The Brian Petrelli Team Blog

We have been watching the market for Denver Luxury Homes closly over the ups and downs of the past several years. As we continue to report, the market has been experiencing a consistent upward trend. Every month for the last several month, sales of Denver Luxury homes have posted a year-over-year trend. This month was no different.

From the Denver Business Journal:

In what’s supposed to be a slower time of year for residential real estate sales, luxury homes in metro Denver kept selling strong in September, according to a new report by Coldwell Banker Residential Brokerage.

There were 69 homes, with a price of more than a $1 million each, that sold in metro Denver in September, a 38 percent year-over-year increase. Though that was less than the 74 sold in August, experts attributed that to the seasonal drop-off in sales.

These numbers are very opsitive and bode well for the Denver housing market at large. While there have been several Denver Luxury Foreclosures on the market over the past year, these sales have not hurt the overall sales numbers in the luxury market in general.

The luxury housing market is a completely different animal than the traditional housing market. Homes over the $1 million dollar mark require a different set of skills from an agent. If you would like to talk to one of our experts, call us today at 303-726-1874.

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Like all condos in the Denver area, the inventory of Lakewood condos has been drastically reduced over the past six months. homes under $100,000 in the area are moving very quickly, so if you are interested in this unit, call us today at 303-726-1874.

Presented by Darcy Truppo on our team, this 1 bedroom home has over 600 square feet, a garage and is located on the first floor with absolutely no stairs. This is a highly desirable unit oin the Sunpointe condos community and will sell fast. The complex itself is located near the southwest corner of Jewell and Sheridan and is close to I-25, Sante Fe and Hampden.

Sunpointe Condos:

5706 w asbury pl lakewood, CO 80227 $82,000.00

Beds: 1 Fin Sq Ft: 644 Baths: 1 Year: 1990 # of Photos Avail: 5 V-tour Available: No MLS #: 1136610 Listing Office: mb the brian petrelli team

Broker Remarks: rare opportunity in this quiet community. no stairs, first floor unit – easy in and out. patio looks out to pool. huge… more…

If you would like to learn more about the market for Lakewood condos or are interested in learning about Lakewood foreclosures or Lakewood short sales, call our team of experts at 303-726-1874. There are still some good deals to be found, but you need to move quickly!

The Highlands Ranch homes area has one of the highest demands in the Denver area for homes priced under $350,000. Highlands Ranch foreclosures in this price range come on the market sporadically, and when they do, they are met with dozens of potential buyers and typically multiple bids.

This weekend, HUD released a new listing in The Eastridge Highlands Ranch area. With over 3,000 finished square feet,  4 bedrooms plus a study and several upgrades, this home will not remain on the market for long. In addition, this home, like all Denver HUD homes, qualifies for the $100 HUD down payment program for owners who plan to live in the home as their primary residence.

If you are at all interested in this great deal, call us today at 303-726-1874 so we can show it to you before it is gone.

Highlands Ranch Foreclosures:

HUD Owned Home 9286 s cornell cir highlands ranch 80130 $346,000.00

Beds: 4 Fin Sq Ft: 3154 Baths: 3 Year: 1989 Acres:0.25 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1136173 Listing Office: the colorado real estate co.

Broker Remarks: hud owned, sold as is by electronic bid. 10-day sealed bids due by 10/21 @ 11:59pm cst, bids due daily thereafter. fha #… more…

Our team is full of experts on Denver HUD homes and Denver Foreclosures. Call us today to learn about qualifications, bid processes and more. It takes a registered agent with HUD to make HUD bids, but beyond that, you want someone on your side who understands the process and can advise you how to make winning bids on Denver foreclosures in this highly competitive market.

You can reach our team of experts at 303-726-1874.

Some big, positive numbers for Colorado foreclosures came out today from RealtyTrac. According to their report, the number of properties in Colorado with foreclosure filings in September fell over 20% from September of 2011. In addition, the month-over-month nuber fell nearly 8%!

While these number corespond with other reports, these are HUGE improvements and support what we have been saying for over a year: the Colorado housing market, including, but not limited to Colorado foreclosures, is in a slow, steady climb.

From the Denver Business Journal:

The number of Colorado properties with foreclosure filings fell 20.3 percent in September from the same month in 2011, and was down 7.9 percent from August, according to a monthly report Thursday from RealtyTrac Inc.

The state had 3,869 properties with filings last month, or one out of every 572 housing units statewide, said RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

RealtyTrac ranked Colorado eighth among the 50 states for its foreclosure filing rate in September.

The market for Colorado bank owned homes and Denver HUD homes continues to be in constant change. If you would like information on a certain area or have specific questions, give our team a call at 303-726-1874. We can provide you an up to date list of homes and set you up on daily email alerts so you don’t miss any of the great opportunities that are only on the market for a day or two.

Incredibly, of all of the Lakewood foreclosures available, only three of them are HUD homes eligible for the $100 down payment program being offered by HUD. That’s right, of the 23 total single family Lakewood foreclosures, only 3 of them are HUD homes.

With the current high demand for homes under $250,000 combined with the high popularity of the $100 down payment program being offered on all Denver HUD homes, the lack of available inventory is hitting current buyers hard. If you are interested in seeing any of the three available HUD homes in Lakewood, call us today at 303-726-1874. these homes will not last long!

Lakewood Foreclosures:

HUD Owned Home 1935 yukon st lakewood 80214 $112,000.00 es

Beds: 3 Fin Sq Ft: 1168 Baths: 2 Year: 1943 Acres:0.28 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1132589 Listing Office: house2home llc

Broker Remarks: large lot with mature landscaping. bring your tools. foundation and/or structural inspection recommended by appraiser. c… more…

HUD Owned Home 825 lewis dr lakewood 80215 $135,000.00

Beds: 3 Fin Sq Ft: 1230 Baths: 1 Year: 1953 Acres:0.23 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1128502 Listing Office: re/max professionals

Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. this 3 bed/1bath ranch … more…

HUD Owned Home 12469 w atlantic ave lakewood 80228 $190,000.00 est $

Beds: 1 Fin Sq Ft: 1696 Baths: 3 Year: 1976 Acres:0.25 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1106087 Listing Office: re/max professionals

Broker Remarks: property may be eligible for fha $100 dollar down payment program! hud home sold `as is`-electronic bid only fha case #0… more…

Our team can help you with all of the available Lakewood short sales and foreclosures. The market is moving quickly, so if you want to get in on the amazing low rates and relatively low home prices, call our team today at 303-726-1874.

We can explain the $100 down payment being offered on Denver HUD homes as well as other no down and low down payment options.

Some more encouraging news regarding Denver Homes was just released from Meltrolist. According to their latest statistics, the number of Denver condos and single family homes sold in the Metro area increased by 18% from September of 2011.

While the number of sales was down in September 2012 from August of 2012 ( a seasonal consistency across many years of data) the overall data was ahead of historical trends.

From the Metrolist website:

The latest data from Metrolist®, the largest real estate multiple listing service (MLS) serving Colorado real estate agents, show a continued strong real estate market in the Denver metro area.

According to the Metrolist report, a total of 3,949 homes and condos sold in September, down from the previous month but well ahead of historical trends. The monthly sales figure reflects the best September since 2008 when 4,265 units were sold.

On a year-over-year basis, September 2012 sales were up a remarkable 18% over 2011. Prices held firm, with the month’s average of $282,305 mostly unchanged from August but up a solid 11% from last year. Average days on the market, an important indicator of the housing market’s health, was reported to be 64 days last month, a dramatic improvement from 105 days the same period last year.

This data shows what similar reports have been showing for the last year. The market for Denver homes is trending upward. This trend spans across both Denver condos and single family homes as well as the market for Denver foreclosures and Denver short sales.

The inventory for all types of housing remains far below the market’s demand and we expext more positive numbers in the coming months. We’ll report it all here.

For details information on a specific area, call our team at 303-726-1874.

Wow, is inventory low! As of today, there are only 9 single family Castle Rock foreclosures in the MLS. Of, there are only three of these Castle Rock homes are HUD homes and are eligible for the HUD $100 down payment program.

If you are unfamiliar with this program, it allows anyone buying Denver HUD homes (and the surrounding areas) to use an FHA mortgage and avoid the traditional 3.5% down payment. As long as you are using the home as your primary residence, you can put just $100 down. If you are interested in getting the full details, call our team at 303-726-1874.

Here are the only three Castle Rock foreclosures eligible for this program right now:

Address	Details	Description
HUD Owned Home 5681 e melody way castle rock 80104 $127,000.00	Beds: 3 Fin Sq Ft: 1054 Baths: 2 Year: 1990 Acres:0.13 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1133678 Listing Office: alpine real estate	Broker Remarks: this home may qualify for the $100 down payment program. super great castle rock location, founders village, quite cul-d… more…
HUD Owned Home 5677 raleigh cir castle rock 80104 $169,000.00	Beds: 4 Fin Sq Ft: 1998 Baths: 2 Year: 2005 Acres:0.15 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1110313 Listing Office: the colorado real estate co.	Broker Remarks: back on the market! hud owned, sold as is by electronic bid. bids due daily@11:59pm cst. fha # 052-504750; fha insurable… more…
HUD Owned Home 3721 sunchase dr castle rock 80109 $366,000.00	Beds: 4 Fin Sq Ft: 2993 Baths: 3 Year: 2003 Acres:0.15 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1127363 Listing Office: diamond realty	Broker Remarks: wow! dont believe this is a hud home? well do, because it is true! this one-of-a-kind home located in the heart of the m… more…

We are experts on Denver HUD homes and can help educate you on the differences between traditional foreclosures and HUD homes. The bidding procedures are much different and you need an agent experienced with all of the major banks. Call us today at 303-726-1874 or check out all of the Colorado Bank owned homes on our website.

Our team is always watching out for the best deals on Denver foreclosures. For the past several months, many of the best deals for buyers are found in the inventory of Denver HUD homes. Right now, not only are there some incredible deals on these homes, but all Denver HUD homes are eligible for the $100 HUD down payment program being offered for buyers who will live in the home as their primary residence!

This is an absolutely amazing deal that can help buyers use the 3.5% down payment they would normally use to buy the house towards other moving expenses and improvements to the home. our team can help you find out more about this amazing program as well as help you with all of the available Denver foreclosures. Just give us a call at 303-726-1874.

Denver HUD Homes:

HUD Owned Home 21455 e 44th ave denver 80249 $153,000.00	Beds: 4 Fin Sq Ft: 2200 Baths: 3 Year: 1993 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1128880 Listing Office: diamond realty alliance	Broker Remarks: wow, you won’t find a better deal in gvr! large home, four beds, three baths, 3 car garage, formal living area, wood flo… more…
HUD Owned Home 4084 fundy st denver 80249 $159,000.00	Beds: 3 Fin Sq Ft: 2331 Baths: 3 Year: 1998 Acres:0.13 # of Photos Avail: 5 V-tour Available: No MLS #: 1132179 Listing Office: envision it sold, inc	Broker Remarks: 3br + large loft, full bsmt for expansion, granite tile ctrs in kit, needs new flooring/paint, covered deck in back, wal… more…
HUD Owned Home 3964 w quigley dr denver 80236 $160,000.00	Beds: 4 Fin Sq Ft: 1728 Baths: 2 Year: 1963 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1132392 Listing Office: aspen real estate	Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. this nice well-maintain… more…

As always you can see all Colorado Bank owned homes on our website or call us for a list:303-726-1874.

Jacy Bowers on our team just listed a 3 bedroom home in the Westlawn Denver homes neighborhood and this one is a beauty!

With nearly 1,400 square feet, this home is one of the few 3 bedroom homes in the neighborhood. It has updated appliances and cabinets, new carpet and a gas fireplace. Your really need to see this home for yourself, so if you have been searching Denver homes for a great buy under $160,000, you need to check this one out.

Call our team today to set up a private showing at 303-726-1874.

Westlawn Denver Homes:

668 s meade st denver, CO 80219 Westlawn $159,900.00

Beds: 3 Fin Sq Ft: 1372 Baths: 2 Year: 1940 # of Photos Avail: 5 V-tour Available: No MLS #: 1133629 Listing Office: mb the brian petrelli team

Broker Remarks: you won’t want to miss this well-kept home with great charm. lovely gas fireplace in the family room, tile throughout, n… more…

If you are not familiar with the Westlawn area, it is located just west of Federal and North of Mississippi. It’s withi walking distance of Huston Lake and Garfield lake and is in the heart of the Denver area.

If you would like to talk to our team about other areas of Denver homes or the market for Denver foreclosures or Denver short sales, call our experts at 303-726-1874.

The good news continues for Denver homes. As with all of the recent reports and news stories, the latest report by CoreLogic shows an 8.6% increase in year over year homes prices. Unlike some reports from months past by different sources, this report includes the effect of prices on Denver distressed properties (foreclosures and short sales). This speaks to both the strength of the housing market as well as the declining impact of Denver foreclosures and Denver short sales.

From the Denver Business Journal:

For the seventh month in a row, average home sale prices in metro Denver increased from the same month last year, according to the CoreLogic Inc. home price index (HPI) report released Tuesday.

CoreLogic’s HPI in the Denver-Aurora-Broomfield area, including distressed sales, increased by 8.6 percent in August from a year earlier.

That’s also a 0.6 percent increase from July’s revised HPI of 8 percent, according to CoreLogic. The company often revises prior month’s HPI as public records data is updated.

Read the etnitre article as it contains some interesting information.

We’ve seen increasing sales and home prices for the past year. With interest rates remaining at record lows and the supply of Denver homes (especially Denver foreclosures) declining, the market is heating up. We’re seeing homes priced under $300,000 sell in less than a week – usually with multiple bids.

To add even more fuel to the fire, HUD is still offering their $100 down payment program on all Denver HUD homes. This allows owner occupants to purchase a HUD home for just $100 down using an FHA mortgage!

If you would like more information on any of this, give our team a call at 303-726-1874 today.