The Brian Petrelli Team Blog

The inventory of Castle Rock homes has been painfully low for would-be buyers searching for homes. The number of Caste Rock Foreclosures has been even lower. However, this morning, HUD released another listing in the Founder Village neighborhood.

This is not your typical HUD home. With over 2,700 square feet, 5 bedrooms+ a loft, 3 baths, master suite, gorgeous vaults and more, this home is in very good shape and will receive a lot of attention from buyers interested in the Founders Village Castle Rock area.

As with all Denver HUD homes, there is a limited window to bid on this home (April 6th) and only potential owner occupants may bid. If you are interested in seeing this trulyrare opportunity, call our team today at 303-726-1874 to schedule a showing.

Founder Village Castle Rock Homes:

HUD Owned Home 144 Hampstead Avenue Castle Rock 80104    $305,000.00

Beds: 5      Fin Sq Ft: 2795  Baths: 3     Year: 2000  Acres:0.14  # Of Photos Avail: 22 V-Tour Available:  No  MLS #: 3383600  Status: Active  Listing Office: Keller Williams Realty Downtown

Broker Remarks:  Jewel Of The Neighborhood! This Well Cared For 2-Story In Castle Rock Is A Rare Find. Gorgeous 5 Bedroom, 3 Bath Home! … More…

Prices for Denver homes continue to rise. Yesterday, Case-Shiller released their statistics for January and are showing a 9% increase in prices from the same period a year earlier.

While the Metrolist statistics are more current and very similar to the Case-Shiller numbers, Case-Shiller factors in more sales statistics than just the MLS reporting and is generally considered the standard in the industry.

Here is more information from The Denver Business Journal:

Denver-area home-resale prices rose 9 percent in January from a year earlier, the same year-over-year increase as in December, according to the latestS&P/Case-Shiller Home Prices Index, released Tuesday.

Over a shorter term, Case-Shiller’s index showed Denver prices virtually unchanged in January from the previous month, based on non-seasonally-adjusted data.

It was the 25th consecutive month with a year-over-year gain in Denver prices, according to the closely followed gauge of home resale prices in 20 cities from S&P Dow Jones Indices LLC.

For more detailed information on this report, the overall market, or homes in your neighborhood, give our team a call today at 303-726-1874. Each neighborhood is different and we would be happy to run a report for your home.

Our team has been helping several buyers just this week get prequalified and ready to buy a home using one of the many Down Payment Assistance Programs in Colorado. There are several of these programs that we have access to.

Over the past year, there has been an increase in the number of down payment grant programs being offered by various counties and cities in the metro Denver area. The largest, and most well known of these programs, is the Metro Mortgage Assistance Program currently being offered in Denver and many nearby cities. In addition, to the MMA program, many counties are offering their own grant programs and assistance programs. 

One of the longest running, and most effective programs is the CHAC program. Only certain lenders can help you with this program, but the benefits and advantages are tremendous. We work with a lender who has been doing this program for years and can help you get qualified today.

Take a look at our website where we list the most popular Colorado Down Payment Assistance Programs. Or, if you prefer, give our team a call at 303-726-1874 today and we can help you become our team’s next success story!

The market for Centennial Foreclosures is incredibly tight. In fact, there are only two currently active on the market. One of those homes is a HUD listing released late yesterday in the Fox Hill Centennial homes neighborhood.

With so few foreclosures in the area, investors have been in huge bidding wars for the current active inventory. However, buyers looking for a foreclosure deal to live in are in luck on this home. HUD is only accepting bids from potential owner occupants (no investors) until April 5th.

With nearly 1,600 square feet, this listing is priced very well for the Fox Hill neighborhood. Three bedrooms, three baths, large fenced backyard, wood floors, fireplace and more, this home has it all.

As with all Denver HUD homes, this listing will accept bids for only 10 days, so if you are interested in seeing the home, call our team of HUD approved agents at 303-726-1874.

Fox Hill Centennial Homes:

HUD Owned Home 19940 East Radcliff Avenue Centennial 80015    $222,000.00

Beds: 3      Fin Sq Ft: 1578  Baths: 3     Year: 1997  Acres:0.15  # Of Photos Avail: 21  V-Tour Available:  No  MLS #: 9720852  Status: Active  Listing Office: Keller Williams Dtc

Broker Remarks:  Hud Home, Sold As Is W/No Warranties. Hud Case # 052-334981. Bid Deadline 3/31/14 @ 11:59 Pm-Daily Thereafter. Inves… More…

Centennial Homes in Colorado are moving FAST! If you are in the market, make sure we have you set up on daily email alerts so you don’t miss the best listings when they hit the market!

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: