How to find a Free list of Foreclosure Homes in and around Montrose Colorado
There are hundreds of web sites out there that try to "sell" you a list of foreclosure homes, bank owned properties, REOs and pre-foreclosure home leads.
Some of these sites actually do a good job of condensing data and making the process simple, yet many if not most, regurgitate data recorded at the court house without cross referencing or checkin the status in other locations, like the local MLS.
This is where a Realtor can come in very handy, especially a Realtor that knows the Foreclosure process and how to find and negotiate the purchase of homes that are in the process of being Foreclosed and those that have been through the Foreclosure process and are now Bank Owned or REOs.
Most people looking for "foreclosure homes" are investors or people that want to be investors, but more and more there are people just looking for a "screaming deal" on a home for themselves.
The foreclosed homes range in value and our service area is very diverse. The cheapest foreclosed home listing the Montrose Gold Team currently has listed is $155,000 and the highest is probably going to be priced about $1,000,000 to $1,250,000.
The best generic advice for a Free Foreclosure List
Access the county web site (where you are searching) by googling the "county name" and selecting the "real" government provided county website. Then look for a page or tab for the trustee or possibly assessor or if they have a search function to search the site type in "Foreclosure List". In general Government Websites are wonderful for providing tons of "FREE" information (we actually all paid for it, so use it)... You should always migrate to them in research.
In Montrose Colorado you can access the Free Foreclosure List at:
http://www.montrosecounty.net/treasurer/foreclosures/
Then if you have Microsoft Word you can click on the "Active" link and it will open on the same page in Word. Otherwise you can right click and select Save Target As and save the ".doc" file and then you can open it with SWriter - OpenOffice.org's free word processing application.
Other sites you may need are the Assessor's site at:
http://eagleweb.montrosecounty.net/eagleassessor/web/splash.jsp
and the Online Recorded Records Searching Site at:
http://oncore.montrosecounty.net/Search.aspx
Unfortunately Montrose County Charges for access to the viewable "online records" but you can view the "header" information for free and search to see if documents exist in a party's name...
All of the Homes and Properties below have been through Foreclosure. They are now considered bank owned or in one case FDIC owned because this property brought the small bank down!
This home below is in the Hastings Mesa Area off of Elam Ranch Rd is a bank owned property and went through a foreclosure.
It is about 40 minutes from Montrose and about 20 minutes to Telluride... It is all solar and wind powered for electricity and is heated with propane.
Access is limited during the winter and requires snow mobile or snow shoe access. However if plowed daily, it could probably be kept open year round. This home was purchased for $1.8 Million and had $1.5 Million in Debt on it. It had been on the market for 6 months at a price of $1.5 Million and didn't sell. So it will probably be priced around $1.25 Million.
We have small neighborhood homes like this:
We have a local Golf Course Community where the whole community with the club house and undeveloped lots for sale was Foreclosed! We have many homes in this community that have been foreclosed or are in the processes of being foreclosed.
This home below is on Painted Wall in the Bridges Golf Course Community and is listed at $375,000. It is under contract and set to close at the end of September.
Below is a picture of the club house at The Bridges Golf Course Community.
It is owned by the FDIC. They are accepting any bids over $7,000,000 starting tonight 9/18/09... Original defaulted debt was approximately $24 Million.
There are all types of Foreclosed Properties and Homes...
The Foreclosure process is the same for commercial and residential property but slightly different (longer for farm ground).
After the bank gets tired of not being paid, usually about 3 months of non-payment, then they will file a Notice of Election and Demand (NED) which starts the foreclosure process and requires the Public Trustee for the County to set the Sale Date 110-125 days after the filing of the NED.
The Owner must file a notice to Cure at least 10 days prior to the Sale Date if they intend to Cure, so if you have an owner whos home has started into the foreclosure process, it is a good idea to get this Notice from the County and file it immediately to leave their options open.
The Foreclosure List is just the beginning, then the research and the phone calls and visits begin. A Realtor can be very helpful here unless you have done several of these and know all the ropes.
If a home is "pre-foreclosure" you may be able to wrap the note, or save the home owner if they aren't too far underwater. You basically have a "motivated seller".
If a home is "in foreclosure" then you will likely want to try to get the Bank to do a Short Sale. If the homeowner has a lot of equity again you might be able to wrap their note, cure it and assume ownership of the home.
If a home is "going to foreclosure sale" - you can show up at the courthouse at 9:00 on Wednesday (in Montrose Colorado), bring your cash and make a bid and purchase the home there.
If a home has "gone through foreclosure" - it is now considered "bank owned" and is often referred to as an REO which stands for Real Estate Owned (by the bank).
Hope this helps!
If you have any specific questions about how to find foreclosed homes that are bank owned, homes in the foreclosure process or homes that are about to go into foreclosure, please call or leave a comment and I will try to answer your questions.
So hopefully you know someone with about 8-10 Million and you will have them call me to buy this foreclosed Golf Course Community full of homes that have been foreclosed or are in the foreclosure process as we speak. Realize there are many viable "real" families living here as well, paying dues and golfing.
Chris Ormsbee is a Realtor and is a licensed Real Estate Agent in the State of Colorado. He is part of the Montrose Gold Team and works for Century 21 Action Realty in Montrose Colorado. Century 21 Action Realty is located at 1245 E Main St. Montrose, CO 81401 and our phone number is (970) 209-0252. Chris Ormsbee is NOT a Lawyer, Accountant, CPA, Surveyor, Structural Engineer, Financial Advisor, Judge, Jury or a Normal Guy, but he does occassionally sleep at a Holiday Inn Express.
Besides Commenting here, you can Contact Chris Ormsbee (especially if you want to buy or sell real estate):
Chris' Cell Phone is (970) 209-0252
Chris can be friend-ed on Facebook. His user name is Chris Ormsbee
Chris also has other blogs pertaining to Real Estate:
http://www.YourCOREAdvisor.com/blog
http://www.MontroseGoldTeamBlog.com
Chris is also "diverse" and has
http://www.TheDivorceWorkshop.com - a divorce counseling and advice site.
http://IdeasThoughtsWhatevers.blogspot.com/ - a discussion about Internet Marketing Ideas and trial "sales pitches", wild wacky ideas and politics abound and some content may be oriented to adults - surfers beware!
970-209-8436 
Looking For Othe Golf Course Homes For Sale Search here 
