Bargains buys under $200K

Date: Mar. 26th, 2009

Bargains buys under $200K


When I was writing this article two years ago it was sometimes challenging to find a bargain buy. When a true bargain appeared it was typically gone within a few days; sometimes within hours. Only rarely would a true bargain buy remain available for a week. In the current market there are bargains in every price range. So, beginning this week I plan to feature a bargain property in a different price range each week. This week I will be looking at the price range under $200,000.

One of the current best bargains under $200,000 is a two bedroom/1 bath condominium in Silverthorne; located in the Aspen Shadows Community in the heart of Wildernest. This area has great access to great trails for hiking, snowshoeing, Nordic skiing and mountain biking. This area also receives very frequent service from the Summit Stage; providing easy access to all points in the county. The address of this property is 8021 Ryan Gulch Rd, Building C unit 8021. The unit is priced at $175,000

At 552 square feet it lives much larger. Every inch of this condo is effectively used to provide the maximum in livability. This sunny top floor, end unit has vaulted ceilings throughout creating a very spacious feeling. You enter into a mud room area with a large storage space. The kitchen is very bright with parquet wood floors, two windows, a tile back splash, stainless steel sink, a suspended pot rack and lots of cabinets. The current owner has installed a new stove and dishwasher. The windows have adorable wood shutters and one window has a view of the courtyard. There is also a tiled breakfast bar which could also be used as a kitchen desk. The living room has a gas stove with a brick surround, a fan and opens to a nice sized deck. An armoire sits on one wall; perfect for an entertainment system. The windows throughout the unit have custom roman blinds. Both bedrooms have built-in cabinets and dressers with tiled tops and mirrored closet doors. One bedroom has a loft bed with a desk underneath, which would make an excellent room for a child/teen room. The desk could be removed and another bed added to create a bunk room.

The single bathroom is a full bath with tile floors, a bath/shower tile surround, a pedestal sink and slate shelves.

This is a perfect home for a local, or as an investment property. The long term rental numbers are at $1000 to $1300 per month and would rent well as a short-term vacation condo.

The HOA dues are low at $235.00 per month and include cable, common area maintenance, common taxes, insurance, management, snow removal, trash pick up, and water/sewer.

A number of financing options are available for qualified buyers, including 100% financing, FHA and conventional loans. With interest rates in the 4-5% range, this is absolutely a property worth investigating. It doesn’t cost anything to take a look!