The Brian Petrelli Team Blog

Not to sound like a broken record, but more numbers came out again showing the continued market improvement for Denver homes for sale. These numbers include the sales numbers for Denver distressed properties.

Today’s Denver Business Journal has the details:

Home prices in metro Denver continued the climb upwards in March, beating both the state and national numbers, according to the most recent home price index (HPI) report from CoreLogic CoreLogicLatest from The Business JournalsCoreLogic: Louisville home prices fall by 0.1 percentReport: Ohio home prices down 3% in MarchAustin home prices up 4.8% in MarchFollow this company released Tuesday.

In the Denver-Aurora-Broomfield area, the HPI increased by 3.5 percent from March 2011. That index included sales of distressed properties.That HPI also showed a greater increase than February’s year-over-year increase of 1.6 percent for all sales, including distressed – which are short sales and “real estate owned” or REO transactions.

The metro Denver area’s index without distressed properties increased 2.3 percent in March, compared to the same month a year ago.

These numbers continue to bolster the growing consensus that the Denver housing market is in the midst of a recovery. In fact, these numbers show a slightly larger recovery than some of the statistics we’ve seen in the past few months.

These numbers are a very strong sign. the fact that they included figures for both standard resales as well as Denver distressed properties (Denver foreclosures and Denver short sales) highlights the point we’ve been making for months: the foreclosure market is getting more competitive and you need to bid quickly and with strong bids.

If you’d like to talk more about Denver homes for sale or any of these market stats, give our team a call at 303-726-1874.

The inventory of Castle Rock foreclosures has been pretty slim over the past few weeks. In fact, of all of the available Castle Rock homes for sale, only 2 of them are listed by HUD.

The newest HUD offering in Castle Rock was released on Friday of last week. This is a large, 4 bedroom, 4 bath home with over 3,200 finished square feet. It is located in Maher Ranch Castle Rock (East of I-25 and north of Founders Pkwy). This home is in great shape for a foreclosure and is only accepting Owner Occupant bids until June 3rd (no investors yet).

This home is eligible for the HUD $100 down payment program and at this price, we would anticipate multiple bids.

Maher Ranch Castle Rock:

HUD Owned Home 1371 baguette dr castle rock 80108 $306,000.00

Beds: 4 Fin Sq Ft: 3217 Baths: 4 Year: 2005 Acres:0.21 # of Photos Avail: 5 V-tour Available: No MLS #: 1090236 Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-491254. bid deadline 5/14/12 @ 11:59 pm-daily thereafter. inves… more… Disclosures

If you are interested in this home, or would like to talk more about Castle Rock foreclosures or any of the available Castle Rock Homes for sale, give our team a call at 303-726-1874. There are still some great deals available, but with the low interest rates and the $100 down payment program available on all Denver HUD homes, you need to move quickly.

Again, we continue to see positive data on Denver homes for sale. Yesterday, Metrolist released it’s April Data and in every category, the year-over-year numbers showed strong improvement. In fact, the only number that was down was inventory – part of the reason many of the other numbers (sales price, sold homes and pending contracts) were up.

From the Denver Business Journal:

Metrolist Inc. Metrolist Inc.Latest from The Business JournalsPinnacol’s strategy, ULA’s rockets, Icelandair’s debut in the new DBJMLS adds ‘green’ info, but will it help sell homes?Denver’s luxury housing market sees strong MarchFollow this company released its April data Thursday — and every category showed year-over year improvement. Inventory was down, sales were up, average sales price was up and the number of pending contracts increased in double digits.

The inventory of homes and condos available for sale held steady from March to April at 10,254, but that’s a steep, 37 percent decline from April 2011.

“We continue to see tight inventory in the market, which means there is about two-to-three months of supply available,” Kirby Slunacker, president and CEO of the Greenwood Village company, said in a news release. “Conditions are favorable and we continue to look for signs of improvement such as continued price appreciation.”

Since the 4th quarter of last year we’ve been reporting on our blog all of the positive numbers in the market for Denver homes for sale. Demand continues to increase, the number of Denver foreclosures for sale continues to decrease and the current inventory continues to be 30%-40% below last year’s numbers.

All of these factors are contributing to the slow, but steady, recovery for home prices in the Denver area. With interest rates still below 4%, there is still time to get a great deal, but the market is definitely swinging from a “Buyer’s Market” to a “Seller’s Market.”

If you’d like more information on Denver homes for sale, Denver foreclosures, Denver HUD Homes or have more questions, give our team of experts a call at 303-726-1874.

Bradbury Ranch Parker is one of the most sought after neighborhoods in the Parker area. The Sellers of our Independence Cir listing informed us this week that they wanted to drop the price by $10,000. This makes the price on this unbelievable home just $379,900!

You have to see this home to believe it, but you can start with the virtual tours on our website. This home has everything you could want and more. Six full bedrooms plus an additional office, granite counters, stainless steel appliances vaulted ceilings and more. The basement is fully finished and has an additional full size kitchen and living area.

At this price, this home is under-priced and in the 24 hours since we’ve lowered the price, we’ve had 3 showings scheduled. So if you’re interested in this home, or just learning more about Bradbury Ranch Parker, give our team a call at 303-726-1874 today.

Bradbury Ranch Parker:

11038 independence cir parker 80134 $379,900.00

Beds: 6 Fin Sq Ft: 4259 Baths: 4 Year: 2001 Acres:0.16 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1076866 Listing Office: mb the brian petrelli team

Broker Remarks: absolute best of the best in bradbury ranch! 6 beds plus an office! all the upgrades: granite, stainless steel, wood, so… more… Disclosures

Several of our team members live in Parker and are incredibly familiar with all of the available Parker homes for sale. Give our team a call and we can educate you on the area and help you navigate the world or standard resales, Parker foreclosures and Parker short sales.

We’ve been helping many of our investment clients capitalize on the drastic increase in renatl rates across the Denver area. By locating the best deals on Denver Distressed properties (Denver foreclosures and short sales), we helped many investors who have previously targeted fix-and-flip homes, focus instead on buy-and-hold-homes.

By taking advantage of the incredibly low interest rates and the steady increase in rental rates, our investor clients have been realizing a great return on the money and a very positive cash flow. The Denver Business Journal recently ran an article detailing the rental increases and the vacancy rate decreases:

Rents at metro Denver apartments jumped 4.5 percent in the first quarter from a year earlier, the biggest year-over-year increase in a decade, according to a report Tuesday from the Apartment Association of Metro Denver Apartment Association of Metro DenverLatest from The Business JournalsGordon Von Stroh, DU professor and apartment analyst, dies at 69Denver-area apartment vacancies hit 12-year low for Q4Cost of renting an apartment climbs in DenverFollow this company .

Average rent for seven counties portion of metro Denver area stood at $952 in the first quarter, up from $911 in the first quarter of 2011, the report stated.

With vacancy rates continuing to drop, the rise in rents didn’t surprise the report authors, which include the Colorado Division of Housing.

If you have considered investing in Denver distressed properties, Denver short sales or Denver foreclosures, or would like to talk to our team of experts on the difference between fix-and-flip and buy-and-hold, give us a call at 303-726-1874. There is a huge opportunity right now for investors who make smart, informed decisions and take advantage of the rental rates and current vacancy numbers.

Some more news late last week on the severely decreasing number of Colorado foreclosures being filed and sold this year. In 2012, Colorado foreclosure filing dropped 40% compared to the same time period last year. This is inline with the overall decrease in inventory we’ve been writing about on our blog for the past several months.

From The Denver Business Journal:

Colorado foreclosure filings and foreclosure auction sales were both down in the first quarter from a year earlier, with foreclosure sales dropping nearly 40 percent in Denver and Douglas counties, according to a report released Thursday by the Colorado Division of Housing.

New foreclosure auction sales statewide were down 25 percent in the first quarter compared with the same period last year, and new foreclosure filings were down 3.7 percent.

The state reported 4,221 foreclosure auction sales, or completed foreclosures, in the first quarter, compared with 5,605 sales reported during the same period of last year.

This declining inventory (of both Colorado Foreclosures and all available Denver homes for sale), is resulting in a severe shortage of available homes for buyers – especially in the under $300,000 price range. We’ve had countless clients over the past few months get forced into a bidding war on a home that would have sat on the market for 6 months or longer just a year agho.

If you are interested in getting a good deal on Colorado foreclosures, there are still great values to be found, but you need to be able to find, and offer on, a home very quickly. We highly recommend calling our team to get set up on a daily alert of foreclosures and bank owned homes so you can be among the first to know when a new home hits the market. You can reach us at 303-726-1874.

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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

Our team’s main office is based in Highlands Ranch and we’re always keeping our eyes out for great deals on Highlands Ranch foreclosures. yesterday, HUD released a new listing bringing the total of Highlands Ranch homes offered by HUD to 3 – an incredibly high number based on past averages.

This newest listing is listed in the Westridge Highlands Ranch area and is a fantastic deal. The home has a 3 car garage, 4 bedrooms plus a loft, 3 baths and over 2,300 square feet. While this home, like the other 3 Highlands Ranch foreclosures offered by HUD, is only available to owner occupants for the first 15 days (not investors), we do expect mulitple offers. So, if you are interested in seeing it, give our team a call today at 303-726-1874.

HUD Owned Home 10126 royal eagle ln highlands ranch 80129 $307,000.00

Beds: 4 Fin Sq Ft: 2342 Baths: 3 Year: 2000 Acres:0.21 # of Photos Avail: 5 V-tour Available: No MLS #: 1086807 Listing Office: westfall & company marketing

Broker Remarks: hud owned*sold as is*nice home in highlands ranch*open floorplan*large kitchen with center island*spacious family room w… more… Disclosures

Our team can help you with any of the available Highlands Ranch homes on the market. Whether you’re interested in Highlands ranch foreclosures, Highlands Ranch short sales, or a traditional sale, let our team of experts help you. You can reach us at 303-726-1874.

We didn’t have time to blog about it yesterday, but some great news came out regarding Denver homes for sale. For the second month in a row, Denver showed a year-over-year increase in home prices. This corresponds with all of the otehr reports and dat we’ve been repeating here, but it’s worth repeating.

From The Denver Business Journal:

For the second straight month, metro Denver posted a year-over-year increase in home prices in February, according to the latest S&P/Case-Shiller Home Prices Index.

Those consecutive gains were the first year-over-year price increases for the Denver area in 19 months, according to the closely-followed monthly report on average home-resale prices from Standard & Poor’s Standard & Poor’sLatest from The Business JournalsFollow this company .

Denver’s February home prices were up 0.5 percent in February from the same month a year earlier, following January’s slight 0.2 percent gain.

The market for Denver homes for sale is hot. We sold two homes this past weekend that we had on the amrket for less than 24 hours! Many of our agents this week were helping clients with Denver foreclosures. On several occasions, our team was forced to get into a bidding war on these foreclosures for our buyers because of the huge demand.

If you are thinking of buying or selling a home in the Denver area, give our team of experts a call so we can make sure you have all of the data and information you need: 303-726-1874.

Our team deals with many Denver short sales each month. This past weekend, Darcy Truppo on our team listed two short sale listings in the Denevr area. Both homes went on the market on Friday and both were under contract by Saturday!

We’ve been reporting on the shrinking inventory of Denver homes for sale over the past several months and the impact that declining inventory is having on the days on market for existing homes. These two sales are only a small fraction of the homes our team has put under contract in less than a week over the past few months. The market is incredibly strong for homes priced under $300,000 in the Denver area.

if you’re thinking of selling your home but are worried about all the negative housing news you’ve been reading, give our team a call and let us run a market analysis on your home. You may be pleasantly surprised at what homes in your neighborhood are selling for. You can reach us at 303-726-184.

Both of these homes Sold after being on the market just 1 day!

Lakewood Short Sales:

1900 dover st lakewood 80215 $245,000.00

Beds: 3 Fin Sq Ft: 2184 Baths: 2 Year: 1926 Acres:0.28 # of Photos Avail: 5 V-tour Available: No MLS #: 1085023 Listing Office: mb the brian petrelli team

Broker Remarks: short sale already approved at $245! totally remodeled with contemporary styling throughout. dramatic windows add lots … more… Disclosures

Aurora Short Sales:

16722 e kentucky ave aurora 80017 $153,000.00

Beds: 4 Fin Sq Ft: 2320 Baths: 3 Year: 1979 Acres:0.21 # of Photos Avail: 5 V-tour Available: No MLS #: 1085190 Listing Office: mb the brian petrelli team

Broker Remarks: motivated seller!! inviting and well-kept tollgate tri-level with a great deck and huge back yard, including a fenced g… more… Disclosures

Remember, each neighborhood is different. Denver short sales in one neighborhood can have a completely different dynamic than Lakewood short sales just a few miles away. Give us a call and let us help you make the best choice when buying your next home: 303-726-1874.

Some big news today for anyone looking at Castle Rock Homes for Sale. HUD just listed an unbelievable deal on a 3 bedroom home in the Castlewood Ranch homes neighborhood. Currently, this is the only HUD home available for anyone searching for Castle Rock foreclosures, meaning this is the only home eligible for HUD’s $100 down payment program.

This listing truly is an amazing deal. While many HUD homes need thousands of dollars of repair work just to move in, this 1,760 square foot home needs very little repair and is in great condition. Check out the hardwood floors through out the main floor as well as the view.

Because of the condition, low price and availability of the $100 down payment program, we expect this home to sell quickly and receive multiple bids. So, if you are interested in this home, call us today to get inside and see it for yourself: 303-726-1874.

Castlewood Ranch Homes:

HUD Owned Home 5904 turnstone pl castle rock 80104 $155,000.00

Beds: 3 Fin Sq Ft: 1760 Baths: 3 Year: 2005 Acres:0.11 # of Photos Avail: 5 V-tour Available: No MLS #: 1085301 Listing Office: diamond realty alliance

Broker Remarks: great townhome in castlewood ranch! spacious, open floor plan*huge bedrooms*two car attached garage*yard with unobstruct… more… Disclosures

If you would like to talk with our team about the current inventory of Castle Rock foreclosures or your options for all Castle Rock homes for sale, give us a call at 303-726-1874. There are still some good deals out there for those who can move quickly and whoa re working with the most experienced agents.