The Brian Petrelli Team Blog

Some more good news on Colorado Foreclosures came out yesterday. The number of foreclosure filings for January 2012 represented the lowest January numbers in 5 years.

This decrease in Colorado foreclosures is part of the reason we’re seeing such a decrease in housing inventory on the market. Both standard bank foreclosures as well as Denver HUD homes have been down significantly over the past 6 months. This lack of foreclosure inventory has been compounded by the lower number of standard resale homes being listed to create a severely low inventory of available homes.

We’re seieng the homes we do list go under contrract quickly and we have several buyer’s who simply can’t find availale homes in their market.

From The Denver Business Journal:

Colorado’s urban counties’ foreclosure filings and sales were both down in January from a year earlier, hitting their lowest January totals in five years, according to a report Thursday from the Colorado Division of Housing.

New foreclosure filings in the state’s metropolitan counties fell year-over-year in January, dropping 28.2 percent to 1,939 filings from 2,699 in January 2011.

Foreclosure auction sales were down 23.3 percent in January from a year earlier, dropping to 1,150 from 1,499.

There is talk that some banks were waiting for the recent settlement with the government on mortgage fraud before releasing new foreclosure listings, so we’ll see how that plays out in the coming months. But so far, we haven’t seen many more Colorado foreclosures being released.

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

Colorado 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 is very active in the Highlands ranch area, and we always have several clients looking for Highlands Ranch Homes for sale. We constantly keep our eyes open for Highlands Ranch foreclosures

This morning, HUD realesaed a new listing in the south west Highlands Ranch homes area. This 3 bedroom home has over 2,000 finished square feet and is in great shape for a HUD home. A home like this will sell very quickly, so if you are interested in seeing it, give our team a call at 303-726-1874.

Highlands Ranch Homes for Sale:

HUD Owned Home 9651 autumnwood pl highlands ranch 80129 $223,000.00

Beds: 3      Fin Sq Ft: 2080 Baths: 4     Year: 1997 Acres: # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1066792 Listing Office: aspen real estate

Broker Remarks:  this property may be eligible for the fha $100 down payment program. ask your agent for details. beautiful updated two s… more… Disclosures

Keep in mind, this home, like all Denver HUD Homes, is eligible for the HUD $100 Down Payment program currently being offered. This is a great incentive that HUD is allowing on FHA loans for owner occupants and can help you free up the traditional 3.5% usually required as a down payment. Give us a call at 303-726-1874 for more information.

If you would like to get more details or information on Highlands Ranch homes, Highlands Ranch foreclosures or Highlands Ranch short sales, give our team of experts a call at 303-726-1874. Our main office is located in Highlands ranch and we are experts on the area.

The high number of Denver foreclosures and short sales have taken their toll on many people’s credit scores. However, many of these past homeowners have a strong desire to rebuild their credit and get back on the road to home ownership. Because of this strong demand for rebuilding and repairing credit while working towards owning a home, our team receives dozen’s of calls and emails each month with buyers looking for Rent to Own Homes in Denver.

While the number of available rent to own homes in Denver is small, the numbers are increasing. Landlords aren’t stpid. They know that nothing makes for a better tenant that a tenant who wants to eventual own the home they are renting. They take care of the home like it’s their own and they make their payments on time.

One of the newer members of our team, Bryon Self, has been working with buyers looking at rent to own homes in Denver for over 15 years. His unique knowledge of mortgages and the rent to own challenges makes him the expert on this subject. If you’d like to learn more about potential rent to own homes or talk to Bryon in detail, you can reach him at 720-432-4RENT.

Remember, you don’t need perfect credit to rent to own. Bryon can walk you through the process and he will take the time to learn about your needs. Call him today.

 We will be closing tomorrow on a home in Tthe Meadows Castle Rock (3116 W Indian Summer Ln). We actually received an offer and had this listing under contract in 3 days.

We have several buyers looking in the Castle Rock area and have some past clients in the area that are considering putting their homes up for sale. We wanted to give all of you access to the latest market statistics for the neighborhood so you had all of the information you needed. 

This is a snapshot of the sold homes in The Meadows over the past 3 months. If you would like a more detailed analysis of all of the Castle Rock homes for sale or a market analysis of your specific home, feel free to give us a call at 303-817-0209.

The Meadows Castle Rock Homes for Sale

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While there are several Castle Rock foreclosures and Castle Rock short sales on the market, the overall conditions are strong in the area. The home we listed and put under contract in 3 days was a standard resale home and NOT a foreclosure or short sale. Give us a call and find out more.

Jan Philips on our team, just listed a perfect 2 bedroom townhome in Lakehurst Village Littleton. Located next to Harriman lake, as well as walking trails, bike paths and golf, this home has two master bedrooms, an upstairs laundry and a 2 car garage.

Lakehurst is one of the most popular areas for Littleton townhomes. There is actually only one other listing in this neighborhood right now, so if you’re interested, give our team a call at 303-726-1874 to see it soon.

Lakehurst Village Littleton:

11278 w radcliffe dr littleton, CO 80127 Lakehurst village $225,000.00

Beds: 2      Fin Sq Ft: 1750 Baths: 3     Year: 2004 # of Photos Avail: 5 V-tour Available:  No MLS #: 1066948 Listing Office: mb the brian petrelli team

Broker Remarks:  this is a awsome townhome…neutral colors, immaculate, beside harriman lake with walking trails, near bike paths and go… more… Disclosures

Our team can help you with any of the available Littleton townhomes on the market. Call us to day at 303-726-1874 and use our expertise and knowledge to navigate the complex world of Littleton foreclosures, Littleton short sales and the more traditional resales.

With the declining inventory of Littleton foreclosures, we’ve seen a fairly steep drop off in HUD homes. However, this morning, HUD released a new listing in southwest Littleton with 4 bedrooms and over 2,500 square feet.

This listing is so new, that pictures have not yet been uploaded to the MLS. All we have is te description below. We can tell you it is in the Powderhorn Littleton homes area and is priced very well for the homes in this neighborhood.

Powderhorn Littleton Homes:

HUD Owned Home 11811 w lake ave littleton 80127 $279,000.00

Beds: 4      Fin Sq Ft: 2516 Baths: 4     Year: 1984 Acres:0.21 # of Photos Avail: 0 V-tour Available:  No MLS #: 1066468 Listing Office: olde towne golden realty llc

Broker Remarks:  great family home recently completely remodeled. new kitchen, new appliances, new baths, new floors, new paint. home in… more… Disclosures

If you are interested in Littleton foreclosures, there is actually only one other single family Littleton HUD home one the market right now. This home is in Woodmar Village Homes (just north of Coal mine and west of Wadsworth). Again, this home is priced well for the neighborhood, but like many homes Denver HUD homes, it needs some TLC.

Woodmar Village Homes:

HUD Owned Home 6482 s field way littleton 80123 $170,000.00

Beds: 3      Fin Sq Ft: 1899 Baths: 3     Year: 1975 Acres:0.17 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1065704 Listing Office: era herman group

Broker Remarks:  fixer, needs tlc, good neighborhood, sweat equity opportunity. start from scratch and remodel to your unique taste. don’… more… Disclosures

As with all Denver HUD homes, these homes qualify for the $100 HUD Down Payment program for owner occupants using an FHA mortgage. Our team can help you with that or any other HUD questions you may have.

Our team works extensively in the Littleton area, and we can help you with all of the available Littleton foreclosures and Littleton homes for sale. Give us a call at 303-726-1874 today.

Absolutely every agent in the business has their own personal horror story about dealing with one of the many management companies for Colorado HOAs. From the run-around on the phone, to the ridiculous rules, to the just plain rude, there is no doubt that many of the management companies running HOA’s can be a nightmare.

My personal favorite happend several years ago. We absolutley had to have HOA docs that day. So one of my assistants went in person to the HOA office. She patienctly knocked at the door only to find out it was locked. The people inside the office said they could not let anyone in and if she needed docs, she would have to call and it would take 5-7 business days. Good times.

However, with all of the problems and complaints on Colorado HOAs, many people often overlook the necessity and services they do provide. The reason you don’t live next to a bright pink house with 30 wind chimes and a purple fence, is because of HOAs. That may be an extreme example, but HOA’s do serve a purpose – especially in condo and townhome communities where there are many shared common areas and services.

The latest move to help homeowners with Colorado HOAs involves possible government regulation. You can read the details at the Denver Post.

While in almost every instance, more government regulation and “help” in the real estate industry only brings about more problems, this may be one time when a level headed regulation system, similar to the mortgage broker regulations enacted a few years ago, may actually help everyone involved.

We’ll follow the developments on this and keeo you updated on our blog.

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Condo & Townhome Communities and Property Management Companies:

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We have several buyers working with us looking at homes in south east Aurora. In preparing a list of homes to see this weekend, one of the available Aurora Foreclosures listed by HUD caught our eye. This large ranch home located in Mission Viejo Aurora, has over 1,800 finished square feet, an attached two car garage and qualifies for HUD’s $100 down payment program. Bids are open and this home is in good shape for a HUD listing.

If you’d like to schedule a time to see it this weekend, give one of our agents a call at 303-726-1874. We’ll be out showing homes all weekend and would be happy to swing by and let you take a look.

Mission Viejo Aurora:

HUD Owned Home 3776 s lewiston st aurora 80013 $118,000.00

Beds: 3      Fin Sq Ft: 1824 Baths: 2     Year: 1979 Acres:0.18 # of Photos Avail: 5 V-tour Available:  No MLS #: 1065218 Listing Office: mb cliff johnson realty

Broker Remarks:  very nice 3 bed 2 bath ranch style home. finished basement. close to park,shopping, schools. hud owned – sold as-is…. more… Disclosures

The inventory for Denver HUD homes has contracted over the past few months. Much of this has to do with the amazing HUD $100 Down Payment program currently being offered for owner occupants using an FHA mortgage to purchase the home. If you’d like to learn more about this special financing, or talk to one of our agents about Aurora foreclosures or homes specifically in Mission Viejo, give us a call at 303-726-1874 or send us an email at properties@petrelliteam.com.

Our team will be showing some clients a number of Lakewood condos this weekend. On the list of homes to see are these two fantastic deals on Lakewood foreclosures. Both of these units are priced at or under $80,000 and are incredible values for their neighborhoods.

The first unit is a tremendous deal in Meadow Creek Townhomes. This is a HUGE, 1,668 square foot townhome with 2 beds, 3 baths with a fenced yard and a 2 car, attached garage – All for just $80,000! Give one of our agents a call at 303-726-1874 if you’re interested in seeing this home. It will not last long at this price.

Meadow Creek Townhomes

HUD Owned Home 6305 w 6th ave lakewood 80214 $80,000.00

Beds: 2      Fin Sq Ft: 1668 Baths: 3     Year: 1975 # of Photos Avail: 5 V-tour Available:  No MLS #: 1033489 Listing Office: elist realty, llc

Broker Remarks:  ***back on the market*** light and bright 2 bedroom 3 bath townhome on fenced lot with lots of potential. property has … more… Disclosures

THe second of the two Lakewood foreclosures, is a one bedroom unit in Snowbird Condos. Unlike many foreclosures, this unit comes with all of the appliances (fridge, washer and dryer). In addition, it has wood floors and a fireplace – all for just $65,000.

Snowbrid Condos Lakewood

HUD Owned Home 335 wright st lakewood 80228 $65,000.00

Beds: 1      Fin Sq Ft: 812 Baths: 1     Year: 1981 # of Photos Avail: 5 V-tour Available:  No MLS #: 1065769 Listing Office: mb cliff johnson realty

Broker Remarks:  great 1 bed 1 bath condo. wood floors.fireplace. washer, dryer, fridge, oven all included. hud home sold as-is. bids due… more… Disclosures

It should be noted that these homes, like all Denver HUD homes, qualify for the HUD $100 down payment program currently being offered to all owner occupants of HUD purchases.

If you are interested in learning more about the available Lakewood condos, Lakewood foreclosures or any of the other options available, give our team a call at 303-726-1874.

The number of sold homes in January were up 14.5 percent from January of 2012 according to a report by Metrolist Inc detailing Denver homes for sale. This upwards trend is consistent with all of the data we’ve seen over the past 6 months.

This is obviously good news, but what is troubling, and what is not being reported by most news outlets, is that the number of “active” Denver Homes for sale in January 2012 dropped by over 41% from January of 2011. This drastically declining inventory has been a real problem both for our clients, and for the market as a whole.

While there ire definitely some Denver foreclosures that have not been listed by banks as they were waiting for the settlement finally announced yesterday, a larger problem is the constant reporting in the news that the housing market is in terrible shape. This negative reporting is causing many sellers to wait on listing their homes, or forgo listing their homes altogether.

While many areas of the country are in terrible shape, this is not the case for most of the metro Denver area. Over the past few weeks, our team has put many, many homes under contract. Two of the homes we listed went under contract in less than 7 days. Much of this is due to the complete lack of inventory in certain markets caused by the media misinformation.

As with all real estate, each market is completely unique, so if you would like a full report for your neighborhood, or a neighborhood you are considering moving into, give our team a call at 303-726-1874.

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