The Brian Petrelli Team Blog

Our team has placed and won several bids on Denver HUD homes over the past few weeks. With the inventory of Denver foreclosures slowly decreasing, the better HUD deals are getting harder to find. We wanted to highlight a couple of the better deals we’ve come across here. As always, if you’d like to see any of these homes, give our team a call at 303-726-1874.

Hutchington Hills Denver Homes

Located just north of Yale on the edge of Hutchingson and James A Bible Park, Hutchington Hills homes sell from the low $200’s to the low $400’s. That’s what makes this 2,000+ square foot home such a deal at only $197,000. This home was recently listed and we don’t expect it will stay on the market long.

2697 s newport st denver 80224 $197,000.00

Beds: 3 Fin Sq Ft: 2073 Baths: 2 Year: 1965 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1039493 Listing Office: re/max momentum

Broker Remarks: three bedroom home in a desirable location-close to parks, schools and shopping-be sure to check this one out-ie escrow … more… Disclosures

Valley Station Denver Homes

Located in the northern part of Denver, just south of Montbello Park, Valley Station Homes offer a fantastic value for home buyers. this 3 bedroom, 1,400+ square foot HUD home is priced at just $101,000!

4386 davenport way denver 80239 $101,000.00

Beds: 3 Fin Sq Ft: 1406 Baths: 2 Year: 1985 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1041306 Listing Office: re/max momentum

Broker Remarks: three bedroom/2 bath hud home. close to parks, schools, highways and shopping-be sure to check this one out-ie escrow of… more… Disclosures

If you are interested in these Denver HUD homes, or would like to see any other available Denver homes for sale, give our team a call at 303-726-1874 today!

Our team was busy this weekend! I personally spent the last 2 days showing several clients a few of the Littleton foreclosures that are available. One of the homes that popped up on our list of possibilities is this new HUD listing in Westgold Meadows.

If you’ve done your research on Littleton homes for sale, then you kow that the Westgold Meadows neighbrohood is located south of Belleview and just east of C-470. The neighborhood has great views of the foothills and easy access to just about everything you could want.

Home sin the neighborhood typically sell from the low $200’s to the low $300’s, bud HUD has this 3 bed, 3 bath home listed at just $194,000! While it needs a little work, this is a tremendous deal on a Littleton home. It will be hard to beat the price!

Westgold Meadows Homes

HUD Owned Home 12496 w crestline ave littleton 80127 $194,000.00

Beds: 3 Fin Sq Ft: 1618 Baths: 3 Year: 1994 Acres:0.12 # of Photos Avail: 5 V-tour Available: No MLS #: 1041324 Listing Office: metrowest real estate solut…

Broker Remarks: great two-story in westgold meadows! minutes to mountains, hiking trails and reservoir! live and play close to the mou… more… Disclosures

If you are interested in seeing this, or any other Littleton homes for sale, give our team a call at 303-726-1874,. We can help you navigate the complex world of short sales, Littleton foreclosures and the ever changed market for Denver HUD homes.

HUD had listed this home in Eastridge Highlands Ranch 2 months ago. As with most Highlands ranch foreclosures, it went under contract quickly. However, yesterday, they home fell out of contract and was relisted by HUD in the MLS.

Priced at just $220,000, this 3 bedroom, 1,500+ square foot home is a great deal in Eastridge. Located just south of Valor High School and near several parks as well as Eastridge Rec center, this home is in an ideal location and will not stay on the market for long. If you’d like more information on this or other Highlands Ranch homes for sale, give us a call at 303-726-1874.

HUD Owned Home 9924 aftonwood st highlands ranch 80126 $220,000.00

Beds: 3 Fin Sq Ft: 1598 Baths: 3 Year: 1999 Acres:0.09 # of Photos Avail: 5 V-tour Available: No MLS #: 1022085 Listing Office: westfall & company marketing

Broker Remarks: hud owned*sold as is*nice 3 bed 3 bath home*wood floors*large loft area*private backyard with mature trees!… more… Disclosures

This is currently the only Highlands Ranch HUD home on the market. If you’d like us to set you up on a daily alert for Highlands Ranch foreclosures or Highlands Ranch homes, give us a call at 303-726-1874. The best deals are moving very quickly in this area.

Our team has helped several clients attend and bid at auctions over the past few years. They rarely, if ever, live up to the hype, but they are always interesting to attend. The FDIC just announced an auction on October 22nd, that will among other properties, include Denver Luxury Foreclosures.

It’s rare to see the FDIC conducting a property auction, and there will only be about 20 properties up for bid at this auction. The properties will range from commercial lots to a small technical school to Denver Luxury homes.

From The Denver Business Journal:

The Federal Deposit Insurance Corp. said Monday it will auction off about 20 properties, most of which are in the metro Denver area, on Oct. 22.

Properties include office buildings, a luxury home, former bank branches, a small shopping center in Arapahoe County and a former technical school.

Marietta, Ga.-based John Dixon & Associates is managing the sales, which will include an option to bid online.

A Denver luxury home at 159 S. Dexter St., built in 2009, will be one of the properties for sale. The school, 42,992-square-feet large, is located at 1198 Boston Ave., Longmont.

If you are interested in finding Denver luxury foreclosures, auctions are usually not the best bet. Our team can help you bid on and negotiate with many of the banks that have these luxury homes available. Give us a call at 303-726-1874 to learn more about the options you have.

Metro Denver Area Luxury Foreclosure and Luxury HUD House Searches:
Denver Area Luxury Foreclosures, Aurora Luxury Foreclosures, Arvada Luxury Foreclosures, Brighton Luxury Foreclosures, Broomfield Luxury Foreclosures, Castle Rock Luxury Foreclosures, Centennial Luxury Foreclosures, Commerce City Luxury Foreclosures, Denver Luxury Foreclosures, Englewood Luxury Foreclosures, Golden Luxury Foreclosures, Highlands Ranch Luxury Foreclosures, Lakewood Luxury Foreclosures, Littleton Luxury Foreclosures, Northglenn Luxury Foreclosures, Parker Luxury Foreclosures, Thornton Luxury Foreclosures, Westminster Luxury Foreclosures

One of our agents spent all weekend showing Parker Foreclosures to an investment client. While there are some fantastic opportunities in Parker for investors (there are a couple distressed properties in Parker right now that are perfect for fix and hold investors), HUD just released a new listing that can only be bid on by owner-occupants for the next week.

This new HUD listing is a 3 bedroom, 2 bath home with nearly 1,700 square feet located in Cottonwood Parker. Found just north of E-470 between Jordon and Parker rd, Cottonwood is increasingly popular due to its northern Parker location and its proximity to DTC.

Cottonwood Parker:

HUD Owned Home 8333 wild alfalfa pl parker 80134 $134,000.00

Beds: 3 Fin Sq Ft: 1668 Baths: 2 Year: 1983 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1039782 Listing Office: re/max professionals

Broker Remarks: situated on a quiet cul-de-sac, this 3 bedroom 1.75 bathroom is a great opportunity. enjoy entertaining in theroomy kitc… more… Disclosures

If you’re interested in learning more about Parker foreclosures or any of the available Denver HUD homes, give our team a call at 303-726-1874. We can help you as an investor or if you’re looking for a home to live in. Our team is experienced in HUD, Bank owned, Parker Short sales and more. Start your search for Parker homes for sale with us!

While I’ve talked before about how many banks have improved approval times on short sales, things are far from perfect. Our team has sold many Denver short sales over the past few months, and on more than one occasion a buyer has walked away from the deal before the bank has approved a sale.

Reasons for buyers backing out of a short sale transaction are numerous, but they almost always involve “time” as a major component. Unfortunately, Denver short sales still don’t allow anything in the way of certainty. Even the most responsive banks are taking 60-90 days to make a decision on short sale contracts. However, the 60-90 days is just an estimate and home buyers are facing serious decisions and need a place to live.

Many times these buyers are running up against the end of a lease. If a short sale isn’t approved in time, these buyers will move on to a normal resale home, or even a bank owned home, where the closing date can be more certain.

Our most successful buyers have been investors who have time to wait for the sometimes lengthy Denver short sales and for whom time isn’t a major factor.

There is a great article on DSNews.com explaining this problem in detail:

Processing delays have taken their toll on first-time homebuyer interest in short sales, according to the latest HousingPulse Tracking Survey released by Campbell Surveys and Inside Mortgage Finance Monday

First-time homebuyers were a part of 39.7 percent of the short sale transactions completed in August, the HousingPulse survey found. That tally marks a three-month slide in the share of short sales that went to first-time buyers, and is the lowest percentage for this buyer segment ever recorded by the survey.

The first-time homebuyer share of short sales hit a peak of 54.1 percent of all short sale transactions in November 2009, just before the originally-scheduled expiration of the federal homebuyer tax credit, according to Campbell Surveys.

Short sale transactions have garnered a reputation for being problematic for buyers and sellers alike, with typical approval times of several months after a homebuyer first submits an offer.

If you would like to talk more about Denver short sales, Denver HUD homes or other Denver distressed properties, give our team a call at 303-726-1874.

Some mixed news came out today regarding Denver Luxury Homes. According to a report in the Denver Business Journal, only 53 homes priced over $1 million sold in August, compared with August 2010. However, during that same period, the median sales price of $1 million + homes is up by 5.4 percent.

Over the past several month, we’ve seen Denver Luxury homes trending up, both in volume and price, so it will be interesting to see if this is a minor blip or the start of a correction in the Luxury market. While the greater Denver market as a whole is trending upwards, we’ll keep our eye on the luxury market and report back with news as it comes out.

From the Denver Business Journal:

Although the number of homes that sold for more than $1 million in August is down to 53 from 71 a year ago, the median sales price is up by 5.4 percent. The sales price rose to $1.31 million.

Both sales indicators are off from July, when 69 homes sold for a median of $1.39 million.

While a low of attention has been paid to Luxury Denver homes for sale, few articles are mentioning Denver Luxury foreclosures. We’ve been finding some incredible deals for our clients. If you’d like more information or have additional questions, give our team a call at 303-817-0209.

Our team currently has several homes for sale in Parker under contract right now and we’ve been showing Parker Foreclosures to other clients all month. There are a number of good deals out there and a tremendous deal that just hit the market in Stonegate.

Stonegate Parker Homes 

Stonegate Parker Homes are found in the north west section of Parker. Just off of Chambers and Lincoln, these homes offer an easy commute to the DTC, Castle Rock and downtown Denver. In addition, Park Meadows mall and all the restaurants and shopping it has to offer is only 2 miles away.

HUD just released an unbelievable deal on a 3,500 square foot home in Stonegate. Priced at just $275,000, this home has a walk out basement, mountain views and is in good condition. This home will not last long. Owner occupant bids are due by October 4th, so if you’re interested in seeing this one before it’s gone, call us today at 303-726-1874.

HUD Owned Home 15447 greenstone cir parker 80134 $275,000.00

Beds: 4 Fin Sq Ft: 3500 Baths: 4 Year: 1998 Acres:0.15 # of Photos Avail: 5 V-tour Available: No MLS #: 1038036 Listing Office: mb cliff johnson realty

Broker Remarks: nice home close to schools, shopping and restaurants. mtn views,finished walk-out bsmnt. window coverings…. more… Disclosures

Willow Park Parker Homes

We also wanted to point out this HUD home in Willow Park. HUD just opened this home up to accept bidding from investors, so if you’d like to see it, give us a call at 303-726-1874.

HUD Owned Home 21010 glacier park cv parker 80138 $215,000.00

Beds: 3 Fin Sq Ft: 1889 Baths: 3 Year: 1999 Acres:0.26 # of Photos Avail: 5 V-tour Available: No MLS #: 1035439 Listing Office: the colorado real estate co.

Broker Remarks: hud owned, sold as is by electronic bid. bids due by 9/24/11@10:59pm mst or daily thereafter. fha insurable. *wow! beau… more… Disclosures

Our team can help you with and Denver HUD homes available. Give us a call and let us know what you’re looking for. You’ll be amazed at the deals we can find for you!

August stats are out and we’re seeing some more good news:

August Denver Housing Stats

Some more great news for Metro Denver homes for sale. While the statistic that stands out is the dramatic uptick in sold homes this August compared with last August (29%), pay attention to the drastic reduction in Active homes for sale. This year, we’ve seen a year over year reduction in homes on the market.

While this is a result of many factors, including some sellers “waiting out” the perceived bad market, this is helping those homeowners who do decide to sell their home. There is a distinct lack of inventory in the metro areas often resulting in several buyers bidding on the same home. Our team was involved in almost a dozen multiple bid offers this month. Some of those we represented the buyer (many on Denver HUD homes and Denver foreclosures), but several of those were on listings we had on the market.

If you are considering selling your home, give us a call to see what the market is like in your particular neighborhood. You might be surprised! 303-817-0209.

We haven’t seen too many Centennial foreclosures come on the market over the last few weeks. That’s one reason we were so encouraged to see this new HUD listing pop up in Fox Hill Centennial Homes yesterday.

Fox Hill is located in the eastern section of Centennial, just east of Quincy Reservoir. Homes typically sell from the mid $100’s to the high $200’s. This new listing is priced aggressively for the neighborhood at just $167,000.

if you’re interested in seeing this, or any other Centennial homes for sale, give our team a call at 303-726-1874.

Centennial Foreclosures

HUD Owned Home 19978 e union dr centennial 80015 $167,000.00

Beds: 3 Fin Sq Ft: 1853 Baths: 3 Year: 1994 Acres:0.16 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1037147 Listing Office: sellstate allpro realty

Broker Remarks: nice size home located in a covenant community, master bed with 5-peice bath, additional lower level bedrooms, vaulted c… more… Disclosures

Our team can help you with any of the available Denver HUD homes on the market. If you’re considering buying a foreclosure or short sale, use our expertise to make the right choice. Give us a call at 303-726-1874.