Here is the last 7 Days of Real Estate Activity for the Montrose Area. Feb 5th thru Feb 12th 2012 This information comes from the Montrose area Realtors Information Network.
If you have any questions at any time Be sure to contact me Alan Brown 970-209-8436 AlanBrownRealtor@gmail.com
SOLD
512 N 7th $27,500 A foreclosed hm 908 sq ft 3 bd 2 ba
tbd Cirque Way $27,500 Residential building lot in town
401 S San Juan $56,900 A foreclosed hm 1116 sq ft 3 bd 2 ba older hm
1386 Pitchfork $95,000 A foreclosed manufactured hm 2090 sq ft 4 bd 3 ba
62787 Hwy 90 $120,000 10 irrigated acres on Sp Creek
59925 Joe Pye Dr $126,000 A foreclosed hm 1963 sq ft on 2.3 acres
UNDER CONTRACT The prices here are the asking prices and do not reflect what the property maybe under contract for.
tbd Virginia ln $11,900 Residential building lot in town
14598 6355 Rd $34,900 A foreclosed single mobile on a lot 832 sq ft
18 N 9th $37,050 A foreclosed old hm 1459 sq ft needs work
tbd 6300 Rd $50,000 1.5 acre lot zoned B3
820 S 10th $98,000 A foreclosed hm 1682 sq ft 3 bd 2 ba
219 Indiangrassloop $124,500 Nice 1400 sq ft hm just a couple of years old
2729 Country Club $129,900 A foreclosed hm 1304 sq ft in good condition
2681 Maya $144,900 Short Sale in good condition 1472 sq ft
12059 6300 Rd $150,000 A foreclosed commercial condo unit 5300 sq ft
555 Spring Ck $150,000 Commercial brick building was A1 Liqour store 1800 sq ft
12773 6600Rd $168,300 A foreclosed 2608 sq ft on 1 acre nice condition 1 acre
3911 Lone Tree $169,900 A foreclosed hm 1910 sq ft in Cobble Creek
63749 Spring Ck $249,900 2000 sq ft older hm on 20 acres
14335 5950 Rd $339,900 Nice 3152 sq ft hm on Sp Ck 3 acres
68884 Vicuna $369,900 3524 sq ft hm on 10 acres 4 car garage good condition
1571 Ogden Rd $599,00 A foreclosed commercial building formerly Smugglers
How to buy a home with a Renovation Loan. Montrose Colorado
We have all seen the ad in the newspaper or the Real Estate magazine "Needs TLC" "Lots of Potential" that's the nice way of saying this place is a "fixer upper"
How are you going to fix it up ? when you don't have $10,000 or $20,000 or more in cash to fix the house up after you buy it. The simple answer is to borrow it from the mortgage company.
FHA has a loan program called 203 K which is exactly that. In simple terms this is how it works. You find a house to buy that you can buy for $40,000 you estimate the renovations that you will have to do the home is around $30,000. For a total of $70,000. The home will have to appraise for at least $70,000 based on all the improvements being done. You have to put down 3.5% for an FHA loan so it would be 3.5% of the $70,000.
It doesn't matter the amount of renovations that need to be done, you can even add sq ft or add a garage the key is the home must appraise for the total amount. FHA 203 k loans are only available to Owner Occupant buyers it does not apply to Investors. There is a conventional loan program for renovations for investors, multi family.
You cannot do the work yourself, the work has to be done by approved contractors. You have to obtain detailed written bid for all the renovations before you close and all bids are submitted to the lender for approval. The work is done after you close and has to be completed within 4 months for a streamline 203 k loan which are improvements under $35,000. For improvements over $35,000 the time frame is 6 months. FHA will do multi family renovation loans as long a s the borrower lives in one of the units.
Construction draws are handled by the lender once the work commences not by you the borrower.
Not all lenders are created equal when it comes to orginating renovation loans, many lenders can only do the FHA 203k streamline loan under $35,000. The lender in the Montrose Area that specializes in Renovaton loans FHA, Conventional and is Tracy Frank at Wells Fargo Mortgage 970-240-1006
Wells Fargo also do Renovation loans on Manufactured homes which no other lender does.
If you are looking to buy a home and you want to fix it up contact me Alan Brown 970-209-8436 or AlanBrownRealtor.com I can help you find the home and assist you in the loan process.
Here is the last 7 Days Real Estate Activity in the Montorse Area. This is week 5 of the year. This information comes from the Montrose Area Realtors Information Network.
SOLD
tbd 72.50 Rd $30,000 a 3 acre lot, juniper and pinion trees south of town, 2 lots sold 30k each
1001 S 5th St $45,000 A foreclosed hm lots of work needed 1402 sq ft 3 Bd 1.5 Ba
tbd Fellows Dr $90,000 Very nice lot in the Bridges across from the 13th green
1816 Freedom $142,000 1578 sq ft hm 3 bd 2 ba
67029 Sunnyside $150,000 A foreclosed hm 1000 sq ft on 20 acres.
67585 Liberty Rd $164,900 A foreclosed 3345 sq ft hm 4 bd includes basement
67877 Tailspin $217,000 A foreclosed hm 2124 sq ft 3 bd 2 ba
67574 Trout Rd $284,900 A foreclosed log hm on the river, 1900 sq ft 4 car garage
14114 Matterhorn $388,500 2389 sq ft hm on 1 acre 5 car garage.
UNDER CONTRACT. The prices you see in this list are the asking price and do not reflect the price at which the property may be under contract for.
3600 Chestnut $39,000 A lot in the Brown Ranch sub
tbd Bellhaven $45,000 A residential lot in the city
63900 Jacaranda $62,000 A manufactured hm 1603 sq ft on 3 acres
18000 Rattler $84,500 A manufactured hm on 40 acres 2016 sq ft
1306 Bighorn $86,800 A foreclosed townhome 1065 sq ft
1964 Natalia $94,900 A foreclosed hm 1608 sq ft needs some work
64225 S Ramona $96,800 A foreclosed 1842 sq ft hm 2 bd 2 ba
14 Brown $99,950 972 sq ft hm 2 bd 1 ba
tbd Merchant Dr $108,000 A commercial lot by the Ford dealership.
813 Barnwood $112,100 A foreclosed hm 1141 sq ft 3 bd 2 ba
1629 Dover $117,300 A foreclosed hm bi level 2204 sq ft 4 bd 3 ba
6 Columbia $121,990 1434 sq ft older hm 3 bd 2.5 ba
441 Silver $125,000 A foreclosed manufactured hm 2248 sq ft
1560 American $199,900 1542 sq ft hm 3 bd 2 ba
Montrose Colorado . Real Estate Market Report Jan 23rd - Jan 29th 2012
Week 4 of 2012.. Here is the list of properties that SOLD and went under contract this past week in the Montrose Area. This information comes from the Montrose Area Realtors Information Network. If you have any questions at any time about Montrose Real Estate be sure to contact me either by phone 970-209-8436 or e- mail me AlanBrownRealtor@gmail.com
SOLD
523 S Park $32,500 A foreclosed 1064 sq ft hm 3 bd 2 ba
tbd Fellows Way $50,000 Lot in the Bridges by the 15th green.
tbd Tiyoweh Trail $58,000 40 acres of Sagebrush
44 N Junction $78,000 1900 sq ft older home in good condition
60075 Oak Grove $95,000 4.2 acre building lot on Spring Creek
1234 S 4th $97,000 A foreclosed hm 1609 sq ft 3 bd 2 ba
67498 Oak Leaf $219,900 A foreclosed log hm 2304 sq ft New Carpet tile paint views
UNDER CONTRACT. The prices you see here are the asking prices and do not reflect the price that the property maybe under contract for.
401 S San Juan $64,900 A foreclosed hm 1116 sq ft 3 bd 2 ba
1761 Kellie Dr $116,000 Nice Manufactured hm 1742 sq ft includes the lot
2524 Glen View $149,900 1442 sq ft home 3 bd 2 ba
2500 Stonebridge $250,000 2342 sq ft home by the 4th tee box of the Bridges.
1004 Laurel $259,900 Very nice brick hm 1946 sq ft 1/2 acre lot
23414 Uncompahgre $264,900 A foreclosed hm 2600 sq ft on 3 acres good condition
13820 Larkspur $329,900 A foreclosed hm 2318 sq ft on 1 acre lot
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
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