Sunday, September 5, 2010

The HUD Report 9-3-2010: Labor-Intensive Labor Day Weekend Edition

Hey folks!  Thanks for all the recent business many of you have given me - I am thrilled with the opportunity to earn your trust and referrals. I'm going to bust this out as quickly as possible, but that doesn't mean it will be boring.  At least that's what I'm telling myself.  You be the judge.

NEW HUDS FOR 9-3-2010!
click for pics of most the properties! 

536 37th Ave, Greeley: $102,000. 4 bed, 2 bath, 1006 sq ft over full finished bsmt, 1 car attached, 1971, $100 down with $990 repair escrow for a new door, deck repair and stain, thermostat and mold remediation.  This corner lot ranch has 2 beds, 1 bath up and a similar layout in the basement, with a large family room.  Its location in west-ish Greeley is what's going to sell this place. Pics start right here: Owner occupant bids due 9/12/2010; investors daily thereafter if available.

3813 Hamilton Ave, Wellington: $145,000. 2 bed, 1 bath (plus deconstructed versions of each), 936 sq ft over 936 somewhat finished, 2 car attached, 1998.  I had high hopes for this Wellington ranch, but the small repair escrow (for furnace ductwork and "hole in wall" repair) didn't prepare me for the host of issues here.  Most notably, the cement porch is sinking several inches at the front of the house, and the basement is a work in progress.  I'm going to go out on a limb and suggest that any finish work in the basement should be reviewed by somebody, anybody, like perhaps your blind neighbor.  Want some work?  Here you go. 
Pics start right here:  Owner occupant bids due 9/12/2010; investors daily thereafter if available.

1818 6th St, Greeley: $41,000. 2 bed, 1 bath, 747 sq ft, 1 car detached, 1951, $100 down NO repair escrow.  Although the trashed exterior suggests otherwise, this little mid-north-central-east Greeley joint is actually a decent buy.  The interior is far nicer than even 3813 Hamilton (in my opinion) and it kind of smells like nutmeg inside.  And who doesn't like the smell of that?  In moderation, of course.
Owner occupant bids due 9/12/2010; investors daily thereafter if available.

Property Photo 504 Lucca Dr, Evans: $80,000. 2 bed, 1.75 bath, 1074 sq ft, 1 car attached, 2003, $100 Down NO repair escrow.  This is a ground level townhome/condo in the Tuscany subdivision just off of 47th Avenue.  They are nice units, and the subdivision has stabilized a bit.  This particular unit would work well for somebody that is allergic to stairs but doesn't mind putting in new carpet.  I do like the layout here, with a private patio area as well as patio doors off of the master.  If you don't watch the video: I think it smells like there's been moisture in this place.
Owner occupant bids due 9/12/2010; investors daily thereafter if available.

Property Photo 808 37th St, Evans: $38,000. 2 bed, 1 bath, 793 sq ft, 1997, $100 Down with $1210 repair escrow for plumbing and soffit repair as well as exterior trim paint.  This technically-attached dwelling has an old soul.  That is, I felt like I was in a typical 60's ranch when I walked into this place.  It's had a hard 13 years on this planet, and between the rough exterior and holes in the walls from chasing the plumbing gremlins it just feels like it's been beat down.  Then some dude comes along and says it's only worth $38,000.  Don't feel bad for the little guy - he just went from beat down to being a great deal.

Owner occupant bids due 9/12/2010; investors daily thereafter if available.

342 Scotch Pine Ct, Severance: $162,500. 3 bed, 2 bath, 1344 sq ft over full unfinished (but painted!), 2 car attached, 2002, $100 down with $550 repair escrow.   This Timber Ridge ranch sits on the corner of small Scotch Pine Ct (off of Scotch Pine Dr, natch) and as such has a  big lot, with the back yard being entirely fenced.  It is in great shape overall, and is just missing the fridge.  The carpets are likely original but OK, the master is decent sized and has its own bath, and the house is a solid buy overall.  The unfinished basement has better-than-average amateur paintings on the foundation walls of Hawaii, or Jamaica, or Naboo, or something, I don't know. 
Pics start right here: Owner occupant bids due 9/12/2010; investors daily thereafter if available.

Relist:  3009 Hawk Dr, Evans: $96,300. 3 bed, 2 bath, 1043 sq ft over full partially finished, 2001, 2 car attached, $100 Down with $1100 repair escrow for buckling driveway.  I mention the repair escrow in detail because the damage is readily apparent, even as you approach the house, briskly, and with scary music blaring.  The front door step is also leaning, so I might be cautious of the cement work overall.  This is a fairly small ranch with a full basement that has a 4th non-conforming bedroom and a large 2nd bathroom.  Now at $96,300k it's more of a proper deal, but seriously - beware the cement.  Pics start here:  Owner occupant bids are due 9-7-2010, investors thereafter if available.

Relist: 333 23rd Ave Ct, Greeley: $70,000. 3 bed, 1.5 bath, 1092 sq ft, 1997, $100 Down with $3135 repair escrow for plumbing, splash blocks (!) and flooring.  A mere block from 23rd Ave, this is actually in a very quiet neighborhood and features a fenced yard with parking (and a huge gate) for an RV or boat.  The house is essentially split in half - the left side (as you walk in) is one big open living room/kitchen and the right side has all of the bedrooms, the full bath and the laundry (which has a toilet just kind of sitting there).
Owner occupant bids are due 9-7-2010, investors thereafter if available.


2902 Marshall Ash Drive, Loveland: $162,900. 3 bed, 2.5 bath, 1740 sq ft w/ 400+ sq ft bsmt, 1978, 2 car attached, $100 Down with $550 repair escrow for plumbing repair.  This 4-level is located just NW of the intersection of Monroe and 29th in a quiet neighborhood.  It has a very roomy, open feel to it, and other than the stuffy smell it is in very good condition (albeit a bit dated).  Pics start here: Owner occupant bids due 8-24-2010, investors thereafter if available.  This appears to be a great deal, and now reduced almost $20k it eclipses even the smoking Fannie Mae deal next door at....

2914 Marshall Ash Drive, Loveland: $169,900.  3 bed, 2 bath, 2076 sq ft, 1978, 2 car attached, Fannie Mae 3% down.  This is also a 4 level, and obviously in the same quiet neighborhood, but it doesn't have quite the open feel as 2902.  What it DOES have though is new carpet and paint throughout, which gives this a fresh feel.  The back yard is a bit nicer than 2902, with concrete edging throughout and a storage shed.  The main level has wood floors and the basement's 3rd bedroom is kind of a bedroom-in-a-bedroom, so it kinda has 4 bedrooms.  Kinda. Pics start here:  Putting an offer on this one will be a breeze, so let me know if you are interested.  Better yet, if you have a friend or neighbor that ALSO wants to buy a house but you can't bear the thought of being apart, let's put both of these Marshall Ash properties under contract and you can be neighbors for life!  UPDATE: Reduced $10k, awesome deal!


2008 W Vine Dr, Fort Collins: $158,000. 3 bed, 2 bath, 1620 sq ft, MASSIVE OVERSIZED 3 car detached garage w/ shop, 1999, $100 Down with $1320 repair escrow for vinyl siding repair, kitchen sink plumbing, deck stain, and floor coverings in two bedrooms.  This manufactured home sits just east of the intersection of Vine and Taft, and really the selling point is the gargantuan garage.  The house is strange in that the master bedroom suite and living rooms are totally intact (and fairly clean) while the kitchen, bedrooms and entry way are beat up.  Check this one out if you are in the market for a big ol' garage/shop deal.  Will likely see a price reduction soon - make sure you are ready to go. Pics start right here:   Bids reviewed daily.

 PLEASE REMEMBER: The HUDs and other REOs are but a small part of what I do.  Take a moment and look over my FEATURED LISTINGS:

Like or perhaps even love the blog?  Sometimes it isn't terrible to be a FOLLOWER.   Get a kick out of the videos?  Subscribe!   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 and THANK YOU FOR READING! Crip