Denver Condos and Townhomes

Our team does a great deal of business helping buyers and sellers with condos across the Metro Denver area. I've seen a lot of shady tricks pulled by HOA management companies, builders and other people involved in the real estate transaction, but this one is one of the worst. I'm not big on government regulation, but this is one time where I', happy to see lawmakers step in.

It seems that some HOA communities were attempting to set up mandatory HOA transfer fees that must be paid on any sale of a home in the community. this transfer fee was to be paid to a 3rd party and wasto be paid on every transaction for 99 years from the date of construction. These fees were going to be securitized and sold to Wall Street.

Check out the story from the Summit County Citizen's Voice:

Senate Bill 11-234 would ban private real estate transfer fees, which have been added to homeowner association covenants during the development phase to fund an investment scheme cooked up by Manhattan-based Freehold Capitol Partners.

The covenants are set up to require that a percentage of the sale price of a home be paid to a private 3d party every time the property is sold, typically for 99 years, explained Rachel Wolf, of the Land Title Association of Colorado. Freehold is attempting to bundle and securitize these fees, and sell them to Wall Street investors.

In a press release, Wolf said the fees steal home equity, lowers resale values and adds another layer of difficulty to selling a home.

Read the whole article.



Denver Metro Area Condo Searches:
Aurora Condos and Townhomes, Arvada Condos and Townhomes, Brighton Condos and Townhomes, Broomfield Condos and Townhomes, Castle Rock Condos and Townhomes, Centennial Condos and Townhomes, Commerce City Condos and Townhomes, Denver Condos and Townhomes, Englewood Condos and Townhomes, Golden Condos and Townhomes, Highlands Ranch Condos and Townhomes, Lakewood Condos and Townhomes, Littleton Condos and Townhomes Northglenn Condos and Townhomes, Parker Condos and Townhomes, Thornton Condos and Townhomes, Westminster Condos and Townhomes,

We're listing two additional Highlands Ranch homes for sale this week. In pulling up our market stats and property comparables, we put together this report on sold homes in Highlands Ranch for the past month.

The most encouraging numbers are the Days on Market (DOM). the average DOM was 100 days and the more meaningful, median DOM was 80. This is a very positive sign for the housing market in Highlands Ranch.

 We'll keep you posted on our two new listings, but in the meantime, if you're thinking of buying or selling in or around the Highlands Ranch area, give us a call at 303-726-1874. We can help with Highlands Ranch short sales, Highlands Ranch foreclosures and the more traditional re-sale homes. 

Sold Homes in Highlands Ranch

Count 91   Avg Total DOM 100   Median Total DOM 80   YOC Oldest 1983   Median 1997   Newest 2011
	Original	List	Sold	Net Sold
Average Price	$358,718	$337,530	$327,747	$325,854
Median Price	$305,000	$285,000	$285,000	$282,270
Avg Price/SqFt	$164	$156	$152	$150
Avg Price/Fin SqFt	$136	$129	$126	$125
Avg Price/Acre	$2,413,024	$2,292,118	$2,230,217	$2,215,257
Avg Price/Avg List			97.10 %	96.54 %
Avg Price/Avg Orig			91.37 %	90.84 %
Median Price/Avg List			100.00 %	99.04 %
Median Price/Avg Orig			93.44 %	92.55 %
Lowest Price	$179,900	$150,000	$151,000	$151,000
Highest Price	$1,250,000	$850,000	$799,900	$799,900
High/Low Range	$1,070,100	$700,000	$648,900	$648,900
Mode Price		$225,000	$270,000	$307,500
Volume Price	$32,643,314	$30,715,213	$29,824,941	$29,652,738

 

"Based on information from Metrolist®, Inc. for the period February 2011 through March 2011

Note:

This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.

While most days we focus on helping buyers purchase Colorado Foreclosures, I wanted to highlight a great FREE service that helps owners in Colorado avoid losing their home to foreclosure.

The Colorado Foreclosure Hotline just received a two year, $600,000 grant to allow them to continue helping owners avoid the painful foreclosure process. This hot line boasts a 80% success rate and costs the owners absolutely nothing.

If you are reading this and you are facing the real possibility of foreclosure, don't just ignore it and hope it will go away. It won't. Too many people want to avoid the embarrassment and emotional pain involved in the foreclosure process and they never reach out for help. Don't make that mistake.

You have a number of options.

1.) Call The Colorado Foreclosure Hot line: 1-877-601-HOPE. Talk to a counselor and see if you can save your home

2.) Call Us: 303-817-0209. If you can't keep your home, you may be able to sell it as a Short Sale. A short Sale is almost always a better option than a foreclosure.

We've helped countless people faced with losing thier home. Don't be embarrassed. Pick up the phone.

 

 

 

Metro Area Foreclosure and HUD House Searches:
Aurora Foreclosures and HUD Homes, Arvada Foreclosures and HUD Homes, Brighton Foreclosures and HUD Homes, Broomfield Foreclosures and HUD Homes, Castle Rock Foreclosures and HUD Homes, Centennial Foreclosures and HUD Homes, Commerce City Foreclosures and HUD Homes, Denver Foreclosures and HUD Homes, Englewood Foreclosures and HUD Homes, Golden Foreclosures and HUD Homes, Highlands Ranch Foreclosures and HUD Homes, Lakewood Foreclosures and HUD Homes, Littleton Foreclosures and HUD Homes, Northglenn Foreclosures and HUD Homes, Parker Foreclosures and HUD Homes, Thornton Foreclosures and HUD Homes, Westminster Foreclosures and HUD Homes

 An interesting piece of news on Colorado Foreclosures. It seems that homeowners who had equity in their home when the foreclosure sale happened, may not be receiving the proceeds due them at sale.

This is one of the many dangers of just "walking away." We've seen several home owners who could have attempted a short sale or loan modification simply decide it wasn't worth it. When you walk away from a mortgage, you're giving up on a lot more than just your house. Make sure you consult with legal and real estate experts before you give up hope.

If you'd like to talk more Denver short sales and your options, give us a call at 303-726-1874. 

 From the Denver Business Journal: 

Many Coloradans whose homes are sold in foreclosure auctions aren't being told that they are owed money -- sometimes thousands of dollars -- from the sales.

The Denver Post's David Migoya reports that despite a state law requiring counties to turn over any proceeds from foreclosure auctions to homeowners after debts are paid, that doesn't happen in many cases. The Post found that homeowners in Denver, Arapahoe and Douglas counties alone were owned $653,000 since 2008.

Read more: Foreclosed homeowners aren't getting sales money | Denver Business Journal

 

 

We've been receiving a number of calls from owners in the Redstone Ridge Condos complex asking for the most recent market stats.

Below we have listed the SOLD stats for the past 6 months. If you would like a detailed list of all of the homes that are active, under contract or sold, just give us a call at 303-817-0209.

For those of you not familiar with the Redstone Ridge condo complex, it is located just north of C-470 and East of Kipling in Southwest Littleton (right behind the Khols shopping center). It's a great neighborhood with easy access to everything, a private pool and large, spacious condos. If you are searching for Littleton Condos, this is a fantastic place to start your search.

 Redstone Ridge Condos Market Stats:

Count 14   Avg Total DOM 90   Median Total DOM 41
	Original	List	Sold	Net Sold
Average Price	$148,179	$143,886	$141,979	$138,957
Median Price	$150,000	$144,950	$145,700	$140,800
Avg Price/SqFt	$127	$123	$121	$118
Avg Price/Fin SqFt	$127	$123	$121	$118
Avg Price/Acre
Avg Price/Avg List			98.67 %	96.57 %
Avg Price/Avg Orig			95.82 %	93.78 %
Median Price/Avg List			100.52 %	97.14 %
Median Price/Avg Orig			97.13 %	93.87 %
Lowest Price	$102,500	$102,500	$100,000	$94,000
Highest Price	$184,900	$184,900	$175,000	$175,000
High/Low Range	$82,400	$82,400	$75,000	$81,000
Mode Price				$137,000
Volume Price	$2,074,500	$2,014,400	$1,987,700	$1,945,400

 

"Based on information from Metrolist®, Inc. for the period Febuary 2010 through August 2010

Note:

This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.