Wednesday, April 14, 2010

Crip's HUD Report 4-9-2010: Everything Active Edition

Hey folks!  Yes, sorry it has been a while but my current clients must come first.  I have a slight break in the action to bring you the latest, so let's start with...

click for pics of all the properties!

1406 101st Avenue Ct, Greeley: $165,000. 4 bed, 2.5 bath, 2103 sq ft over 1177 sq ft unfinished basement, 3 car garage, 2002.  There's a lot to like in this house - the location in Promontory rocks, as it currently backs to open space.  The overall condition is well above average, with only minor carpet damage here and there.  The kitchen is lacking all kitchen appliances (the only bummer) but the rest of the house is intact, with a large master suite, tiled entryway and kitchen, fenced yard, and an elegant 2 story layout.   The biggest drawback?  Expect there to be some activity on this one, especially since it qualifies for the $100 Down incentive with NO repair escrow.  Pics start here:  Click here for more info, pics or a showing.

286 30th Avenue, Greeley: $67,000. 3 bed, 2 bath, 1300 sq ft, 1997, 2 car garage.  This manufactured home is in decent shape and actually will qualify for an FHA loan (and the $100 Down incentive) with a repair escrow of $1595.  Just make sure your lender can do it.  Pics start here:  Click here for more info, pics or a showing.

213 16th Ave Ct, Greeley: $40,000. 3 bed, 1 bath, 1200 sq ft, 1962.  This vaguely NE Greeley ranch is in decent shape interior-wise for a $40k house, but the exterior is in need of paint and soffit repair.  One would expect there to be LBP issues with this one, but alas it is insured with a $1980 repair escrow.  Pics start here:  Click here for more info, pics or a showing.

233 E 19th ST Rd, Greeley: $81,000. 2 bed, 1 bath, 882 sq ft over 882 unfinished, 2002, 2 car garage.  No, the 2 beds is not a mistake (nor is the price) - this is a bi-level with an unfinished lower level.  This sits just northwest of Wedgewood sub and is a newer area, but is it really worth $81k?   Expect it to move just because what's there is in good shape, it will go $100 Down, and somebody may be able to get it under contract in time for the tax incentive.  Everything must go!!!!!  Click here for more info, pics or a showing.

Relist: 2832 15th Avenue CT, Greeley: $47,500. It's back, and it's still weird.  Best thing going for it is the gigantic detached garage, which I would ballpark around 700 sq ft.  The rest of the house has a wonky, unfinished vibe to it, and the layout suggest a modular or manufactured (although I believe it is neither). Click here for more info, pics or a showing.

3418 W 11th ST Rd, Greeley: $90,000.  5 bed, 2 bath, 912 sq ft over 912 mostly finished, 1961, 1 car garage.  This Westwood ranch is currently listed as a 3 bed, 1 bath.  Qualifies for the $100 Down incentive with a $2750 repair escrow for replacement of the floor coverings and plumbing repair.  Click here for more info, pics or a showing.


101 1st ST, Severance: $65,000. 3 bed, 2 bath, manufactured home in Severance, uninsured.  Meaning hard to buy.  Click here for more info, pics or a showing.

1412 15th Ave, Greeley: $101,000. 4 bed, 2 bath, 1720 sq ft, 1926, 1 car detached.  This is an over/under duplex that HUD is calling a bi-level (hence the below-grade sq footage being used in their numbers).  The walk-out basement serves as a separate entrance, and both units are set up extremely well.    The alley access helps as there is no driveway to the house.  The price is a tad stout, especially since it won't go FHA.  Pics start here:  Click here for more info, pics or a showing.

404 Tedmon Dr, Fort Collins: $162,000.  3 bed, 1 bath, 1346 sq ft, 1961, 1 car attached.  This almost-in-Old-Town HUD home is located just west of the intersection of Cherry and Shields.  It's a long ranch that isn't in bad shape, it's just dated.  The kitchen is on the small side, but let's just call it typical for an early 60's ranch.  AND it qualifies for the $100 Down incentive with a repair escrow of $1650.  Click here for more info, pics or a showing.

1621 Marilyn Ct, Loveland: $161,000. 3 bed, 2 (1!) bath, 1978, 1884 sq ft, 2 car attached.  This bi-level is literally missing the upstairs bathroom (it's an empty room) and given the amount of work it needs is totally not in line with its current price.  When it eventually gets down to $145k it may be worth considering.  Click here for more info, pics or a showing.

226 Robin Dr, Loveland: $93,600. 3 bed, 2 bath, 1396 sq ft, 1985.  Just reduced on Friday, and bids are due tonight.  This is a modular in Ross Estates (south Loveland near Campion).  Click here for more info, pics or a showing.

1811 19th Ave, Greeley. $101,250. 2 bed, 1 bath, 1038 sq ft, 1951, 1 car attached.  I've mentioned this one before, and it too just received a price reduction.  It is really more like a one bedroom, with a 2nd office set up that has French doors that open to a drop-off in the sunroom at the back of the house.  It's hard to describe, but seems fairly unsafe and I question the point.  The rest of the house is cool, and the location just south of the hospital is a big plus.  Click here for more info, pics or a showing.

310 Main St, Briggsdale: $82,400.  4 bed, 2 bath, 2280 sq ft, 2002.  This MASSIVE modular home sits right in Briggsdale proper.  HUD calls it a manufactured home, it sits on just over a quarter acre and, in a rare turn of events, is completely FHA insured, meaning this one will go $100 down.  Bids due Tuesday, 3-23-2010.  Click here for more info, pics or a showing.

Property Photo 330 N Shields St, Fort Collins: $148,000. 4 bed, 1.75 bath, 1597 sq ft, 1956. Back again from the murky pits of meth testing, but it has fortunately passed the test. The highpoint is the corner lot on Shields and Cherry - it's huge (just shy of a quarter acre at 10,000 sq ft) and most of it is devoted to the fenced back yard with barbecue pit and wisely placed trees. My original assessment of this property was fairly negative based on a sales price of $185k.  Now nearly $40k less, I have a bit more love for the house.  The garage access is on Shields, and the street noise in the house is substantial. The exterior has oodles of deferred maintenance and there aren't any gutters to speak of. It is a long, charmless ranch and it feels like there have been a couple of additions, including transforming half of what would have been a killer garage into a 4th bedroom. To its credit, the main half of the house has decent wood floors and it does have all the kitchen appliances. This one is uninsured, so cash or conventional only! Assessed for $239,500. Scope the video walkthrough:   Lazy? The pictures of this place start RIGHT HERE. UPDATE: In case you can't remember, this hit the market at $185,000. At this price it could be a flip.  Click here for more info, pics or a showing.

Property Photo Relist: 41616 Highway 125, Cowdrey: $88,000. 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?

Property Photo 1424 12th Street, Greeley: $74,000.4 bed, 2 bath, 943 sq ft over full finished, 1926. Before checking this place out I was really questioning the price. Circular driveway aside, I couldn't really see a reason for such a stout price on a 'typical' 80+ year-old HUD home. However, once I got into the basement I understood: It is set up as a totally legit basement apartment, with a gigantic egress window in the bedroom. There's a second bedroom down there old listings have noted, but I wouldn't call it one. The kitchen in the basement is intact, in fact it's nicer than the main floor kitchen. And if you're concerned about the validity of the lower apartment, don't be: the land use is DUPLEX. This is a great buy for somebody looking to live in a cool, wood-floored old house and have somebody help with the mortgage. Assessed for $115,000. Scope the video walkthrough:   I should note this one has returned UNINSURED due to lead based paint and oodles of damage.  Click here for more info, pics or a showing.

And there you have it.  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. I do have walkthroughs of some of these that I didn't have time to find and post, but let me know and I can get 'em up.  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 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