Montrose Colorado A View of the Mountains

Montrose Colorado Foreclosure List for Jan 25 2012

If you have an interest in looking at Foreclosed homes for sale or you would like to receive an e-mail everytime a foreclosure is listed for sale contact me with you name and e-mail address and I will make sure you are kept up to date on the foreclosure market as it happens.

The list below is all the bank owned homes that are currently available today. This list is constantly changing. These homes are listed with many different agents and companies around town. If you would like to see any house listed for sale contact me today. Alan Brown  970-209-8436   AlanBrownRealtor@gmail.com

18           N 9th              $39,000                                                   14598           6355Rd           $40,800

521        N  4th              $64,400                                                  17800           6780 Rd           $64,900

401       San Juan         $64,900                                                  67610           Sunshine         $72,900

102       Brown              $82,900                                                  107               Vista View       $84,900

1306     Bighorn           $86,800                                                  1305             Pitchfork         $89,000

64225  S.Ramona      $96,800                                                   813               Barnwood        $112,100

1964    Natalia            $112,900                                                 63873          Nancy               $114,900

1270    Wagon            $115,000                                                1629             Dover               $117,300

441      Silver               $125,000                                                1672             Rhine                $128,000

1808   Drafthorse     $128,000                                                2839            Stoney Creek   $129,900

9017   Harvard           $129,900                                                2729            Country Club    $129,900

2545  Storm King      $134,900                                                2210            Devon               $140,000

11311  6450 Rd         $142,900                                                2497            Sunnyside         $146,900

130    N 8th                 $153,500                                                9570            Indian                $167,900

12773  6600 Rd         $168,300                                                3911            Lone Tree          $169,900

62667   Jig                 $198,900                                                 13368         Marine Rd          $209,900

319   E Main St          $214,900                                                 21835         Govt Spgs          $249,900

23414 Uncompahgre $264,900                                              61393         Niagara              $279,900

13895  Larkspur       $298,900                                                 12570        6450 Rd              $329,900

2218  Fellows            $385,000                                                 67660        Ogden Rd           $570,000

60169  La Salle         $749,900

Montrose Colorado Real Estate Market Report for Week 3 of 2012  Jan 16th - Jan 22 2012

Just 4 closings this past week this is left over from a slow month in December.  This week 15 properties went under contract which is a good week for January. So far this year in the first 3 weeks 37 resdential properties have gone under contract. The market is busy for the time of year.

If you have any questions or you are looking to buy or sell in the Montrose Area Contact me. Alan Brown 970-209-8436 AlanBrownRealtor@gmail.com

SOLD

831           Chipeta             $27,500                     A foreclosed Manufactured home 1400 sq ft

539           S Park               $32,500                     A foreclosed 1733 sq ft hm in good condition, STEAL OF THE YR

832          N Uncompahgre $40,000                 A foreclosed hm  1024 sq ft 3 bd 1 ba

436          N Cascade         $46,250                    A foreclosed 950 sq ft hm 2 bd 1 ba

UNDER CONTRACT..  Theprices on this list are the list prices and do not reflect the price at which the property may be under contract for.

512        N 7th                  $28,900                       A foreclosed 908 sq ft 3 bd 2 ba hm

tbd        Cirque Way       $30,000                       A lot in town

1001     S 5th                   $39,900                       A foreclosed hm 1402 sq ft in need of work.

16244   Chipeta              $64,900                       A foreclosed hm 1116 sq ft 2 bd 1 ba

tbd       Fellows Way      $86,000                       A lot in th Bridges by the 15th green.

2470    Helen Way         $99,900                       A foreclosed hm 1302 sq ft 3 bd

8310    6400 Rd              $100,238                     A foreclosed manufactured hm on 3 acres 1815 sq ft

1395    Corral Dr            $135,000                     Very nice Manufactured hm 2074 sq ft 3 bd 2 ba

2349    Mead Ln              $174,900                     A foreclosed hm good condition 3 Car, 1629 Sq ft 3bd

2135    Bradford            $175,900                     Remodelled bi level 2224 sq ft 4 bd 3 ba

559      Opal Dr               $209,900                     Brand New Spec hm 1620 sq ft 3bd 2 ba

3008    Ivy Dr                $249,000                     Brand New Spec hm brick, 3 car 1800 sq ft nice.

67574  Trout                  $284,900                     A foreclosed Log hm on the river, 3 acres

1716   Capital Ct           $299,900                     A foreclosed hm 2850 sq ft 3 bd 2.5 ba great condition

2701   Sleeping Bear   $385,000                     A foreclosed hm in the Bridges 2795 sq ft 16th tee box nice hm

Montrose Colorado. Condo For Sale, Owner Will Finance.

If you would like to see this condo or you would like further information contact me Alan Brown 970-209-8436 or AlanBrownRealtor@gmail.com .     If you are looking to buy or sell any other type of Real Estate in the area also I would love to hear from you.

Ground floor unit. Located on a cul de sac this 825 sq ft condo is in good condition, built in 1983. It is close to some restaurants and schools. It is also just a few minutes walk to the Bus Stop.

2 bedrooms 1 bath. The monthly HOA dues are $100. This covers Water Sewer and Trash from the City. Insurance on the Building, Maintenance for the landscaping around the building. There are a total of 8 condos in the building.

Each unit has a covered parking space in the back plus a small storage unit, this particulaer umit has 2 storage units.

The owner would consider financing the sale. The terms being offered are $10,000 down, 4% interest amortized over 15 years witha balloon payment in 5 years. Based on those terms your monthly Principal and Interest Payment would be $517 a month. Asking Price $79,900

Montrose Colorado   Real Estate Activity for week 2 of 2012 .

Here are the lists of properties that SOLD and went under contract in the last 7 days .

SOLD

1202          Harvest Ln      $42,000                 A foreclosed manufactured home 1428 sq ft needed work

925            S 1st                  $58,400                 644 sq ft hm 1 bd 1 ba good condition

14516       6360 Rd            $59,000                 A foreclosed manufactured hm 1040 sq ft

119           6675 Rd             $119,000              A foreclosed hm 1415 sq ft 3 bd 2.5 ba

23786      V 66 Trail           $121,000               39 acres scrub oak and pinions

1401         S Mesa               $170,000              Very nice ranch hm with basement 2160 sq ft

67903      Tulare Rd           $234,500              1660 sq ft 3 bd 2ba on 1 acre

64876      Kourtney Ln      $239,000              A foreclosed hm on 4 acre 2066 sq ft

3371        Mahogany          $385,000              2800 sq ft hm in the Brown Ranch

UNDER CONTRACT.. The prices here are the asking prices and do not reflect the price at which the property may be under contract for.

148          S 4th                  $48,000                 A foreclosed 800 sq ft hm 2 bd 1 ba

630         N 2nd                  $55,000                 A foreclosed hm 680 sq ft 2 bd 1ba

tbd         Tiyoweh             $84,900                  40 acres up Govt Springs Rd scrub

1025      S 11th                 $85,000                 Short Sale ranch with bsm 2200 sq ft

tbd Fellows Way             $109,500               A lot in the Bridges across from the 13th green

59925   Joe Pye              $126,500               A foreclosed hm 1963 sq ft 2.3 acres

2750 Country Club         $136,900               A foreclosed hm 1750 sq ft 3bd 2 ba

2497  Sunnyside            $146,900               A foreclosed hm 1704 sq ft backs up to 13th green at Black Canyon

2515  Cirque Way         $155,000                Santa Fe style 1700 sq ft hm

67585  Liberty Rd         $166,900                A foreclosed 3345 sq ft hm ranch with walk out bsm

15381  6100 Rd             $289,900               A foreclosed older hm on 10 acres Spg Creek

1100 Fruit Park             $299,000               2538 sq ft hm on 4.6 acres 48 x 38 detached shop

If you have any questions, or you are looking sell or buy in the Montrose are contact me.

Montrose Colorado Real Estate Numbers for all of 2011.

On this page you will see the Number of sales for the last 6 years 2006 thru the end of 2011 for Residential Homes, Vacant Land and Commercial.

In the top right corner of page 1 you will see that the number of homes sold in the Montrose Area in 2011 increased to 428 homes sold, that's up over 2009 and 2010 ...You will also notice that the number of Bank Owned homes that sold also increased almost two fold over 2010. 

There is some good news on the foreclosure front. In 2011  284 homes received a notice of foreclosure that compares to 385 in 2010 so a decrease of 100 homes. With that and more homes selling a glimmer of light that we are maybe about to turn the corner here in Montrose, or at least the market is going to level out.

The number of land sales continues to fall even though it is only by a few. If you have any questions contact me either by phone 970-20908436 or e-mail me at AlanBrownRealtor@gmail.com

Below is the list of Sold and Under Contract Properties for the first week of 2012 in the Montrose Area.

The information provided in this article comes from the Montrose Area Realtors Information Network.

SOLD

511         S 7th               $22,000                            A foreclosed home in bad shape 1440 sq ft 2 bd 1 ba

1861      Ouray Dr        $88,000                            Short Sale  1062 sq ft hm 3 bd 1 ba

1317      S Mesa            $119,000                          Ranch hm with basement 1824 sq ft 4 bd 2 ba

3801      Lone Tree       $157,250                         A foreclosed hm in Cobble Creek 1701 sq ft

2805     Bluebell Ct      $270,000                         1850 sq ft hm on 1/2 acre 3 bd 2ba

904       S 4th                 $350,000                         Medical building  2600 sq ft

67231   Ogden Rd        $352,500                         2802 sq ft hm on 3 acres detached shop plus views.

UNDER CONTRACT...The price you see here is the list price and does not reflect the price at which the property maybe under contract for.

505      N 5th                  $89,900                          A foreclosed hm 972 sq ft 3 bd 1 ba

1386   Pitchfork           $111,900                        A foreclosed manufactured hm 4 bd 3ba

21681  Govt Spgs         $114,950                        Short Sale older hm 1725 sq ft on 3 acres

Tbd Miami Rd                $174,888                        7.2 acre land next to the Black Canyon Golf Course.

1344  Manchester        $195,000                        Ranch with full Basement 2850 sq ft

67029 Sunnyside         $199,000                         A foreclosed hm on 21 acres in the City, house trashed

57865  Jig Rd                $199,900                        A foreclosed hm 1534 sq ft on 10 acres.

2757   Harp                    $262,000                        3390 sq ft hm 4 bd 3 ba

15318  6100 Rd            $289,900                        A foreclosed older home on 10 acres Spg Ck

214  Harmony               $316,500                        2533 sq ft hm on 40 acres of pinion trees.

14114 Matterhorn       $389,500                        2389 sq ft on 1 acre with 5 car garage.

15227 6260 Rd             $599,990                        4882 sq ft hm just a couple of years old on 1.5 acres.

Do you really want to do a short sale?

What is a short sale?  It's where you are trying to sell your home for less than the mortgage owed on the home.

Do I need to behind in my payments to do a short sale? The simple answer is NO.

How does having more than one mortgage on the home affect a short sale?  It depends, if you have 2 loans with the same mortgage company it really doesn't affect it. If you have loans with 2 different mortage companies this is where it can become complicated. The 2nd lien holder has to agree to either not receive any proceeds from a short sale or very little. Many times the 1st and 2nd lien holders can't agree and the home goes to foreclosure.

How do I start the process of doing a Short Sale?  You really should call a Realtor. Many Realtors these days have done a short sale and some have done many. First you should list the property and a fair market value based on what other similar homes in you area are selling for. Then as a seller you are going to have to gather a lot of paperwork that your realtor is going to have to send in to your lender to start the process.

As a seller your lender is going to want to see tax returns, income and expense reports, recent bank statements, pay stubs, a hardship lettter stating why you either can't make the payments or you can't sell the property for more than the amount owed. These are some of the main items you rlender is going to want from you, there could be other documentation that the want. Basically you are re-qualifiying all over again just like you did when you bought the house. If you have any cash assets your lender may try and claim those from you or at the very least deny your short sale.

Once your lender has all the paper work they need from you it can take up to 60 days in my experience for them to make a decision which although 30 days or less is becoming more of the norm these days, it really depends on the mortgage company.

       Should I let it go to foreclosure rather than short sale my home? Maybe or maybe not. Generally if you sell your home on a short sale you can buy another home after 24 months, if you let it go to forclosure you are looking at 4 to 7 years before you can buy another home. Although these are not set in stone and depends on your circumstances of why you did what you did.

    How will it affect my Credit Score? In the short term about the same Short Sale v Foreclosure.  if you are 30 days late on a payment  40 -100 points   90 days late 75 - 135 points. Foreclosure/short sale/deed in lieu  85-160 points. Bankruptcy 130-240 points.

What else should I watch for in a Short Sale? Short Sales do not necessarily release you from your obligation to pay back your mortgage company the amount you still owe them unless you specifically have an agreement with them. This is called a deficiency judgement, by the way this could also apply with a foreclosure. At this time it is not that common for a mortgage compnay to file a deficiency judgement against you, but don't bet on it not happening, definitely address this when doing a short sale.

There are companies out there that charge fees to handle a short sale for you. Personally I would steer clear of using any of them. You can easily have a Realtor do this for you with no up front fees, and if the home sells they will make a commission.

If you have any questions or you have a home in the Montrose Area that you need to sell and you are going to be in a Short Sale situation contact me  Alan Brown  970-209-8436  or e-mail me AlanBrownRealtor@gmail.com

Montrose Colorado... Real Estate Market Report Dec 25th  - Dec 31st  2011

This is the Real Estate Activity list for the last week of the year 2011 for the Montrose area.  The year ended with 11 properties SOLD and 9 more that went under contract. There are currently a total of  36 homes Under Contract in the Montrose area .

Next week I will be posting all the Stats for the entire year 2011.

This information comes from the Montrose Area Realtors Information Network

If you have any questions at any time contact me 970-209-8436 or alanbrownrealtor@gmail.com

SOLD PROPERTIES

tbd           Redcliff            $20,000                            A lot in the Bridges Golf Community

14581      6355 Rd           $26,500                            A foreclosed single wide on a lot in poor condition

1101        S 5th #5           $44,000                            A foreclosed condo 1218 sq ft 3 bd 2ba

1322        Bighorn            $125,000                          Townhome 1065 sq ft 2 bd  2ba

9150        6115 Rd           $130,000                          1650 sq ft Manufactured home on 3 acres

125          Spruce              $133,350                          Ranch home with Basement 1872 sq ft good condition

753         White Tail         $145,000                          1769 sq ft  home 3 bd 2 ba

2364       Fox Park          $163,000                          A foreclosed home 2044 sq ft 4 bd 3 ba

24           Elm                     $225,000                          2783 sq ft 1960's built in greta condition 4 bd 3 ba

2006      Otter Pond       $258,500                          A foreclosed hm 2470 sq ft 4 bd 3 ba

3216      Monte Vista      $280,000                         2084 sq ft hm on a 1/2 acre lot 3 bd 3ba

UNDER CONTRACT.... The prices you see here are the list prices and do not reflect the price at which the property maybe under contract for.

68580    Overland          $79,900                            A foreclosed hm on 1 acre 1551 sq ft needs lots of work

18000    Rattler              $84,449                            A foreclosed manufactured hm on 40 acres

2113      Leah                   $102,000                         A foreclosed hm 1487 sq ft 3 bd  2ba

1317     S Mesa                $119,000                         Ranch hm with basement 1824 sq ft

60075   Oak Grove Rd   $120,000                         4 acre lot with all utilites including septic

1816     Freedom            $164,900                         1578 sq ft home 3 bd 2 ba

67877   Tailspin               $234,900                         A foreclosed hm 2124 sq ft on 1 acre

904        S 4th                  $425,000                          Medical building 2600 sq ft.

60870   Kansas Rd         $649,900                         4802 sq ft hm on 10 acres plus a guest house.

Montrose Colorado Year End Foreclosure List 2011

Here is a list of homes currently for sale in the Montrose area that are bank owned and ready for new owners.

Some good news on the foreclosure front for Montrose, there were 100 less homes that received notices of foreclosure in 2011 than 2010. The number is still high at 285 notices this year but its a lot better than the 385 of last year. Hopefully this trend continues into 2012.

If the number of homes being foreclosed on can drop another 100  in 2012 it will go along way to turning the market around.

This is the list of homes under $200,000  if you would like foreclosures over $200,000 let me know I will e-mail you that list.

512          N7th          $29,900                                     1001         S5th        $44,900

62350     David Rd  $49,000                                      630          N 2nd       $55,000

401         S San Juan $64,900                                    523          S Park     $69,900

521        N 4TH          $71,400                                     17800      6780 Rd  $74,400

16244    Chipeta      $74,900                                    68580      Overland $79,900

67610   Sunshine Rd $79,900                                 102           Brown      $82,900

18000   Rattler        $84,500                                    107           Vista View $84,900

505       N 5th            $89,900                                    539           S Park     $94,900

1270     Wagon        $97,750                                    1306        Bighorn    $98,600

64225  S Ramona   $110,000                                 813           Barnwood $112,100

1964    Natalia         $112,900                                 63873      Nancy       $114,900

441      Silver           $125,000                                 59925      Joe Pye    $128,850

2839   Stoney Ck    $129,900                                9017        Harvard     $129,900

1808   Drafthorse  $134,900                                2545        Storm King $139,900

2729  Country Club $139,900                               5118        5600 Rd     $149,900

130    N 8th              $159,900                                2497        Sunnyside  $159,900

67585  Liberty Rd  $166,950                                9570       Indian         $178,500

3911   Lone Tree    $179,900                                67029     Sunnyside   $199,000

57865  Jig Rd          $199,900

If you would lik emore information on any of these homes or you would like to see the inside of any of them, contact me either by phone 970-209-8436   or e-mail  AlanBrownRealtor@gmail.com

If you would like to recieve by e-mail any new foreclosed homes that come up for sale automatically within 5 minutes of them being posted on the MLS, send me your name and e-mail address and I will add your information to the foreclosure hotline.

Print this list out and take it with you on a drive around town.

What's a HUD Home? and How to Buy One

I am sure you have heard the term HUD Home, you may be wondering exactly what that is? Most of you know that it is some type of home owned by the government but you are not quite sure exactly what.

What does HUD stand for. The Departmant of Housing and Urban Development.

Well a HUD Home is a a home that previously had an FHA loan on it that has now been foreclosed on and is now listed for sale on HUD's web site. These homes are listed with local Real Estate agents and the only way you can buy one is to use a registered hud Real Estate agent.

If you didn't want to contact a Real Estate agent right way and ask what HUD homes are available you will find a list of the ones for sale by going to HUDhomestore.com and searching by State then County.

Once there you will see the homes that are currently for sale, if you do not see a house here that you thought was for sale by HUD because you drove by it and saw a sign, it usually means that the home is under contract. Once a HUD home is no longer available it will disappear from the web site. You will notice under the case number which bidders are allowed to bid on the property. Usually for the first 7 days the home is for sale HUD will only look at offers from buyers who are going to Owner Occupy the home. If after 7 days they have not received an acceptable offer from an owner occupant buyer they will open up the bidding to all bidders, meaning investors those buyers who would buy the home and use it as a rental.

During the initial 7 day bid period HUD will wait until the 7 days is up before reviewing and responding to any and all offers. Once it is open to all bidders HUD will review offers every 24 hours usually in the morning of the next day.

        Once you decide that you want to look at a HUD home contact a Real Estate agent to show you the home. All agents that are registered with HUD have a key to access HUD homes. You then decide you want to make an offer. Initially this must be done online by the agent. It is a very simple process. You must be pre-qualified for a mortgage in order to make an offer, or you can pay cash. In my experience of selling HUD homes and I have sold and closed on 4 this year with buyers I have worked with, is that the most important thing that HUD wants to know is what they are going to net from the transaction not so much the purchase price. I have received counters from HUD that says if you can net HUD X amount your offer will be accepted.

Some things to be aware of when buying a HUD home.  HUD does not pay for Title Insurance. If you want Title Insurance you the buyer have to pay for it. Secondly if you want to have the utilities turned on to do an inspection you have to request that in writing and you the buyer pay for it. You must also have the utilies turned off again once the inspection is complete.

Just because a HUD home had an FHA loan on it once before doesn't always mean it qualified for an FHA loan on it now.

If you would like to see or buy a HUD home in the Montrose/Delta/Ridgway Areas contact me Alan Brown 970-209-8436 or e-mail me at AlanBrownRealtor@gmail.com  As I mentioned earlier I have sold 4 HUD homes in 2011 so I am knowledgable on the process.

Montrose Colorado Real Estate Activity Last 7 Days Dec 18th - Dec 25th 2011

Wishing every one a Merry Christmas.

Here are the properties that sold and those that went under contract in the last 7 days in the Montrose area. This information comes from the Montrose area Realtors information Network.

If you have any questions or you would like information about any home you see for sale, contact me 970-209-8436 or send me an e-mail alanbrownrealtor@gmail.com

SOLD

tbd      Sims Mesa               $40,000                       44 acres close to the National Forest

tbd      Ranger Rd               $69,000                       8.8 Acres irrigated, rolling terrain south of town

511     N 2nd                        $74,900                       A foreclosed 2448 sq ft older hm 4 bd 2.5 ba

1687  Rheims Ct                $80,000                       A foreclosed patio home 1608 sq ft 3 bd 2 ba

990    Mountain View        $90,000                       A foreclosed 1238 sq ft 3 bd 2 ba hm

22      Roundhouse            $118,000                     A foreclosed hm 4 bd 2 ba 141o sq ft

1203  Stratford                 $139,090                     A foreclosed hm 2052 sq ft 4 bd 3 ba

1700  American                $148,000                     A foreclosed hm 1690 Sq ft 3 bd 2 ba

1610  Bighorn                    $157,500                     Brand New hm 1155 sq ft 3 bd 2 ba

445    Kristen Ct                $300,000                     1.85 acre commercial lot close to UPS

69392 Racine                    $300,000                     A foreclosed 2862 sq ft hm on 11 acres.

UNDER CONTRACT. The prices you see on this list are the asking prices and do not reflect the price at which the property maybe under contract for.

831    Chipeta                    $29,900                       A foreclosed manufactured hm 1400 sq ft

832    N Uncompahgre     $48,900                      A foreclosed 1024 sq ft 3 bd 1 ba hm

1101  S 5th #5                  $59,000                       A foreclosed condo  1218 sq ft

320   S 6th                         $139,000                     A foreclosed older hm that is a duplex

67498 Oak Leaf               $219,900                     A foreclosed log hm in Solar Hills 2304 sq ft

61368 G Rd                       $229,000                     A foreclosed hm by Olathe 3282 sq ft 10 acres

67574 Trout Rd                $284,900                     A foreclosed log hm on the river 1907 sq ft