The Brian Petrelli Team Blog

There is a very interesting article relating to buyers of luxury homes in Denver and what they are looking for in a home purchase. It’s a lengthy article, but with the sales of high end Denver homes rising month over month for over a year, the article has some great insights into the minds of this niche buyer and how to best position your home for a fast sale at top dollar.

Besides the fact that most high end home buyers look at homes as a betetr investment than the stock market, there are survey results specifying exactly what these buyers are looking for.

Some Highlights from the article:

Multiple Properties and Lifestyles: As the real estate market comes roaring back, a new vote of confidence is apparent among luxury buyers. Investing in more than one home has become a trend in today’s luxury market. A majority of luxury homeowners surveyed (53%) prefer owning multiple “lifestyle” homes to support activities like skiing or theater going. In fact, more than half (58%) of luxury homebuyers already own multiple homes to support their lifestyle activities.

Fabulous Lifestyles Meet Fabulous Amenities: Bigger isn’t necessarily better – or more luxurious. In fact, 60 percent of luxury homebuyers surveyed would rather have as many upgrades as they can afford in their home, rather than more square footage. Similarly, nearly all (94%) luxury homebuyers surveyed would be willing to give up 1,000 square feet of living space from their next home in order to get a lifestyle amenity they desire

Wired for Luxury: When it comes to their dream home, a majority (66%) of luxury homebuyers surveyed said a “smart” home is more important to them than a “green” home. When house hunting, 87 percent of luxury homebuyers surveyed would not consider living in a home that isn’t tech-friendly.

The entire article is worth a read and highlights what sets buyers of Denver luxury homes apart from the more traditional market. Denver luxury foreclosures have been disappearing fast, and are almost non-existent in this market as high end buyers are picking up multiple properties.

If you would like to discuss this survey, or your specific housing needs, please feel free to call our team at 303-726-1874.

We’re excited to announce a new listing being presented by Diane Nazminia which will be coming on the market later this week. Located in the Winchester Townhomes neighborhood in Aurora, this well cared for home has 3 bedrooms, 2 baths and both a garage and a carport.

Here are the details:

14386 E. Florida Ave #C, Aurora, CO

Price: $130,000

Beds: 3

Baths: 2

Square Feet: 1,368

Parking: 1 Garage and 1 covered carport

Description: Wood floors, fenced backyard with patio, updated kitchen, custom paint, two stories, gorgeous!

V-tours and more information, click here

The Winchester neighborhood is located south of Mississippi and east of I-225. This area provides an ideal central location offer easy access to Downtown Denver, the Tech Center and DIA. Price at just $130,000, this is one of the best deal being offered on any of the available Aurora Townhomes.

Call our team today at 303-726-1874 to see it before it hits the MLS!

Lakewood foreclosures have been tough to find. In fact, as of this post, there are only 5 single family Lakewood homes which are bank owned or foreclosures. This is a huge drop off from just a year ago and while it’s good news for home sellers, potential home buyers and investors are struggling to find deals.

That’s why we were thrilled when HUD released a new listing in the Green Mountain homes neighborhood this weekend. We immediately sent it off to our clients on our daily email alerts. When we determined that it was not a good fit for our current clients, we wanted to highlight it on our blog to bring attention to this great deal.

This home has 5 bedrooms and 2 baths with over 2,000 finished square feet. It is located across from an elementary school and has many upgrades already completed. As with most HUD homes, this one needs a little work, but the potential upside is big!

If you would like to see this home or talk to our team about alternative financing options )203k financing may be a good fit for this home to help with carpet, etc), call us today at 303-726-1874.

Green Mountain Homes:

HUD Owned Home 12269 w kentucky dr lakewood 80228 $205,000.00

Beds: 5 Fin Sq Ft: 2035 Baths: 2 Year: 1961 Acres:0.20 # of Photos Avail: 15 V-tour Available: Yes MLS #: 1228678 Status: Active Listing Office: house2home llc

Broker Remarks: great location across from the elementary school. hardwood floors and most of the updating already done. finished baseme… more…

The demand for Lakewood homes is high and across the metro Denver area, we’re seeing only a month or two of supply. If you are interested in this home, make sure you contact us today. The bidding period is only open for 8 more days, so you need to move quickly.

The incredibly popular Deer Creek condos complex in Southwest Littleton is one of the most desirable neighborhoods for Littleton condos under $175,000. The amazing foothills view and location combined with the community amenities and atmosphere make this neighborhood one of Littleton’s finest!

Laurie Morrical on our team just listed a beautiful 2 bedroom, 2 bath unit in the complex and it is in pristine condition. With bamboo floors, tile entry, newer paint and carpet and a gas fireplace, this grea condo is not going to last long. Priced at just $162,500, this home boasts over 1,100 square feet and is ready for you to move in today!

If you’d like to see this home, or any of the other available Littleton condos, contact out team at 303-726-1874.

Deer Creek Condos:

8354 s holland way littleton, CO 80128 Deer creek $162,500.00

Beds: 2 Fin Sq Ft: 1134 Baths: 2 Year: 2001 # of Photos Avail: 25 V-tour Available: No MLS #: 1229284 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: perfect!! ready to move in*shows like new*tile entry*bamboo laminate floors*paint,carpet,appliances are less than 1year … more…

The latest numbers are out for sales of Colorado Springs homes and the numbers are big. The latest report shows an increase in the number of sales by 23% year over year and an 8% price increase from this time last year.

Earlier this year, the numbers for Colorado Springs homes had been lagging the greater Denver market, but these numbers show the Springs market catching up.

From the Colorado Springs Business Journal:

The Colorado Springs housing market showed increases in home prices and August sales went up 23 percent compared with 2012.

At $255,728, the price of the average sale of a single-family home went up 8 percent higher than last year, according to figures from Sylvia Jennings of Prudential Rocky Mountain Realtors.

Of course, these are broad numbers and neighborhood and area figures can be different. For a complete report on your area, give our Colorado Springs team a call at 719-641-4209 today.

With the numbers we have been seeing, there ahsn’t been a better time to sell in years, so give us a cll and let us help you figure out if now is the time to put your home on the market.

The August numbers are out for Denver Luxury homes and the news continues to be positive. There was a significant increase in luxury home sales in August compared to the same month last year and the year to date total is up by 42 percent compared to 2012.

The Denver Business Journal has the latest information here:

There were 63 homes with a price tag of more than $1 million sold in August, up from the 49 sold in the same month in 2012.

There was a month-over-month dropoff, however, as there were 85 homes sold in July. But year to date, the volume of luxury homes sold in metro Denver stood at 483 transactions with a total dollar volume of $731,373,341 though August, up 42 percent in both measures from the same period in 2012.

The average sales price in August stood at $1.475 million, up 1.8 percent from the $1.449 average price in August 2012.

While these numbers account for the entire Denver homes market, these numbers tend to be spread evenly over the major sub markets. For example, the activity for Highlands Ranch luxury homes has been high and we are seeing the same thing for most other areas. 

As a reminder, luxury homes are considered any home with a sales price of $1 million or above. It’s a vague classification as a sale for $999,999 would not be included, so if you would like a detailed report for a specific area or price range, give us a call.

We will continue to update you with the latest stats as they come in, but always feel free to contact us with your specific questions at 303-726-1874. 

Several of our agents live, and specialize, in Parker and the surrounding area. Last week, HUD released two new Parker foreclosures. We immediately showed them to our current clients, but these home are not going to work for their needs, so we wanted to make sure and spotlight them on this blog.

If you have been following the market, then you know that Parker homes are moving quickly, and Parker foreclosures are tough to find. Bids on both of the homes are up in a few days, so if you are interested in seeing them, call our team at 303-726-1874 soon. One HUD homes in Denver reach their 10 day bid period, in this market, it is rare that they aren’t picked up by someone.

Homes in The Pinery:

12558 country meadows dr parker 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: hud home sold as-is by electronic bid only fha case #052-630205. bids for eligible bidders due on or before 09/07/13 @ 1… more…

Country Meadows Parker Homes:

HUD Owned Home 6687 cherry creek dr parker 80134 $245,000.00

Beds: 4 Fin Sq Ft: 1914 Baths: 3 Year: 2001 Acres:0.17 # of Photos Avail: 1 V-tour Available: No MLS #: 1226844 Status: Active Listing Office: mb denver colorado realty

Broker Remarks: simply gorgeous 4 bedrooms, 2.1 bath home on a quiet street in a fabulous area. large living room and family room. kitch… more…

The great neighborhood of Marland Denver is located just north of Ruby Hill Park near Louisiana and Tejon. This central location offers easy access to Downtown Denver,  and is only minutes to highway 285 and 6th avenue.

Laurie Morrical on our team has just listed a fantastic 3 bedroom ranch home in this highly sought after area, and we wanted to feature it here. With a gorgeous kitchen, wood floors throughout the home, updated bathroom and a main floor laundry, the inside shines. Outside you’ll have a storage shed, new fence covered patio and a carport. This home is ready for you to move into and at just $199,900, it is not going to last very long.

If you would like to schedule a personal tour of this great 3 bedroom home before it sells, call our team today at 303-726-1874. Denver homes are selling quickly and homes under $200,000 are selling in days, so don’t wait!

Marland Denver Home:

1269 s quivas st denver, CO 80223 Marland $199,900.00 est $

Beds: 3 Fin Sq Ft: 1070 Baths: 1 Year: 1953 # of Photos Avail: 21 V-tour Available: No MLS #: 1227004 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: beautiful kitchen*updated counters,back splash*new appliances*wood floors throughout*updated bathroom*main floor laundry… more…

We are thrilled to announce our newest listing in The Conservatory! Mike Biesboer on our team is listing this home and it is gorgeous – absolutely the finest home in the area and the best home in Aurora under $350,000!

This amazing home sits at the end of a cul-de-sac and is surrounded by green belts, parks, open space, views and more. With a walkout basement, an over-sized 3 car garage and so much more, if you are looking at Aurora homes, this house needs to go on your list. Hurry, before it’s gone!

The Conservatory, Aurora:

The Conservatory is one of the most sought after areas in Aurora and this home highlights everything this great area has to offer. We anticipate this home to move quickly, so if you would like to see it, call our team TODAY at 303-726-1874.

The numbers for Denver homes prices continue to show very positive news. The latest data from RealtyTrac is showing that home prices for the Denver area have increased 2% over just the past month.

This corresponds with what we’ve have been seeing from all other major data sources. Year over year price increases continue to be right around the 10% mark. In addition, the number of Denver foreclosures remains 50% lower than last year and inventory continues to be far below demand.

Always remember that each area and neighborhood is different, so if you would like detailed reports run for your neighborhood or a specific area, call our team at 303-726-1874.

More details from The Denver Business Journal:

The newest report from RealtyTrac reveals the median price of a Denver-area home in July rose by 2 percent from a month earlier, according to Inside Real Estate News.

That increase brought the median to $250,000, which is 11 percent higher than it was a year ago. The national median is $174,500, which is up 4 percent from the prior month and 6 percent higher than July 2012.

The Irvine, Calif.-based company said Denver has the 10th most expensive metro area of the 58 included in the monthly report. Another interesting tidbit from the report: 24 percent of the homes sold in the Denver area during July were all-cash deals.