The Brian Petrelli Team Blog

In October, Colorado foreclosures reached the lowest level ever recorded since the Colorado Division of Housing began tracking monthly numbers. The report shows that foreclosure filings were down 55.2% and foreclosure auction sales were down 68.7% compared to the same time last year.

These numbers correspond to what we’ve been seeing all year, but the steep drop was more than many expected to see. It will be worth watching to see what happens with the numbers in January as many banks are hesitant to start proceedings during the holiday season.

As always, we’ll keep you posted here on all the news for Denver foreclosures.

From the Denver Post:

Foreclosure filings were down 55.2 percent in Colorado metro counties during October, falling to the lowest level since the Colorado Division of Housing began collecting monthly totals in 2007, the agency reported Monday.

In addition, foreclosure auction sales in Colorado’s metro counties were down 68.7 percent in October compared with a year earlier, dropping from 1,399 to 438.

During the same period, foreclosure filings dropped from 1,880 to 843.

Foreclosure filings are the initial filings that begin the foreclosure process, and foreclosure auction sales totals are the total number of foreclosures that have been sold at auction at the end of the foreclosure process.

Read more: Colorado foreclosures dive in October – The Denver Post http://www.denverpost.com/business/ci_24598331/colorado-foreclosures-dive-october#ixzz2mXXA5DZK 
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We are excited to announce our team’s newest listing in the Montbello Denver neighborhood. This is a HUGE home that shows beautifully. With 6 bedrooms, 5 baths and over 2,500 finished square feet, it has everything you want. Custom tile and flooring, granite counters in the kitchen, stainless steel appliances, upgraded cabinets and much more.

Outside you’ll find a large double tier slate deck off of the master bedroom, a multi-tiered deck with a hot tub and lighting. This home is amazing. Don’t wait to see it! Call our team today at 303-726-1874 to schedule a private showing before it’s gone.

Montbello Denver Homes:

5170 Granby Street Denver, CO 80239  $259,900.00

Beds: 6      Fin Sq Ft: 2542  Baths: 5     Year: 2000  Acres:0.13  # Of Photos Avail: 17 V-Tour Available:  No  MLS #: 3604347  Status: Active  Listing Office: Mb The Brian Petrelli Team

Broker Remarks:  You Must See This Beautiful Home! This Home Has A Contemporary Custom Home Feel, Finish And Decor With Room For Everyone…More…

A quick note: the official neighborhood for this home is Gateway Village. The neighborhood is in the Montbello area and is located southwest of Parkfield Lake Park and 2 blocks south of the Rocky Mountain Arsenal National Wildlife Refuge. Homes in this area attend Montbello High School.

This is one of the hottest areas for Denver homes and even during the holiday season we expect to see heavy activity, so do not wait to see this gorgeous home!

Every year, the Friday after Thanksgiving brings Main Street in Old Littleton alive. The yearly tradition starts when the sun sets and has Santa rides down main street on the Littleton fire engine, as the street is lit up block by block. Everyone follows behind with lit candles. It’s a lot of fun and has a more “small town” feeling than the downtown Denver holiday lighting.

My family and I were there this year, had hot coco, and took a few pictures. Please excuse the photo quality. I took them myself which explains why I hire a professional photographer to take photos and virtual tours of all of our listings 😉 

As a Littleton native, I can remember driving through Old Littleton several times each year just to drive down the lit up street. If you’re anywhere near Littleton this Christmas season, drive a little out of your way to drive down the main street. It’s worth it.

This HUD offering in the Fallbrook Thornton homes neighborhood is a rare find. Currently, HUD is accepting bids from owner occupants on a daily basis (as opposed to the typical 10 day bid process usually offered on Denver HUD homes).

This is a very large house with over 2,300 finished square feet, 3 beds+ loft, 3 bathrooms, and much more. Granite counters, many upgrades and a full unfinished basement. Walk to nearby parks and shopping and much more.

This home is in good shape and HUD is not offering any repair escrow and no mandatory repair items are necessary to make the home eligible for FHA financing, so if you have been looking for a great deal on a Thornton home, this is your opportunity.

Call our team today to see this home and get your bid in before the weekend!

Fallbrook Thornton Homes:

HUD Owned Home 3574 East 141st Drive Thornton 80602    $298,000.00

Beds: 3      Fin Sq Ft: 2316  Baths: 3     Year: 2007  Acres:0.07  # Of Photos Avail: 25  V-Tour Available:  Yes  MLS #: 1248133  Status: Active  Listing Office: Re/Max Professionals

Broker Remarks:  Spacious Patio Home In The Desirable Fallbrook Subdivision! Low Maintenance Living. The Formal Living And Dining Rooms A…More

Another month, another record set for prices of Denver homes. The most recent report released by S&P/Case-Shiller showed that for a fifth straight month in September, metro Denver home prices reached an all time high. The report, used by many in the industry to compare major metro areas, showed that Denver prices increased 9.9% year over year in December from last year.

This is obviously great news to current home owners, but it continues to send a warning to buyers who are putting off buying a home. We are now consistently seeing a roughly 10% annual increase in home prices. So the home you could buy today for $200,000, will cost you $220,000 in a year. Factor in a possible increase in interest rates, and waiting 12 months could cost you tens of thousands of dollars.

If you are thinking of buying a home, but keep putting it off, give our team a call today at 303-726-1874. There are still grant programs and down payment assistance programs available.

From The Denver Business Journal:

The widely followed gauge of home resale prices in 20 U.S. cities showed Denver-area prices were up 9.9 percent in September from a year earlier, the 21st consecutive month with a year-over-year gain.

Prices had risen 10.1 percent in August from a year earlier.

Denver’s Case-Shiller price index for September was 147.30, meaning that local home resale prices averaged 47.3 percent higher than they were in the benchmark month of January 2000.

The Mile High City’s price index has been breaking records each month since May. The previous high index reading before the latest run-up was 140.28, set in August 2006.

Centrally located in the southwest Littleton area, Columbine Lake Townhomes is located 1/2 mile west of Sante Fe just south of Bowles. This popular complex borders several ponds, is within walking distance of several parks and is across the street from Wilder Elementary School.

This HUD home has been available for about a week and the open bidding period for owner occupants is coming to a close tomorrow night. There is big potential for this townhome as HUD is making a $1,925 escrow available for floor and sewer repairs*. 

With only a small handful of Littleton townhomes being offered by HUD, this home is expected to see a lot of activity. Call our team today to learn more about the bidding process on Denver HUD homes and to learn how you can make this home yours.

Columbine Lakes Townhome:

4511 West Ponds Circle Littleton 80123    $155,000.00

Beds: 2      Fin Sq Ft: 1296  Baths: 3     Year: 1976  # Of Photos Avail: 25 V-Tour Available:  YES  MLS #: 1248121  Status: Active  Listing Office: Re/Max Professionals

Broker Remarks:  Great Opportunity In Columbine Lakes! This 2 Story Townhome Has 2 Bedrooms, 3 Baths And 2 Assigned Carport Spaces. The Main Floor Has Wood Floors And A Living Room With Dining Area. The Cozy Kitchen Features An Eat-In Area With Built-In Cabinetry. The Master With Full Bath And Secondary Bedrooms Are Upstairs And Are Ready For Your Personal Touches. The Basement Holds The Family Room With Wood Burning Fireplace And Wet-Bar. The Full Sized Laundry Room With Hook-Ups Is Here As Well. The Backyard Is Shaded With A Full Covered Patio. Enjoy An Easy Commute To Shopping, And C470. Perfect Way To Grow Some Sweat Equity! 1,296 Square Feet-Information Is From The Fha Appraisal An.More…

*For details on how the HUD repair escrow works, give one of our HUD experts a call.

The availability of Castle Rock foreclosures has been incredibly low over the past few months. The few foreclosures that become available typically have bidder wars and investors usually have cash. This makes it hard for buyers looking to live in the home to compete. This is one of the reasons we were happy to see a HUD home come on the market in the popular Meadows neighborhood in Castle Rock.

As with most Denver HUD homes, investors are prohibited from bidding during the first 10 days and only potential owner-occupants are allowed to submit offers.

This home is a great opportunity with 3 bedrooms, 2 baths and nearly 1,400 square feet. The home boasts a wood floor, oversized back deck, open kitchen and access to Douglas County Schools – all for just $223,000.

We expect to see several offers on this home, so if you are interested, give our team a call at 303-726-1874 today.

The Meadows Castle Rock Homes:

4878 North Bearlily Way Castle Rock 80109    $223,000.00

Beds: 3      Fin Sq Ft: 1387  Baths: 2     Year: 1994  Acres:0.09  # Of Photos Avail: 25  V-Tour Available:  Yes  MLS #: 1249174  Status: Active  Listing Office: Re/Max Professionals

Broker Remarks:  Perfect 2 Story Starter In The Meadows!This 3 Bedroom, 2 Bath Tri-Level Is Ready To Go! Sitting On A Low-Maintenance Lot… MORE…

The always popular Kentley Hills neighborhood in Highlands Ranch is located just north of Wildcat Reserve Pkwy and east of Fairview. This central Highlands Ranch location gives residents easy access to parks (Dad Clark Park is located in the neighborhood), shopping, rec centers and everything that draws people to Highlands Ranch.

The area surronds two high ranking elementary schools (Summit View Elementary and Heritage Elementary) and the homes feed into Mountain Ridge Junior High and Mountain Vista High School. The popular private Valor High School is just minutes away.

The powerful draw of this neighborhood keeps the homes selling quickly. As you can see from the stats below, the median days on market for a home in this area for the past 6 months is just 6 days. Sales prices remain high, with Sellers receiving an average of 98.64% of their asking price.

Currently, there are just two available homes in the neighborhood, so if this is an area that you are interested in, give us a call and we can alert you the day a new listing hits the market.

Kentley Hills Market Stats (Sold):

Based on information from Metrolist®, Inc. for the period June 2013 through Nov 2013 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.

Our team prides ourselves on helping homeowners avoid foreclosures by providing real, competent and compassionate help with Denver Short Sales. While many other agents are hardworking and genuine, we have encountered others in the industry that don’t take the same care. It makes us sick to see people in one of the most financial tragic situations they can face taken advantage of.

That’s why it brings a giant smile to our faces to see justice being served to 9 individuals who targeted distressed homeowners, lenders and banks. These 9 individuals need to be named and shamed and an example made so that those facing short sales in Denver are protected and receive fair representation.

Here’s a brief summary of the scheme from The Denver Business Journal as well as the individuals indicted by a Grand Jury:

Suthers explained another key tactic: “The use of family members or business associates to serve as ‘straw buyers’ who were fraudulently represented to the banks as being arms length purchasers who also had the financial resources to legitimately purchase real estate. At the same time, a member of the enterprise would list the property in order to sell it to an innocent third party buyer, usually for a significantly higher price than the bank had agreed to. The enterprise then relied on the complicit actions of a closing agent at a title company to synchronize two closings to occur on a set schedule, so that the innocent parties in these transactions would remain unaware of the fraudulent activity surrounding the short sale.”

The eight individuals being charged with multiple offenses, including violating the state’s organized crime control act, are:

• Wendy Thomas, 46, of Chicago, previously of Thornton
• Cristina Nicole Smith, 42, of Thornto
• Kurt Smith, 58, of Thornton
• Sheila Gaston, 59, of Elizabeth
• Sheila Giberti, 45, of Broomfield
• Duane Thomas, 44, of Thornton
• Christopher Consol, 43, of Englewood
• Janice Gardner, 46, of Brighton

Under COCCA, if convicted, each could be sentenced to up to 24 years per count.

The ninth charged individual, Joseph Slowey, 47, of Denver was charged with three other felony offenses that were related to the overall scheme.