The Brian Petrelli Team Blog

Our team has a great investment opportunity coming up in the Fox Run Northglenn Townhomes complex, and we wanted to let you know about it here first!

This is large, two bedroom townhome with over 1,225 square feet and an attached 1 car garage. The unit comes with all appliances and is in great shape.

For you investors, here are the details:

Address: 11129 Gaylord St, Northglenn CO 80233

Listing Price: $158,900

HOA: $110/month

Current Lease: 12 months Feb ’14 – Feb ’15

Rent: $1,100/ month

There have been very few opportunities for Northglenn Townhomes for investors lately, so if you are in the market, contact us before this hits the MLS later this week. You can reach our team at 303-726-1874.

With the huge competition for Denver HUD homes, it is rare that we see any home make it past the 10 day bidding window for owner occupants. However, the solitary HUD listing in The Oaks Castle Rock is now accepting daily bids from potential owner occupants.

According to HUD, the home needs about $1,000 worth of work (plumbing repair, wall and paint repair). However, at the list price of $228,000 this is an incredible deal for a 4 bedroom Castle Rock home!

Bids are due each night at midnight. If you are interested in seeing this home, or placing a bid, give one of our HUD licensed agents a call at 303-726-1874 today. With bids being accepted daily, it may be gone tomorrow!

The Oaks Castle Rock:

1501 Live Oak Road Castle Rock, CO 80104  The Oaks  $228,000.00

Beds: 4      Fin Sq Ft: 2061  Baths: 3     Year: 2004  # Of Photos Avail: 25  V-Tour Available: Yes MLS #: 6395678  Status: Active  Listing Office: Re/Max Professionals

Broker Remarks:  Don’t Miss Out On This 4 Bedroom, 3 Bath Townhome In Beautiful Castle Rock! The Spacious Family Room Features A Corner G.. More…

We’ve been writing on this blog for over a year regarding the low inventory of Colorado foreclosures. This morning, numbers were released that quantify just how low the inventory of these Colorado bank owned homes has fallen.

According to an article in today’s Denver Business Journal, foreclosures in February were down over 76% compared to February of last year. This is an enormous reduction in foreclosures and points to one of the biggest struggles investors are having finding properties in the Denver area.

From the Journal:

The number of residential foreclosures in Colorado last month fell by 76.31 percent from a year ago, while the national average was down just 32.71 percent, Inside Real Estate News reports.

The information for the real estate website’s report came from new figures from RealtyTrac, which counted 290 foreclosure sales in the state during February. Colorado was third — behind Vermont and South Dakota — for the largest year-over-year percentage decline in foreclosures.

There are still opportunities for investors looking for Distressed property in Denver, but you need to be working with a team of experts that can help you identify these homes quickly. Give our team a call today at 303-726-1874

The King Ranch Estates Thornton homes area is one of the most desirable – and popular – neighborhoods in Thornton. With homes priced from the mid $300’s to the high $500’s, it’s one of the higher end communities for homeowners in the area, but it’s location, and the quality of the homes, are worth the price.

Located almost equal distance from I-25, I-76 and E-470, this neighborhood makes commuting to anywhere in the Denver area very convenient. In addition, the neighborhood is close to several parks, a golf course and more.

Home sales in this area have exploded in over the past several years (see chart below). Some of this has to do with some of the new construction in the area, but much more has to do with the quality of both the neighborhood, and the homes themselves.

If you live in the area, and are have been thinking of selling, this may be the time you have been waiting for. Demand is high, and Thornton homes are popular. Give our team a call at 303-726-1874 to learn more.

King Ranch Estates Thornton Home Sales:

Based on information from Metrolist®, Inc. for the period 2009 through 20014. 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.

In this competitive market, finding a Denver HUD home that isn’t under contract after the initial 10 day bidding period is hard to do. However, right now, there is a HUD home in the Lakewood Estates neighborhood that has made it through the initial 10 day bidding window without going under contract and is now accepting bids on a daily basis

Based on the property condition report from HUD, the major negative factor facing this home are related to the plumbing. Here is a partial excerpt from the report:

Pressure did not hold when applied with an air compressor @ 40 PSI for 20 minutes due to an uncapped refrigerator line and a damaged washer shut off at the time of the inspection. Water was inactive at the time of the inspection

This home could be a great deal for anyone willing to consider Lakewood foreclosures – especially those not afraid of a little fix up repair.

Lakewood Estates is a very popular area, and it is rare to see a foreclosure sit this long. This may be the opportunity you have been waiting for. Call us today to see it before it’s gone: 303-726-1874

Lakewood Estates

5239 West Iliff Drive Lakewood, CO 80227  Lakewood Estates  $203,000.00

Beds: 2      Fin Sq Ft: 1264  Baths: 2     Year: 1986  # Of Photos Avail: 13  V-Tour Available: Yes  MLS #: 5977044  Status: Active  Listing Office: House2home Llc

Broker Remarks:  Beautiful Townhome In Lakewood Estates. This Open Floor Plan Offers Two Master Suites A Loft And A Two Car Attached Gara..

Lakewood homes are selling fast. If you are in the market, make sure our team knows what you are looking for so we can set you up on daily email alerts. The best properties are selling in hours, not days.

Join us tomorrow in Canyon Ranch Highlands Ranch for an open house on this fantastic 2 bedroom / bath condo with vaulted ceilings, updated kitchen and all appliances included. This is a great home with large bedrooms and plenty of space.

Canyon Ranch gives you access not only to all of the Highlands Ranch recreation centers and pools, but the neighborhood has its own clubhouse with workout facility, hot tub and swimming pool. This is one of the most sought after complexes for buyers looking for Highlands Ranch condos, so make sure you see it tomorrow before it’s gone.

Join us Saturday, March 8th from 11-2:

Just south of Plum Creek Pkwy on the east side of Castle Rock is The Oaks neighborhood. This highly desirable area offers Castle Rock homes in the low to mid $200’s. There have been very few homes on the market in the neighborhood this year, which is why we were so excited when we saw that HUD had just listed a 4 bedroom home with over 2,000 finished square feet!

This is a tremendous value, and with Castle Rock foreclosures harder and harder to find, we expect to see heavy activity on this home. The large rooms, gas fireplace, walk -in closets and great backyard make this an exceptional find.

As with all HUD homes in Denver, this home will be available for bid only to Owner occupants for the first several days. If you would like to see it, give our team a call at 303-726-1874. Don’t wait on this home!

The Oaks Castle Rock Homes:

HUD Owned Home 1501 Live Oak Road Castle Rock 80104    $228,000.00

Beds: 4      Fin Sq Ft: 2061  Baths: 3     Year: 2004  Acres:0.08  # Of Photos Avail: 25 V-Tour Available: Yes MLS #: 6395678  Status: Active  Listing Office: Re/Max Professionals

Broker Remarks:  Don’t Miss Out On This 4 Bedroom, 3 Bath Townhome In Beautiful Castle Rock! The Spacious Family Room Features A Corner G…More…

We receive dozens of inquiries every month from buyers looking for a rent to own home in Denver. When we are contacted by one of these clients, our first question is “Why do you need a Rent-To Own Home?”

There are legitimate reasons for buying a home using a Rent-To-Own option, and we want to educate you on when to use these programs, and when another alternative may be a better option for you.

While a Rent-To-Own home can be a good solution in many situations, here are the circumstances where they work the best:

• Recent Bankruptcy / Foreclosure: If you have had good credit in the past, but recent events have caused traditional lenders to reject you, a Rent-To-Own option may be the ideal solution to help you get into the home you want now whiel rebuilding your credit so you can qualify for a mortgage in the near future.

• Verifiable Income: Are you self employed or recently changed careers? If mortgage lenders can’t count your income for the next 12-24 months, but you need to get into a home now, a Rent to own may be a great option to consider.

• Other Credit Issues: If you have had some credit issues in the past, but are in the process of credit repair, a Rent To Own program can help you get into the home no while you finish repairing your credit.

Again, while these lease option type programs work for many people, they do not fit everyone’s needs. Here are a couple of situations where they are typically not ideal:

• Lack of Down Payment Funds: If the reason you are looking at a rent to own option is lack of immediate funds, you should look at other options. Most rent to own programs require 8%-10% of the purchase price as a down payment due when the lease option contract is executed. Many of these programs allow this money to be returned to you when you buy the property (to be used as your down payment), but it is required as cash up front. If a lack of down payment is the only reason you are considering a Rent-To-Own option, consider one of the many Down Payment Assistance programs in Colorado. Our team can help you with any of these great programs.

• You “Might Want To Buy in the Future”: If you are looking for a place to rent, but simply like the idea of being able to buy if you want to down the road, these are probably not the programs for you. Because of the risk and structure of these programs, rents are typically higher than if you were to simply rent a home. While many times this increase in rent is repaid to you when you do ultimately purchase the home, it is not an extra expense many typical renters need to pay.

For many people, these programs are ideal and allow them the opportunity to get into a home now that they want to buy but are unable to purchase immediately. If you would like more information, you can call our team at 303-726-1874 or view this step-by-step guide to Denver Rent to Own programs.

Denver Area Rent To Own Home Searches: 
Aurora Rent To Own Homes Arvada Rent To Own Homes Brighton Rent To Own Homes Broomfield Rent To Own Homes Castle Rock Rent To Own Homes Centennial Rent To Own Homes Commerce City Rent To Own Homes Denver Rent To Own Homes Englewood Rent To Own Homes Golden Rent To Own Homes Highlands Ranch Rent To Own Homes Lakewood Rent To Own Homes Littleton Rent To Own Homes Lone Tree Rent To Own Homes Northglenn Rent To Own Homes Parker Rent To Own HomesThornton Rent To Own Homes Westminster Rent To Own Homes 

Lakewood homes have been in exceedingly high demand over the past several months. Homes priced under $300,000 are typically staying on the market for mere days before receiving offers. Most of these homes are selling at a premium – specially in the most popular neighborhoods.

This week we were excited to see that HUD had listed a home in the Green Mountain Lakewood homes neighborhood. This area, located just off Kipling and south of 6th Ave, is always in high demand, and foreclosures are a hot commodity here.

As with all Denver HUD homes, this home will be available for owner occupant buyers for a short bidding period, so if this home is one you want to see, contact our team immediately at 303-726-1874. This is an amazing opportunity on a 3 bedroom home!

Green Mountain Lakewood Homes:

HUD Owned Home 335 South Lee Street Lakewood 80226    $204,000.00

Beds: 3      Fin Sq Ft: 971  Baths: 1     Year: 1957  Acres:0.24  # Of Photos Avail: 16  V-Tour Available:  No  MLS #: 7498976  Status: Active  Listing Office: Colorado Home Real Estate

Broker Remarks:  Lovely Ranch Styled Home Located Near Popular Belmar And St. Anthony’s! Hardwoods, Some Updating In Kitchen, Formal Di…More…

Our team has been helping buyers and sellers in the Canyon Ranch Highlands Ranch neighborhood for many, many years. With more Highlands Ranch condos than any other complex, this neighborhood also boasts some of the most affordable prices in the area.

But while these prices are lower than most condos in Highlands Ranch, the average price in the complex is starting to spike and we’ve seen a dramatic increase over the past 6 months.

The chart below shows part of the picture, but it doesn’t show the huge drop in days on market for condos in the area. In addition, the chart does not break down the units by bedrooms. If you were looking to buy a 3 bedroom condo in Canyon Ranch 18 months ago, you may have paid somewhere in the high $150’s. Now, that same unit is selling in the high $170’s!

If you are a buyer looking in this area, don’t wait; prices are still rising as the inventory continues to fall. Conversely, if you are a seller, now may be the best time ever to sell in Canyon Ranch. Give our team a call at 303-817-0209.

Canyon Ranch Highlands Ranch: