The foreclosure list not only remains a valuable source for homes that are headed towards foreclosure but also allows brokers and buyers to look closer at the properties on the market. The goal: search for homes that have value.
Here is the foreclosure list, see #2010-37 with debt of $2,162,000, which about half way down the second page.
229 N. Spruce, Telluride, Colorado. 1.5 blocks to Main Street
This home is a downtown compound with two homes on a 5,875 sqft lot. The front Victoria home has 4 bedrooms and 3 baths,which was remodeled in 1994. The back alley house has 3 bedrooms and 3 baths. The home is 1.5 blocks from main street and has nice views of the mountains from the backyard. The price per square foot for the two homes is at $587. These costs are below acquisition and build costs.
The second home of interest is #2010-20, which is a condo with 238k debt. The condo is 1 mile out of town and will be listed shortly for appx 250k. I actually just sold the least expensive condo at 244k with an assumption of a 7k special assessment. This new unit for sale soon does present value.
Here is the foreclosure list: Foreclosure Schedule as of 6-29-2010
