The Brian Petrelli Team Blog

Over the weekend, HUD released a new Littleton foreclosure listing in the popular Westlake Highlands neighborhood. This great neighborhood is located just a short walk to the wonderful Chatfield State park and is close to C-470 and everything the south west Littleton area has to offer.

Homes in this highly desirable neighborhood typically sell between the mid $200’s and the high $300’s, but HUD has this great Littleton home priced at just $215,000! The home itself is a ranch house with wood and tile floors, cherry cabinets, a tile roof, 2 car garage and an open floor plan. This is a fantastic home at an amazing price.

If you are interested in this home, call our team soon, as this home, like all other HUD homes in Denver, will only be available for bids for 10 total days before HUD selects the winning bid.

Also, remember that only HUD registered real estate agents can make bids for you on his home. Call our experts today at 303-726-1874 to learn about the HUD process and to see this home today.

Westlake Highlands Littleton:

HUD Owned Home 8317 s pierce way littleton 80128 $215,000.00 est $

Beds: 3 Fin Sq Ft: 1284 Baths: 2 Year: 2002 Acres:0.09 # of Photos Avail: 8 V-tour Available: Yes MLS #: 1224499 Status: Active Listing Office: alpine real estate

Broker Remarks: great opportunity, ranch home, built by richmond homes in 2002, tile roof, 2 car garage, open and airy floor plan, super great neighborhood, westlake, chatfield heights, chatfield and wadsworth area, great location walk to: chatfield reservoir state park, shopping, hiking and biking trails. … more…

With the record low inventory of Thornton townhomes on the market, every new listing is getting increased attention. Our new listing in The Villages North is completely redone and is worth every but of attention it receives!

This fantastic duplex style townhome has new flooring (wood and carpet), stainless steel appliances, a giant master bedroom with huge walk in closets and a fenced yard. With over 1,500 finished square feet, 3 bedrooms and 2 baths, this home is going to move quickly at the list price of $159,900!

The Villages North neighborhood is located just west of Platte River Trailhead Park between 88th and Thornton Pkwy. Walking distance to several parks and minutes to I-25, this neighborhood is ideally located to take advantage of all that the north Denver area has to offer.

Thonrton homes priced under $200,000 are selling quickly and this home has everything buyers want, so if you’d like to see it, call our team today at 303-726-1874.

Villages North Thonrton Townhomes:

9373 jackson st thornton, CO 80229 $159,900.00

Beds: 3 Fin Sq Ft: 1510 Baths: 2 Year: 2001 # of Photos Avail: 8 V-tour Available: No MLS #: 1224591 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: hurry! hurry! great for homeowner or investor looking for great rental opportunity! these are duplex style with only one… more…

I spent my morning showing some great Patio Homes in Highlands Ranch. All of the patio homes I showed were in a great neighborhood called The Villages. I know this area well – my wife and I’s first home was in this neighborhood and we loved the maintenance free lifestyle it provided while still having a detached, single family home.

Because of the high demand for patio homes in Highlands Ranch, The Villages typically only have one or two homes available at any one time. However, currently there are 4 homes on the market, so I have been able to show my client all of the floor plans and different upgrades.

The Villages was a great home for us, and over the years, I have helped many clients buy in the neighborhood. It has it’s own community pool and also allows you access to all the Highlands Ranch Community Association amenities. In addition, the HOA takes care of your front yard and handles snow removal as well.

All of the homes are situated on a shared cul-de-sac / over sized driveway and the sense of community is always there. If you are interested in learning more about thios great area, or would like information on other Highlands ranch Patio homes, give me a call personally at 303-817-0209.

We’re preparing for a new listing in the Firelight Highlands Ranch neighborhood this week and we wanted to share the most recent sold statistics here. If you are unfamiliar with the area, Firelight is located just south of Wildcat Reserve Pkwy and west of McArthur Ranch Rd. this area is one of the most popular areas for buyers looking at Highlands Ranch homes, and houses in the neighborhood tend to sell quickly – especially in this market.

With prices ranging from the low $300’s to the mid $500’s the neighborhood has homes in the most demanded price ranges and the location is ideal. The Southridge Recreation Center is just south of the neighborhood, and the assigned middle school and high schools are Mountain Ridge and Mountain Vista High – both highly ranked. Depending on the area within the neighborhood, Heritage or Copper Meas are the assigned elementary schools.

The demand for homes in Firelight has been high with most homes going under contract in less than a week. As we prepare to list our latest home, we can keep you informed of the listing date and listing price as we know more. Simply call us at 303-726-1874.

 Firelight Highlands Ranch Sold Homes:

Based on information from Metrolist®, Inc. for the period March 2013 through August 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.

Falcon Hills in Highlands Ranch is one of the premier gated communities in the area. With its own private community pool, large lots with gorgeous homes and its ideal location off of University near c-470, Falcon Hills remains one of the most sought after luxury neighborhoods in the Highlands Ranch area. This established neighborhood offers amazing views of the city and mountains and its mature lots offer fantastic landscaping and large trees.

In addition to it’s own community pool, Falcon Hills is part of the Highlands ranch Community Association and owner have access to the Highlands Ranch Recreation Centers and all the community events provided by Metro Districts.

Below you’ll find the last 12 months of sold statistics for the neighborhood. This data is always changing, so if you would like more up to date numbers, contact our team at 303-726-1874.

Falcon Hills Highlands Ranch Sold Homes:

Based on information from Metrolist®, Inc. for the period September 2012 through August 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.

One of our investor clients recently used us to purchase a home in Highlands Ranch. The home is cleaned, painted and ready to rent and the owner will be holding an open house for renters to see the home tomorrow, August 22, 2013 from 3-6. 

We want to make it very clear that we are in no way involved in the rental or property management of this home, but we wanted to help our client (and you) out by posting the information here. With the rental market so competitive, we know some of you are having trouble finding a home.

Here you are:

10517 S Hyacinth Pl

Highlands Ranch, CO 801289

Open House Thursday, August 22, from 3p.m. – 6p.m.

Monthly Rental Rate: $1,895

Beds: 4

Baths: 3

Finished Square Feet: 1,787

Our team is working on a couple of new listings in the Ken Caryl Ranch area. In our process of preparing to get the homes on the market, we researched the sold statistics for the past six months and we wanted to share them here.

If you are unfamiliar with the area, Ken Caryl Ranch is one of the most highly sought after areas for high end buyers in the market for Littleton homes. The area sits at the base of the foothills and offers unparalleled views, a fantastic community and easy access to everything southwest Littleton has to offer. With easy access to C-470, the area offers easy commutes to the tech center, downtown Denver and is minutes to I-70 and the mountains.

We have several members of our team that live in the neighborhood, so feel free to call us with any and all questions!

Ken Caryl Ranch Sold Homes:

Based on information from Metrolist®, Inc. for the period February 2013 through August 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 does a lot of work in the Green Valley Ranch neighborhood. We have several buyers we are working with right now who are looking in the area and we are watching the market daily for new homes. Today, HUD released a new foreclosure in the neighborhood and we wanted to mention it here.

This new offering is similar to most HUD listings in Denver in that there is a 10 day bidding period for buyers looking to purchase the home as their primary residence. The bidding on this home ends midnight on August 29th. This spacious home offers nearly 1,900 square feet, 3 bedrooms, 3 baths and a 3 car garage. The home has a spacious layout and is priced incredibly well at $209,000.

As with most Denver foreclosures, we expect to see multiple bids on this home. If you are interested in learning about the bidding process on Denver HUD homes, or would like to see this home before it’s gone, give our team a call at 303-726-1874.

Green Valley Ranch:

HUD Owned Home 4139 gibraltar st denver 80249 $209,000.00

Beds: 3 Fin Sq Ft: 1873 Baths: 3 Year: 1998 Acres: # of Photos Avail: 25 V-tour Available: No MLS #: 1222787 Status: Active Listing Office: re/max momentum

Broker Remarks: nows your chance to own a great property in green valley ranch. 3 br, 2 1/2 ba 2 story home. additional beds, bath and k… more…

The market for Denver homes and foreclosures is highly competitive. If this is a home you are interested in, make sure you call our team of HUD experts so we can walk you through the process and educate you on how HUD bids differ from other foreclosures.

Some great news for buyers looking at Denver Homes. According to a recent letter sent to mortgage bankers, the FHA has announced it is loosening restrictions regarding past bankruptcies and foreclosures affecting eligibility for mortgages. While the buyer would still need to qualify for the mortgage based on other factors (credit score, income verification, etc), the fact that a buyer has had a bankruptcy, short sale or foreclosure in recent years would not be a factor which would disqualify them from an FHA backed mortgage.

In the past, such negative factors would keep a buyer from qualifying for a minimum of 2 years and sometimes longer. With these new guidelines, buyers will be able to qualify after just 12 months.

From Housing Wire:

Potential homeowners who fell on hard times during the recession are being offered a lifeline back into the housing market, via the Federal Housing Administration.

According to a letter sent to mortgage lenders, the FHA said it would offer mortgage insurance to borrowers who, during the recession, filed for bankruptcy or lost their homes through a foreclosure or short-sale proceeding.

The insurance is now available to those who can prove they are no longer financially compromised — and met all other FHA requirements.

This is great news for so many buyers in the market who have been relegated to renting for several years in order to qualify for a mortgage. If you had one of these negative events occur to you and would like to talk to one of our team members about qualifying now, call us at 303-726-1874.

With all of the down payment assistance programs that use FHA mortgages, this is a huge opportunity for buyers who thought they would be priced out of the market with rising prices and increasing rates over the next few years. Don’t wait to take advantage of this offer by the FHA!

Fannie Mae has been in the news a lot over the past several years. We’ve seen them in the middle of the mortgage meltdown several years ago. We’ve seen articles discussing whether they should be more involved or less involved  in the mortgage markets. We’ve seen the market full of Denver Fannie Mae homes using the HomePath program. We’ve seen just about everything.

This weekend, The Wall Street Journal revealed that Fannie Mae is in discussions to significantly reduce it’s purchases of low down payment mortgages (mortgages with a minimum down payments of 3%):

“Fannie never stopped accepting purchases of loans with 3% down payments, even after lending standards were ratcheted up following the housing bust. But many lenders stopped offering them, in part because they weren’t able to obtain mortgage insurance for those loans, which Fannie requires.

In recent months, however, a series of changes in the mortgage market have led to an uptick in low-down-payment loans available for sale to Fannie. That prompted a review of the company’s lending policies, and officials are said to be working on a plan to limit the company’s purchases of these loans. The changes aren’t being made because of immediate problems with loan performance, according to people familiar with the discussions.”

Currently, FHA mortgages require a 3.5% down payment to buy a home, but the mortgage insurance rates for a low down payment FHA mortgage typically make the overall monthly payment higher than a Fannie Mae backed mortgage with a higher interest rate. These FHA mortgages are easier to qualify for, but the buyers end up paying for it over the 30 year life of the mortgage.

With the recent low down payment and zero down mortgage programs being offered in Colorado, the impact of Fannie Mae scaling down it’s low down mortages may not bpaying for it over the 30 year life of the mortgage.

With the recent low down payment and zero down mortgage programs being offered in e immediately felt. It may take months after anything is down to see the real impact such a move would make on the first-time home buyer market.

We will keep you posted here with information as we receive it.