The Brian Petrelli Team Blog

The market for Colorado Springs foreclosures is seeing increased competition – this time from out of state investors according to the Colorado Springs Business Journal.

While this increased activity is happening at the local sales level (prior to a home being listed to the general public), the increase in sales is having a negative effect on the overall inventory. We’ve seen the foreclosure market tighten up over the past year and it remains to be seen just how this increased competition will impact the  overall market for Colorado Springs Foreclosures.

Some Key Bits from the Colorado Springs Business Journal:

Local investors are now competing against institutional money at the El Paso County Public Trustee’s foreclosure sales.

Two out-of-state investors have been bidding on foreclosures at the local sales. Colony American Homes, an Arizona-based unit of Colony Capital LLC, headquartered in Santa Monica, Calif., buys homes and rents them out while they appreciate. Granite Ranch Opportunities, a California company that remodels homes and resells them, made a splash when it bought nine properties at the Dec. 6 county foreclosure sale.

and:

With more activity at the auctions, it’s not surprising that a greater percentage of foreclosure sales have gone to investors. In a normal market, about 5 percent of sales go to investors, Mowle said, and the rest are sold back to the bank that previously loaned on them.

In October, nearly 10 percent of local foreclosure sales went to investors. In November and December, more than 15 percent went to investors. In January and the first two weeks of February, more than 20 percent sold to investors.

Read the entire article. It’s interesting to see how a few investors can impact the market. It also can give you a good overview of how the entire foreclosure process works.

We are still finding some good deals for our clients on HUD homes and Foreclosures, but you need to be ready and able to move quickly and make strong bids. If you would like to learn more about the process, call our team at 719-641-4209.

A reminder, if you are an investor, don’t rule out tradition Colorado Springs homes (non-foreclosure / HUD). There are some good deals on regular sales and Short Sales, you just need the right agent finding you the best deals.

The number of sold Luxury homes in Denver showed another year-over-year increase in January. This is more good news for the segment of the Denver market that has been the slowest to show signs of recovery.

According to the report, the days on market time for a home to sell was reduced and the Sellers received a price closer to their list price.

From The Denver Post:

We’ve seen mixed number on the Luxury market for Denver homes. It’s encouraging to see a continued uptick in sales. We will continue to update you with the latest reports here. In the meantime, if you would like numbers for a specific area or neighborhood, give our team a call at 303-726-1874.

We’ve had several calls on some of the Colorado Springs foreclosures that just hit the market this weekend. One of the best deals we have come across is this new HUD listing in Claremont Ranch.

This large, 3 bedroom, 2 story home sits on a large corner lot and has over 2,200 square feet. With walk in closets, a master bedroom suite, 2 car attached garage and covered front porch, this home is a tremendous value at just $150,000.

The Claremont Ranch neighborhood is located just off of Marksheffel Rd, west of Jimmy Camp Creek Park. This popular area offers easy access to Peterson Air Force base and the surrounding area.

With the market picking up, don’t wait too long to schedule a time to see this home. You can call us at 719-641-4209 to see it today.

Claremont Ranch:

2290 streambankdr colorado springs 80951 $150,000.00

Beds: 3 Fin Sq Ft: 2225 Baths: 3 Year: 2005 Acres:0.148 # of Photos Avail: 16 V-tour Available: No MLS #: 742042 Status: Active Listing Office: prudential rocky mountain

Broker Remarks: nice, newer 2-story design home on large, corner lot in desirable claremont ranch. floor plan is functional and feature… more…

The market for Colorado Springs homes is getting stronger. With the market for Colorado Spring foreclosures and short sales getting tighter, don’t wait to see, and bid, on HUD homes.

Our team has been busy this week showing several clients the available Aurora foreclosures. The market is moving fast, and the HUD homes in the area are receiving multiple bids – many times above asking price.

We wanted to bring this home in Brookvale to your attention this morning. Bids for owner occupants are due by midnight tonight, and this home is priced incredibly well at just $148,000. The kitchen has stainless steel appliances, the home is over 2,200 square feet, sits on a cul–de-sac and has 4 bedrooms. If you are looking at homes, then you know you won’t find an Aurora home with more for the money.

If youa re at all interested, do not wait. Call our agents today and we can get you inside it this afternoon so you can get a bid in on time. You can reach us at 303-726-1874.

Brookvale Aurora Homes:

HUD Owned Home 1118 s kalispell way aurora 80017 $148,000.00

Beds: 4 Fin Sq Ft: 2241 Baths: 3 Year: 1980 Acres:0.16 # of Photos Avail: 5 V-tour Available: No MLS #: 1161328 Status: Active Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-464856. bid deadline 2/25/13 @ 11:59 pm-daily thereafter. invest… more…

Denver HUD homes are moving very fast. The bis process is different than other banks and agents must be registered with HUD to make a bid. Not all agents can help you with these special homes, so call our team today and get the information and expertise to help you make a winning bid.

If you have been looking for a ground floor, one bedroom Littleton condo, this is the home you have been waiting for!

Just listed today by Jan Phillips on our team, this perfect unit is located in the Redstone Ridge Condos Complex just north of C-470 on Kipling. The unit shows like new, has a living room fireplace, walk in closets and a car port. The back patio looks out over open space – you will not find a ground floor condo in Littleton with nicer views!

We have already had some interest in this home, so if you are interested in seeing it, call us today at 303-726-1874 and we can show it to you before it’s gone.

Redstone Ridge Condos:

9518 w san juan cir littleton, CO 80128 $118,000.00

Beds: 1 Fin Sq Ft: 923 Baths: 1 Year: 2003 # of Photos Avail: 5 V-tour Available: No MLS #: 1162580 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: this one bedroom ground floor condo is in perfect condition, just like new. fireplace in living room with an excellent v… more…

This is the lowest priced ground level condo available in Littleton. At this price, it will move quickly, so don’t delay.

If you are interested in seeing other Littleton townhomes or condos, give our team a call today. The market is moving quickly and ground level units are in strong demand.

As we were looking over the latest Colorado Springs foreclosures released by HUD, this latest offering stuck out from the rest. This is a ranch home with handicap features in the sought after Chateau at Antelope Ridge neighborhood.

Unlike typical HUD homes, this listing has new carpet and new paint. With 3 beds, 2 bathrooms and over 1,100 square feet, this is a terrific find in this area. And the price? An incredible $64,900!

There are few pictures provided, so if you would like more information, or would like to schedule a time to see this home, give us a call at 719-641-4209. Ranch homes in this area move quickly, so don’t delay.

Chateau at Antelope Ridge:

There are still some great deals on Colorado Springs foreclosures. If you are looking at Colorado Springs homes, don’t dismiss the idea of a short sale or foreclosure. Many of these homes are in great shape, and the value can be tremendous. Call us today for more information.

We are excited to announce this amazing home in the Chatfiield area, located on 3 acres in the heart of Littleton!

Listed by Darcy Truppo on ou team, this 2,500+ square foot home is truly a rare find. Homes with acreage in the Littleton area are few and far between, and this home has 3 full acres! In addition, this home backs up to an additional several acreas of open space.

Located near the intersection of Coal Mine Ave and Kipling, you are truly minutes from everything you could want: shopping, C-470, Chatfield State Park and so much more. The home itself offers great mountain views, newer windows and a newer roof. Check out all of the photos on our website.

Give our team a call today at 303-726-1874 to see this amazing home for yourself.

Chatfield Home For Sale:

9830 old coal mine ave littleton 80128 $650,000.00

Beds: 3 Fin Sq Ft: 2544 Baths: 3 Year: 1971 Acres:3 # of Photos Avail: 5 V-tour Available: No MLS #: 1161963 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: horses ok in this 3 acre island of country close in to shopping, c470 health care. backs to several acres of open space… more…

If you are looking for homes in Denver with acreage, the choices keep getting smaller. Whether you need land zoned for horses or just want the extra space, call our team of specialists and let us find the right location with land for you.

Jacy Bowers on our team just listed this meticulously maintained tri-level in the Smoky Hill neighborhood in Centennial.

This homes is in fantastic shape and will not disappoint. This house has new carpet, new paint, newer roof, newer windows, and upgraded central a/c system and so much more. With a large backyard, wood stove and fireplace, you need to see this home before it is gone.

The Smoky Hill neighborhood is located just east of Cherry Creek State Park and south of Quincy Reservoir. The area offers easy access to both I-25 and I-225.

New Listing in Smokey Hill:

17365 e belleview pl centennial 80015 $187,500.00

Beds: 3 Fin Sq Ft: 1541 Baths: 2 Year: 1979 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1161291 Status: Active Listing Office: mb the brian petrelli team

Broker Remarks: well cared for home with new carpet, new paint, newer roof and windows. upgraded central air system. you’ll see that thi… more…

As with most Centennial homes priced under $250,000 we expect this home to sell very quickly. Showings start today, so if you’d like to see it, call us now at 303-726-1874.

In addition to this home, we can show you several Centennial foreclosures and some short sales in Centennial that are a tremendous value. Call us today.

Our team recently listed a home in The Villages Highlands Ranch. This is an incredibly popular neighborhood of Patio Homes in the west section of Highlands Ranch. Homes do not come up for sale often in this great neighborhood, and when they do, they typically sell very quickly.

We listed our most recent listing on a Thursday, and by Friday, we had 2 offers and were under contract at full price. If you are interested in this neighborhood, make sure you contact us and let us know. We typically have buyers waiting for homes to become available, and the people who contact us will be able to see any new listings the day they come on the market.

There are very few neighborhoods that offer Highlands Ranch patio homes and The Villages are the most affordable. We have compiled the latest market statistics here so you can see just how few have sold over the past 12 months. If you would like more detailed information on these homes, just let us know.

The Villages Highlands Ranch

Sold Homes:

Based on information from Metrolist®, Inc. for the period February 2012 through February 2013 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.

Again, if Highlands Ranch Patio Homes are of interest to you, let us know. We typically know of new listings before they hit the market and can help you see them before anyone else. As with most Highlands Ranch homes under $300,000, these homes are selling very, very quickly in this market, so don’t wait to let us know what you are looking for.

Some more incredibly positive news was released on Tuesday. This time, the report originated directly from the Colorado Division of Housing and detailed the number of Colorado Foreclosures sold at auction during 2012. The numbers were dramatic.

According to the report, the number of Colorado foreclosures in 11 of the 12 metro counties in the state showed year-over-year declines. the only metro area that did not show this improvement was the Pueblo County area. This is great news for the Denver and Colorado Springs areas as Denver foreclosures and Colorado Springs foreclosures were down significantly.

From the Denver Business Journal:

New foreclosure auction sales of homes in Colorado were down nearly 19 percent in 2012 from the year before, with 11 of the state’s 12 metropolitan counties reporting year-over-year declines, according to a report released late Tuesday by the Colorado Division of Housing.

Colorado had 15,903 foreclosure auction sales, or completed foreclosures, in 2012, compared with 19,617 in 2011, the report said.

In the fourth quarter alone, foreclosure auction sales dropped 7.3 percent to 3,706, versus 4,057 in the fourth quarter of 2011.

New foreclosure filings also fell in 2012, declining 10.6 percent to 28,579 from 31,975 in 2011. Foreclosure filings in the fourth quarter were down 33.4 percent, falling to 5,685 from 8,540 in the same period of 2011.

As always, the foreclosure numbers for individual cities and neighborhoods varies. If you would like a detailed report on a specific area, call our team. We’ll show you not only how many foreclosures have been sold in an area, but how those sales are affecting home values and how they look to impact resale value down the road.

Even in this improving market, appraisers are still hesitant to discount foreclosures too heavily and we still have to fight to show values in some instances. If you are thinking of entering this market, make sure you have an experienced team behind you! Our team has extensive experience with foreclosures across the front range. Denver foreclosures and Colorado Springs foreclosures can be very different. Let us show you what to look for and how to make winning bids!