The Brian Petrelli Team Blog

Ridgepoint at Bear Creek homes is one of the most sought after communities by buyers searching for Denver foothills homes. This community sits on the foothills and the mountain and city views of this neighborhood are unparalleled.

Our team is thrilled to announce our newest in Ridgepointe. This homes has all of the upgrades you could ask for (slab granite, hardwood floorsm loft and more). Downstairs is a finished walkout basement with a wetbar and plenty of room for entertaining.

Step outside on the back deck, and you won’t believe the views. You can see from the foothills to Denver and more. Make sure you check out the virtual tours on our website and then give our team a call to schedule your own private showing at 303-726-1874.

Ridgepoint at Bear Creek homes:

2448 s newcombe st lakewood 80227 $569,900.00 est $

Beds: 4      Fin Sq Ft: 4676 Baths: 5     Year: 1999 Acres:0.19 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1074748 Listing Office: mb the brian petrelli team

Broker Remarks:  absolutely stunning home with unbelievable views! home sits high on hill, backing to open space with views of the mounta… more… Disclosures

 If you’re searching for Denver foothills homes, you owe it to yourself to check out this amazing home. Ridgepoint at Bear Creek homes offers some of the best views of any neighborhood in the city.

The Brian Petrelli team can help you with all of the available Lakewood homes for sale. Give our team of experts a call today at 303-726-1874 to get started. 

More and more buyers are searching for Denver horse property with plenty of room for horse and livestock. It’s becoming harder and harder to find any type of Denver homes with acreage, but there are several areas just outside the city limits that allow for horses.

We’re proud to announce that we have just listed one of these homes and this one is grogeous! Located south of Parker in Franktown, CO, this home has 10 acres of land and a large, 1,740 square foot, 3 bedroom, 3 bath home.

Offering panoramic views of Cherry Creek Valley and backing to Castlewood Canyon State Park, there are few Denver horse properties that can match these view.

Denver Horse Property:

1195 castlewood pl franktown 80116 $469,900.00

Beds: 3      Fin Sq Ft: 1740 Baths: 3     Year: 1978 Acres:10.22 # of Photos Avail: 1 V-tour Available:  No MLS #: 1074102 Listing Office: mb the brian petrelli team

Broker Remarks:  10 acre*hores property located in castlewood north*great location country life-style with easy commute to denver or colo… more… Disclosures

If you’d like to learn more about this home or other Denver Homes with acreage, give our team a call at 303-726-1874. We have several agents on our team who can use their experience in rural and Denver horse property to help you find the perfect home.

More news today on Denver Foreclosures confirming what we’ve been reporting regarding inventory of Denver homes for sale. While filings were up slightly, the actual sale of these filing fell to a five year low.

Some of this has to do with banks allowing homeowners to sell homes as short sales or renegotiate their mortgages. But quite a bit has to do with the improving housing market and the plummeting (down 39% year over year) inventory of Denver homes for sale.

From the Denver Business Journal:

Foreclosure filings in Colorado’s urban counties were up slightly in February from a year earlier, but foreclosure auction sales fell to a five-year low, according to a report Wednesday from the Colorado Division of Housing.

New foreclosure filings in the state’s metropolitan counties rose 3.5 percent year-over-year in February, to 2,056 filings from 1,986 in February 2011.

Yet foreclosure sales were down 6.7 percent in February from a year earlier, dropping to 1,248 sales from 1,338.

Again, we’re seeing fewer and fewer Denver foreclosures on the market and a resulting drop in sales. there are still several good deals on the market, but the number of Denver short sales and foreclosures are falling quickly.

If you would like to learn more about foreclosures, short sales or the market for Denver distressed properties, give our team a call at 303-726-1874 today. With the $100 down program being offered on Denver HUD homes, in conjunction with the record low interest rates, this is an unbelievable time to buy a home.

More big news for Denver foreclosures: In the largest industry settlement since the US settled with the tobacco industry, 49 state attorneys, including John Suthers of Colorado, filed the $25 billion agreement in court on Monday agreed to last month.

We’re still waiting to see exactally how this plays out and if it will impact the number for foreclosures and Denevr short sales on the market. the deal is supposed to help roughly a million borrowers to see a reduction in the mortgage debt, but only time will tell.

From the Denver Business Journal:

The complaint alleged the five mortgage servicers’ misconduct “resulted in the issuance of improper mortgages, premature and unauthorized foreclosures, violation of service members’ and other homeowners’ rights and protections, the use of false and deceptive affidavits and other documents, and the waste and abuse of taxpayer funds.”

Colorado had the nation’s ninth highest state foreclosure rate in 2011 among the states and 12th highest in December 2011, according to RealtyTrac.

Most of the settlement amount, about $20 billion, is slated for home refinancing and principal reductions for struggling borrowers. About 1 million borrowers can expect their mortgage debt to be reduced by lenders or to refinance their homes at lower rates.

If you’d like to learn more about Denver foreclosures or Denver HUD homes, give our team of foreclosure experts a call at 303-726-1874.

Inventory is still way below average levels and is nearly 40% below where we were at this time last year.

More news on the declining housing inventory; this time for Denver luxury homes. The numbers today for luxury homes is nearly identical to the number earlier this week for all of the Denver homes for sale. Earlier this week, we reported that year-over-year inventory is down 33%. Today, we’re finding out that inventory for Denver luxury homes is down year-over-year by 40%.

The number of sold homes in that time frame remained about the same, suggesting that the market may be finding an equilibrium.

From The Denver Business Journal:

There were 40 percent fewer luxury homes on the market in metro Denver in February than in the same month of 2011, according to a report released Friday.

Brokers listed 604 homes with a price tag of more than $1 million in February, compared to 644 in January and 1,005 in February 2011, according to the report analyzing Metrolist Inc. data by Gary Bauer, an independent Littleton broker, Metrolist analyst and board member.

Thirty homes in that market sold in February, down slightly from 33 sold in January but up from 27 in February 2011.

These numbers include the statistics for Denver luxury foreclosures as well.

If you are interested in more detailed statistics or information on Denver luxury homes in specific neighborhoods, give our team a call at 303-726-1874. Each neighborhood can have it’s own unique markets, so let us send you a detailed report.

We’ll continue to monitor the market and post the stats here, but as we’ve been reporting since last fall, the inventory continues to fall while the demand for homes, spurred largely by the low interest rates, continues to climb.

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When reporting market trends on Denver homes for sale, many companies will compute numbers by excluding all Denver distressed properties from their figures. This can lead to an overoptimistic picture of the true home market. Today, however, CoreLogic’s numbers show a year-over-year increase and factor in all of the Denver distressed properties on the market (Denver foreclosures, Denver short sales, Denver HUD homes, etc).

This is big news and reflects the severely diminishing supply we’ve seen over the past 6 months. (See our post from yesterday on the housing inventory in Denver being down 33%.)

From the Denver Business Journal:

While home sale prices continue to slide nationally, Denver is bucking the trend with a year-over-year increase, according to the most recent CoreLogic home price index report.

Home prices in the Denver-Aurora-Broomfield metro area, including distressed sales, grew 1.1 percent in January from a year earlier, CoreLogic reported.

And in a revised December 2011 home price index, CoreLogic is now reporting a rise of 0.1 percent over December 2010, which makes for two months’ worth of year-over-year growth.

With the number of Denver foreclosures and short sales diminishing, the traditional resale market is picking up steam. While it used to be Denver HUD homes and that would occasionally see multiple bidders, we’re seeing it happen much more frequently on traditional sales in certain areas of town and it is almost a given that a HUD home or foreclosure will have several bidders.

If you are serious about buying a home in the near future, give our team a call at 303-726-1874. We can set you up on the daily email alerts for your area so you don’t miss anything.

There are still some great deals available on Denver distressed properties, but with prices heading up and inventory heading down, you need to move quick.

More supporting statistics out today confirming what we’ve been reporting since October – the inventory of Denver homes for sale has decreased drastically. The latest statistics show that the inventory available now, is down 33% from where it was this time last year.

This reduction is across the board in both single family homes as well as Denver condos. In addition, we’re seeing a steep drop off in the available number of Denver HUD Homes and Denver foreclosures.

This decreasing inventory is causing several of our current clients to be forced into bidding wars on newly listed homes that just a year ago may have sat on the market for 6+ months. If you are serious about buying a home, you need to get organized, get prequalified, and get set up on our daily email alerts for the newest Denver homes for sale so you can move quickly. Give our team a call at 303-726-1874 to get started.

From the Colorado Division of Housing:

The single-family and condo inventory in the Denver area declined 33.1 from early March 2011 to the same period this year. According to new data released Monday by Housingtracker.net, the total inventory declined from 21,909 to 13,965 year over year, but was up 1 percent, month over month, reflecting seasonal changes.

If you are thinking of putting your home on the market, this low inventory puts you at a huge advantage when listing your home. Give us a call today to learn more about your specific neighborhood: 303-726-1874. With the number of Denver foreclosures and Denver short sales decreasing at such a rapid pace, this could be the best time in years to sell your home!

Because our team is always working with buyers looking for Highlands Ranch condos, we’re always looking for Highlands Ranch foreclosures the day they hit the market. With the low market inventory, these foreclosures are moving quickly, especially when they are priced well.

Today, an amazing deal on a 3 bedroom unit in Canyon Ranch Highlands Ranch came on the market. Typically, 3 bedrooms in this complex can go for anywhere from $140,000-$160,000. HUD just listed this unit (with a 1 car garage) for only $115,000! This is an unbelievable price and this home will not last long.

In addition to the incredible price, this home qualifies for the HUD $100 down program. So if you are buying this as your personal residence, you can purchase this home with an FHA mortgage for just $100 down!

If you want more information on this, or any of the other available Highlands Ranch Condos or Highlands Ranch homes for sale, give our team a call at 303-726-1874.

Canyon Ranch Highlands Ranch:

HUD Owned Home 8455 pebble creek way highlands ranch 80126 $115,000.00

Beds: 3      Fin Sq Ft: 1291 Baths: 2     Year: 1996 # of Photos Avail: 1 V-tour Available:  No MLS #: 1071991 Listing Office: mb denver colorado realty

Broker Remarks:  this property may be eligible for the fha $100 down payment program. ask your agent for details. highlands ranch pebblec… more… Disclosures

As we’ve mentioned on our blog recently, the market inventory is incredibly low, and there are fewer and fewer Denver HUD homes becoming available. If you’re looking for Highlands ranch homes for sale, make sure you sign up for our daily email alerts so you don’t miss the best deals on Highlands Ranch foreclosures and Highlands Ranch homes.

The HUD $100 down program is still available, but we don’t know for how much longer. This program has come and gone in the past without warning, so if it is something that interests you, don’t wait.

Earlier this week, HUD released another Highlands ranch foreclosure. This is a single family home in Westridge Highlands Ranch with 3 beds, 2 baths and over 1,800 square feet. Priced well, this home will move quickly.

HUD Owned Home 10577 hyacinth pl highlands ranch 80129 $227,000.00

Beds: 3      Fin Sq Ft: 1807 Baths: 2     Year: 1994 Acres:0.11 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1071416 Listing Office: era herman group

Broker Remarks:  with 1,807 total sq.ft., this tri-level with finished basement is perfectly situated on a 4,791 sq.ft. lot near spring g… more… Disclosures

Some more very positive news from Metrolist today regarding Denver homes for sale. Inventory is falling, homes under contract are increasing and and sold homes are way up (12% year over year). All of this corresponds with what we’ve been saying for over 6 months on our blog. The Denver market is very strong and our biggest concern is the lack of inventory available for buyers.

From The Denver Business Journal:

If February is any indication, 2012 is going to be a better year for home sales in metro Denver, according to a report released Monday based on Metrolist Inc. statistics.

The number of homes put under contract in February stood at 4,150, up 19 percent from the previous month and up 12 percent from the same month last year, according to the report by Gary Bauer, an independent Littleton broker and Metrolist analyst and board member.

And this

February’s inventory of unsold homes was 10,086, down 3 percent from January and down a whopping 42 percent from February 2011’s 17,358.

As far as homes sold, there were 2,495 last month, which is up 1 percent from January and up 12 percent from the same month last year.

For years, the #1 question I get asked by clients and friends is “When do you think the market will turn around.” For a long time now, I’ve been saying that I wish I knew. For the last month, my answer is simple: “Now.”

The number of Denver foreclosures and Denver short sales are down and the invetory of available Denver homes for sale has been decreasing for a long time. If you are thinking of buying a home this year, the time to start looking is now.

Give our team a call at 303-726-1874. We can set you up on daily email alerts so you don’t miss the best deals when they hit the market. Many of the best deals on Denver foreclosures are receiving multiple bids in the first few days and Denver Short sales are moving much quicker than they did even 6 months ago. Call or email us today.

 Highlands Ranch foreclosures are getting harder and harder to find. that’s why when we did our daily search of Highlands Ranch homes for sale this morning, we were thrilled to see that HUD released a new listing this weekend!

This newest offering from HUD is located in Westridge Highlands Ranch near Spring Gulch Park. It has over 1,800 finished square feet, 3 bedrooms and is located on a 4,791 square foot lot. In addition, this home, like all Denver HUD homes, qualifies for the HUD $100 down program for owner occupants.

Highlands Ranch Foreclosures:

HUD Owned Home 10577 hyacinth pl highlands ranch 80129 $227,000.00 est $

Beds: 3      Fin Sq Ft: 1807 Baths: 2     Year: 1994 Acres:0.11 # of Photos Avail: 5 V-tour Available:  No MLS #: 1071416 Listing Office: era herman group

Broker Remarks:  with 1,807 total sq.ft., this tri-level with finished basement is perfectly situated on a 4,791 sq.ft. lot near spring g… more… Disclosures

 Highlands Ranch HUD homes move very quickly, especially priced under $250,000, so if you’re interested in seeing this, or any other Highlands Ranch homes, give our team a call at 303-726-1874 today. The HUD $100 down program is generating plenty of bids on Denver HUD homes, so we expect this one to move fast.