The Brian Petrelli Team Blog

More good news for homeowners came out in the latest CoreLogic report for Denver homes. This month’s data shows that home prices have increased in prices by 10.7% year over year in May 2013 vs May 2012. This double digit increase is in line with every other major report available and continues the trend of 16 months in a row that Denver homes have seen a year-over-year increase in prices.

While this is good news for homeowners, this consistent increase in prices should be making buyers take notice. If you are a buyer thinking of waiting for a year to buy a home so you can save some extra money, make sure you are factoring in significantly higher prices 12 months down the road. While there is no guarantee that prices will continue to rise, a 10% price increase over a 12 month period could make the home you could buy today a home you won’t qualify for in a year.

If you would like to run numbers or talk more about a specific neighborhood, give our team a call at 303-726-1874 today.

More details from The Denver Business Journal:

Home prices in metro Denver saw double-digit percentage price increases in May, according to a CoreLogic Inc. report released Tuesday.

It was the 16th month in a row that metro Denver home sale prices saw a year-over-year increase.

In the metropolitan statistical area (MSA) of Denver-Aurora-Broomfield, home prices — including distressed or REO sales — increased by 10.7 percent in May over the month in 2012. That was also a 1.6 percent increase month-over-month increase from April. Without REO properties, May prices increased 10 percent year over year and 1.3 percent month over month.

Nationally, home prices grew at a rate not seen in seven years, according to the report. CoreLogic’s national home price index saw a 12.2 percent jump in May compared to May 2012 — the biggest year-over-year increase since February of 2006.

Littleton foreclosures have been scare. As with the overall inventory of Littleton homes, the number of foreclosures is a fraction fo what it was several months ago. Because of this lack of inventory, when a new home hits the market, the activity is usually heavy and we expect this latest offering from HUD to be no different.

Located in the Foothill Green Littleton neighborhood near Kipling and Bowles, this 3 bedroom, 2 bath home has over 1,600 square feet, an updated kitchen, newer windows, newer exterior paint, covered patio and a shed. HUD homes in this condition don’t come along often, so if you are in the market for Littleton homes, make sure you give us a call to take a look at this home before the 10 day bidding period is over/

Foothill Green Littleton Homes:

HUD Owned Home 5771 s lewis st littleton 80127 $213,000.00

Beds: 3 Fin Sq Ft: 1603 Baths: 2 Year: 1977 Acres:0.18 # of Photos Avail: 10 V-tour Available: No MLS #: 1204032 Status: Active Listing Office: re/max professionals

Broker Remarks: nice two-story home with updated kitchen, newer windows, newer exterior paint, skylights, a/c, vaulted ceilings, cozy fi… more…

The number of Denver HUD homes has decreased drastically over the past 6-12 months. If you would like to talk with one of our HUD experts about the process or our strategies for making winning bids, give our team a call at 303-726-1874 today.

We’re showing several Denver HUD homes to our clients this weekend, and we wanted to highlight a few of our top picks here.

We try to highlight a few of the best HUD listings based on value, location and other factors. If you are looking in a specific area, give our team a call at 303-726-184 and we can send you a detailed report for the neighborhood and also set you up on a daily email alert so you don’t miss the newest listings as they hit the market!

Sherrelwood Estates Denver Homes:

HUD Owned Home 1860 pecos way denver 80221 $169,000.00

Beds: 4 Fin Sq Ft: 2203 Baths: 3 Year: 1961 Acres:0.17 # of Photos Avail: 21 V-tour Available: No MLS #: 1199858 Status: Active Listing Office: great way re exclusive prop…

Broker Remarks: buy me! ranch style home in wonderful area!finished basement*basement bedroom is non conforming*hardwood and tile floors… more…

Broomfield Heights Homes:

325 hemlock st broomfield 80020 $178,000.00

Beds: 4 Fin Sq Ft: 1733 Baths: 2 Year: 1958 Acres:0.19 # of Photos Avail: 17 V-tour Available: Yes MLS #: 1177397 Status: Pending Listing Office: re/max traditions

Broker Remarks: great potential on a quiet street in south broomfield. open and sunny tri-level home with nice separate of living space… more…

Columbine West Littleton Homes:

7077 w frost pl littleton 80128 $200,000.00

Beds: 3 Fin Sq Ft: 1583 Baths: 2 Year: 1973 Acres:0.16 # of Photos Avail: 20 V-tour Available: No MLS #: 1202768 Status: Active Listing Office: savannah heights realty llc

Broker Remarks: nice bi-level home located close to the foothills. this home is great for entertaining and has a wonderful updated kitch… more…

Remember, most Denver HUD homes have a 10 day bidding period, but not all. Give our team a call to find out the exact day bids are due and if a specific home is open to investor bids as well as owner-occupant bids.

We blogged earlier this week about our team’s newest listing in the Mission Viejo Aurora Homes neighborhood. Today, HUD released a great deal on a foreclosure in this same neighborhood and we wanted to highlight it here.

This latest offering by HUD is nearly 1,400 square feet, has 3 bedrooms, 2 baths, fireplace, large patio and much more. Mission Viejo is located north east of Quincy reservoir and is highly sought after for its central location and affordable prices.There is a ton of potential for this Aurora foreclosure and bids are due by July 6th.

As with almost all Denver HUD homes, this home is open for owner occupant bids for the first 10 days. After those 10 days, the “best” bid will be accepted. If no bid is deemed acceptable, HUD will release it to a daily bid schedule. Give one of our HUD experts a call to learn more about this home and the HUD process at 303-726-1874.

Mission Viejo Aurora Homes:

HUD Owned Home 4133 s ouray way aurora 80013 $140,000.00

Beds: 3 Fin Sq Ft: 1368 Baths: 2 Year: 1980 Acres:0.20 # of Photos Avail: 13 V-tour Available: No MLS #: 1202752 Status: Active Listing Office: elist realty llc

Broker Remarks: lots of potential in this 3 bedroom 2 bath home on large corner lot in mission viejo. property has a large eat-in kitche… more…

The market for Aurora homes is becoming more and more competitive. With the drastic reduction in inventory over the last few months, you need to be ready to move quickly when a home hits the market. Give us a call today to learn more about our winning strategies for HUD bis, Aurora foreclosures and homes in the entire Denver market.

Located just south of Sandstone Park off of Peterson Rd you’ll find the Village at Springs Ranch Condos. Smaller condos in the complex start in the low $100’s, but the larger, townhome style units can reach the low $200’s. It is one of these larger units that was just listed by HUD for only $155,000!

This home offers a great deal for anyone looking at Colorado Springs condos. While it does need some work, the upside potential for this home is big and the complex itself is hard to match. The clubhouse offers an exercise room, theater room, pool and spa. All this in a wonderful gated community.

Colorado Springs Condos in this price range are moving quickly, so if this is a home you are interested in, make sure you contact us before HUD bids are due on July 4th at midnight! You can reach our Colorado Springs team at 719-641-4209.

Village at Springs Ranch Condos:

HUD Owned Home 4367 alder springs vw d colorado springs 80922 $155,000.00

Beds: 2 Fin Sq Ft: 1639 Baths: 3 Year: 2004 # of Photos Avail: 22 V-tour Available: Yes MLS #: 798486 Status: Active Listing Office: cliff johnson rlty. inv./mb

Broker Remarks: cute 2-story unit in a great complex! you’ll love the large laundry room with lots of cabinets and a separate laundry si… more…

The market for Colorado Springs foreclosures is on fire. If you want to find the best deals, make sure you are set up on our email alerts so we can show you homes the day they hit the market. HUD homes are the only foreclosures that have a 10 day bid period. Most other Colorado Springs foreclosures open bidding immediately. Call us today to learn more!

As with every month for the past 15 months, the Case-Shiller Home Prices Index showed another year-over-year increase for prices on Denver homes. This month, as with every other month in 2013, the year-over-year increase was above 9% (9.9% in April). This continuews the trend we’ve seen in all of the major housing indexes over the past year and a half.

With the huge decrease in housing inventory and the rapid decrease in Denver foreclosures, the demand has far outstripped supply resulting in a sever uptick in prices. In addition, the fear of rising rates in the coming months has spurred many buyers to get into the market, driving prices up.

From The Denver Busineess Journal:

Denver-area home prices rose 9.9 percent in April from a year earlier, the 16th straight month of year-over-year price gains, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.

And the latest index report shows Denver home prices getting close to their 2006 all-time peak.

Denver so far has seen year-over-year price gains of 9 percent or more every month through April, according to data from the closely followed monthly real estate report series from S&P Dow Jones Indices LLC. (See the table at the end of this article for price trends back to 2010.)

Nationwide, home prices rose 12.1 percent in April from the previous year in the 20 large metro areas followed by the Case-Shiller report.

With prices forecasted to continue rising, waiting even a few months to buy a home or sell your current home and move up, can potentially cost you thousands of dollars. Give our team a call and we can run the numbers for you on specific neighborhoods and areas and help you make the best choice for your situation: 303-726-1874

Found between Buckly Rd and Chambers just north of Quincy, Mission Viejo Aurora is a highly sough after community in the centtral Aurora area. It’s prime location offers easy access to E-470m I-225 and  Cherry Creek reservoir. The fact that it is in the Cherry Creek School District adds to it’s highdesirability.

This weekend, Donna Jarock on our team listed a great 4 bedroom home with 1,8000 square feet. This home is a perfect starter home and offers plenty of room and a fantastic yard with plenty of room and large trees. With a newer roof, great front porch, laminate wood flooring and more, this home is a tremendous value at just $195,000.

If youa re interested in seeing this, or any of the other Aurora homes on the market, give our team a call at 303-726-1874 today.

Mission Viejo Aurora Homes:

4202 s laredo way aurora 80013 $195,000.00

Beds: 4 Fin Sq Ft: 1800 Baths: 2 Year: 1982 Acres: # of Photos Avail: 19 V-tour Available: No MLS #: 1201209 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: great starter home in mission viejo*cherry creek schools*4 bedroom*2bath*laminate wood flooring in kitchen and dining*vi… more…

We’re excited to announce that we will be listing a gorgeous home in the Ridgepoint at Bear Creek neighborhood at the end of this week. This amazing home sits high atop a hill and provides amazing views of the mountains and the city.

Inside, the home shines with granite counters, stainless steel appliances, Haywood floors, stunning vaults and a finished walk out basement. Words truly do not describe this home, so if you have been search for Lakewood luxury homes, you owe it to yourself to check out this wonderful home.

Call our team to schedule a private showing today before it hits the MLS: 303-726-1874.

Price: $549,900
Beds: 4
Baths: 5
Square Feet: 3,228 + 1,400 in finished walkout basement

V-Tour: http://tours.rstimmelphoto.com/public/vtour/display/52455

Absolutely stunning Lakewood home with unbelievable views! Home sits high on hill, backing to open space with views of the mountains and the city. Inside, the home is gorgeous: slab granite, Stainless steel appliances, hardwood floors, vaulted ceilings, 4 beds plus a loft upstairs. Downstairs you’ll find a fully finished, walk out basement with a wet bar and plenty of room. Make sure you view the v-tours and all the pictures to truly appreciate all this home offers!!

Some very positive news came out today from the Colorado Division of Housing regarding Colorado Bank Owned homes. Foreclosure filings for May of 2013 were half of what they were in May of 2012. On top of that, auction sales of Colorado foreclosures fell by nearly 25% as well.

This marks the lowest level for foreclosure filings in Colorado since 2007 and mirrors what our team has been experiencing across the front range as we struggle to find homes for our buyers.

From The Denver Business Journal:

New foreclosure filings in Colorado’s urban counties dropped in May to less than half their level of May 2012, the Colorado Division of Housing reported today.

And foreclosure auction sales dropped by 25.4 percent last month from a year earlier in urban counties, officials said.

Both foreclosure filings and sales are now at their lowest levels in Colorado’s metro areas since the state began tracking those numbers in 2007, based on a six-month moving average.

For the first five months of the year, foreclosure filings were down 43.4 percent from the same period of 2012 and foreclosure sales were down 29.4 percent.

“The decline in foreclosure activity has clearly accelerated since the beginning of 2013,” said Division of Housing economist Ryan McMaken. “And a downward trend is likely to continue as long as employment is stable and we continue to see low mortgage rates.”

The market for Denver foreclosures and Colorado Springs foreclosures has been fierce. Bidding wars are virtually guaranteed for most homes and you need to make strong offers and have a knowledgeable agent working for you. We are still seeing bank owned homes from HUD, Fannie Mae, Freddie Mac and other lending institutions, so make sure you have an agent that is familiar with the ins and outs of each bid submission process.

Give our team a call at 303-726-1874 (719-641-4209 in Colorado Springs) for a thorough explanation of the differences of each.

One of the most popular neighborhood for luxury Highlands Ranch Townhomes is the Tresana Community. This prestigious neighborhood has condos and townhomes ranging from the high $200’s to over $650,000. Late yesterday, in an incredibly rare occurrence, a HUD foreclosure came up in this neighborhood for one of the 1,415 square foot models.

This gorgeous luxury condo is not your typically HUD home. With granite counters, cherry cabinets, tile floors and a 5 piece master bathroom, this is an incredible find and we expect multiple bids over asking price. The good news is that with all Denver HUD homes, this home is only available to owner occupants for the first 10 days of bidding (no investors), so if you are looking to make the Tresana Highlands Ranch townhomes community your next home, this could be the incredible deal you’ve been waiting for. Call one of our agents today to see it: 303-726-1874.

Tresana Highlands Ranch:

HUD Owned Home 9359 loggia st highlands ranch 80126 $240,000.00

Beds: 2 Fin Sq Ft: 1415 Baths: 2 Year: 2008 # of Photos Avail: 10 V-tour Available: No MLS #: 1199198 Status: Active Listing Office: envision it sold, inc

Broker Remarks: gorgeous luxury condo in great condition! from entry, take stairs to living space on one floor! upgrades galore! tile fl… more…

Highlands Ranch townhomes and condos are moving quickly – especially the HUD and foreclosure listings. Give one of our experts a call so we can help you understand the HUD bidding process and give you the best chance to win the bid on this amazing luxury home!