Saturday, October 23, 2010

Crip's HUD Report 10-22-2010: The Final Few

Hey everyone!  Yes it's been a few weeks since I've posted a blog update, mainly because there haven't been any new HUDs in the last three or four weeks.  I'm not sure when we will see new inventory, the word on the street is sometime next week.  Which has been the word on the street for the last six weeks.

In the spirit of keeping everyone sated HUD-wise, I've compiled a short list of all of our current inventory plus one gonzo REO.  Please enjoy!  And if you've been on the fence about getting one of these, do so quickly - they are almost all gone.

ALL CURRENT ACTIVE HUDS as of 10-22-2010

35621 County Road 25, Eaton CO: $290,000.  5 bed, 3 bath, 1771 sq ft over full mostly finished, 2003, 2 car attached plus two MASSIVE pre-fab steel barns, 3.14 acres, UNINSURED, 203k eligible and YES it will go $100 down, lender dependent.  Here's a very interesting one.  First the good: The house is very large, with total sq footage over 3500 sq ft (most of it finished), 3 bedrooms and 2 baths on the main floor and a very sharp kitchen.  The full basement is almost entirely finished, with 2 more bedrooms, a large full bath, storage, some type of entertainment area that appears to be a perfect pool table area, living room and the odd nook and cranny.  There's a deck that wraps around most of the back of the house and a smaller private deck off of the master suite, both of which overlook a lovely pond.  Then there's the barns - they're HUGE.  The nicer/newer of the two (we'll call it the blue one) has a partial pad, and there's a large carpeted area in what appears to have been a livestock pen once upon a time.  There's also a couple of water pumps in the building.  The second building has a dirt floor and appears  to have just been housing for livestock.  I should point out that the county records show these building as 1392 sq ft and 2520 sq ft.  So now for the bad: The house is UNINSURED and there is substantial smoke damage throughout the main floor.  Scope the pictures.  The cause is a mystery, and the smoke has left spooky Rorschach test-like images all over the main floor.  See how many skulls YOU spot in pictures.  Oddly, there is no smoke smell whatsoever in the house, and the basement is totally unaffected.

  Pics start here:  Bids currently being reviewed daily.  This is in the Eaton school district, and sits just west of Severance.

3788 Ponderosa Ct #8, Evans: $72,000. 2 bed, 2 bath, 1056 sq ft, 2003, $100 down with NO repair escrow.  Pics start here:  This ground level condo is in need of some serious cosmetic repair, but it does have a decent layout and a bit of a deck that overlooks some green space.  Bids currently being reviewed every day.

3925 Asbury Dr, Fort Collins: $153,900. 2 bed, 1.5 bath, 1280 sq ft, 1981, 1 car attached, $100 Down with $330 repair escrow for exterior trim paint.  This attractive tri-level is located just north of Troutman Park and has what appears to be a fairly new roof, a remodeled kitchen and a large fenced backyard that backs to a big drainage field.  The main drawback is the size, and the lower level's spare room  unfortunately houses the furnace (meaning no bedroom, folks).  This forever shall be a 2 bedroom.  But at least it's a NICE 2 bedroom.

Pics start here:  Owner occupant bids due 10-26-2010, investors daily thereafter if available.

2807 15th Ave Ct, Greeley: $73,200. 2 bed, 1 bath, 1008 sq ft over full unfinished, 1971, 1 car attached. This property STILL has this week's honor of having the lousiest location.  It is right next to highway 34 - remarks HUD: "Subject backs to Highway 34 with traffic noise."  And now with the relist, HUD has added: "Water lines cut in multiple places, gas lines not connected, garage door broken,repair exposed electrical wiring in living room; Repair damaged bath wainscot; Repair deck- stain or paint."  The house is clean and smells of new paint on the main floor; kitchen appears fairly intact and the family room has a fireplace. The basement appears to have had two more bedrooms at one point and a full bathroom that has been mostly dismantled.  This could make a decent investment property for somebody as a 4 bed, 2 bath, but beware the traffic noise yo, and everything else!  Pics start here:  Bids currently being reviewed every day.

2650 23rd Ave, Greeley: $48,000. 3 bed, 1 bath, 1086 sq ft, 1 car attached, 1963, $100 down with $1210 repair escrow for all kinds of stuff. This 'cozy' blue ranch has the unfortunate distinction of being almost precisely on the corner of 23rd Ave and 27th Street.  I like it for the seriously reduced price, if not the location.  Bids currently being reviewed every day.

4121 Julesberg Dr, Loveland: $181,000. 3 bed, 1.5 bath, 1405 sq ft, 3 car attached (!), 2003, $100 Down NO Repair Escrow.  "But hold on a minute Crip, didn't we have this one last week?"  No, but you're close.  That was 4087 Julesberg, and it's a pile compared to this tidy little 2 story.  This also may be the smallest house in terms of total sq footage I've seen with a 3 car garage.  The back yard is fenced with nary a tree to be found, and there's a smallish patio.  If you liked the idea of last week's Julesberg property but hated that particular Julesberg property, check out THIS Julesberg property.  Pics start here:  Bids currently reviewed daily.

4087 Julesberg Dr, Loveland: $163,800. 3 bed, 2 bath, 1452 sq ft, 2003, 2 car attached, $100 down with $660 repair escrow for furnace repair and deck paint/stain.  Yet another tri-level, this one is located in the NW Loveland subdivision called BUCK, or Buckhorn Village, located off of far west 43rd.  This has great curb appeal, and the interior is in decent shape but of course suffers from the typical cosmetic transgressions of pink, teal, etc.  The back deck needs more than stain - it's been a chew toy for years - and I probably wouldn't have planted a plum tree right in the middle of the yard.  But the walk-out lower level leads to a large cement patio and an open portion of grass and would make an awesome family room.

Pics start here:  Owner occupant bids due 10-26-2010, investors daily thereafter if available.

2131 Gray's Peak Dr #203, Loveland: $107,100. 1 bed, 1 bath, 983 sq ft, 2005, 1 car somewhat attached, $100 down with $550 repair escrow.   Do you run a dispensary?  Do you like the idea of saying you live in High Plains Village? Or perhaps it's just you and your cat and your nice little Miata that you like to keep in the garage.  This is your place.  It's a bit of a 2-story, but alas there's nothing on the ground level other than the landing for the stairs.  You do have a small private fenced yard, and a door adjacent that leads to your garage, which I believe may be fairly unique in this subdivision near Centerra.  Upstairs you go and the unit is stunning.  There are wood floors in the kitchen/dining area, a fireplace and a patio, and although there are about six different colors in this 1 bed, 1 bath unit it's actually not too bad.  In other words - this place is basically move-in condition.  I spent quite a bit of time talking with the very nice downstairs neighbor and she requests that whoever buys this place also be very nice.  I said I would do my best, so help me out here people.

Pics start here: Owner occupant bids due 10-26-2010, investors daily thereafter if available.

Relist: 4331 Page Pl, Loveland: $107,100. 3 bed, 1.75 bath, 1452 sq ft, 1 car attached, 1956, $100 Down with $2090 repair escrow.  Some may call this Campion, and the joint across the street at 4318 Hawg Hollow Lane claims to be in Berthoud.  Either way, consider this one just south of 42nd Street in Loveland.  It is a sprawling ranch on a small half-acre (REALTOR®-speak for "it isn't quite a half acre"), with updates scattered here and there, most notably hickory cabinets in the nicely finished kitchen.  The draw here is going to be the do-whatever-you-like nature of the area and of course the massive yard, which currently houses two sheds.  Check this one out if you want to spread out a little.

Pics start here:  Bids currently being reviewed daily.

3813 Hamilton Ave, Wellington: $130,500. 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:  Bids currently being reviewed daily.

1395 Barn Owl Ct, Windsor: $585,900.  4 bed, 4 bath, 2988 finished sq ft over a 2725 mostly finished basement, attached oversized 4 car garage, 4.06 acres, 2005.  Want to live on a bit of a mansion on a hill at the end of a road?  Maybe you'd prefer it to be half price?  Look no further.  It is a fixer upper, due to some silly choices made by the previous owners, namely, tile and grout over wooden stairs at the entryway.  As you can probably imagine, the entire thing has nearly rotted away, and the ensuing holes have actually grown into the basement.  There's also mysterious damage in one of the bedrooms that appears to be also of the water damage variety.   That's really it for the major stuff, but I do have a full list of all repairs that will need to be completed by the future owners.  The house appears to have been vacant for a while, and would currently be the PERFECT location for a haunted house, what with its hill top setting, imposing turret, dead mice scattered here and there, mold, and its massive size.  The master suite is something to behold, as is the kitchen.  There's a formal dining room, and a second, more practical (and larger) dining area, the large living room and the master suite all on the (raised) main level.  This of course means the other three bedrooms are in the basement, along with a killer movie room, and a huge family room with a bar.  You may call it a walkout basement; indeed it is the only way into the house at this point.  The massive lot consists mostly of driveway and front yard as the house sits relatively close to the back of the lot.  The view from the 'turret' is amazing (you can see most of Hilltop Estates and Water Valley from inside the house) and once this thing is back in fighting shape it's going to be a smoking deal for someone. 'Twas last listed for $1.2 million (seriously), which makes the amount of work needed seem positively minor.  Check this one out if you want to live like a millionaire, but prefer getting things at half price.

Pics start here:  Contracts will need to be written on this, so please hit me up.

 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: - under contract - under contract  - SOLD  - SOLD

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