The Brian Petrelli Team Blog

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.

New month, same story for Denver homes. The numbers from Metrolist in June continue to support what we have been documenting here for months. The market is moving very quickly and prices are rising.

As agents, our biggest problem is with the lack of inventory for our buyers. The current levels of available homes for Denver homes, Denver foreclosures and even Denver short sales are at historic lows (10,925 homes on the market in June). This incredibly low inventory is forcing buyers into bidding wars, and if they lose the bidding, there may not be any suitable alternative for their price range and area.

From the Denver Business Journal:

Inventory levels continue to remain at historically low levels, with 10,925 homes on the market in June — while up slightly from May’s 10,591, that’s 39 percent below the 18,026 homes available in June 2011.

“The bottom line is we need more available inventory for homebuyers to choose from,” Slunaker said in the release.

The average sales price rose to $297,597 in June, up 5 percent from May’s average and up 12 percent from June 2011’s average of $266,493.

Meanwhile, the average days on the market continued to drop, to 72 days in June, down from May’s 78 and down 31 percent from 104 days in June 2011.

New listings for Denver HUD homes and other Denver foreclosures typically generate multiple bids and the finally selling price can be significantly higher than the starting list price.

If you would like information on the market for a specific neighborhood give us a call. our team of experts can help you navigate the crazy market and educate you on the different bidding procedures for Denver HUD homes and other Denver foreclosures. Call us today at 303-726-1874.

As with the Case-Shiller number we reported on last week, the Core-Logic report for Denver homes shows a similar upwards trend for prices. However, these numbers indicate a greater improvement.

From The Denver Business Journal:

The Denver-Aurora-Broomfield area saw home prices increase by 6.5 percent in May compared with May 2011, according to the CoreLogic HPI report released Monday. That number included distressed sales, which are foreclosed or real-estate owned (REO) homes.

That’s at least the fourth month in a row metro Denver’s HPI has posted year-over-year positive gains, according to CoreLogic, a Santa Ana, Calif.-based business-data company.

This 6.5% increase in year-over-year prices is big. Last week’s number from Case-Shiller indicated a 2.8% increase in prices of Denver homes from April of 2011.

What’s more, this 6.5% increase includes Denver Distressed properties in it’s figure, which means this increase includes all Denver foreclosures, short sales, HUDs and other distressed homes.

This is just another in a long string of positive housing news for the Denver market. If you would like one of our agents to run detailed numbers for a specific area or neighborhood, give us a call at 303-726-1874 today.

More positive numbers are out today for the Denver homes market. For the past 9 months, we have been citing statistics and reports showing the declining inventory of Denver homes, the increasing demand and the decreasing inventory of Denver foreclosures. Today, a report by Case-Shiller shows that prices in the Denver housing market have risen for the fourth straight month.

From the Denver Business Journal:

For the fourth straight month, metro Denver posted a year-over-year increase in home prices in April, at a pace that eclipsed all but three of the nation’s 20 largest markets, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.

Denver’s four consecutive months of year-over-year price gains followed 18 months of declines, according to the closely-followed monthly report on average home-resale prices from Standard & Poor’s Standard & Poor’sLatest from The Business JournalsEl Dorado Irrigation District gets upgraded credit ratingUp and down: Home prices rise; consumer confidence falls S&P: U.S. still faces risk of double dipFollow this company .

Denver prices were up 2.8 percent in April from the same month of 2011, the Case-Shiller report said. That followed year-over-year gains of 2.6 percent in March, 0.5 percent in February and 0.2 percent in January.

These rising prices are the logical outcome of decreasing suply and increased demand. The big question mark is just how many Denevr foreclosures banks have in their inventory waiting to be released and if the banks will choose to sell these as foreclosures or as Denver short sales.

As always, you can reach our team of expert agents anytime by calling 303-726-1874. We can supply you with the detailed statistics for your specific area or the entire market of Denver homes.

One of the best 4th of July events in the Denver area is the Highlands Ranch fireworks show put on by the Highlands Ranch Community Association. This annual event is a great way to spend your 4th of July evening and cap off all of the festivities put on by the association.

The Fireworks start at 9:30 on Town Center Drive behind the SuperTarget.

You can see the display great from Town Center, or from many of the hills in the Highlands Ranch area. Many home owners will have great views from their Highlands Ranch homes.

Besides the fireworks, there is a full day of festivities planned by HRCA. You can see the details at their website here. Here is a brief overview:

4th of July Parade
Family Bike/Pet Parade
4th of July 5K
Celebration in Town Center
Hot Dog Eating Contest
Fireman Challenge
Pet Adoption Fair
4th of July Concert
Fireworks

Our family has attended these festivities for many, many years and they always offer a great day (and night) of fun. Hope to see you there!

Located just east of Chambers rd off of Alameda, Tollgate Village Aurora homes have been in high demand over the last few months. Several of the Aurora foreclosures in this neighborhood have gone very quickly, many with multiple offers received.

That’s why our agents working with clients in the Aurora area were so happy to see HUD releases a new listing over the weekend in this area. This large home (1,940 square feet) has 3 beds, 3 baths and sits on a large corner lot. The home needs some work (a $3,575 repair escrow is available through HUD), but this home is priced very well and will most likely receive several offers.

If you are interested in seeing this, or any other Aurora foreclosures, call our team at 303-726-1874 soon and we can educate you one the bidding process and the available $100 HUD down payment alternatives available on all Denver HUD homes.

Tollgate Village Aurora Homes

529 s laredo cir aurora 80017 $145,000.00

Beds: 3 Fin Sq Ft: 1940 Baths: 3 Year: 1981 Acres:0.19 # of Photos Avail: 5 V-tour Available: No MLS #: 1105560 Listing Office: snowden & associates inc.

Broker Remarks: hud acquired home. nice starter home sits on a large corner lot with fenced yard. open floor plan with county kitchen,… more… Disclosures

If you are interested in learning more about Aurora homes for sale, or would like a daily email with all of the available aurora foreclosures, give our team of experts a call at 303-726-1874. We can help yo understand the difference between standard foreclosures and Denver HUD homes.

As many of our clients know, it has been a while since HUD has had any Littleton condos come available in the Deer Creek condos complex. It’s easy access to c-470 as well as all of the shopping and restaurants within walking distance make ite of the most sought after areas for buyers looking for condos in Littleton

The unit that HUD has just released is a large, 1,134 square foot home on the ground floor. This is one of the most spacious floor plans available in the Deer Creek condos complex, and the fact that this is a ground floor unit ensures that there will be substantial interest.

As with all Denver HUD homes, this unit qualifies for the HUD $100 down payment program. Give ne of our agents a call to learn more about how you can get this home for just $100 down at 303-726-1874.

Deer Creek Condos:

HUD Owned Home 8354 s holland way littleton 80128 $125,000.00

Beds: 2 Fin Sq Ft: 1134 Baths: 2 Year: 2001 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1104558 Listing Office: peregrine property group

Broker Remarks: hud owned. sold as-is. convenient ground floor unit. nice open floorplan, cozy fireplace in living room, and dining sp… more… Disclosures

If you are interested in learning more about Littleton foreclosures, Littleton short sales or any of the available Littleton condos for sale, give our team a call at 303-726-1874.