The Brian Petrelli Team Blog

More good news came out for the Colorado Springs Housing market this week. According to a report published in The Gazette, the median price for Colorado Springs homes rose 3% from the same period a year earlier.

The report also shows the 16 straight month of increased sales when data is compared year-over-year. The number of home sold in the most recent period is 17% higher than the same period in 2012.

The entire article and report is worth a read and shows that the real estate recovery is not isolated to only the Denver homes market.

From the Gazette:

Single-family home sales totaled 929 in October, a 17 percent increase over the same month last year, the report showed. Sales have risen for 16 straight months on a year-over-year basis.

Through the first 10 months of 2013, single-family home sales totaled 9,398, up 22 percent from the same period last year.

Three out of every four homes that were sold in October were priced at $300,000 or less, continuing a trend over many months in which lower-priced homes drove buying and selling activity. Higher-end homes – $400,000 and up – accounted for 10.5 percent of sales last month, compared with 9.8 percent in the same month last year.

The median price – or mid-point – of homes that sold last month climbed 3 percent to $218,000 when compared with prices of homes sold in October 2012. Prices have risen for each of the last 20 months.

Read more at http://gazette.com/colorado-springs-area-home-prices-and-sales-rise-again-in-october/article/1508998#eA3mobOyfOlVxuIZ.99

Our team has been working for a couple of months on a fantastic short sale in Parker. This week, we were finally given an approved price that the bank will accept and it makes this home a terrific deal.

With over 3,000 square feet plus an unfinished walk-our basement, this 4 bedroom, 4 bath home in The Villages of Parker overlooks a golf course, has wood floors, and tons of upgrades. The kitchen has a double oven, granite, cook top stove and more. Make sure you check out the pictures and see everything this home has to offer. Contact us to see it today at 303-726-1874.

You won’t find a better deal on a Parker home and with the short sale negotiations almost complete, you can close by the end of the year!

The Villages of Parker:

Sometimes agents use the word “remodeled” very loosely. A Seller puts in a few new appliances and suddenly the home is touted as being a “Remodeled Home;” that is not the case with this stunning townhome in Broomfield.

Our latest listing in the Sunridge Townhomes neighborhood is a true remodel and it is beautiful! A few of the highlights in this gorgeous home: granite counters, stainless steel appliances, tile and wood floors, crown molding, newer carpet, designer paint and more. The home backs up to open space and is everything you’ve been looking for.

Priced at just $189,500, we are expecting heavy interest. If you’d like to see it, call one of our agents today at 303-726-1874.

Sunridge Townhomes:

2006 sunridge circle broomfield, CO 80020 Sunridge $189,500.00

Beds: 2      Fin Sq Ft: 986 Baths: 2     Year: 1986 # of Photos Avail: 22 V-tour Available:  No MLS #: 1247390 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks:  stunning remodel!!granite countertops,stainless steel appliances, backsplash,tile floors,crown molding,wood floors and n… more…

Shelbi Harris on our team just listed a fantastic brick ranch in Thornton. The home boasts a remodeled kitchen, three bedrooms, two baths, formal dining room with hardwood floors, a huge yard and a carport and RV parking!

Located just south of Thornton Pkwy a half mile east of I-25, this ranch offers easy access to I-76 and Highway 36. Just 15 minutes t downtown, this home offers everything you want and it’s priced at just $160,000!

Thornton Homes:

9411 rose court thornton,CO 80229 $160,000.00

Beds: 3      Fin Sq Ft: 1176 Baths: 2     Year: 1955 Acres:0.15 # of Photos Avail: 25       V-tour Available:  No MLS #: 1247106 Status: active Listing Office: mb the brian petrelli team

Broker Remarks:                      Very Nice Starter Home Well Maintained 3bed 2 Bath Master Bedroom With Master Bath.Open Floorplan Remodeled Kitchen With All Appliances With 42′ Maple Cabinets. Evap Cooler Newer Hot Water Heater Formal Dining Room With Hardwood Floors Large Living Room. Plenty Of Parking Carport and Rv Parking. Huge Fenced-In Yard With …

A three bedroom single family home in this area of Thornton for under $200,000 is a fantastic deal and we expect to see heavy activity on this listing. If you, or someone you know, is looking in the north Denver area, check this home out. It is close close to Commerce City and Northglenn, so if you are looking in those areas, this great house may be worth considering. 

About a mile east of Mainstreet in Parker is the incredibly popular Villages of Parker neighborhood. Homes in this area start in the low $200’s and reach the mid $500’s for larger homes of over 4,000 finished square feet. It’s central location and close proximity to everything that Parker has to offer make it a great area for all ranges of buyers.

Yesterday, Mike Biesboer on our team listed a stunning 3 bedroom, 3 bath home with a walkout basement and an oversized garage in The Villages of Parker. With the high demand this area is experiencing, we expect this home to sell quickly. If this is an area of Parker you are interested in, give our team a call to schedule your private showing today at 303-726-1874.

Parker Homes:

22159 wintergreen way parker, CO 80134 $292,500.00

Beds: 3      Fin Sq Ft: 1620 Baths: 3     Year: 2000 Acres:0.15 # of Photos Avail: 1 V-tour Available:  No MLS #: 1246787 Status: active Listing Office: mb the brian petrelli team

Broker Remarks:  stunning home with large deck & views in great condition! larger walkout basement to large beautiful yard! oversize gara… more…

The market for single family homes in Parker is still very much a sellers’ market. Homes are moving quickly and supply is limited. In addition, the total supply of Parker foreclosures currently stands at just 11. This is a drastic reduction from years earlier and is forcing many investors into the “normal” resale market, further reducing supply. Give us a call for more information. Many of our agents live in the Parker area and are intimately familiar with the market.

The Southbridge Townhome complex in central LIttleton has always been a popular neighborhood in high demand. With the rebound in the housing market over the past year, this area has seen an influx of buyers and finding a home on the market here is challenging. 

That’s why we were excited to see HUD release a 2 bedroom, 4 bath townhome in this complex this morning. Not only is it the only foreclosure in the complex, it is the only active listing! This is an amazing opportunity. The home has well over 2,100 finished square feet, two master suites, an attached 2 car garage.

We anticipate multiple bids for this home, so if you think you may be interested, give us a call today and we can explain the bidding process on Denver HUD homes and how it differs from traditional sales and other foreclosures.

This is truly a rare opportunity for a Littleton townhome, so don’t wait!

Southbridge Littleton Foreclosure:

HUD Owned Home 249 west jamison circle littleton 80120 $208,000.00

Beds: 2      Fin Sq Ft: 2124 Baths: 4     Year: 1996 # of Photos Avail: 25 V-tour Available:  No MLS #: 1245941 Status: Active Listing Office: savannah heights realty llc

Broker Remarks:  this is a wonderful two story town home with a nice open floor plan that is perfect for entertaining. this home includes…more…

The market data for Denver Luxury homes continues to impress. With the data from October just coming in, it looks like sales of Luxury homes in the metro area are up 35% year over year. This is great news and surpasses the overall market in terms of a percentage increase (20.6% increase in overall sales compared to last year).

Insiderealestatenews.com has details on the full report:

Luxury home sales in the Denver area dipped on a year-over-year basis in October for the first time this year.

A report by Kentwood Real Estate showed that 52 homes priced at $1 million or more closed in October, a 7.1 percent drop from the 56 in October 2012.

By contrast, the overall market saw sales rise by 13 percent in October from a year earlier.

However, in the first eight months of the year, luxury home sales are up 34.6 percent, compared with a 20.6 percent rise for the entire market.

Through October, well-heeled consumers bought 591 luxury homes in the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson.

During the same period last year, buyers bought 439 luxury homes.

The year-to-date dollar volume showed a similar trend, rising 32.9 percent to $896.6 million from $674.6 million.

In October, the closed volume was $77.2 million, down 6.1 percent from $82.2 million in October 2012.

This is just the latest in a long string of positive news for luxury homes in Denver. We will continue to watch the numbers as they are reported by other companies such as CaseSchiller, etc.

In the meantime, we continue to stress that your local market may be quite different. Each neighborhood can have its own ups and downs. For a detailed report on your area or neighborhood, contact us today at 303-726-1874 and we can run a full report for you.

The numbers for Denver Homes continue to remain positive. We have been reporting the numbers from the Denver MLS, but yesterday, CoreLogic released their latest statistics for the metro area and we wanted to highlight them here.

The latest numbers are for September and they show a 10.2 percent increase in prices from September of last year. These number include distressed homes in Denver (short sales and foreclosures) but the full report gives data for numbers without factoring in distressed homes.

From The Denver Business Journal:

Home resale prices in the Denver metro area rose 10.2 percent in September from the same month of 2012, CoreLogic Inc. said Tuesday in its monthly Home Price Index report.

Month to month, prices in the Denver-Aurora-Broomfield area, excluding Boulder County, slipped 0.1 percent from revised August levels, CoreLogic said.

Those price comparisons included sales of “distressed” homes — generally those sold by a bank or lender after a foreclosure. Excluding distressed sales, resale prices rose 9.5 percent year over year in metro Denver and were flat between August and September 2013.

The flattening out of numbers from August to September could be seasonal, or it could show a slightly slowing market. We’ll continue to watch data reports from all sources and keep you updated here. In the meantime, if you would like to talk to one of our agents, you can reach us at 303-726-1874.

One of the most popular neighborhoods for Broomfield homes is the Broomfield Heights area located just north of 120th and a half mile east of Highway 36. The ease of access to 36 makes this a great location for buyers needing a quick commute to downtown Denver of Boulder and the price point of these homes (low to mid $200’s) means the demand for the area is always high.

Yesterday, HUD released a 2 bedroom, 2 bath home with close to 1,800 finished square feet for just $215,000 making it the lowest price home in the neighborhood. We anticipate several bidders on this home, so if you are the least bit interested, give our team a call at 303-726-1874 and we can get you in to see the home before the bidding process ends in 8 days.

Broomfield Heights Homes:

785 west 6th avenue broomfield, CO 80020                                                                         Broomfield heights $215,000.00

Beds: 2      Fin Sq Ft: 1762 Baths: 2     Year: 1960 # of Photos Avail: 10 V-tour Available:  No MLS #: 1245619 Status: Active Listing Office: alpine realty

Broker Remarks:  amazing spacious hidden gem. this wonderful brick home in broomfield has so much room it reminds you of a clown car. you.. more…

As with all Broomfield foreclosures, we expect a lot of activity on this home – especially with its relatively low price for such a large home. If you would like to learn more about HUD homes in Denver, the bidding process for HUD homes are have any other questions, give us a call today.

Denver HUD homes eligible for investor bids have become incredibly rare over the past several months. Typically, HUD homes receive multiple bids from owner occupants during the initial 10 day bidding period and never make it to Investor bidding. That’s why we want to make sure you investors out there see this opportunity to buy and Aurora Foreclosure from HUD.

This townhome is located in Deer Pointe Village just east of Horseshoe Park off of Buckley Rd. The location could make for a great rental investment. This townhome has 2 beds plus a loft, 3 baths and well over 1,500 finished square feet. This is a unique style home with no attached neighbors, so take a look before it’s gone.

Deer Pointe Village:

HUD Owned Home 1850 South Quintero Way Aurora 80017   $119,800.00 Est $

Beds: 2      Fin Sq Ft: 1533  Baths: 3     Year: 1985  # Of Photos Avail: 22  V-Tour Available:  Yes  MLS #: 1220925  Status: Active  Listing Office: Keller Williams Dtc

Broker Remarks:  Hud Home, Sold As Is W/No Warranties. Hud Case # 052-526679. Bid Deadline Daily @ 11:59 Pm. Open To All Bidders. Shar… More…

The process for purchasing a HUD in home in Denver is much different than other resales or bank owned homes. For a detailed description on the process, and to learn why investors usually don’t get an opportunity to bid on HUD homes, call one of our HUD experts at 303-726-1874.