The Brian Petrelli Team Blog

The market for HUD homes in Denver is tight. There are currently only 36 active single family HUD homes in the Denver MLS. What a change from just a year ago.

As we heard into the weekend, we wanted to draw your attention to some of the best homes in the HUD inventory. These homes are all available for bidding now and bidding for each closes on different days, so visit our website for the details or give our team a call for more information.

Cherrywood Park: 

Great opportunity in the Cherrywood park neighborhood in Thornton. 3 bedrooms, 3 baths and nearly 2,600 finished square feet! All of this for under $230,000! If you are looking for a deal on a foreclosure in Thornton, this has to be on your “Must see” list!

HUD Owned Home 13933 harrison st thornton 80602 $227,000.00 est $

Beds: 3 Fin Sq Ft: 2585 Baths: 3 Year: 2002 Acres:0.11 # of Photos Avail: 1 V-tour Available: No MLS #: 1221491 Status: Active Listing Office: mb denver colorado realty

Broker Remarks: move in ready split level home with basement. 3 beds and two full baths up with master suite and 1 egress 4th bedroom in… more… Click Here For Full Details & Pics Disclosures

New England Heights:

This is the best opportunity on any of the available foreclosures in Aurora that we have seen in the past week. Three bedrooms, 2 bathrooms, and over 1,800 finished square feet all in the popular New England Heights neighborhood. 

This is a ranch home on a big corner lot and is in good condition for a HUD owned home. Bidding is almost up on this one, so don’t wait to give us a call.

HUD Owned Home 2201 emporia st aurora 80010 $115,000.00 est $

Beds: 3 Fin Sq Ft: 1860 Baths: 2 Year: 1952 Acres:0.15 # of Photos Avail: 18 V-tour Available: No MLS #: 1219739 Status: Active Listing Office: diamond realty

Broker Remarks: fabulous hud owned ranch in convenient location on a large corner lot with amazing mature landscaping. the exterior has … more… Click Here For Full Details & Pics Disclosures

With only 36 active HUD foreclosures on the market, the competition is heavy, but with our expertise, we can help you make winning bids and make one of these houses you new home. Call us at 303-726-1874 to get started.

For many years, we have kept a Colorado HOA list on our website to try to create a convenient place for buyers, owners, title companies and real estate professionals to get contact information for HOA management companies. It seems as if the state of Colorado has finally done the same thing.

The new law took effect last week requiring annual updates from every HOA management association at the Colorado Real Estate Commission’s website. HOA companies also have 90 days to update once any changes are made.

More information from The Denver Business Journal:

Colorado’s Division of Real Estate reminds homeowners associations (HOA) that they now must register annually with the division to comply with a new state law.

All HOAs organized under the Colorado Common Interest Ownership Act are required to register annually with the Division of Real Estate’s HOA Information Office and Resource Center, including those HOAs formed before July 1, 1992.

The requirement went into effect Aug. 7 under a law, House Bill 1134, passed by the state Legislature this year. Prior to the passage of HB 1134, HOAs formed prior to July 1, 1992, didn’t have to register.

It will be interesting to see how up-to-date this list is kept and if all of the HOAs in Colorado register – especially the smaller, self managed HOAs.

As aways, if you’d like your information updated on our website, just send us an email. Our list has been around a lot longer than the state’s 🙂

Located equal distance between I-225 and E-470 off of Buckley Rd, Deer Pointe Village Aurora condos are ideally located to offer not only an easy commute to anywhere in the Denver area, but also in a prime location near several parks and shopping centers.

HUD just announced a new offering in this great neighborhood. While the complex says “condos” this particular unit is a cluster style home with no attached neighbors, giving you the feeling of a single family home with no yard maintenance. Enjoy the great amenities and your own private, fenced backyard.

With over 1,500 square feet, two bedrooms plus a loft, three baths a fireplace and plenty of light, bright space, this is a tremendous opportunity to buy in this great area for under $140,000.

Aurora foreclosures are selling quickly, so if you;d like to take a private tour of this home before it’s gone, call our team at 303-726-1874 today.

Deer Pointe Village Aurora Condos:

HUD Owned Home 1850 s quintero way aurora 80017 $136,100.00

Beds: 2 Fin Sq Ft: 1533 Baths: 3 Year: 1985 # of Photos Avail: 22 V-tour Available: No 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 8/23/13 @ 11:59 pm-daily thereafter. investo… more…

If this style home interests you, make sure you check out all of the available Denver patio homes on our website. THis style of home is becoming increasingly popular for those looking for a single family home with much less outdoor maintenance.

Keep in mind that this home is one of several Denver HUD homes and has a unique bidding process. Call our experienced HUD agents today for details on bidding time lines and procedures.

More good news for the Denver housing market as the number of Colorado Foreclosures dropped by 49.5% over the past year, This decline in Colorado Bank Owned homes is one of the major reasons that housing inventory has been struggling to keep up with demand over the past 9 months. If you are in the market as a buyer for Denver homes, then you know just how much this decline is affecting the market.

From The Denver Business Journal:

Colorado’s foreclosure-filing rate in July dropped 49.5 percent from July 2012 and 10.8 percent from June 2013, according to RealtyTrac’s monthly foreclosure report, released late Wednesday.

Colorado had 1,451 properties with foreclosure filings in July, or one in every 1,515 households, said RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

The state had the 26th highest foreclosure-filing rate in the nation last month.

This severe drop in foreclosures is hurting investors in a big way. In the past, most investors looking at Denver fix and flip homes would purchase predominately foreclosed and bank owned. These homes tend to have the most potential upside for investors looking to update, repair and resell. With this drop off in Colorado Bank owned homes, the available homes for these types on investors has been slashed in half leaving the same pool of investors looking for homes. A classic case of demand outweighing supply.

Because of the lack of available foreclosures, many of these investors have moved into other types of homes (traditional resale Denver homes, etc) and have put more pressure on homes that typically would have been purchased by the owner occupant market. This is just one of the many factors driving the demand side of the Denver housing market.

We’re seeing the same thing in the market for Colorado Springs homes and Colorado Springs foreclosures. The number of homes available is nowhere near what buyers are demanding.

Very rarely do Denver HUD homes come on the market in the very popular Highlands neighborhood in Denver. But this morning when we ran our daily HUD home search, we saw this listing and knew we had to post it immediately.

As with all Denver HUD homes, this home will be available for viewing and bidding for the next 9 days. At that time , HUD will choose the “best” bid. We anticipate many bids on this home, so if you think this may be the one for you, call us so we can help you make a strong bid and give you the best chance of owning this rare opportunity.

This home has 3 bedrooms, more than 1,200 square feet, the original wood floors and is full of character (Check out the trim on the fireplace in the photos).

As we mentioned, HUD homes very rarely become available in this highly sought after neighborhood, so if you are in the market for Denver homes,  don’t let this opportunity slip by. Call our team today at 303-726-1874 to see this home.

Highlands Denver Homes:

HUD Owned Home 3109 w 38th ave denver 80211 $280,000.00

Beds: 3 Fin Sq Ft: 1218 Baths: 1 Year: 1910 Acres: # of Photos Avail: 10 V-tour Available: No MLS #: 1220473 Status: Active Listing Office: denmon realty

Broker Remarks: popular ‘highlands’ neighborhood. original wood floors, lots of character. case number- 052-499972 ‘hud homes are sold a… more…

It’s no suprise to anyone in the market for Littleton homes for sale that prices have risen a great deal over the past 6-12 months. We’re seeing roughly 10% year-over-year appreciation and there are no signs of that slowing down.

The latest report from Zillow shows this tren over the past 10 years. Even with the price spikes in 2008 and the beginning of 2010 and the lows of 2009 and 2011 (see chart) and steady trend of rising prices for Littleton homes is evident.

THe chart below shows the median sales prices for Littleton homes for sale over the past 10 years and encompasses not only single fmaily houses, but also Littlton condos and townhomes. All types of sales (including Littleton foreclosures) are factored into this report and the data is from every neighborhood in the city.

If you would like a detailed report for your neighborhood or a neighborhood you are considering purchasing in, call our team today at 303-726-1874.

 From Zillow:

 The sales prices for Highlands Ranch homes have almost recovered to the highs reach at the end of 2009 according to Zillow. The chart below lays out the median sales prices for all Sales tracked by the popular website and shows the most recent sales prices roughly $10,000 away from the record highs seen in December / January of ’09. 

Keep in mind that these figures take into account all Highlands Ranch homes, including Highlands Ranch foreclosures and Highlands Ranch condos and townhomes.  The drastic decline we have experienced in foreclosures over the past year may explain much of these price gains, but the high demand over the past 9 months is a big factor.

These numbers are for the entire Highlands ranch area. If you would like a report for a specific area or neighborhood, give our team a call at 303-726-1874. 

 From Zillow.com: 

We have several clients looking at Thornton foreclosures so we were thrilled this weekend when HUD released a 2 bedroom home in the Grange Creek Thornton neighborhood.  This is a smaller home (970 sq ft) but this great ranch home has amazing views and is priced at only $145,000.

The Grange Creek area is located east of I-25 off of 122th ave. This easy access to major highways and the ideal northern Denver location make this neighborhood very popular for buyers looking at Thornton homes for under $250,000.

HUD has allowed bidding on this home for the next 8 days, so if you are interested in seeing it or making a bid, call our HUD experts at 303-726-1874. We can advise you on how the HUD bidding works and how it differs from other Thornton foreclosures and resale homes.

Grange Creek Thornton Homes:

HUD Owned Home 11122 albion ct thornton 80233 $145,000.00

Beds: 2 Fin Sq Ft: 970 Baths: 2 Year: 1974 Acres: # of Photos Avail: 25 V-tour Available: No MLS #: 1219734 Status: Active Listing Office: keller williams realty down…

Broker Remarks: opportunity! opportunity! opportunity! cute ranch home with beautiful mountain and flat iron views! located on quiet cul… more…

The number of Denver HUD homes on the market has dropped substantially over the past year. Competition is fierce for the few homes that do hit the market, so if you want to win a bid, make sure you are working with a team that knows the system.

HUD has recently listed this great single family home in the Rampart Meadows Colorado Springs area. This great home offers 3 bedrooms, 2 baths and nearly 1,500 square feet. With a 2 car garage, great deck in the back yard and a formal dining room, this is a great deal at just $170,000.

Rampart Meadows is located just east of Rampart Park off of Lexington Dr north of Woodmen Rd allowing easy access to I-25. With Cottonwood Creek Park nearby, this is a great area and, as with most Colorado Springs Homes, we expect to see this home move quickly. If you would like to see it while it is still available, call our team at 719-641-4209 today.

Colorado Springs Foreclosures:

7975 belford dr colorado springs 80920 $170,000.00

Beds: 3 Fin Sq Ft: 1498 Baths: 2 Year: 1983 Acres:0.144 # of Photos Avail: 18 V-tour Available: No MLS #: 758268 Status: Active Listing Office: westfall & co. mktng & mgmt gr

Broker Remarks: ** hud owned**sold as-is ** great starter home or investment property. this bi-level home offers a living room, dining… more…

The market for Colorado Springs foreclosures is highly competitive. if this is an avenue you want to pursue, call our team and have us set you up on alert emails for the Colorado Springs neighborhoods you are interested in so you don’t miss out on any opportunities.

Darcy Truppo on our team just listed this great Aurora home for sale. This remodeled ranch house has a new kitchen, new furnace, new paint and an updated bathroom. With a huge lot and a one car garage, this home is priced incredibly well at $120,000.

Located just south of the popular Stapleton Homes area, this home is easy walking distance to several parks and shopping. At this price, a home in this condition will not sit on the market long, so if you would like to take a look, contact one of our agents at 303-726-1874 today. We don’t expect this home to last through the weekend.

Aurora Homes for Sale:

1701 alton st aurora 80010 $120,000.00 est $

Beds: 2 Fin Sq Ft: 735 Baths: 1 Year: 1946 Acres:0.15 # of Photos Avail: 7 V-tour Available: No MLS #: 1218904 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: beautifully done remodel – new kitchen, furnace, carpet, paint, updated bath! great starter or rental home near new hos… more…

The market for Aurora homes is smoking hot. If you are looking in this area, especially for homes priced under $200,000, or Aurora Foreclosures, make sure we have you set up on a daily email alert so you don’t miss the best homes as they hit the market.