The Brian Petrelli Team Blog

We’ve been telling you about the $100 HUD Down payment program for the past several months. It’s a great program, but it only works on Littleton foreclosures listed by HUD. For the past few months, their have been very few Littleton homes for sale that have qualified for this program. Yesterday, HUD released one listing in Littleton that will qualify, and it’s a great deal.

This home, listed at $189,000, is the only active, available HUD home in the Littleton area. It has 3 bedrooms, 2 baths and nearly 1,400 square feet. With a two car garage, and a good sized lot, this home is priced very well. If you have been looking at Littleton Homes for sale, you will immediately see the value.

Littleton Foreclosures:

HUD Owned Home 10842 w powers pl littleton 80127 $189,000.00

Beds: 3 Fin Sq Ft: 1376 Baths: 2 Year: 1978 Acres:0.16 # of Photos Avail: 1 V-tour Available: No MLS #: 1142192 Status: Active Listing Office: keller williams dtc

Broker Remarks: hud owned, sold as is by electronic bid. may be eligible for $100 down. no repairs by seller before or after closing. 10… more…

Again, like all Denver HUD homes, this home does qualify for the $100 HUD Down payment program for owner occupants using an FHA mortgage. Our team can explain all of the details on this program. Call us at 303-726-1874.

Many of our team members live and work in the Littleton area. Give us a call today so we can help you find the right home for your needs.

We have several agents on our team who specialize in the north Metro area. At our team meeting yesterday, we discussed a number of the Westminster Condos that have recently come on the market from HUD. With the lack of inventory in recent months, these are some of the best deals to be found.

In addition, these Westminster foreclosures are both 1.) Listed at a great price and 2.) All eligible for the $100 HUD down payment program currently being offered on all Denver HUD homes. This program allows purchases buying their primary residence to buy a HUD home with an FHA mortgage and use only a $100 down payment.

If you would like more information on any of these available Westminster foreclosures, call our team of experts at 303-726-1874. Inventory is moving quickly, so don’t expect these condos and townhomes to be here if you wait.

Westminster Condos:

HUD Owned Home 6871 xavier cir westminster 80030 $122,000.00

Beds: 2 Fin Sq Ft: 1233 Baths: 2 Year: 1984 # of Photos Avail: 5 V-tour Available: No MLS #: 1137884 Status: Active Listing Office: elist realty, llc

Broker Remarks: lots of potential in this 2 bedroom 2 bath condo in quiet community. property has an eat-in kitchen, family room with f… more…

HUD Owned Home 4295 w 111th cir westminster 80031 $130,000.00

Beds: 2 Fin Sq Ft: 1242 Baths: 2 Year: 1985 # of Photos Avail: 5 V-tour Available: No MLS #: 1141385 Status: Active Listing Office: metrowest real estate solution

Broker Remarks: ready set go! great price and great value. 2 bedrooms and 2 baths. walking distance to front range community college. th… more…

Our team can help you find the best deals on Westminster foreclosures and Westminster short sales. There are still some amazing deals ot there, but you need a team of agents that knows how to find them and negotiate on your behalf. Each bank has their own process for submitting ids on these homes, so make sure you are working with an experienced agent. Call us today at 303-726-1874.

Also, no one knows how long the $100 HUD down payment program will be offered for. If you would like to learn more about this amazing program, contact us today.

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.