The Brian Petrelli Team Blog

One of the most popular areas for our clients looking at Denver Homes in the Green Valley Ranch neighborhood. This area has been in huge demand over the past few months, and most homes are receiving multiple bids on their first day on the market.

HUD just released a 1,700+ square foot home in the Green Valley Ranch Neighborhood, and it is priced at an incredibly low $140,000! Yes, it needs some TLC, but the upside to this home is enormous! With 4 bedrooms (all on the upper level), 2 baths, formal living and dining area all on a large corner lot, this home has unbelievable potential.

We expect to see multiple bids on this home and would be surprised if it sold at listing price. If youa re interested in seeing this home or would like to learn about the HUD process, call our team today at 303-726-1874. This home will not last long at all!

Green Valley Ranch Homes Denver CO:

HUD Owned Home 5560 flanders st denver 80249 $140,000.00

Beds: 4 Fin Sq Ft: 1741 Baths: 2 Year: 2005 Acres:0.10 # of Photos Avail: 5 V-tour Available: No MLS #: 1171401 Status: Active Listing Office: diamond realty alliance

Broker Remarks: great two story home for a great price in green valley ranch! formal living and dining area, attached two car garage, no… more…

The market for Denver foreclosures is HOT! Especially in the under $200,000 range. If you are serious about finding a great deal on a foreclosure or short sale, call our team today. We are registered with HUD and have experience helping buyers win bids on all types of bank owned homes (Fannie Mae, Freddie Mac, HUD, etc). Let our experience work for you!

It’s the million dollar question: “How many Foreclosures are the banks waiting to list?”

It’s a question we are asked constantly, and the problem is that most answers are anecdotal or sourced from just one asset manager or bank contact at a time. Few actual data studies are done on the subject, so when we see any report detailing the “shadow inventory” of Denver foreclosures or Colorado Springs foreclosures, we pay attention.

Yesterday, The Colorado Springs Business Journal reported on a study done by CoreLogic and the news for Colorado was terrific. According to their data, the amount of shadow inventory in Colorado has dropped by 26% over the past 12 months.

From the Colorado Springs Business Journal:

The amount of shadow inventory in Colorado dropped 26 percent in the 12 months that ended in January, according to a CoreLogic report released today.

The drop was one of the largest declines in shadow inventory in the country and represents a national trend. Shadow inventory includes all delinquent mortgages, those in foreclosure and those homes that have gone through the foreclosure process but aren’t yet listed for sale with a multiple listings service.

The entire article and report is worth a read.

We’ll continue to post any and all reports we find on foreclosures and the shadow inventory that remains had to quantify. In the meantime, all of the data we are seeing is positive and as we have said before, Colorado was one of the first states to enter the foreclosure mess and is consistently showing itself to be one of the first to emerge from it.

The Colorado Springs foreclosures on the market are moving fast – especially the larger homes in the most sought after neighborhoods. The Sunrise Ridge Colorado Springs area is one of those neighborhoods.

HUD just released a large, 2,098 square foot home in the neighborhood and it is priced at just $155,000. While the home does need some work, (flooring, paint etc) the potential for this home is HUGE. In addition to the finished 2,000+ square feet, there is an unfinished walkout basement. Make sure you see this home today as it will not last long.

Sunrise Ridge Colorado Springs:

7695 woody creek dr colorado springs 80911 $155,000.00

Beds: 3 Fin Sq Ft: 2098 Baths: 3 Year: 1989 Acres:0.174 # of Photos Avail: 18 V-tour Available: Yes MLS #: 738624 Status: Active Listing Office: re/max properties, inc.

Broker Remarks: the big question in this charming two story is what will you do with the unfinished walk-out basement? large kitchen has… more…

The market for Colorado Springs foreclosures and HUD homes is competitive. Make sure you are working with an agent registered and approved to make HUD bids. Our team can assist you with all of the foreclosures, HUDs, short sales and more. Just give us a call at 719-641-4209.

In an effort to make sure our clients are seeing the newest listing, we are setting everyone up on daily email alerts for the Colorado Springs homes in the neighborhoods they are interested in. the day a new home is listed, we are

For the 13th straight month, the S&P/Case-Shiller home price index for Denver homes showed an increase in year over year numbers. The latest numbers are for January and show an increase of 9.2% over January of 2012. This is a very significant rise and shows not only the biggest rise since prior to the recession, but also shows the highest overall home prices since October of 2007.

From the Denver Business Journal:

For the 13th straight month, Denver area home sales prices rose in January from a year earlier, reaching their highest level since fall of 2007, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.

Prices were up 9.2 percent in January 2013 from January 2012, the biggest year-over-year rise since before the recession, according to data from the closely followed monthly real estate report series from S&P Dow Jones Indices LLC.

The pace of year-over-year price gains in Denver has been picking up speed for several months. January’s 9.2 percent over-the-year gain for the Denver area followed 12-month increases of 8.5 percent in December, 7.8 percent in November and 6.9 percent in October. (See the table at the end of this report for price trends back to 2010.)

This report compliments every other market report put out this year; the market for Denver homes is on a very strong rebound. The low interest rates in conjunction with many of the home buyer assistance programs (CHFA, Denver and Littleton Home buyer Assistance Program, CHAC, etc), have helped spur many first time buyers into the market.

If you are thinking of buying, now is the time. As this report details, waiting a year can cost you 9% in lost appreciation / buying power. Call one of our agents today to get the ball rolling: 303-726-1874.

Located just off of I-25 and South of Hampden, the Southmoor Park Denver Condo Complex is ideally located for anyone who needs easy access to DTC or downtown Denver. The area itself is in high demand, and few homes are available in the neighborhood.

This unit, recently listed by HUD, is a 3 bedroom, 2 bath home with 2 stories, an attached garage, hardwood floors and the home backs to a greenbelt. At just $160,000 for a home with more than 1,800 square feet, this is a fantastic deal for the area.

Bids are open for owner occupants through March 29th, so if you are interested in seeing this home, make sure you contact us for a showing prior. You can reach our team at 303-726-1874. Remember, not all agents can place bids for you on Denver HUD homes, so call our team of experts today.

 Southmoor Park Denver Condos:

HUD Owned Home 3547 s hillcrest dr denver 80237 $160,000.00

Beds: 3 Fin Sq Ft: 1872 Baths: 3 Year: 1966 # of Photos Avail: 5 V-tour Available: No MLS #: 1169352 Status: Active Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-560950. bid deadline 3/29/13 @ 11:59 pm-daily thereafter. invest… more…

The market for Denver foreclosures is incredibly competitive. Denver condos and townhomes priced under $250,000 are often seeing multiple offers and can sell for more than list price. If youa re interested in learning more about the market, call our team today and we can help you understand HUD homes, foreclosures, short sales and everything in between.

Our team is preparing to list a home in the University Hills Denver Homes neighborhood in the coming weeks. As we prepare our marketing, we ran a recent report detailing the sold homes in the area for the past 6 months. As we have been helping many clients looking in this area, we wanted to make that report available to you here.

While this is a helpful chart, to accurately value a home, you need to look at each homes condition, level of upgrades, etc. This is especially true in a neighborhood such as University Hills. The age of the homes, combined with the vast differences in upgrades and remodels can make valuing a home difficult. If you are considering buying or selling in the area, contact our team at 303-726-1874 so we can run a detailed analysis of the home

University Hills Homes:

Sold

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

Please remember that these statistics account for all home sales – including short sales and Denver foreclosures in the neighborhood. When valuing a home, appraisers prefer to use an apples-to-apples comparison, so grouping all sales together is not an ideal measurement for value. Contact us today for a detailed report on your home.

In this incredibly fast moving market, we’re performing searches for our clients several times a day to make sure we are seeing all of the Littleton foreclosures when they hit the market. Earlier today, we saw this great home in the Columbine Knolls neighborhood.

Located in the south west Littleton area near Ken Caryl Ave and Wadsworth, Columbine knolls is a highly sough after community close to C-470, Chatfield State Park and everything south west Littleton has to offer.

This home offers over 2,800 square feet, 4 bedrooms, 3 baths, wood floors, open floor plan, granite counters and much more than a typical HUD home has. Bids are due tomorrow night by midnight, so if this home interests you, call us TODAY to see it and get your bid in.

As an added incentive, this home qualifies for the recently announced Metro Mortgage Assistance Plus Program offering down payment grants for buyers purchasing homes in Littleton and Denver. Call our team today to get more information on it: 303-726-1874.

Littleton Foreclosures:

HUD Owned Home 7427 s newland st littleton 80128 $292,000.00

Beds: 4 Fin Sq Ft: 2866 Baths: 3 Year: 1973 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1167305 Status: Active Listing Office: aspen real estate

Broker Remarks:  come by and see this gorgeous 4 bedroom, 2.5 bath home today. you will not be disappointed. this is one of those specialhomes where special memories are made with great neighbors. late night cookouts, sleepovers, cars in the driveway, bikes atthe ready, sunny mornings filled with giggles, shady afternoons under a tree with a book…this spacious home is located in agreat neighborhood with award winning local schools. enjoy the wide-open floor plan with a lot of custom builds throughout thishouse. gorgeous wood floors, spacious kitchen with granite counter tops and cherry wood cabinets. at this price it will be gonetomorrow…. more…

We were thrilled to see the announcement today that the Metro Mayors Caucus and the city and county of Denver have launched the Metro Mortgage Assistance Plus Program. This program has been put in place to help promote home ownership for low to moderate income home buyers.

This program is similar to previous programs offered by various government organizations in the past (CHFA, Country programs). However, unlike several of those past programs, the Metro Mortgage Assistance Plus Program’s 4% down payment grant does not have to be repaid by the buyer.

This program can be used to buy any of the available Denver Homes or Littleton homes on the market. Here is a quick look at the basic program details:

• Buyers must have a minimum 640 Credit Score
• Household income limits of $91,100 for 2 or fewer and $103,000 for 3 or more
• 4% Grant towards down payment and closing costs
• 30 year, fixed rate mortgage
• Purchased home must be the buyer’s primary residence
• Buyers DO NOT have to be 1st time home buyers
• May be used on any home in Denver / Littleton including Denver Foreclosures and Littleton foreclosures

If you are considering buying in Littleton or Denver, this is definitely a program you should consider. Give our team a call and we can put you in touch with one of the pre-approved lenders for this program: 303-726-1874.

Also, keep in mind, there are several other low down and buyer assistance programs available. Give us a call and we can help you find the right program for you.

THe competition for Colorado Springs Foreclosures is heating up. Our clients looking in the area are seeing many HUD homes selling faster than they have over the past few months. That is why were are trying to get the word out quickly when the best deals hit the market.

This new listing in the Sand Creek Homes Colorado Springs neighborhood was recently listed by HUD, and at just $175,000, this 5 bedroom home is a fantastic opportunity for the right buyer. With over 2,600 square feet, this large home provides an open family room and kitchen, ample counter space (with an island) and a gas fireplace.

If you are interested in seeing this home before it’s gone, call our Colorado Springs team at 719-641-4209 today and we will schedule a private showing for you. Remember, in order to bid on HUD homes, your agent needs to be registered with HUD.

Sand Creek Homes:

The market for Colorado Springs homes is rapidly picking up. If you are thinking about buying a home, call our team today so we can keep our eyes out for the area(s) you are interested in. The best listings are disappearing fast.

Lone Tree foreclosures don’t hit the market very often. In fact, as of this posting, there are two on the market, and one is already in “Pending” status. The only other available home is this brand new HUD listing on Olympus Cir.

This latest offering from HUD is a 4 bedroom, 2 bath home on a large lot in the Acres Green neighborhood. The home has a partially finished basement, storage shed and a great covered patio. Some work is needed, but at a list price of just $195,000, this is a tremendous deal.

Bids on this home are due by midnight on March 25th and as with all Denver HUD homes, we expext this home to receive a lot of interest and several bids. If you would like to see it, make sure you contact us before the bid deadline at 303-726-1874. We can walk you through the HUD bidding process and help you make a winning bid.

Lone Tree Foreclosures:

HUD Owned Home 78 olympus cir lone tree 80124 $195,000.00

Beds: 4 Fin Sq Ft: 1933 Baths: 2 Year: 1975 Acres:0.21 # of Photos Avail: 5 V-tour Available: No MLS #: 1168492 Status: Active Listing Office: elist realty llc

Broker Remarks: hud home sold as-is by electronic bid only fha case #052-507951. bids for eligible bidders due on or before 03/25/13 @ 1… more…

The market for Lone Tree homes is very competitive right now – especially for homes priced below $300,000. If you are in the market, make sure you are set up on our daily email alerts so you don’t miss any of the new homes when they hit the market. most homes in this price range are receiving 5-10 showings in the first 24 hours.