level. It's listings like this that make me glad I finally started shooting video because I'm at a loss in describing this place. Assessed for $81,348. Here's your visual aid:
This is the 2nd relist, but this now comes back $10,000 cheaper with no explanation. Click here for more info, pics or a showing.

8. Relist: 31322 4th St, Gill: $84,000.  3 bed, 2 bath, 1432 sq ft, 1997.  This one has been around since July 2009 when we first listed it for $120k.

I still think it's an awesome house for the money (but it is in Gill).  It's in great shape, has a decent master suite and sits on a large lot with a septic system (and a buried whale).
Video:
  I will throw a disclaimer in here and say I've heard secondhand info about the septic system.  Click here for more info, pics or a showing.
9. Relist: 2307 Apple Ave, Greeley: $79,000.  3 bed, 2 bath, 1600 sq ft, 1996.  This East Greeley bi-level is in need of a bit of love (and an air freshener or two) and the previous sure did like their ceiling fans (there's 3 in the lower family room).  On paper it has it all though: 2 car garage, fenced yard, the right # of beds and baths and the right price.  Open to all bidders. Click here for more info, pics or a showing.

10. Relist: 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.

11. Property Photo 1226 35th Ave, Greeley: $95,000. 3 bed, 1.5 bath, 2360 sq ft, 1959.  This big sprawling ranch has no bathroom, so it's perfect for those looking to have everything on one floor.  It is right on 35th Avenue but  right across from Bittersweet Park, and whatever that lake is.  Bittersweet Park Lake?  The kitchen is in great shape but there's a laundry list of repair escrow item.  Click the pic for more info on that, or click here for more info or showing.














PRICE REDUCTIONS

1. 347 Red Bud Ct, Eaton: $156,600. 3 bed, 2 bath, 1962 sq ft, 2001.  Yet another in Eaton Commons, this one is an extremely clean, fully insured tri-level with a three car garage.  It sits at the end of a cul-de-sac, has a big pie-slice shaped yard and even has all the remotes for the garage door opener and ceiling fans. If you want a move-in condition property, complete with kitchen appliances, look no further. Click here for more info, pics or a showing.  Pics: http://captainfantasy.shutterfly.com/11377  Bids due Tuesday 3-2-2010.

2. 2441 W 9th St, Greeley: $76,000. 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).  It is a fairly sharp house on the inside with a bit of a funky, old 2-story layout and 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, but beware of roof issues. While under contract, it appears as if something happened.  Click here for more info, pics or a showing.  Pics: http://captainfantasy.shutterfly.com/10593  Bids due Tuesday 3-2-2010.


3. 504 N 28th Ave Ct, Greeley: $88,200. 2 bed, 1.5 bath, 1062 sq ft, 2001.  This townhouse/half duplex sits just north of C Street and is fully FHA insured, meaning it qualifies for the $100 incentive with NO repair escrow.  That doesn't mean it's perfect (it needs carpet and paint as well as a cabinet door) but the repairs are largely cosmetic.  Highlights include the attached 2 car garage and a long fenced yard. Click here for more info, pics or a showing.  Pics: http://captainfantasy.shutterfly.com/11359  Bids due Tuesday 3-2-2010.

4. 37266 WCR 65, Galeton: $57,750.  3 bed, 2 bath, 1623 over full basement w/ some finish, 2001.  First: "Manufactured home connected to a shared well. Appraiser recommends a survey of the septic tank to determine if it is buried deep enough and if it meets lot line requirements. Foundation inspection recommended due to moisture in the basement- may include replacement of gutters and regrading. Plumbing and heating systems are inoperable. Buyer must obtain permit and correct county code violations: shingles coming off roof, deck is unsafe, mold-like substance in basement, and loose electrical receptacles."  Need I say more?  By the way, the gentleman that supposedly shares the well doesn't much care to share it.  He's also given me a bunch of other invaluable info.  My advice?  Unless you want to pay cash to buy something that needs major work out in the middle of nowhere (and yet be somewhat close to your neighbors), I'd pass.  And yes I've been in this one. Click here for more info, pics or a showing.

That's going to do it once again.  Drop me a line if you'd like to check any of these out or if you have any questions on HUDs or real estate in general. 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