The Brian Petrelli Team Blog

At the risk of sounding like a broken record, we are posting a link to another set of incredibly strong market reports for Denver homes.

These reports, as detailed in the Denver Business Journal, show the continuing strength of the market for both Denver homes and Denver foreclosures. We are definitely in a Sellers’ market as inventory continues to decrease.

From The Denver Business Journal:

Two reports detailing the metro Denver single-family resale home market show it continues to improve year-over-year as the number of sales grew, average sales prices increased and the time it took to sell a house dropped more than a month.

The December report from Metrolist Inc., released Monday, shows there were 3,400 homes sold that month, an 8 percent drop from the number sold in November but an 8 percent increase in the number sold in December of 2011.

Average days on the market continued its year-over-year plunge as December’s 73-day average is 32 percent below the 107-day average posted a year earlier.

Metrolist officials said there’s only one way to describe the real estate situation here: a seller’s market.

As always, the numbers for individual neighborhoods vary, so give us a call at 303-726-1874 and we can research the area(s) you are interested in.

There are still some great deals on Denver foreclosures and Denver short sales, but you have to move fast. Make sure your agent is registered with HUD and can bid on all bank owned homes.

Over the weekend, HUD released a very large home in The Meadows Castle Rock homes neighborhood. This home has over 4,000 finished square feet, 5 bedrooms, 4 baths and a 3 car attached garage! One of few Castle Rock foreclosures, This is one of the larger HUD homes you will find and one of the best deals for anyone looking at Castle Rock homes for sale.

Adding further incentive, this home is also eligible for the $100 down payment program being offered on all Denver HUD homes. This allows anyone buying the home with an FHA mortgage to avoid the 3,5% down payment typically required.

We expect this home to receive many bids and sell quickly, so if you ar einterested in this home, give oiur team a call today at 303-726-1874. Bids for owner occupants are due by January 14th.

Castle Rock Foreclosures:

HUD Owned Home 3310 dawn glow way castle rock 80109 $385,000.00

Beds: 5 Fin Sq Ft: 4098 Baths: 4 Year: 2008 Acres:0.24 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1151656 Status: Active Listing Office: the colorado real estate co.

Broker Remarks: hud owned, sold as is by electronic bid. 10 day sealed period ends 1/14@11:59pm cst; bids due daily thereafter. fha #052… more…

Even with the improving market, there are still some great deals available on Castle Rock short sales and foreclosures. Make sure you are dealing with an agent that is registered with HUD and can place bids with all of the banks. Don’t limit your choices!

Call us today at 303-726-1874.

There have been a few new listings for Arvada foreclosures since the first of the year, but this is the first home that caught our eye. This large (2,400 square feet) home is located in the Lamar Height homes area and is priced incredibly well at $185,000.

One of the few Arvada homes with a finished walk-out basement, this home also offers 4 bedrooms, 3 baths, a large backyard and an open kitchen. In addition, like all of the other Denver HUD homes on the market, this house is eligible for the $100 HUD down payment program being offered to buyers using and FHA mortgage.

At this price, we won’t be surprised if this home sell quickly, so if you are interested, give our team a call at 303-726-1874.

Arvada Foreclosures:

HUD Owned Home 6203 w 62nd ave arvada 80003 $185,000.00

Beds: 4 Fin Sq Ft: 2400 Baths: 3 Year: 1958 Acres:0.19 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1151273 Status: Active Listing Office: house2home llc

Broker Remarks: this is a great property in arvada. open kitchen. finished walk-out basement. large backyard with shed. possible hardwoo… more…

The market for Arvada short sales and foreclosures is very competitive. If you are looking at homes, make sure that your agent is experienced with all of the banks and that they are registered to bid on HUD homes. If they can’t help you with HID listings, you are missing out on some of the best Arvada homes on the market.

Call us today for an up-to-date list if homes in the area you are interested in: 303-726-1874.

Several of our agents are working with clients looking at Broomfield homes for sale. We are always keeping our eyes open for good deals on foreclosures in the area. This week, while we were searching for Brandywine Broomfield homes, we came across a new HUD listing in the area.

This is a large, 2,000 square foot home with 3 bedrooms, 3 baths and wood floors. Like all Denver HUD homes, this listing qualifies for the $100 HUD down payment program for buyers using an FHA mortgage. If you are unfamiliar with the neighborhood, Brandywine is located just north of 120th between Sheridan and Lowell.

As with all Broomfield foreclosures, this home will not last long, so if you are interested in seeing it, call our team now at 303-726-1874.

Brandywine Broomfield Homes:

HUD Owned Home 4283 brandon ave broomfield 80020 $216,000.00

Beds: 3 Fin Sq Ft: 2000 Baths: 3 Year: 1997 Acres:0.10 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1150315 Status: Active Listing Office: house2home llc

Broker Remarks: beautiful home ready for your touches. nice open floor plan. large master with full attached bath. back yard with deck a… more…

The market for Broomfield foreclosures and Broomfield short sales is tightening. With more buyers in the market than available properties, bidding wars are not uncommon. Make sure you are working with agents that can bid on HUD homes as well as all other banks (agents must be registered with HUD). Give our team of experts a call today at 303-726-1874.

Our team listed a home in southwest Littleton today. As we were preparing the listing, we pulled up the latest statistics for Littleton homes over the pat 30 days and thought it was worth sharing here.

These numbers reflect all sold single family Littleton homes for the past 30 days. these numbers include regular resales as well as Littleton foreclosures and Littleton short sales. If you would like more specific numbers for a certain area, give us a call at 303-726-1874 and we can run the numbers for you.

Sold Littleton Homes

 Based on information from Metrolist®, Inc. for the period December 2012 through January 2013Note: 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.

The numbers above show that most listing as welling for about 98% of list price in an average of 62 days. However, this can vary wildly between neighborhoods so if you are thinking of buying or selling, give us a call so se can give you the most up-to-date and accurate information available.

Our team is working with several buyers looking at Highlands Ranch homes as well as a few Sellers getting ready to put the Highlands Ranch home on the market. As we were working with these clients, we spent some time researching the latest sold statistics and wanted to share them with you here.

These stats are for the entire Highlands ranch area for the past month. If you would like a detailed list for a particular area, give us a call. When evaluating a home, we like to go back 6 moths for the entire neighborhood and look at sold, active and under contract homes. We obviously don’t have the space for that here, so give us a call at 303-726-1874.

Sold Highlands Ranch Homes

Use the following disclosure: “Based on information from Metrolist®, Inc. for the period November 30th 2012 through December 31, 2012 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 note that these numbers lump together regular sales, Highlands Ranch foreclosures and Highlands Ranch short sales. For details on each sub group, call us today at 303-726-1874.

One of the most sought after complexes by buyers searching for Thronton Townhomes is the Harvard Commons Townhomes complex. This neighborhood is located just off of Colorado Blvd north of 128th Ave and is in an ideal location in the north Denver area.

There have been very few of these units to hit the market recentky, and in fact, this is the only currently active unit. WIth 3 bedrooms, 3 baths and nearly 2,000 square feet, this home is an enormous value at $15,000.

In addition, like all Denver HUD homes, this townhome is eligible for the HUD $100 down payment program for buyers utilizing and FHA mortgage.

Harvard Commons Townhomes:

HUD Owned Home 13066 harrison dr thornton 80241 $150,000.00

Beds: 3 Fin Sq Ft: 1951 Baths: 3 Year: 1998 # of Photos Avail: 1 V-tour Available: No MLS #: 1150153 Status: Active Listing Office: mb denver colorado realty

Broker Remarks: this a two story attached single family home and it has two bedroom on second floor plus a loft, a third bedroom in basement, two full bath upstairs and a half bath on main level, kitchen, dining area, living room, family room in the basement and laundry room upstairs. 1376 square feet of gross living area above grade-information is from the fha appraisal and is deemed reliable but not guaranteed. Status: Active more…

If you are interested in learning more about the market for Thornton foreclosures or Thornton short sales, give our team a call today at 303-726-1874. There are still some tremendous deals available, but you have to move fast and you need an agent that understands how banks work. Also, make sure your agent is registered with HUD and can make a bid on a HUD home for you.

All of our agents are full time agents who keep up with the constantly changing market for Thornton foreclosures. Prices are rising, so if you are interested in buying, contact us today.

For the 10th straight month, the prices for Denver Homes rose – substantially. In October, the prices for Denver area homes increased 6.9% from the same month last year.

We have been reporting for almost a yea that source such as Case-Shiller, Zillow, Metrolist and other independent sources have been showing a consistent, steady increase in home prices.

From the Denver Business Journal:

Denver-area home prices rose 6.9 percent in October from the same month a year ago, the 10th consecutive month that metro Denver posted year-over-year price increases, according to the latest S&P/Case-Shiller Home Prices Index, released Wednesday.

Denver’s index value stood at 134.03 for October, according to data from the closely followed real estate report series from Standard & Poor’s. That index was flat from September’s index value of 134.01.

Seasonally adjusted, Denver prices were up 0.5 percent in October from the previous month.

The peak index reading for Denver was 140.28 in August 2006.

If you have been putting off getting intot the market for Denver homes, DON’T WAIT! Prices continue to rise, and what you can buy today, may not be the same in 3 months.

Similarly, if you have been waiting to put your home on the market because you thought the value wasn’t there, call our team today at 303-726-1874 to see what your home is really worth. you might be surprised. Homes that were previously forced into the Denver Short Sales market may be above water now.

One of the most sought after neighborhoods for buyers looking at Littleton Homes, is the Lakehurst West neighborhood. This great neighborhood is located just south of Bear Creek Lake Park and is a quick walk to Harriman Lake. With easy access to Downtown Denver and the foothills (Highway 285 is less than a half mile away), we have buyers contacting us weekly hoping to find a hoe here.

Currently, the neighborhood has only 2 active listings, however, our team will be listing a new home in the neighborhood in the next couple of weeks, so if you’d like to hear about it first, give us a call at 303-726-1874.

As we are preparing to list this home, we prepared a market report for the area and thought it would be beneficial for those of you who are interested.

If you would like more details on this neighborhood, or any other Littleton homes, give our team a call today!

Lakehurst West Homes Sold Stats Last 12 Months

Based on information from Metrolist®, Inc. for the period December 2011 through December 2012 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.

While our team, and most Realtors, hate the infamous Zillow “Zestimate” (a tool on their site which they admit can be off by +/` 10%), their market analysis is usually more reliable and at least worth a read. Yesterday, a report was released by Zillow detailing Denver Homes and the price rebound the market has experienced over the past year.

According to this report, Denver Homes’ are expected to see an increase in value of $21.4 billion and nationwide, the figure is $1.3 trillion.

The report is detailed in The Denver Post:

The report is worth a read and is just another in a long line of data pointing to not just a market recovery for Denver, but a significant growing market.

If yo ware considering buying in the Denver market, give our team a call. Their are still some good deals on Denver foreclosures and Denver short sales, but as the market heats up, these deals are selling faster and faster.