The Brian Petrelli Team Blog

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.

In years past, most investors concentrated on the profits to be made on Denver Investment Properties by focusing on Denver Fix and Flip homes. The margins were there and the high number of available foreclosures combined with the rapidly appreciating real estate market made the fix and flip model work.

However, savvy investors have switched their focus over the past few years, and now successful investors are focusing on “Buy and Hold” Properties. While there are still a good number of Denver foreclosures available, many investors are taking advantage of the high rental rates caused by the declining vacancy rate.

The Colorado Division of Housing blog had a great post on this on Friday outlining some of the most important numbers. The current vacancy rates are at 2% and average rates have steadily climbed. The entire post is worth a read (linked above), but the most important graph is here:

For the high number of home buyers whose homes have been added to the list of Denver foreclosures, they still need a place to live. With a foreclosure on their credit, they can’t buy a home so they are forced to rent. You can see this reflected in the chart with rental rates inversely proportionate to the foreclosure crisis numbers.

Keep in mind, most of these buyers will not be able to purchase a home for years after a foreclosure, so the renatal demand should remain strong.

If you would like to talk to our team about Denver Investment properties, Denver foreclosures or have any other questions about Denver Distressed Properties, you can reach us at 303-726-1874.

Also, while much more difficult to find, we are still helping clients with Denver fix and flip homes. We’re closing on a great successful fix and flip this month and have others in the process.

More great news is being reported today on Denver Luxury Homes. While the market for homes over $1 million has been improving over the past year, the dramatic increase of 38% in August 2012 over August 2011 is staggering.

The Denver Business Journal has the details:

The number of metro-Denver homes with a price tag of $1 million or higher that sold in August jumped dramatically from the same month a year earlier, according to a Coldwell Banker Residential Brokerage report released Friday.

There were 73 luxury homes sold in the metro Denver area last month, a 38 percent surge over the 53 luxury homes sold in August 2011, the report states.

The market for Denver homes has been increasing for over a year now, but the Denver Luxury homes market typically lags behind the market in general. t is incredibly encouraging to see numbers like this in the high end market.

With the inventory of Denver foreclosures declining and the buyer demand surging, the local market is poised for a substantial recovery.

If you would like market stats for your specific area, give our team a call at 303-726-1874 today.

Over the past several years, the Southglenn area has gone through a huge transformation. The old mall was removed, and in it’s place is one of the premier outdoor malls / entertainment areas in the metro area. This incredibly transformation has increased home buyer interest in the surrounding area and has directly impacted the value of all of the Southglenn homes for sale.

This week, HUD released it’s only Centennial homes for sale. This Southglenn home is just a blocks away from the mall area, and offers easy access to all the area has to offer.

In addition to it’s fantastic price and ideal location, this home qualifies for the HUD $100 down payment program being offered by HUD for buyers who will occupy the home. We expect this home to move quickly, so if you are interested in seeing it, give our team a call at 303-726-1874 today.

Southglenn Homes for Sale:

HUD Owned Home 6611 s high st centennial 80121 $174,000.00

Beds: 3 Fin Sq Ft: 1708 Baths: 2 Year: 1963 Acres:0.23 # of Photos Avail: 5 V-tour Available: No MLS #: 1130526 Listing Office: keller williams dtc

Broker Remarks: great location next to redeveloped southglenn mall. hud owned, sold as is by electronic bid. may be eligible for $100 do… more…

Our team can help you with all of the available Centennial homes for sale and we can educate you on the available Centennial foreclosures that are available. Give us a call at 303-726-1874 today to learn more!

We’ve been talking about the rising prices of Denver homes and the decline in the number of Denver short sales and foreclosures for over a year. Today, another report shows that the trend of rising prices is continuing.

From the Denver Business Journal:

Home prices in metro Denver rose during July from a year earlier, marking the seventh consecutive month for a year-over-year increase, according to the S&P/Case-Shiller Home Prices Index released Tuesday.

Denver-area prices were up 5.4 percent, while a composite index of 20 cities showed a year-over-year increase of just 1.2 percent. Home prices appreciated the most in Phoenix, with a 16.6 percent increase since July 2011.

Much of these rising prices is due to the increased demand and the resulting low inventory of Denver homes. The inventory of available Denver homes, including Denver foreclosures and Denver short sales, has decreased rapidly and we have moved from a strong Buyers’ market to a market where Sellers’ dominate.

If you are considering listing your home, give our team a call. We can educate you on the market and show you how to get top dollar in today’s market: 303-726-1874.

According to a report released yesterday by the Colorado Division of housing, Colorado Foreclosures for August of 2012 showed a 1.6% drop from August of 2011 and fell to a six year low!

If you have been reading our blog, this should come as no surprise to you as the foreclosure filings and foreclosure sales have been declining over the past year. In addition, with the stronger home sales numbers being posted over the past year, many more owners are able to sell their homes as a short sale and avoid the ugly foreclosure process.

The Denver Business Journal sums the report up well:

The number of foreclosure auction sales in Colorado’s metro counties fell to a six-year low in August, and foreclosure filings dropped 1.6 percent from August of 2011, according to report released Thursday by the Colorado Division of Housing.

Foreclosure auction sales in Colorado’s metro counties were down 10.4 percent in August compared with August 2011, falling to 1,341 from 1,497. Over the same period, foreclosure filings fell to 2,287 from 2,325.

There are still some good deals available on Colorado foreclosures, but you hae to move quickly and work with an agent that is familiar with the many bidding processes for different banks and agencies. If you would like more information, give our team a call at 303-726-1874.

If you are facing a foreclosure, give us a call to learn how we sell so many Denver short sales quickly and help homwowners avoid the foreclosure process with no cost to them. You can reach us at 303-726-1874.

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Metro 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

One of the most popular neighborhoods for our buyers in Castle Rock is the Castlewood Ranch Homes area. With homes priced from the high $100’s to the mid $700’s, this neighborhood offers a wide variety of choices for anyone looking at Castle Rock homes for sale.

Yesterday, HUD released a new listing in the neighborhood that qualifies for the HUD $100 down payment program. For buyers looking for a primar6 residence purchasing with an FHA mortgage, you can buy this home for just $100 down.

This house has over 2,800 finished square feet, 4 bedrooms, 3 baths a three car garage and sits on a cul-de-sac. With granite counters, tile floors and many other upgrades, this is not your typical HUD home. As with most Denver HUD homes, this house will move quickly, so if you are interested, call our team at 303-726-1874 to see it today.

Castlewood Ranch Homes:

HUD Owned Home 806 fairdale ct castle rock 80104 $352,000.00

Beds: 4 Fin Sq Ft: 2853 Baths: 3 Year: 2008 Acres:0.29 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1130105 Listing Office: re/max professionals

Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. spacioushome with cul-d… more…

Our team can help you with any of the available Castle Rock foreclosures or any of the available Castle Rock homes for sale. Just give us a call at 303-726-1874.

The current inventory for Littleton short sales, like all Littleton homes for sale, is incredibly low. The Short sales that do come on the market move quickly so you have to act fast if you’re in the market.

Our team listed a new short sale yesterday located in the Quincy Lake Homes neighborhood in the west Littleton area. This home is in great condition, has a three car garage, great looking kitchen and more. And, unlike many of the other Littleton short sales on the market, this home has not damage (holes in walls, missing pipes, etc)

If you would like to see this home, give our team a call as soon as possible. This home will no last long: 303-726-1874.

Quincy Lake Homes:

9736 w swarthmore dr littleton 80123 $295,000.00

Beds: 3 Fin Sq Ft: 2146 Baths: 3 Year: 2006 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1129589 Listing Office: mb the brian petrelli team

Broker Remarks: this is a short sale!! home in very good condition, no damage, 3 car garage, excellent kitchen, beautiful cabinets,main … more…

Many of our team members live in the Littleon area and are incredibly knowledgeable about Littleton homes for sale. Give us a call today at 303-726-1874 and we can help you find the perfect home.

As with most neighborhoods and areas relating to Denver condos, Downtown Denver condos are seeing an increase in sales and a declining inventory – good news for owners.

An article out this afternoon in the Denver Business Journal (subscription required) details the numebrs on several of the most popular buildings in the Downtown Denevr area. From their non-subscriber section:

 Patient owners of four major downtown luxury condominium towers are being rewarded with increasing sales and a dwindling inventory this year.

One Lincoln Park, Spire, Residence XXV and the Four Seasons residences all were built before the Great Recession ravaged Denver’s residential housing market. While they all experienced slower -— or nonexistent — sales in the lean years of 2009 and 2010 and some of 2011, all of the developments have reported strengthening sales numbers in 2012

As with all Denver Business Journal articles, this is worth the full read. If you would like to talk with our team about Denver condos in general or Downtown Denver condos in particular, give us a call at 303-726-1874. We can pull detailed stats for all of the buildings and complexes in the area and help you make the best choice for your next home!