The Brian Petrelli Team Blog

Again, we’re seeing more real estate reporting entities detailing the improving market for Denver homes. This morning, Zillow released a report detailing both quarterly and yearly gains in the value for Denver homes and they predict that those gains will continue into the next year.

From the Denver Business Journal:

Median home values in Denver increased by 2.3 percent in the second quarter, to $211,300, from the first quarter and by 3.5 percent from a year ago, Seattle-based Zillow reported Tuesday.

Zillow is forecasting Denver home values will increase by 1.6 percent over the next year.

Denver is in better shape than the U.S. housing market as a whole, according to Zillow’s indicators. The median U.S. home value rose 2.1 percent from the first quarter and by 0.2 percent from the second quarter of last year. And Zillow’s forecast for a year out reveals an increase of 1.1 percent.

While Zillow’s numbers can be inaccurate from time to time, this report squares up with all of the other data we have been seeing on both Denver foreclosures and Denver homes.

Inventory continues to shrink and the demand is steadily increasing. Our company is finding it harder and harder to find available homes for our buyers – especially in the Denver foreclosure market. If you are in the market to purchase a home, make sure you are set up on our daily email alerts and our agents are aware of what you’re looking for.

Some of the best deals are only on the market for a day. Many Denver HUD homes go under contract on their first round of bidding and receive several bids.

You can call one of our experts at 303-726-1874.

Every morning our team looks over the newest Littleton foreclosures to hit the market. Very rarely do we find any Ken Caryl Ranch homes among that list. This morning we were surprised to see that HUD listed a home in the Ken Caryl Ranch Townhomes neighborhood. This is great news for any buyers looking in the area, as this townhome is priced at just $128,000!

At over 1,700 square feet, this is one of the largest available Littleton townhomes for under $150,000, plus it is one of only a few in the entire area to be eligible for the HUD $100 down payment program. In addition, this is one of only a few complexes that offers a 2 car attached garage and a basement. THis is a tremendous deal and will absolutely go on the first round of bids.

If you would like more information on this, or any of the other available Ken Caryl Ranch Townhomes, give our team a call at 303-726-1874. We can educate you on the bidding process for HUDs and give you a detailed list of Littleton foreclosures so you can see what similar homes are selling for.

Ken Caryl Ranch Homes:

HUD Owned Home 8007 s culebra peak littleton 80127 $128,000.00

Beds: 4 Fin Sq Ft: 1773 Baths: 3 Year: 1977 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1112831 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 #… more…

Right now, all Denver HUD homes are eligible for HUD’s $100 down payment program for owner occupants. Give our team a call and we can explain the program as well as other finaning programs that you may qualify for.

There are still some great deals available on Littleton foreclosures, but you need to move quickly and you need a team of experts working for you!

A week ago, HUD released two Castle Rock homes for sale eligible for the HUD $100 down program. These Castle Rock foreclosures were not displaying photos on most external real estate websites because of a glitch in the Metrolist system. Late last week, this error was fixed and we wanted to highlight these homes and their pictures here.

Both of the Castle Rock homes are open for bidding and are p[riced incredibly well. If you would like more information, you can click through to our website or give one of our Castle Rock foreclosures experts a call at 303-726-1874.

Castle Rock Homes:

HUD Owned Home 5677 raleigh cir castle rock 80104 $169,000.00	Beds: 3 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: hud owned, sold as is by electronic bid. 10-day sealed bids due by 7/20/12@11:59pm cst; bids due daily thereafter. fha #… more…
		HUD Owned Home 1400 n monument dr castle rock 80104 $177,000.00	Beds: 2 Fin Sq Ft: 1310 Baths: 2 Year: 2002 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1110508 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 2 bed/2bath ranch … more…

At under $180,000 each, we anticipate these homes to sell quickly. This price range has been moving quickly in the south metro area and we expect the same of these home.

As always, you can search all Denver HUD homes on our website.

Over the last few years, there haven’t been many HUD homes that have come available in the Cottonwood Parker Townhomes neighborhood. We’ve helped several clients move into this complex over the years, and the Parker foreclosures that do come up in this complex tend to move very quickly.

HUD listed a larger unit in Cottonwood Parker Townhomes last week for just $170,000. This unit has over 1,700 square feet, 3 beds, 3 baths and a one car attached garage (a rarity in Parker townhomes under $200,000). This home, like all Denver HUD homes, is eligible for the $100 HUD down payment program being offered by HUD. The bids on this home are due tomorrow, so if you have any interest at all, give our team a call today at 303-726-1874 to schedule a showing.

Parker Townhomes:

HUD Owned Home 17145 waterhouse cir parker 80134 $170,000.00

Beds: 3 Fin Sq Ft: 1742 Baths: 3 Year: 2007 # of Photos Avail: 5 V-tour Available: No MLS #: 1108723 Listing Office: high mark realty

Broker Remarks: stunning 3 bedroom 3 bath condo in parker. hardwood floor in kitchen. wall-to-wall carpet throughout. beautiful cherry c… more…

 Several of our agents live in Parker and we can provide you with all of the information you need on Parker townhomes, Parker foreclosures and Parker short sales. Just pick up the phone: 303-726-1874.

In addition, if you are thinking about selling your home, give us a call and we can run a detailed report for your neighborhood. Inventory is incredibly low and your Parker townhome may be able to sell for more than you think!

Over the years, our team has grown and we’ve brought on several agents in the north Denver area who specialize in Commerce City Homes. These agents have been very busy lately and have shows many of our clients some of the great deals currently available on Commerce City foreclosures.

We wanted to highlight a few of the HUD homes that are on the market in Commerce City. Like all Denver HUD homes, these listings are eligible for the $100 down payment program being offered by HUD. If you would like more information on these, or any other Commerce City homes, give our team a call at 303-726-1874 today.

Commerce City Foreclosures:

Located in the highly sought after Reunion Commerce City homes area, this 5 bedroom HUD home has nearly 4,000 of square feet and is an incredibly value!

HUD Owned Home 16650 e 107th ct commerce city 80022 $330,000.00

Beds: 5 Fin Sq Ft: 3895 Baths: 4 Year: 2004 Acres:0.32 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1108438 Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-488279. bid deadline 7/13/12 @ 11:59 pm-daily thereafter. investo… more… Disclosures

Located in the High Pointe neighborhood, this home is an amazing deal – 3,455 finished square feet for just $215,000!

HUD Owned Home 10048 granby st commerce city 80022 $215,000.00 est $

Beds: 5 Fin Sq Ft: 3455 Baths: 4 Year: 2006 Acres:0.16 # of Photos Avail: 5 V-tour Available: No MLS #: 1091962 Listing Office: new & company

Broker Remarks: large home with hardwood flooring, granite tops in kitchen with decorative tile, 5 bedrooms upstairs with loft. not much… more… Click Here For Full Details & Pics Disclosures

As always, if you have questions on Commerce City homes or Commerce City foreclosures, give our team of experts a call at 303-726-1874. We can run reports for specific areas or jus point you in the right direction for the best deals!

More good news to report for Colorado foreclosures this week. This report came out on Friday, but we didn’t have time to post it here. The Colorado Division of Housing linked to the report by LPS (Lender Processing Services) which shows Colorado having the 6th best ranking in the nation for loans that were non-current.

From the Division’s Website:

According to the June LPS Mortgage Monitor , released Monday by Lender Processing Serives, 11.3 percent of mortgage loans during May were “non-current” in the United States. That is, they were 90-plus-days delinquent or were in foreclosure.

In Colorado, the percentage of active mortgage loans that were non-current during March was 6.1 percent, which was down 10.6 percent from the same period last year. Colorado’s year-over-year decline in non-current loans was the 7th largest in the nation. Only Nevada, Michigan, Arizona, California, Montana and Wyoming showed larger declines.

Only five states reported lower percentages of non-current loans than Colorado, making Colorado 6th-best in the nation for the percentage of its mortgage loans that were non-current during May 2012. Montana, Wyoming, South Dakota, Alaska and North Dakota reported lower percentages of non-current loans during May.

We’ve been seeing just about every reporting agency continue to report declining numbers for Colorado foreclosures. This report details the numbers from a different source and shows a more positive outlook from inside the mortgage world.

We will continue to watch the Denver foreclosures and Denver HUD homes specifically as these numbers can vary from the broader Colorado market.

For an up to date report for an area you are interested in, give our team of foreclosure experts a call at 303-726-1874 today.

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Denver Area Foreclosure and HUD House Searches:
Aurora Foreclosures and HUD Homes, Arvada Foreclosures and HUD Homes, Brighton Foreclosures and HUD Homes, Broomfield Foreclosures and HUD Homes, Castle Rock Foreclosures and HUD Homes, Centennial Foreclosures and HUD Homes, Commerce City Foreclosures and HUD Homes, Denver Foreclosures and HUD Homes, Englewood Foreclosures and HUD Homes, Golden Foreclosures and HUD Homes, Highlands Ranch Foreclosures and HUD Homes, Lakewood Foreclosures and HUD Homes, Littleton Foreclosures and HUD Homes, Northglenn Foreclosures and HUD Homes, Parker Foreclosures and HUD Homes, Thornton Foreclosures and HUD Homes, Westminster Foreclosures and HUD Homes

Even more positive news today for prices of metro Denver homes. The year over year increase for home prices in the area show a 10.2 percent increase and the number of REO (Denver foreclosures) has decreased over 4% in the past month. Again, this mirrors what other research organizations have been reporting, but it bears repeating here.

From the Denver Business Journal:

Rising home sale prices in metro Denver for June continued to outpace both the West region and the national average, according to a home price index report by Clear Capital Clear CapitalLatest from The Business JournalsForeclosures in Central Ohio, state soar in first halfBirmingham home prices climb 2.5% in 3QD.C.-area home prices forecast up 7% in 2012Follow this company released Tuesday.

The Denver-Aurora metropolitan statistical area (MSA) saw home sales prices rise by 3.6 percent quarter over quarter in June, according to the Truckee, Calif.-based real estate data company. The index showed a 10.2 percent year-over-year increase in prices, ranking metro Denver 13th in the top 50 MSAs.

Metro Denver’s MSA had climb­ed into the top 10 MSAs, to No. 8, as recently as April with a 2.9 percent quarter-over-quarter growth in home sale prices and a 9 percent year-over-year gain.

The real-estate owned, or REO (foreclosed homes), saturation of the metro Denver MSA stood at 18.3 percent in June, compared to 22.5 percent in May.

While the sales price increase is great, even more encouraging is the report in the decrease in Denver HUD homes and Denver foreclosures. These numbers remain uncertain in the long run, but it is reassuring to see them continuing to decline month after month.

The declining numbers continue to play themselves out in the market with our buyers. This week alone, our team has faced a multiple offer situation on Denver HUD homes. Most end up going for full price or above and tend to receive multiple offers.

If you would like to discuss this report in detail with one of our Denver Homes experts, give us a call at 303-726-1874 today.

Highlands Ranch homes are moving very, very quickly. If you are in the market, we suggest you schedule a showing on this new listing quickly. The home down the street which is the exact same model only with fewer upgrades sold in 1 day!.

This latest offering is a stunning home on Colby Canyon Dr with a main floor master, wood floors on two levesl, plantation shutters throughout, a gorgeous deck, with hot tub and much more. This home is everything you could want and more and it is priced very well.

Highlands Ranch Homes:

10475 colby canyon dr highlands ranch 80129 $489,900.00

Beds: 4 Fin Sq Ft: 3547 Baths: 3 Year: 1996 Acres:0.18 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1109991 Listing Office: mb the brian petrelli team

Broker Remarks: simply stunning! main floor master home with wood floors throughout and in parts of upstairs. stainless steel and granit… more… Disclosures

As with all Highlands Ranch homes and Highlands Ranch foreclosures, listings priced under $500,000 in good shape are moving fast – usually with multiple offers. If you would like to seee this before it’s gone, give our team of experst a call at 303-817-0209. Our office is 5 minutes away and we can meet you there today.

As we keep talking about here, the inventory of Denver homes is at historic lows. Much of this has to do with potential individual sellers not listing their homes, but one of the less talked about issues is the number of builders who put the brakes on building new Denver homes over the past few years.

When the economy and housing numbers started to fall several years ago, many new home builders delayed or stopped plans for new construction. This lack of new inventory has caught up to us and is adding to the low inventory numbers. There was positive news on this issue today.

From The Denver Post:

Again, with banks holding back on many Denver foreclosures and Denver HUD homes, our biggest struggle with buyers right now is a lack of inventory. Hopefully this tend of new builds continues in both Denver and other counties in the Metro area.

As always, if you would like to talk to one of our agents about new homes in your area, give us a call at 303-726-1874.

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Denver Area New Houses
New Homes in Aurora , New Homes in Arvada , New Homes in Castle Rock , New Homes in Centennial , New Homes in Denver , New Homes in Englewood , New Homes in Golden , New Homes in Highlands Ranch , New Homes in Lakewood , New Homes in Littleton , New Homes in Parker , New Homes in Thornton , New Homes in Westminster

Our team is thrilled to announce this great opportunity in the Scenic Heights Arvada neighborhood. This 3 bedroom home is presented by Darcy Truppo on our team, and is located in one of the most sought after areas for buyers considering Arvada homes.

Located just north of 64th Ave west of Wadsworth, this all brick home has amazing potential. With hardwood floors underneath the carpet, a garden level basement with a 2nd family room and mature landscaping, this home is the perfect opportunity for buyers looking to put in a little work and make a good return.

Scenic Heights Arvada Homes:

6415 allison st arvada 80004 $185,000.00

Beds: 3 Fin Sq Ft: 600 Baths: 2 Year: 1966 Acres:0.18 # of Photos Avail: 5 V-tour Available: No MLS #: 1109425 Listing Office: mb the brian petrelli team

Broker Remarks: great opportunity in a great area! a little tlc will bring a lot of return on this all brick home – hardwood floors unde… more… Disclosures

If you would like to speak with our team of experts regarding any of the available Arvada homes, including Aravada foreclosures, give us a call at 303-726-1874. Many of our agents live in the area and we can educate you on all of the differences between traditional sales, foreclosures and Denver HUD homes.