Fannie Mae Owned Properties in Steamboat Springs, CO

Real Estate Agent with Colorado Group Realty, LLC

If you are thinking about buying a second home and want a really good price, you might want to consider a Steamboat Springs area Fannie Mae owned properties.

Fannie Mae is the “quasi” government agency that happens to be the biggest provider of mortgage money in the US, and they are stuck holding a lot of real estate inventory—some of which is in the Steamboat area.

In order to get rid of some of the real estate inventory on their books, they are offering special financing plans for just about anyone—owner occupants, second home owners, and investors.

I’ve been in many of these properties, and they’re a bit rough.  I have yet to walk through one that is move-in ready.  But if you want to finance cheap and put in a bit of sweat equity, these could be a good investment.

Fannie Mae is offering 3% down for buyers who will use the home as their primary residence, 10% down for second home buyers, and 15% down for investors.  You’ll need at least a 660 credit score.

There is no appraisal requirement, no mortgage insurance, no declining market restriction, and owner occupants can roll the fix up costs into the mortgage—all of which are huge.

Here is a list of the current Fannie Mae inventory in Routt County, Colorado:

ADDRESS Develop Owner Tot Sq Ft DOM LP $/Tot Sq Ft
1375 Sparta Plaza Walton Village Condo Fannie Mae 565 6 $134,900 $238.76
23042 Schussmark Trail Stagecoach Townhomes Fannie Mae 1416 50 $144,900 $102.33
1260 Barclay Street Craig, CO Fannie Mae 2366 23 $179,900 $76.04
71 CR 20 Craig, CO Fannie Mae 3456 6 $190,000 $54.98
218 E Highland Oak Creek Fannie Mae 2384 6 $237,900 $99.79
367 Vista Verde Dr. Vista Verde, Hayden CO Fannie Mae 1803 30 $239,900 $133.06
147 Oak Ridge Circle Sierra View Subdivision,

Oak Creek

Fannie Mae 1725 6 $255,900 $148.35
1945 Cornice Rockies Condo Fannie Mae 1016 6 $265,900 $261.71
27386 Brandon Cir. Heritage Park Fannie Mae 1302 29 $299,900 $230.34
2583 Apres Ski Way, Building 4 Herbage Thm Condo Fannie Mae 1433 84 $314,500 $219.47
473 Mountain Vista Cir Mountain Vista Townhome Fannie Mae 1384 6 $325,500 $235.19
23460 Willow Island Trail Meadow Green @ Stagecoach Fannie Mae 1708 98 $344,900 $201.93
Total Listings

Avg Avg Avg

29 $244,508 $166

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Eliese Pivarnik

GRI, RSPS, ABR Broker, Colorado Group Realty
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