Denver Condos and Townhomes

Fix and Flip Denver Homes - Suzanna Von Hurst

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Fri, 03 Feb 2012 14:09:35 -0500

Our team is excited to announce that Suzanna Von Hurst is bringing her vast expertise on Fix and Flip Denver Homes and investment property to our team. Suzanna has been an agent for several years, but even before she obtained her license, she was successfully buying and "flipping" homes across the metro area.

With her experience and knowledge, as well as her industry connections, were thrilled to have her as a resource for both our clients and the other agents in our company.

As many of you in the industry know, "flipping" homes in the Denver area has become much more difficult over the last few years. In the past, most Denver foreclosures could be purchased, refurbished and flipped for at least a small profit. Now the profit margins are tighter and the margin for error is smaller.

While Fix and Flip Denver Homes can still be profitable, the entire endeavor must be done with the proper planning and the right knowledge. If you're interested in learning more about investing in these types of homes, you owe it to yourself to give Suzanna a call.

Suzanna can be reached at 303-263-3581.

Colorado Foreclosures Fall 25 Percent

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 01 Feb 2012 17:04:03 -0500

The good news on Denver foreclosures keeps coming. The number of Colorado foreclosures reached the lowest level since 2006. The total number of foreclosures for 2011 show a 25% decline from 2010.

These number continue to correspond with the statistics and housing inventroy we've been seeing over the past year. Inventory number continue to decrease and we're finding the number of Denver HUD homes and foreclosures decreasing at a faster rate than the traditional resales.

From the Denver Business Journal:

Colorado foreclosures in 2011 reached their lowest level since 2006, the state Division of Housing reported Wednesday.

New foreclosure filings in Colorado, which may or may not lead to the auction of a home, last year totaled 31,914, down 25 percent from 2010 levels. Meanwhile, foreclosure sales at auction totaled 19,622 in 2011, down 17 percent.

Both totals were the lowest statewide since 2006, the report said.

While the decrease in foreclosures doesn't mean that things are going to improve overnight, these numbers serve to strengthen a trend we've been seeing for the past year.

As with all real estate, everything is local. If you'd like information on foreclosures in a specific neighborhood or city, give us a call at 303-726-1874. The numbers for Denver foreclosures can vary wildly from neighboring cities and areas.

Highlands Ranch Patio Homes - New Listing by HUD

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Fri, 27 Jan 2012 13:35:24 -0500

Highlands Ranch patio homes are always in high demand, yet hard to find. Sometimes the reason is that listings in the MLS are not entered correctly. This is the case with the home HUD just listed on Laurenwood.

While located in one of the most affordable neighborhoods for Highlands Ranch patio homes (The Villages Highlands Ranch), the "Patio / Cluster Home" check box was not checked. So, if you're searching for patio homes in Highlands Ranch, this home would not come up.

This is a great deal ona home this size in this neighborhood. With 3 beds and 3 baths, we expect this PAtio home to sell quickly. If you'd like to see it, give us a call at 303-726-1874.

The Villages Highlands Ranch

HUD Owned Home
1407 laurenwood way
highlands ranch 80129

$220,000.00 Beds: 3 Fin Sq Ft: 1619
Baths: 3 Year: 1996
Acres:0.1

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

MLS #: 1062143
Listing Office:
westfall & company marketing Broker Remarks: hud owned*sold as is*open floor plan*kitchen has a breakfast bar, oak cabinets, tile counters and hard wood floors*oak h... more...

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If you'd like to learn more about Highlands Ranch homes for sale or Denver HUD homes, give our team a call at 303-726-1874 today.

Quail Run Townhomes Aurora CO - Under Contract in 7 Days!

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 25 Jan 2012 16:14:47 -0500

We proud to announce that our newest listing in Quail Run Townhomes Aurora CO went under contract in just 7 days. If you're in the market for Aurora Townhomes, STOP listening to the media and reading the stories of the dismal real estate market. Properties are moving quickly because the market inventory is incredibly low!

We have buyers that are getting outbid on Denver HUD homes every week and we can't find suitable resale homes for them either. This is GREAT news for Sellers. If you are thinking of putting your home on the market. Last week, we put two homes under contract in less than a week.

Quail Run Townhomes Aurora CO:

1119 s waco st
aurora, CO 80017

$64,900.00 est $ Beds: 2 Fin Sq Ft: 784
Baths: 1 Year: 1984

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

MLS #: 1060865
Listing Office:
mb the brian petrelli team Broker Remarks: fantastic end, ranch unit! vaulted ceilings, private, fenced backyard area with patio. with all all appliances included,... more...

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If you would like more information on this, or any other available Aurora Townhomes, give our team a call at 303-726-1874. We can help you find the right home for your needs. And again, if you're thinking of selling, call us today to find out how we're selling our listings so quickly!

Quail Run Townhomes Aurora CO - Amazing Deal on a 2 Bedromm Ranch

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Thu, 19 Jan 2012 16:22:31 -0500

Our team is excited to announce our newest listing in Quail Run Townhomes Aurora CO. If you're in the market for Aurora Townhomes, make sure you take a look at this great 2 bedroom, 1 bath, ranch style end unit. This home has a fenced in backyard with a deck, vaulted ceilings and all appliances are included!

If you are unfamiliar with Quail Run Townhomes, they are located just off of Mississippi Ave just east of Buckley Rd. Providing easy access to I-225 as well as DIA, this home is in a great location. Make sure you check out the virtual tours on our website by following the link below.

Quail Run Townhomes Aurora CO:

If you would like more information on this, or any other available Aurora Townhomes, give our team a call at 303-726-1874. We can help you find the right home for your needs.

Denver Luxury Homes: Inventory of Luxury Homes Shrinks in Denver

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Tue, 17 Jan 2012 17:31:15 -0500

It looks like the shrinking inventory we've been detailing here is beginning to expand into Denver Luxury homes as well. As we've discussed on our blog, the inventory of available homes in the metro Denver area continues to shrink. We've seen it in almost all markets and price points, from Denver HUD homes to Denver luxury foreclosures. But now, it appears that the more standard resale luxury homes are experiencing the same problem.

From the Denver Business Journal:

The number of luxury homes available for sale in metro Denver continues to drop, according to a report analyzing multiple listing service data released Tuesday.

There was an inventory of 566 residential homes available for sale in December, down from 650 available in November, according to the report from independent Littleton broker Gary Bauer using Metrolist Inc. Metrolist Inc.Latest from The Business JournalsReal estate brokers predict healthier 2012 residential marketHome inventory continues to tighten in metro DenverDenver-area luxury home sales up in NovemberFollow this company data. That inventory level marked a steep 35 percent drop from the 875 available in December of 2010.

Those numbers, culled from the 11-county Denver area, did not include condos. A luxury home is defined as having a price tag of $1 million or more.

The reasons for the shrinking inventory is complex, but one of the main reasons is that those sellers who don't have to sell, aren't.

It will remain interesting to watch what this lack of inventory will do to prices, but in areas where we've seen diminished inventory for months (i.e. Denver HUD homes) our clients are being forced to bid above asking price to successfully win bidding wars.

if you're interested in learning more about the markets for Denver luxury homes, Denver luxury foreclosures or just the market in general, give our team a call at 303-726-1874. We can run a market specific report for you so you have the knowledge to make te right decision.

With the low inventory, now may be the right time to sell!

Colorado Foreclosures: Filings Down 29% in 2011

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Thu, 12 Jan 2012 16:54:26 -0500

More good news today on Colorado foreclosures and bank owned homes. Realty Track has a report, summed up nicely in The Denver Business Journal, detailing the 28.6% decline in foreclosure filings from 2010 to 2011.

While some of these numbers are a result of some banks facing legal issues and other process delays, it does square up with the lower foreclosure inventories we've been seeing on the market. When you add in some of the incentives that Fannie Mae and Denver HUD homes are offering, the inventory for these foreclosures is only going to diminish further.

From the Denver Business Journal:

Colorado saw a 28.6 percent decline in the number of properties with foreclosure filings in 2011 from the year before, but still had among the 10 highest foreclosure rates in the nation, according to a report Thursday from RealtyTrac Inc. RealtyTrac Inc.Latest from The Business JournalsOregon foreclosures down 40% in 2011Mecklenburg County foreclosure filings rose in December 2011 foreclosures down because of delayed filingsFollow this company

The state had 38,557 properties with filings in 2011, or one out of every 56 housing units statewide, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

As with all real estate statistics, everything is local. The term "Colorado Foreclosures" is a broad term and different areas of the state have been affected in different ways. If you'd like specific stats on an area or neighborhood, give our team a call at 303-726-1874.

Also, these statistics do not include short sales or other Denver distressed properties.

Stroh Ranch Townhomes- HUD $100 Down Payment Program

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Tue, 10 Jan 2012 15:13:43 -0500

We've been working with several buyers searching for Parker Condos. There have been very few, HUD homes on the market, so we were excited when HUD listed this townhome in Stroh Ranch Townhomes.

If you are unfamiliar with the complex, it is located roughly 2 miles south of Main Street off of Parker rd. These townhomes were built in the late 90's and are a great value for anyone looking in the area. With easy access to C-470 and I-25, these homes offer a great location at a terrific price.

If you'd like to tak a look at this home, or learn more about the HUD $100 down payment program (which this unit qualifies for), give our team a call at 303-726-1874

HUD Owned Home
19440 e mann creek dr
parker 80134

$143,000.00 Beds: 2 Fin Sq Ft: 1052
Baths: 2 Year: 1998

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

MLS #: 1054809
Listing Office:
mb cliff johnson realty Broker Remarks: beautiful 2 bed 2 bath townhome with attached garage. like new condition. large master with private bath. hud owned sold... more...

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Our team can help you with all of the available Parker condos and townhomes. Give us a call today to talk about Parker foreclosures, short sales and standard resales. Remember, all of the active Denver HUD homes qualify for the HUD $100 down payment program and we can help you navigate through it. You can reach us at 303-726-1874.

Denver Homes for Sale: Metro Denver Home Prices up in November from Previous Year

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Mon, 09 Jan 2012 13:08:48 -0500

Some more good news for Denver homes for sale. Data from November of 2011 and 2010 show that home prices rose year over year. Even more importantly, these statistics included Denver distressed properties as well as standard resale homes (Distressed properties included Denver foreclosures and short sales).

This is in stark contrast to the nationwide data which showed a 4.3 percent year over year decline. Just one more reason to tak all the of the news articles you read on a nation housing crisis with a grain of salt. Denver is performing much better than average.

From The Denver Business Journal:

Home prices in the Denver metro area rose in November 2011 from the same month a year earlier, according to the latest Home Price Index report, issued Monday by CoreLogic Inc. CoreLogic Inc.Latest from The Business JournalsMilwaukee-area home sale prices dropped in NovemberCoreLogic: Orlando home prices see small dropAtlanta home prices down 8.2% in NovemberFollow this company

The report said home prices, including distressed sales, in the Denver-Aurora-Broomfield area were up 1 percent year-over-year in November.

Excluding distressed sales, CoreLogic reported a 1.5 percent year-over-year rise in November.

This is just one more indication that the Denver market is slowly improving. We're not seeing big spikes of improvement, but the market for Denver homes for sale has been gradually improving for many months now.

If you'd like to talk about The Denver market, Denver foreclosures or Denver distressed properties, give our team a call at 303-726-1874.

Littleton Condos: $100 HUD Down Payment Program Still Available

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 04 Jan 2012 14:56:32 -0500

We've had some calls from buyers looking at Littleton Condos wondering if the HUD $100 Down Payment program is only available on Denver HUD homes, or if it is available on all listed HUD homes. The good news is that all listed HUD homes are eligible for this program - regardless of the city. However, if you you are interested in this program, please undrstand that this HUD $100 down payment program is only available to owner-occupants, not investors.

While this program is increasing competition for HUD homes, the are still some great deals on Littleton Foreclosures that qualify for this program. We've posted some of the best deals below, but if you'd like a complete list of Denver HUD homes or would like to speak with our team more about this program, give us a call at 303-726-1874.

Littleton Condos Eligible for the HUD $100 Down Payment Program:

Fantastic price on this large 1,300 Littleton townhome with open basement and 2 car attached garage.

HUD Owned Home
5990 s jellison st
littleton 80123

$158,400.00 Beds: 2 Fin Sq Ft: 1337
Baths: 3 Year: 1997

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

MLS #: 1045903
Listing Office:
envision it sold, inc Broker Remarks: great potential. fixer upper, needs work. vaulted ceilings, skylight. plenty of sunlight. wood floors. open basement. ba... more...

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Great deal on this Condo located in The Crossings Chatfield Condos. 1,100 square feet. Bids due on te 9th of January.

HUD Owned Home
8314 s everett way
littleton 80128

$137,000.00 Beds: 1 Fin Sq Ft: 1108
Baths: 2 Year: 1984

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

MLS #: 1054570
Listing Office:
keller williams dtc Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-493003 bid deadline daily @ 11:59 pm. investor offers after 1/9/2... more...

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As always, if you have questions on Littleton foreclosures or Littleton Condos, give our team a call at 303-726-1874. We're here to help.

Denver Homes: Home Inventory Continues to Tighten in Metro Denver

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Tue, 03 Jan 2012 17:17:36 -0500

If you've spoken to any of our team's agents over the past few months, you know that the biggest problem we're facing isn't Denver foreclosures, short sales or HUD homes. rather, the biggest issue we're dealing with is the lack of inventory; There just aren't enough homes to meet all of our buyer's needs.

If you've been reading the news for the past 3 years, this may come as a shock, but the fact is that many people are holding off selling their homes if they don't have to. This is causing inventory to plummet. And it seems that our anecdotal evidence is finally being reported.

Here's a story from today's Denver business Journal:

The inventory level of metro Denver single-family homes and condominiums continued to fall in December, holding a trend that has grown pronounced in the last couple of months, according to a report Tuesday drawing on Metrolist Inc. data.

The 12,531 homes on the market in December represented a 12 percent drop from November, and a 34 percent drop from December 2010, the report states. That number marked a 24 percent drop from December 2009’s 16,456 homes on the market.

“Prospective home sellers are still sitting on the fence,” said Gary Bauer, an independent, Littleton-based real estate broker and Metrolist analyst.

The continuing decline in inventory started in July and led Bauer to predict last month the level could hit 10,000 soon.

Read the whole article. Here's what I've been saying for months, echoed in the article:

“I do believe that 2012 is going to be better than 2011, but I don’t believe it’s going to be a dramatic rebound,” Bauer said. “There’s going to be steady progress on transactions and prices, but not big increases. Everyone’s going to keep focused on the economy and that’s going to cause several prospective home-buyers to sit on the fence.”

It will be interesting to see how this inventory begins to affect prices. i still maintain our market is rebounding - very slowly.

If you would like to talk about Denver homes for sale, Denver foreclosures or Denver HUD homes, give our team a call at 303-726-1874.

National Pending Home Sales Rise to Year and a Half High

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Mon, 02 Jan 2012 11:52:39 -0500

It looks like the trend we're seeing in Denver Homes for Sale is taking place at a national level as well. As we've been reporting here, the number of buyers has been increasing for months. And while prices are only trending upward slightly, it is a very positive sign that the number of Under Contract and Pending homes for sale are increasing.

This article from AOL, gives a good summary of the national picture - cautious optimism:

The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half.

The best reading on pending homes sales since a federal home-buying tax credit expired appeared to encourage traders on Wall Street.

Still, the National Association of Realtors cautioned that a growing number of buyers are canceling their contracts at the last minute, making the gauge less reliable.

The Realtors group said Thursday that its index of sales agreements jumped 7.3 percent last month to a reading of 100.1.

Always remember, that trends - no matter how positive or negative - should never be substituted for local data. Over the past couple of years, prices for Highlands Ranch homes for sale have remained fairly stable while nearby areas like Aurora and Arvada have been hit much harder. If you're considering a specific area, give us a call and we can run neighborhood specific date for you. You can reach our team at 303-726-1874.

Also, factors like foreclosures and short sales impact numbers dramatically. You can see all of the available Denver HUD homes on our website or for a list of recently sold HUD homes, give us a call.

Denver Short Sales: Major Lenders Offering Perks on Short Sales

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Wed, 28 Dec 2011 13:05:46 -0500

Our team deals with Denver short sales and foreclosures every single day. Listing a short sales brings with it a myriad of bank policies, procedures and paperwork. We've gone out of our way to streamline this process for our sellers and make it as painless as possible. It appears that many of the banks continue to attempt to improve their process as well.

An article this morning from DSNews.com highlights a few of the programs we've been made aware of from the banks. It's an interesting read and while many of these changes should have been made several years ago, it's nice to see the banks changing:

From DSNews.com:

JPMorgan Chase is also offering a range of incentives to borrowers that agree to a pre-foreclosure sale “because if we can’t work out a modification, a short sale is a better result for the borrower, the servicer, the investor, and the neighborhood than a foreclosure,” the company said in a statement.

Chase says the amount of the offer “depends on a number of factors” but declined to share specific details on how much money it’s been providing to short sellers.

One agent in Florida confirms that he has indeed received a letter from Chase offering $20,000 to a borrower he’s representing in a short sale transaction.

Another agent in California says he closed a short sale with Chase where the borrower was paid $30,000 at closing for cooperating with the short sale.

The article goes on to outline several of the banks and their new policies on short sales.

If you are interested in talking about Denver short sales, or need more information on potentially listing your home as a short sale, give our team a call at 303-726-1874. We're experts in the area and have an entire team dedicated to making the process easy.

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Englewood Condos - Englewood Foreclosures

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Mon, 26 Dec 2011 13:45:57 -0500

So I have to admit that I checked out a little early last week before the Christmas holiday. In doing so, I missed the newer listing by HUD (One of only two Englewood condos they have listed).

This new listing is located in the Southcreek Townhomes complex between Jordon and Parker rd about a mile north of C-470. One of the best values in the area, Southcreek offers townhome from the low to upper $100's. This HUD listing is an amazing deal. Currently a smaller resale unit in the complex is being listed at $171,000. This HUD offering has 3 beds, 3 baths, an attached garage and over 1,500 square feet.

Check out the photos at the lin and then give our team a call at 303-726-1874. This home will not last long and you may be lucky enough to catch most people sitting out housing over the holiday week.

Southcreek Townhomes

HUD Owned Home
8062 s kittredge way
englewood 80112

$123,000.00 Beds: 3 Fin Sq Ft: 1520
Baths: 3 Year: 2001

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

MLS #: 1056292
Listing Office:
re/max momentum Broker Remarks: three bedroom home in a desirable location near dtc-close to parks, schools, and shopping with easy access to highways-b... more...

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If you are interested in Englewood foreclosures, one of the most popular Englewood condos complexes in Windmill Creek condos. HUD has a great deal on a large, 2 bedroom unit in Windmill Creek wight now for just $90,000. This complex is just down the road from Southcreek Townhomes. Here are the details:

Windmill Creek Condos

HUD Owned Home
7440 s blackhawk st
englewood 80112

$90,000.00 Beds: 2 Fin Sq Ft: 1128
Baths: 2 Year: 2002

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

MLS #: 1023038
Listing Office:
re/max professionals Broker Remarks: nice condo with a master bedroom that includes bath, walk-in closet & private patio, cozy corner, gas log fireplace nice... more...

Disclosures

If you would like more information on Englewood foreclosures or Denver HUD homes in general, give our team a call at 303-726-1874. Our foreclosure experts can help you find the best deals on the market.

Denver Luxury Homes Sales up in November

Brian Petrelli - MBA, GRI (The Brian Petrelli Team) — Fri, 16 Dec 2011 18:19:02 -0500

Some more good news came out today on the market for Denver Luxury Homes and Denver Luxury Foreclosures. The Denver Business Journal is reporting that sales of $1 million and up increased by over 20% this November from last November.

The statistics cover the entire Denver metro area and represent both Denver Luxury Homes and condos. The article and the underlying statistics are interesting and worth a look if your considering a higher end home in the Denver area. We've seen these trends repeating themselves in all price points and while we're not seeing a huge uptick in pricing, the market is moving in a positive direction.

From The Denver Business Journal:

Forty-five local homes with a price tag of more than $1 million sold in November, up eight from the 37 sold in October and up one from November 2010, the report shows.

A similar report from independent Littleton broker Gary Bauer using Metrolist data shows an inventory of 650 residential homes listed for more than $1 million in November, and 74 condos.

If you'd like more information on Denver luxury foreclosures or luxury homes, give our team of experts a call at 303-726-1874. We can send you detailed reports for the specific cities or neighborhoods you are considering. The right information can make all of the difference when buying a Luxury home.