Denver Condos and Townhomes

Littleton Foreclosures: Foothills Green Homes - New HUD Listing

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Mon, 21 May 2012 12:43:21 -0700

Oh how the market has changed over the past few months. Littleton foreclosures are moving F A S T ! Our team has been out showing Littleton homes for sale all weekend, and many of the homes on the market are receiving multiple offers and going under contract in a day or two.

HUD just listed this amazing deal on a home in the Foothills Green Homes area of Littleton. Located just north of Bowles and 2 miles east of C-470, this homes needs some work, but has amazing potential for the right buyer. With 3 beds, 3 baths and over 1,300 square feet, you wont find a single family home in Littleton for anywhere near this price.

Foothills Green Homes:

HUD Owned Home
10433 w patterson pl
littleton 80127

$145,000.00 Beds: 3 Fin Sq Ft: 1352
Baths: 3 Year: 1977
Acres:

# of Photos Avail: 5
V-tour Available: Yes

MLS #: 1094130
Listing Office:
re/max professionals Broker Remarks: property may be eligible for fha $100 dollar down payment program! hud home sold `as is`-electronic bid only fha case #0... more...

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If you are interested in learning more about Littleton foreclosures, or any of the available Littleton Homes for sale, give our team a call at 303-726-1874. We have extensive experience in the entire south Denver Metro area and can help you find the bests deals available.

In addition, we can help you with all of the listed Denver HUD homes and help you take advantage of the HUD $100 down payment program.

Colorado Foreclosures: RealtyTrac Numbers Show Improvement

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Fri, 18 May 2012 13:01:30 -0700

Early this week, we posted here about a report from the Colorado Division of Housing showing mixed numbers for Colorado foreclosures in April. Yesterday, RealtyTrac released its report, showing a a slightly more positive number. According to this report, year over year numbers for Colorado foreclosures and related filings have dropped 15.5 %.

While the reports don't match up, its interesting to see that both sources are showing a continued positive trend for both foreclosure filings and sales.

From the Denver Business Journal:

The number of Colorado properties with foreclosure filings fell 0.88 percent in April from March and dropped 15.5 percent from April 2011, according to a monthly report Thursday from RealtyTrac Inc. RealtyTrac Inc.Latest from The Business JournalsForeclosures fall in Washington state, WestEau Claire area fares better in foreclosuresSt. Louis metro foreclosures up 28 percent Follow this company

The state had 3,709 properties with filings last month, or one out of every 597 housing units statewide, down from the March tally of 3,742 properties, or one in 591 properties, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

RealtyTrac ranked Colorado 11th among the 50 states for its foreclosure filing rate in April, down from 10th in March.

This continues the trend we've been seeing for several months painting a much improved picture for Colorado foreclosures when compared to recent years. In addition, our state tends to be ahead of the nation for both foreclosure recovery and general housing sales.

If you have questions or would like to talk about these numbers, give our team a call at 303-726-1874.

Denver Condos: Investor Alert! Rented Section 8 Unit for just $47,000!

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Thu, 17 May 2012 08:02:33 -0700

If you're an investor looking at Denver Condos, you better move quick. We just listed this unit in Shadow Wood condos. This condo has been fully rented for years by a long term tenant. It is approved and rented as a Section 8 rental through the county of Denver with a lease rate of $636 a month.

We have already had 4 showings on this home and expect multiple offers. If you are an investor considering Denver foreclosures or other fix-up opportunities, you should really give this unit a look. No fix up, no need to find a tenant, just instant, positive cash flow.

Denver Condos:

7665 e eastman ave
denver, CO 80231

$47,000.00 Beds: 1 Fin Sq Ft: 714
Baths: 1 Year: 1978

# of Photos Avail: 1
V-tour Available: No

MLS #: 1093214
Listing Office:
mb the brian petrelli team Broker Remarks: investors only. section 8 rental with long term tenant leased at $636 a month. easy positive cash flow on this great opp... more...

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This is a rare opportunity, and one that savy investors realize does not come along often. If you'd like more information, call our team at 303-726-1874 today before it's gone.

Colorado Foreclosures: Mixed Numbers in April

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 16 May 2012 16:09:55 -0700

The number of filings and sales of Colorado foreclosures has a huge impact on the market in general. Over the past several months, we've seen a downward trend in both filings and sales. According to a report released today by the Colorado Division of Housing, while the year-over-year numbers are still down (1% decrease compared to the year to date numbers for 2011) foreclosure filings bumped up 7.3 in April when compared with April of 2011.

From the Denver Business Journal:

Foreclosure filings were up 7.3 percent in April from April 2011, while foreclosure auction sales fell 36.2 percent over the same period.

For the first four months of the year, both new foreclosure filings and foreclosure auction sales in Colorado metro areas were down when compared with the same period last year.

Foreclosure filings for the first four months of 2012 are down 1 percent from the same period last year, falling to 8,395 from 8,476.

Over the same period, foreclosure auction sales were down 29 percent, dropping to 4,387 from 6,177.

The entire report and article are worth a read. Colorado foreclosures are always a major topic when computing market stats and this report does a good job of explaining the situation.

Again, the numbers for each region, county and city vary, so if you have specific questions on your area, give our team a call at 303-726-1874 and we can run you a custom report.

Denver Luxury Homes: Prices Remain Flat, Sales 'Consistent'

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Tue, 15 May 2012 15:21:34 -0700

No real change for Denver Luxury homes according to a report cited in the Denver Business Journal this afternoon. While sales of luxury homes in the Denver market are up when compared to the same time last year, the month of April showed no real change.

What is important to note in this report is that the available inventory of Denver Luxury homes is down drastically from last year - 48% to be exact. This reduced inventory is keeping prices higher - both month-over-month and year-over-year.

From The Denver Business Journal:

Prices for luxury homes in metro Denver have remained flat, but the overall market for homes priced $1 million and above is healthier and has been showing more activity than at the same point in 2011, according to a report Tuesday based on Metrolist Inc.’s Metrolist Inc.Latest from The Business JournalsMetrolist releases positive April home-sales reportPinnacol’s strategy, ULA’s rockets, Icelandair’s debut in the new DBJMLS adds ‘green’ info, but will it help sell homes?Follow this company multiple listing service data.

In April, 41 luxury homes and condos closed in metro Denver with a $64.2 million volume for all sales, according to Gary Bauer’s report. Bauer is an independent Littleton-based broker and Metrolist board member.

and:

The average sales price for $1 million-plus homes stood at $1.61 million, up from March’s average of $1.52 million and up 7.3 percent from April 2011.

The market for Denver Luxury homes is an interesting to watch. With a much smaller pool of sales to examine, a slight uptick in Denver Luxury foreclosures can have a significant impact on average prices and sales numbers.

If you would like to talk to our team and learn more about this market or talk about the entire market of Denver homes for sale, give our team a call at 303-726-1874.

Highlands Ranch Homes: new Foreclosure from HUD

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Thu, 10 May 2012 11:48:52 -0700

Our team is constantly watching for the market for great deals on Highlands Ranch homes. Late yesterday, HUD released one of only 3 Highlands Ranch foreclosures listed as a HUD and eligible for the $100 HUD down payment program.

This new listing is located in the Eastridge Highlands Ranch area just west of Quebec and south of University Blvd. This puts it near the Grand Golf park / Course and close to Eastridge Rec Center. This 3 bedroom home has over 1,600 square feet and is priced at only $255,000.

As with all of the available Highlands ranch foreclosures, we expect this home to go quickly and receive multiple offers, so if you are interested, contact our team today at 303-726-1874.

Highlands Ranch Homes:

HUD Owned Home
4865 e collingswood dr
highlands ranch 80130

$225,000.00 Beds: 3 Fin Sq Ft: 1677
Baths: 3 Year: 1999
Acres:0.12

# of Photos Avail: 5
V-tour Available: Yes

MLS #: 1091181
Listing Office:
re/max professionals Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. this home is afantastic... more...

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The market for Highlands Ranch homes is one fire - especially for homes under $500,000. We had a client who selected 8 Highlands ranch homes to see this Friday. As we scheduled the showings, 3 of them were already under contract! If you're thinking of buying, give us a call now and get set up on our daily alerts so you don't miss any of the homes the day they hit the market! You can reach us at 303-726-1874.

Colorado Foreclosures: Sales and Filings Down Again

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 09 May 2012 11:01:13 -0700

In line with all of the statistics we've been seeing on Denver homes for sale, the latest numbers for Colorado foreclosures show a decline in both filings and sales for the first four months of this year when compared to the same time period last year.

While foreclosures are not disappearing, there is a drastically lower number of both Colorado foreclosures and standard homes for sale. Number over the past months have indicated that overall inventory has decreased year-over-year by anywhere from 30-35%. This is causing prices to rise as buyers, especially in the sub $500k category, compete for homes.

From the Colorado Division of Housing:

Both new foreclosure filings and foreclosure auction sales were down during the first four months of this year when compared to the same period last year. According to a report released Wednesday by the Colorado Division of Housing, foreclosure filings in Colorado’s metropolitan counties were down 1.0 percent for the first four months of 2012, comparing year over year, falling from 8,476 to 8,395.

Over the same period, foreclosure auction sales were down 29.0 percent, dropping from 6,177 to 4,387. For the month of April alone, foreclosure filings were up 7.3 percent from April 2011 to April 2012 while foreclosure auction sales fell 36.2 percent over the same period.

From March 2012 to April 2012, foreclosure filings fell 10.8 percent while foreclosure auction sales rose 6.1 percent. Since 2008, March and April have tended to be two of the most active months for new foreclosure filings in Colorado, with totals in both filings and auction sales tending to drop off in May.

If you are interested in seeing the available Colorado foreclosures, give our team a call at 303-726-1874. With our expertise, we can still find you the best deals available. Let us know what you're looking for and we can set you up on a daily email alert so that you are notified each morning of new listings. The buyers that find new foreclosures quickly are usually the buyers who get the home.

The Denver metro area is quickly turning into a Sellers' market. If you are thinking of buying in the next year, you may want to move your timetable up!

Denver Homes for Sale: Home Prices Increase 3.5%

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Tue, 08 May 2012 09:22:51 -0700

Not to sound like a broken record, but more numbers came out again showing the continued market improvement for Denver homes for sale. These numbers include the sales numbers for Denver distressed properties.

Today's Denver Business Journal has the details:

Home prices in metro Denver continued the climb upwards in March, beating both the state and national numbers, according to the most recent home price index (HPI) report from CoreLogic CoreLogicLatest from The Business JournalsCoreLogic: Louisville home prices fall by 0.1 percentReport: Ohio home prices down 3% in MarchAustin home prices up 4.8% in MarchFollow this company released Tuesday.

In the Denver-Aurora-Broomfield area, the HPI increased by 3.5 percent from March 2011. That index included sales of distressed properties.That HPI also showed a greater increase than February’s year-over-year increase of 1.6 percent for all sales, including distressed – which are short sales and “real estate owned” or REO transactions.

The metro Denver area’s index without distressed properties increased 2.3 percent in March, compared to the same month a year ago.

These numbers continue to bolster the growing consensus that the Denver housing market is in the midst of a recovery. In fact, these numbers show a slightly larger recovery than some of the statistics we've seen in the past few months.

These numbers are a very strong sign. the fact that they included figures for both standard resales as well as Denver distressed properties (Denver foreclosures and Denver short sales) highlights the point we've been making for months: the foreclosure market is getting more competitive and you need to bid quickly and with strong bids.

If you'd like to talk more about Denver homes for sale or any of these market stats, give our team a call at 303-726-1874.

Denver Homes for Sale: Latest Numbers Released - All Positive

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Fri, 04 May 2012 07:27:52 -0700

Again, we continue to see positive data on Denver homes for sale. Yesterday, Metrolist released it's April Data and in every category, the year-over-year numbers showed strong improvement. In fact, the only number that was down was inventory - part of the reason many of the other numbers (sales price, sold homes and pending contracts) were up.

From the Denver Business Journal:

Metrolist Inc. Metrolist Inc.Latest from The Business JournalsPinnacol’s strategy, ULA’s rockets, Icelandair’s debut in the new DBJMLS adds ‘green’ info, but will it help sell homes?Denver's luxury housing market sees strong MarchFollow this company released its April data Thursday — and every category showed year-over year improvement. Inventory was down, sales were up, average sales price was up and the number of pending contracts increased in double digits.

The inventory of homes and condos available for sale held steady from March to April at 10,254, but that’s a steep, 37 percent decline from April 2011.

“We continue to see tight inventory in the market, which means there is about two-to-three months of supply available,” Kirby Slunacker, president and CEO of the Greenwood Village company, said in a news release. “Conditions are favorable and we continue to look for signs of improvement such as continued price appreciation.”

Since the 4th quarter of last year we've been reporting on our blog all of the positive numbers in the market for Denver homes for sale. Demand continues to increase, the number of Denver foreclosures for sale continues to decrease and the current inventory continues to be 30%-40% below last year's numbers.

All of these factors are contributing to the slow, but steady, recovery for home prices in the Denver area. With interest rates still below 4%, there is still time to get a great deal, but the market is definitely swinging from a "Buyer's Market" to a "Seller's Market."

If you'd like more information on Denver homes for sale, Denver foreclosures, Denver HUD Homes or have more questions, give our team of experts a call at 303-726-1874.

Great Time to Buy Denver Distressed Properties:Denver Rents Increase Sharply

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Thu, 03 May 2012 09:34:40 -0700

We've been helping many of our investment clients capitalize on the drastic increase in renatl rates across the Denver area. By locating the best deals on Denver Distressed properties (Denver foreclosures and short sales), we helped many investors who have previously targeted fix-and-flip homes, focus instead on buy-and-hold-homes.

By taking advantage of the incredibly low interest rates and the steady increase in rental rates, our investor clients have been realizing a great return on the money and a very positive cash flow. The Denver Business Journal recently ran an article detailing the rental increases and the vacancy rate decreases:

Rents at metro Denver apartments jumped 4.5 percent in the first quarter from a year earlier, the biggest year-over-year increase in a decade, according to a report Tuesday from the Apartment Association of Metro Denver Apartment Association of Metro DenverLatest from The Business JournalsGordon Von Stroh, DU professor and apartment analyst, dies at 69Denver-area apartment vacancies hit 12-year low for Q4Cost of renting an apartment climbs in DenverFollow this company .

Average rent for seven counties portion of metro Denver area stood at $952 in the first quarter, up from $911 in the first quarter of 2011, the report stated.

With vacancy rates continuing to drop, the rise in rents didn’t surprise the report authors, which include the Colorado Division of Housing.

If you have considered investing in Denver distressed properties, Denver short sales or Denver foreclosures, or would like to talk to our team of experts on the difference between fix-and-flip and buy-and-hold, give us a call at 303-726-1874. There is a huge opportunity right now for investors who make smart, informed decisions and take advantage of the rental rates and current vacancy numbers.

Colorado Foreclosures Drop in First Quarter 2012

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Mon, 30 Apr 2012 07:42:26 -0700

Some more news late last week on the severely decreasing number of Colorado foreclosures being filed and sold this year. In 2012, Colorado foreclosure filing dropped 40% compared to the same time period last year. This is inline with the overall decrease in inventory we've been writing about on our blog for the past several months.

From The Denver Business Journal:

Colorado foreclosure filings and foreclosure auction sales were both down in the first quarter from a year earlier, with foreclosure sales dropping nearly 40 percent in Denver and Douglas counties, according to a report released Thursday by the Colorado Division of Housing.

New foreclosure auction sales statewide were down 25 percent in the first quarter compared with the same period last year, and new foreclosure filings were down 3.7 percent.

The state reported 4,221 foreclosure auction sales, or completed foreclosures, in the first quarter, compared with 5,605 sales reported during the same period of last year.

This declining inventory (of both Colorado Foreclosures and all available Denver homes for sale), is resulting in a severe shortage of available homes for buyers - especially in the under $300,000 price range. We've had countless clients over the past few months get forced into a bidding war on a home that would have sat on the market for 6 months or longer just a year agho.

If you are interested in getting a good deal on Colorado foreclosures, there are still great values to be found, but you need to be able to find, and offer on, a home very quickly. We highly recommend calling our team to get set up on a daily alert of foreclosures and bank owned homes so you can be among the first to know when a new home hits the market. You can reach us at 303-726-1874.

Denver Homes for Sale: Year-Over-Year Price Gain, Again.

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 25 Apr 2012 12:47:08 -0700

We didn't have time to blog about it yesterday, but some great news came out regarding Denver homes for sale. For the second month in a row, Denver showed a year-over-year increase in home prices. This corresponds with all of the otehr reports and dat we've been repeating here, but it's worth repeating.

From The Denver Business Journal:

For the second straight month, metro Denver posted a year-over-year increase in home prices in February, according to the latest S&P/Case-Shiller Home Prices Index.

Those consecutive gains were the first year-over-year price increases for the Denver area in 19 months, according to the closely-followed monthly report on average home-resale prices from Standard & Poor's Standard & Poor'sLatest from The Business JournalsFollow this company .

Denver's February home prices were up 0.5 percent in February from the same month a year earlier, following January's slight 0.2 percent gain.

The market for Denver homes for sale is hot. We sold two homes this past weekend that we had on the amrket for less than 24 hours! Many of our agents this week were helping clients with Denver foreclosures. On several occasions, our team was forced to get into a bidding war on these foreclosures for our buyers because of the huge demand.

If you are thinking of buying or selling a home in the Denver area, give our team of experts a call so we can make sure you have all of the data and information you need: 303-726-1874.

Denver Short Sales - 2 Homes Under Contract - Both On The Market 1 Day!

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Tue, 24 Apr 2012 13:48:29 -0700

Our team deals with many Denver short sales each month. This past weekend, Darcy Truppo on our team listed two short sale listings in the Denevr area. Both homes went on the market on Friday and both were under contract by Saturday!

We've been reporting on the shrinking inventory of Denver homes for sale over the past several months and the impact that declining inventory is having on the days on market for existing homes. These two sales are only a small fraction of the homes our team has put under contract in less than a week over the past few months. The market is incredibly strong for homes priced under $300,000 in the Denver area.

if you're thinking of selling your home but are worried about all the negative housing news you've been reading, give our team a call and let us run a market analysis on your home. You may be pleasantly surprised at what homes in your neighborhood are selling for. You can reach us at 303-726-184.

Both of these homes Sold after being on the market just 1 day!

Lakewood Short Sales:

1900 dover st
lakewood 80215

$245,000.00 Beds: 3 Fin Sq Ft: 2184
Baths: 2 Year: 1926
Acres:0.28

# of Photos Avail: 5
V-tour Available: No

MLS #: 1085023
Listing Office:
mb the brian petrelli team Broker Remarks: short sale already approved at $245! totally remodeled with contemporary styling throughout. dramatic windows add lots ... more...

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Aurora Short Sales:

16722 e kentucky ave
aurora 80017

$153,000.00 Beds: 4 Fin Sq Ft: 2320
Baths: 3 Year: 1979
Acres:0.21

# of Photos Avail: 5
V-tour Available: No

MLS #: 1085190
Listing Office:
mb the brian petrelli team Broker Remarks: motivated seller!! inviting and well-kept tollgate tri-level with a great deck and huge back yard, including a fenced g... more...

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Remember, each neighborhood is different. Denver short sales in one neighborhood can have a completely different dynamic than Lakewood short sales just a few miles away. Give us a call and let us help you make the best choice when buying your next home: 303-726-1874.

Denver Homes for Sale Rank 2nd in Nation for Days on Market

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Thu, 19 Apr 2012 11:23:53 -0700

We've been blogging about the rapidly decreasing inventory of Denver homes for sale for months now. Over the past few weeks, it looks like the media is starting to pay attention. Today, the Denver Post ran a front page article on the Denver home market boasting the second fastest days on market in the country.

From The Denver Post:

Metro Denver's real estate market, not long ago a buyer's domain, suddenly has shifted to a seller's paradise, at least in some neighborhoods and price ranges.

Realtors' offices are rife with fresh anecdotes of sellers happily cherry-picking from multiple offers — some of them above the asking price.

How fast is the market moving? A new report shows that Denver is No. 2 in the nation for the shortest length of time that a home is listed before being sold — 33 days — far below the national median of 89 days.

Read more: Denver housing market second in nation for quick sales - The Denver Post http://www.denverpost.com/business/ci_20429074/denver-housing-market-second-nation-quick-sales?ana=e_den_rdup&s=newsletter&ed=2012-04-19#ixzz1sVm9RcN5
Read The Denver Post's Terms of Use of its content: http://www.denverpost.com/termsofuse

The entire article is worth a read. It notes that there are many Denver foreclosures that have not been released by the banks. It remains to be seen how this inventory will affect the market.

In addition, this article points out, as we continue to emphasize, certain neighborhoods are impacted more than others by this decreased inventory. We always recommend having your agent do a detailed analysis of the neighborhood market before making any offers. If you'd like to have our team prepare one for you, or if you just have questions about Denver homes for sale, give us a call at 303-726-1874.

As a reminder, we're seeing most Denver foreclosures, especially Denver HUD homes, sell even quicker than the average. In addition, these homes typically receive multiple offers. If you are serious about buying a home, make sure you have our team set you up on our daily foreclosure email alerts.

Denver homes for Sale: Closings Increase Statewide - Again!

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 18 Apr 2012 13:34:45 -0700

Again, we're seeing positive numbers for the entire Colorado housing market. The Number of Denver homes for sale that successfully closed rose 13.5% in February year-over-year from 2011. This increase in sales is consistent with the numbers we've been reporting here for the past severl months.

From the Colorado Division of Housing:

The number of single-family home sales closings increased again in February in metro Denver, the Pikes Peak Region, and statewide. According to home sales information released by the Colorado Association of Realtors, the number of single-family closings rose 13.5 percent in metro Denver during February 2012 compared to February 2011. Over the same period, closings rose 17.6 percent statewide, and 14.3 percent in the Pikes Peak region. Statewide in February, there were 3,746 closings. 2,036 of them were in the metro Denver region and 511 occurred in the Pikes Peak region.

Keep in mind, these increased sales are coming at the same time that inventory has declined by over 30% year-over-year. This has resulted in a pretty severe shortage in homes priced under $300,000 in the Denver metro area. Our team has been a perty to many bidding wars for homes over the past few months and we don't see this trend decreasing anytime soon.

If you are considering buying any of the available Denver homes for sale, especially Denver HUD homes or Denver foreclosures, make sure you get set up on one of our daily email alerts so you don't miss the more popular homes when they come on the market. You can have our team set you up on these alerts by calling us at 303-726-1874.