Saturday, May 29, 2010

HUD Report 5-28-10: Reductions, Relists and Short Sales!

Hey everybody!  I hope your Memorial Weekend plans involve something other than yard work!  Mine DO involve yard work, but they also involve showings and hanging out with the coolest 3 year old on the planet.

We only received one new HUD this week, but there's still plenty to digest.  Check it out in...

HUD STUFF FOR 5-28-2010

513 5th Ave, Greeley: $25,000. 2 bed, 1 bath, 1008 sq ft, 1900, $100 Down with $3630 repair escrow.  Let's see, it's in a floodplain, has a fat repair escrow and thus a laundry list of repairs (Repair windows, Remediate mold like substance, Repair soffit and fascia, Repair furnace, Repair plaster, Correct interior defective paint). But it DOES have a basketball hoop attached to the front of the house!  And did I mention it's only $25k?  Bids due 6/6/2010

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 owners 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.  Bids due 6/1/2010. Click here for more info, pics or a showing.

Relist: 37266 WCR 65, Galeton: $49,500.  3 bed, 2 bath, 1623 over full basement w/ some finish, 2001.  Reappraised, reduced and re-remarked: "Manufactured home. Previous owner shared neighbor's well, but there is no formal agreement. Septic tank subject to freezing in winter; 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. Property was apprased 5/14/10 and valued at $55000."  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.  Click here for more info, pics or a showing.

Price Reductions

1371 Westwood Dr, Windsor: $184,500. 5 beds, 3 baths, 1017 sq ft over full finished, 2 car attached, 1998, FHA insured with $275 repair escrow, $100 Down.  Here's an interesting fact: Just prior to this becoming the current HUD it is, it was actually listed for LESS.  To be fair, it was a short sale which most people tend to avoid.  And I'm guessing the house showed badly, which is evidenced by scattered crayon on the walls and stains here and there in the carpet.  Overall it is actually somewhat decent, and the fully-finished basement adds a couple more bedrooms and a (kind of) full bath.  I say kind of because it has but a jetted tub - no shower.   And the eastern-most bedroom is either hourglass shaped or it has the largest walk-in closet I've ever seen in a house, HUD or otherwise.  The main floor has a very open living room/kitchen and there's extra parking on the west side of the garage and a large fenced yard.  The small repair escrow is for the replacement of a few shingles but other than that the exterior is in excellent shape.
Check this one out if you're looking for an above-average starter home in the windy city. Pics start RIGHT HEREClick here for more info, pics or a showing.

1412 15th Ave, Greeley: $80,800. 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 was a tad stout, especially since it won't go FHA, but now with its SECOND price reduction this one is a bargain waiting to be had. Two units folks!  And a big garage and fenced yard.

Pics START RIGHT HERE.   Click here for more info, pics or a showing.

Short Sale Listings

Yes, I currently find myself with a few of them.  They're a different breed entirely, and these particular houses are all awesome in their own way.

200 Whitney Bay, Windsor: $249,000.  This Water Valley home is a beauty: the owners have the inside track on granite so there's oodles of the stuff everywhere.  The house is in great shape, has upgrades galore and we're now $20,000 below where we started.  I'm starting to get a lot of showings on this place and it is a PRE-APPROVED SHORT SALE, meaning you're not going to have to wait for months for an answer - 30 days maybe.
Click here for more info, pics or a showing.

325 E Prospect, Fort Collins: $245,000. 3 bed, 2 bath, 1985 total sq ft, 1924, 2 car detached. Don't be scared by the address - this Craftsman bungalow is actually on Peterson, in my opinion. It is close to Old Town and CUTE, with wood floors on the main, and a large bedroom and 3/4 bath in the basement.  The back yard was fenced about a year ago, and it is nicely landscaped.  At the owner's request we aren't doing formal showings but give me a holler and I can arrange it. I tried to get some pics on here but it screwed up my formatting, SO Click here for more info, pics or a showing.

412 Sundance Circle N, Fort Collins: $125,000. 3 bed, 3 bath, 1298 sq ft, 1 car attached, 1995.  Brand spankin' new and not even listed yet.  This is a townhome in north Fort Collins and we're starting out with an AGGRESSIVE price.  Gigantic fenced back yard and good condition throughout (other than a couple of spots where a hungry puppy chowed the wall).  Again, holler for your private showing. Click here for more info, pics or a showing.

Get a kick out of the videos?  Subscribe!   Like or perhaps even love the blog?  Sometimes it isn't terrible to be a FOLLOWER.  As always, please 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 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