Thursday, February 3, 2005
The first house built by Routt County Habitat for Humanity has been sold back to the organization.
The 1,110-square-foot home at 1560 Conestoga Circle, owned by Neil and Beverly Marchman and their children, was completed in October 2001.
On Monday, the Marchmans sold the home back to Habitat for $138,336.82, said Jim Ballard, treasurer of Routt County Habitat for Humanity. The Marchmans were forced to sell the home for personal reasons, he said.
The Marchmans could not be reached for comment Thursday.
Habitat has offered the Marchman home to a family of seven in line for one of the units in the next duplex the organization plans to build, Ballard said. Construction on that duplex, Habitat's fourth and fifth units in Steamboat Springs, has not begun.
If the family decides to buy the Marchman home, its members still would have to put in the minimum 350 hours of sweat equity required of all Habitat homeowners. But they could move into the home in the next month, when repairs to paint and carpet are completed, he said.
When a family purchases a Habitat home, the deed states that the family must offer the home back to Habitat for a controlled price before selling it in the market. If Habitat chooses not to purchase the home, and the home is sold in the market, the difference between the higher sale price and the controlled price goes back to Habitat.
The Marchmans' home was assessed for $262,000, Ballard said.
The roughly $138,000 Habitat paid goes toward the $117,000 the Marchmans owed on their no-interest loan. About $10,000 is being held back to pay for needed repairs, taxes and the balance of a $7,000 loan the Marchmans took out for a down payment, Ballard said. The remainder will be returned to the Marchmans to cover some of the mortgage payments they made plus 3 percent interest.
The house has been offered to Blaine Watson and Laurel West, who have five children, ages 8 to 17 years old, who live with them for part of the year, Ballard said. The house would provide ample space for them, he said. Watson and West were told they would lose their mobile home in Westland Mobile Home Park, possibly in the coming months.
If Watson and West choose to buy the home, they would help fix it up and then could move in, putting their remaining sweat equity hours into other homes, Ballard said.
Watson and West originally were chosen for half of the next duplex that Habitat plans to build in West End Village. If they buy the Marchman home, Habitat will find another qualified family for the duplex unit. The other half of the duplex will go to Cathryn Marie, a widow, and her two children.
The organization's first duplex in West End Village has been under construction for more than 18 months. Despite numerous delays, the duplex should be finished by the end of February, Ballard said.
Before work on a planned second and third duplex can begin, Habitat must raise $150,000 per duplex, as well as $20,000 it needs to fully buy back the Marchman home.
Habitat also plans to write in future deeds that families are required to maintain the homes or will have to leave.