The Brian Petrelli Team Blog

Some more good news for the Colorado housing market was released this week with details on Colorado foreclosures. According to the latest report from the Colorado Division of Housing, year-over-year foreclosure sales for metro counties in August of 2013 were down 59.7% when compared to August of 2012.

The complete report can be seen here, and details the difference between foreclosure filings and sales and provides charts detailing the incredibly low number of foreclosures compared to years past. a key bit:

During August 2013, foreclosure filings were down, year over year, and foreclosure filings were also down and remained near 7-year lows. Foreclosure sales at auction also remained near 7-year lows.

August 2013 foreclosure filings were down 54.7 percent from August 2012, dropping from 2,287 to 1,037, year over year.

August 2013 foreclosure sales (completed foreclosures) were down compared to August 2012 with a decrease of 59.7 percent, dropping from 1,341 to 541, year over year.

For the first eight months of the year combined, foreclosure filings were down 46.7 percent in 2013 compared to the same period last year. There were 17,197 foreclosure filings during the eight months of 2012 and 9,171 during the same period this year.

Foreclosure auction sales were down 35.0 percent comparing the first eight months of 2013 to the same period last year. There were 8,541 foreclosure sales during the first fivemonths of last year and 5,553 during the same period this year.

These numbers correspond to the numbers we have been seeing in other sources for Denver foreclosures over the past several months. Again, as we are fond of saying, sales for each neighborhood can be different.

For a detailed list on foreclosures for your area, contact us today. There are still some areas that are underwater providing opportunities for buyers looking for Denver short sales as well.

Our team is excited to announce our newest listing in the Club Crest Arvada neighborhood. Locates a block from Standley Lake, this great home is walking distance to several parks, ponds and provides easy access to I-25.

Inside, you’ll find a great two bedroom home (converted from a 3 bedroom to create a large master bedroom) with well over 1,200 finished square feet, a garage with a workshop (including 220 volt outlets) a fireplace and much more. The back yard has an expansive covered patio and a dog run. Priced right at just $220,000, we expect this home to receive lots of activity.

Club Crest Arvada Homes:

If you would like more information on this, or any other Arvada homes, contact us today at 303-726-1874. We have agents in the area that can show you any of the available homes today.

We’re excited to announce our newest listing in the Thornton Valley homes neighborhood. This great 5 bedroom, ranch home has a finished basement, plenty of updates, large kitchen and a room addition.

Located about a mile east of I-25, Thornton Valley offers a great location for buyers considering Thornton homes and is a popular location for first time buyers.

Homes in this price range have been moving incredibly fast, so if you are interested in learning more about this fantastic home or would like to see it, give our team a call at 303-726-1874 today.

Thornton Valley Homes:

3530 e 90th plthornton, CO 80229 Thornton valley $180,000.00

Beds: 5      Fin Sq Ft: 2080 Baths: 2     Year: 1964 # of Photos Avail: 19 V-tour Available:  No MLS #: 1237804 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks:        unique home with lots of add-ons & updates! customized large kitchen! finished basement plus room addition gives lots of living area for any home in this price range! beautiful home & garden yard for relaxing/entertaining area!large … more…

The market for Thornton homes has slowed a little, but homes are still taking less than 60 days (on average) to sell, so if you are thinking of buying, make sure you’re working with an experienced agent that can hlp you find the best homes quickly. Contact us today.

There are 8 Parker foreclosures on the market right now, but only one of those homes is a HUD home. This home had been previously placed under contract, but is now back on the market and accepting bids on a daily basis. With the relatively few number of available Parker homes on the market, we expect this home to move fast, especially since it qualifies for all of the HUD incentives.

Located in the Country Meadows Parker neighborhood, this home has nearly 1,896 finished square feet, 4 bedrooms and 3 baths. Priced at just $230,000, the home is priced very well for a home in Country Meadows, so if you are interested, don’t wait. Call our team today to take a look.

Country Meadows Parker Homes:

HUD Owned Home 12558 country meadows drparker 80134  $230,000.00

Beds: 4 Fin Sq Ft: 1896 Baths: 3 Year: 1986 Acres:0.14 # of Photos Avail: 15 V-tour Available: No MLS #: 1225970 Status: Active Listing Office: elist realty llc

Broker Remarks: ***back on market*** hud home sold as-is by electronic bid only fha case #052-630205. bids for eligible bidders due dail… more…

HUD homes in Denver are becoming harder and harder to find. In fact, right now there are only 31 available single family HUD homes in the Denver metro area. If you want to make a successful bid on a HUD home, make sure you’re working with one of our experienced HUD agents. Call us at 303-726-1874 today.

In the entire Denver Metro market, there are only 33 available Denver HUD homes. That number is staggering when you compare it to the number for HUD foreclosures that were available at this time last year. This low inventory means that when a new HUD listing hits the market, the competition is tight and we want to make sure that our clients have the best chance of winning the bid.

The latest HUD to hit the market is this Aurora foreclosure in the Aurora Hills neighborhood. This 3 bedroom, 2 bath ranch home has 1,440 finished square feet, a fenced backyard and a covered carport. Bids for owner occupants are due by October 12 and investor bids are not being accepted until November 1st.

If you would like more information on making a bid on this, or any of the other Aurora foreclosures, give our team a call at 303-726-1874.

Aurora Hills Homes:

HUD Owned Home 366 s revere staurora 80012  $153,000.00

Beds: 3 Fin Sq Ft: 1440 Baths: 2 Year: 1964 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1236842 Status: Active Listing Office: mb cliff johnson realty

Broker Remarks: ranch style, 3bed/2 bath, fenced backyard, central a/c, basement w/sm kitchen area, hud sold as-is. buyer to verify all … more…

The inventory for all available Aurora homes is low. If you are in the market, make sure our team knows so we can set you up on daily alerts of the newest listings. Give us a call today.

The market for Castle Rock homes continues to be hot. We’re still seeing the median number for days on market well under a month and homes are selling for over 97% of their list price.

Prices in Castle Rock continue to be higher than the Metro Denver area at large with a median sales price of $325,000 and an average sales price of $404,717. As a consistent metric, we prefer to use the median, rather than the average, sales prices, because outliers can significantly influence the average price. The numbers below give a perfect example. With a low of $40,000 and a high of $2,800,000, the average calculations can be swung by just a few sales.

These statistics represent the sales of all single family Castle Rock homes for the past 6 months, including Castle Rock foreclosures and Castle Rock short Sales. If you would like a detailed report for a specific neighborhood, give our team a call at 303-726-1874.

Sold Castle Rock Homes:

Based on information from Metrolist®, Inc. for the period May 2013 through October 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.

Finding a Highlands Ranch foreclosure listed by HUD is very difficult this year. We have seen only one or two a month come up and when they do hit the market, they usually sell fast and for well over the initial list price.

This weekend, HUD released a 4 bedroom Highlands Ranch home in the Westridge area near Arrowwood Elementary School. This home has over 2,000 square feet plus a 900 square foot unfinished basement. With a tiled roof, vaulted ceilings and plenty of space, this is a great deal.

Highlands Ranch Foreclosure:

HUD Owned Home 4810 hunterwood dr highlands ranch 80130 $295,000.00

Beds: 4 Fin Sq Ft: 2032 Baths: 3 Year: 1999 Acres:0.11 # of Photos Avail: 19 V-tour Available: No MLS #: 1235535 Status: Active Listing Office: alpine realty

Broker Remarks: this wonderful 2 story has a spacious cathedral ceiling in the front room. the interior is so bright and warm, you’ll ne…

As of this blog post, this home is in the 3rd day of the 10 day bidding period common for all HUD homes in Denver. If you would like more information on submitting bids to HUD, call one of our HUD experts at 303-726-1874

It’s still happening. Another month and another gain for prices of Denver Homes. July marks the 19th straight month that Denver has showed a year-over-year increase in home prices (9.7%) according to the S&P/Case-Shiller report.

This continues to be great news for home owners and seller. However, buyers continue to struggle with the increasing prices and slowly rising interest rates. The latest stats from Metrolist show that we have roughly a 2 month supply of homes on the market. Traditionally, a “balanced” market should have 6 months of supply.

Here is a link to the full article in The Denver Business Journal:

The resale price of Denver-area homes set a new record in July, according to the newly released S&P/Case-Shiller Home Prices Index.

The widely followed gauge of home prices in 20 U.S. cities showed Denver-area prices rose by 9.7 percent in July from a year earlier. That’s the 19th consecutive month Denver has had a year-over-year gain, and the third month for a new all-time high.

Denver’s Case-Shiller price index for July was 145.63, meaning that local home resale prices averaged 45.63 percent higher than they were in the benchmark month of January 2000. The index reached a record 140.98 in May, and set a new record when it hit 143.37 in June.

As always, the values of homes in each neighborhood and city can vary. If you would like us to compile a complete statistical report for a particular area, give us a call at 303-726-1874.

Denver foreclosures and Denver short sales have dropped drastically in many areas, but there are still neighborhoods where values have yet to reach their full potential. Give us a call for a complete breakdown.

We have a great new listing just released this morning in the Columbine Hills neighborhood in Littleton. This gorgeous home has been completely remodeled and shows better than anything in the neighborhood. With 4 bedrooms, 3 baths and over 2,400 finished square feet, this home has it all.

New:

• Roof
• Interior / Exterior Paint
• Furnace
• Water Heater
• Hardwood Floors
• Carpet
• Stainless Steel Appliances
• Granite Counters
• Cabinets
• Tile Floors
• So much more!

This home is one of the best Littleton homes on the market and is going to go quickly. If you are interested in seeing it today, call our team directly at 303-726-1874.

Columbine Hills Littleton:

5718 w ken caryl pl littleton 80128 $349,900.00

Beds: 4 Fin Sq Ft: 2481 Baths: 3 Year: 1971 Acres: # of Photos Avail: 17 V-tour Available: No MLS #: 1233041 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: don’t miss out! completely remodeled! brand new roof, interior/exterior paint. new furnace, new water heater, new hardw… more…

The Columbine Hills neighborhood is located just north of Chatfield State Park and is in the heart of Littleton. Walk to Chatfield as well as several other parks, shopping and more. The foothills are just minutes away and you have all of the charm of the southwest Littleton location.

Don’t wait on this one!

Denver condos priced under $100,000 are in high demand and when they come on the market they sell quickly. Late yesterday, Jacy Bowers on our team listed a great two bedroom unit in the Oak Park Denver complex and we wanted to make sure a feature it here before it’s gone.

Located just south of the Common Ground Golf Course, this popular, gated community is in an ideal location providing easy access to the Cherry Creek area, Downtown Denver and minutes from I-225. The unit itself has new carpet, new paint, tile bathrooms, a/c, and hardwood floors throughout all of the main areas. Make sure you check out all of the photos to see all this home has to offer. 

Oak Park Denver Condos:

10150 e virginia ave denver, CO 80247 $88,000.00

Beds: 2 Fin Sq Ft: 943 Baths: 2 Year: 1980 # of Photos Avail: 15 V-tour Available: No MLS #: 1232371 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: this warm and welcoming garden level unit is ready for it’s new owner! new carpet, new paint, 2 full tiled bathrooms, 2 … more…

If you would like more information on this, or any of the other available Denver condos, call our team today at 303-726-1874. We can schedule a time to show you this great condo today before it’s gone.