The Brian Petrelli Team Blog

A fantastic new listing was released by HUD this weekend in Brighton. With the severely low numbers of available Brighton foreclosures, this is a nice surprise for buyers looking in the area. In addition, this home qualifies for the $100 HUD Down payment program!

This 3 bedroom, 2 bath ranch home is close to schools, parks and shopping as well as Highway 85. In addition, it is eligible for both 203k financing and the $100 HUD Down payment program. Whatever your situation, this home has financing options for you.

With the low inventory and this home’s competitive price, we wxpect multiple offers, so if you are interested, give us a call today at 303-726-1874.

Brighton Foreclosures:

HUD Owned Home 718 s 10th ave brighton 80601 $166,000.00

Beds: 3 Fin Sq Ft: 1123 Baths: 2 Year: 1973 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1141264 Status: Active Listing Office: re/max momentum

Broker Remarks: three bedroom home with room to expand in basement-close to parks, schools and shopping with easy access to hwy 85. be s…

If you would like to learn more about Denver HUD homes or Brighton foreclosures, give our team of foreclosure experts a call. We can help you find the right financing program and help you understand the various bidding procedures for different banks. You can reach us at 303-726-1874.

The inventory of Highlands Ranch foreclosures for the past few months has been severely diminished. Because of this low inventory. when a new foreclosure does get listed in Highlands ranch, we typically see multiple offers and homes selling for more than list price.

Because of this shortage of homes, one of the first searches we do every day is for Highlands Ranch foreclosures. This morning, we were excited to see two HUD homes in Highlands Ranch. Both are active and accepting offers. If you are interested in seeing either of these homes, want to learn more about the bidding process on Denver HUD homes, or are interested in learning more about the HUD $100 down payment program, give our team a call at 303-726-1874.

Highlands Ranch Foreclosures:

HUD Owned Home 6764 amherst ct highlands ranch 80130 $230,000.00 est $

Beds: 3 Fin Sq Ft: 2268 Baths: 3 Year: 1988 Acres:0.13 # of Photos Avail: 5 V-tour Available: No MLS #: 1140619 Status: Active Listing Office: envision it sold, inc

Broker Remarks: main floor master bedroom with walk-in closet & master bath w/oval tub. large loft. garden level basement. fenced yard w… more… Click Here For Full Details & Pics Disclosures

HUD Owned Home 86 prairie ridge rd highlands ranch 80126 $250,000.00 est $

Beds: 5 Fin Sq Ft: 2688 Baths: 4 Year: 1982 Acres:0.24 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1140234 Status: Active Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-254751. bid deadline 11/8/12 @ 11:59 pm-daily thereafter. invest… more… Click Here For Full Details & Pics Disclosures

 Our team’s main office is located in Highlands Ranch and we can help you with all of the available Highlands Ranch homes. Just give us a call at 303-726-1874 today.

Years ago, our team helped buyers using every kind of zero down mortgage and down payment assistance programs in Colorado that was available. Over the last several years, the mortgage industry has done away with many of these programs, but contrary to many misconceptions, there are still several programs available to help you buy a home for less than $1,000 down.

We help clients with these programs every month, and we stay up to date on which county, state and federal agencies are offering assistance. These programs can allow many people the opportunity to buy a home that they otherwise could not purchase.

Currently, the following counties are offering Down Payment Assistance in Colorado:

• Arapahoe County Down Payment Assistance Program
• Boulder County Down Payment Assistance Program
• Douglas County Down Payment Assistance Program
• Jefferson County Down Payment Assistance Program

In Addition, state-wide, the following programs are available:

• Colorado Housing and Finance Authority (CHFA) has a program we have used many times offering down payment assistance.
• You can buy any of the available Denver HUD Homes on the market using the HUD $100 Down Payment Program that is currently available.

• Keep in mind, while many of these programs have income limitations, some do not. The HUD $100 Down Payment pogram, for example, only requires that you use an FHA mortgage to purchase a primary residence.

Our team can help you find the right program for your needs. Give us a call toda at 303-726-1874 to learn more.

More good news on the Market for Denver homes. For the eigth month in a row, homes in the Denver area posted a year-over-year increase in sales prices. Compared to August of 2011, August of 2012 showed an increase in home prices of 5.5%.

In addition to the year over year increase, Denver homes continue to show a monthly increase throughout this year with August numbers increasing 0.5% over July of 2012.

These numbers are for single family, resale Denver homes and do not factor in Denver condos. However, this report does include single family Denver foreclosures and Denver HUD homes.

From the Denver Business Journal:

For the eighth straight month, metro Denver posted a year-over-year increase in home prices in August, at a pace that eclipsed all but four of the nation’s 20 largest markets, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.

Denver prices were up 5.5 percent in August from the same month of 2011, the Case-Shiller report said.

Denver prices also rose 0.5 percent in August from the previous month, not seasonally adjusted, and were up 0.2 percent after seasonal adjustment.

If you would like more detailed numbers on the market or specific figures for a specific area, give our team a call at 303-726-1874. Different areas in the Denver area are showing even stronger gains over the past year.

The report shows Denver as the 5th strongest market with only 4 other metro areas showing a strong improvement (Phoenix, Detroit, Minneapolis, and Miami).

The large number of Denver foreclosures that hit the market over the last few years meant more than just downward pressure on home prices for a few years. It also meant that people who owned a home needed a place to live, and with a foreclosure on their credit report, renting was the only option. This has lead to an incredibly low vacancy rate and a huge opportunity for buyers interested in Denver Investment Properties.

In fact, according to a report in the Denver Business journal, vacancy rates are at a 12 year low. This is causing rates to skyrocket across the metro area and investors are cashing in.

Of course, buying Denver Investment Property requires a sizable down payment (typically 20%) as well as a solid financial history. But for those who do qualify, finding distressed Denver homes and buying them as rentals is one of the best investments you can make.

From the Denver Business Journal:

The vacancy rate for metro Denver apartments stood at 4.3 percent in the third quarter, the lowest vacancy rate recorded since the same quarter in 2000, according to the report, which was also released by the Colorado Division of Housing. That vacancy rate stood at 4.8 percent for the second quarter and 4.9 percent for the same quarter in 2011. Except for Douglas County, every county saw average vacancy rate decreases.

“Considering that we were already under 5 percent vacancy, this additional drop is significant,” Ron Throupe, professor of real estate at the University of Denver’s Burns School of Real Estate and Construction Management and author of the report, said in a statement. “Rent growth hit an 11-year high during the second quarter, but there is still enough demand out there to keep filling up units.”

Those rents climbed to an average of $986, up 5.2 percent year over year. Every metro Denver county included in the survey saw rent increases, with the exception of Adams. The biggest rent gain average came in Boulder/Broomfield, which climbed 8.1 percent in one year. Although Boulder and Broomfield are separate counties, they are combined in the report.

Yes, you read that correctly: rental rates are increasing at a rate of 5.2% year over year.

If you are interested in learning more about buying Denver investment properties or learning how to find Denver Distressed Properties (Denver foreclosures and Denver short sales) call our team at 303-726-1874 today.

We receive several calls a week asking about Denver Horse Property. The truth is, finding horse property -particularly affordable horse property – close to the city is difficult. However, this week, HUD releases a listing offering Lakewood Horse Property for under $200,000!

This is truly an amazing opportunity and something we rarely see in the market for Lakewood foreclosures. Very rarely does HUD have property zoned for horse available this close to the center of Denver. This property is located just 3 miles from 6th ave and I-25 and at this price will move incredibly fast.

If you have been looking for Lakewood horse property, you need to call us today to schedule a time to see this home. Lakewood foreclosures under $200,000 are selling quickly. You can reach our team at 303-726-1874.

Lakewood foreclosures:

HUD Owned Home 995 s field st lakewood 80226 $195,000.00 es

Beds: 3 Fin Sq Ft: 2010 Baths: 1 Year: 1953 Acres:0.37 # of Photos Avail: 5 V-tour Available: No MLS #: 1137917 Status: Active Listing Office: coldwell banker residential 24

Broker Remarks: bringing a little country into the city. looking for horse property in lakewood? spacious brick ranch located on huge co… more…

This home, like all Denver HUD homes qualifies for the $100 HUD down payment program being offered on all HUD foreclosures. Call our team to get all the details on how you can take advantage of this amazing program: 303-726-1874.

Some more good news for the Denver housing market was released by RealtyTrac yesterday. According to their 3rd quarter foreclosure market report, Denver foreclosures fell by 14.6% in the 3rd quarter of 2012 when compared to the 3rd quarter of 2011.

While this isn’t a surprise to anyone who has been reading our blog over the past year, it’s worth pointing out that the number of Denver foreclosures continues to fall – not just year-over-year, but also on a monthly basis. These numbers are paralleling the overall decrease in Denver homes for sale we are seeing every month.

From The Denver Business Journal:

The Denver metro area ranked 55th out of the nation’s 212 largest metro areas in foreclosure activity in the third quarter, according to RealtyTrac’s Q3 2012 Metropolitan Foreclosure Market Report released late Wednesday MDT.

Metro Denver’s foreclosure rate fell 14.6 percent in the third quarter from the same period a year ago, to one out of every 185 housing units. The metro area’s Q3 foreclosure rate was a 4 percent increase from the second quarter, however.

Nowhere is this decrease in Denver foreclosures more evident than in the market for Denver HUD homes. With the re-introduction of the $100 HUD Down payment program in Denver late last year, the competition for Denver HUD homes has been intense. Most HUD homes are seeing multiple bidders and are going off the market the first day that bids close.

If you are interested in learning more about the market for Denver foreclosures or Denver HUD homes, give our team of experts a call. You can reach us at 303-726-1874.

There are still some fantastic deals available on foreclosures, but you have to move quickly and have an experienced foeclsure agent working for you!

With the continuing availability of the $100 down payment program on all Denver HUD homes, we’ve been seeing most HUD homes sell incredibly fast. We expect that to be the case with the latest offering in the limited market for Castle Rock foreclosures.

This home was just listed in The Meadows Castle Rock neighborhood. This 1,400+ square foot ranch home backs to a greenbelt, has slab granite counter tops and is in good shape. Check out our site for more photos and a virtual tour.

Again, Castle Rock foreclosures are moving very quickly, so if you think this could be the home for you, call us today to schedule a showing at 303-726-1874.

The Meadows Castle Rock Homes for Sale:

HUD Owned Home 3821 dinosaur st castle rock 80109 $224,000.00

Beds: 2 Fin Sq Ft: 1418 Baths: 2 Year: 2006 Acres:0.10 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1137937 Listing Office: the colorado real estate co.

Broker Remarks: hud owned, sold as is by electronic bid. 10-day sealed bids due by 10/28/12 @ 11:59pm cst; bids due daily thereafter. fh… more…

Our team can help you navigate the confusing and ever changing world of Denver HUD homes and foreclosures. The bidding process for each bank can be different and you need a knowledgeable agent in your corner to help you make winning bids. Call our team today at 303-726-1874 to learn more about the process.

We have several agents who live in the Parker area. These agents are constantly helping buyers who are looking for Parker Horse Property for Sale. That’s why we were so excited when this HUD listing came up in the Mountain View Ranch Parker neighborhood.

This home has five acres of land zoned for horses. The home itself has over 1,600 square feet with a walk out basement. All of this for just $270,000! plus, this home qualifies for the $100 HUD down payment program. So save your down payment money for upgrades and make this home your own!

Parker Horse Property for Sale:

HUD Owned Home 3489 green mountain cir parker 80138 $270,000.00

Beds: 3 Fin Sq Ft: 1670 Baths: 2 Year: 1994 Acres:5 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1136157 Listing Office: re/max advanced inc

Broker Remarks: hud owned! case #052-526927. horse property!5 acres! walk out lower level. hud homes are sold as is.more hud homes can b… more…

This is a tremendous deal for a home in Mountain View Ranch Parker and with the additional benefit of the $100 down payment option, we expect this home to sell quickly. If you are interested in this home, or any other Parker foreclosures, call our team today at 303-726-1874.

Our team has experts that can help you find the best Denver horse property to meet your needs. The horse property market is complex and requires a team of agents working for you. Call us today and find out why we’re the best!

There has been some misunderstandings from some of our clients looking at Arvada foreclosures regarding the $100 down payment program being offered on all Denver HUD homes. This program is available for all homes in the Denver metro area and is not confined to the city limits of Denver itself.

This program is an incredible opportunity for home buyers using an FHA mortgage allowing a down payment of only $100 as opposed to the standard 3.5% of the purchase price. This frees up cash for buyers to use on any repairs or upgrades on any of the available Denver HUD homes.

Whether you are looking at Arvada foreclosures specifically, or considering all Arvada homes for sale, this is a program you have to check out. Give our team of experts a call today at 303-726-1874. our team is registered with HUD and can e xplain to you the process of bidding on HUD homes as wells as how the $100 down payment program works.

There are currently 2 active Arvada foreclosures that qualify for this program. If you would like to be added to a daily email alert so you are notified when new listings become available, call us now at 303-726-1874 and we will get you set up.

Here is the newest Aravada Foreclosure that qualifies for the program. This HUD home was listed on Friday:

HUD Owned Home 12034 w 85th ave arvada 80005 $270,000.00

Beds: 4 Fin Sq Ft: 2212 Baths: 3 Year: 1992 Acres:0.12 # of Photos Avail: 1 V-tour Available: No MLS #: 1137838 Listing Office: mb denver colorado realty

Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. beautiful 2 story 4 bed… more… Disclosures

Our team can help you with all of the available Denver HUD homes and Denver foreclosures. In addition, our experience Denver Short Sales team can help you evaluate all of your options on the short sale market. Call us today: 303-726-1874.