The Brian Petrelli Team Blog

While the market for University Hills Homes is always strong, over the past few months we’ve seen a surge of homes in the area going under contract. Currently, there are 7 active listings in the neighborhood and an incredible 13 homes either under contract or “pending” final approval.

The University Hills area is situated in an ideal location that offers easy access to both the tech center and Downtown Denver. Nestled between Hampden and Yale, just west of I-25, the neighborhood surrounds Mamie Dowd Eisenhower Park and is situated next to the Welshire Golf Club.

As an established neighborhood, this area offers mature trees, large lots and plenty of character. Many of the homes in the neighborhood have been completely remodeled and offer features and amenities normally found in newer homes. The combination of location and character make this neighborhood one of the most popular areas for buyers looking at Denver homes.

Our team is working on bring a couple new listings to market in the amazing area. Stay tuned to our blog to be the first to see these homes when they hit the market. In the meantime, feel free to contact us at 303-726-1874 to learn more about everything University Hills has to offer.

As the market for Colorado Springs homes heats up, the number of permits for Single Family homes continues to rise. March marks the 15th straight month that the number of permits has increased and shows a nearly 33% increase from March of 2012.

From The Gazette:

Single-family building permits issued to area homebuilders in Colorado Springs and El Paso County totaled 227 in March, a nearly one-third increase over the same month last year, according to a Pikes Peak Regional Building Department report Monday. Permits now have increased for 15 straight months on a year-over-year basis.

For the first quarter of 2013, single-family building permits totaled 625, a 70.3 percent jump over the same period in 2012. It was the best first quarter for any year since 2007.

Read more: http://www.gazette.com/articles/year-152955-building-home.html#ixzz2PQUDvLsf

These are big numbers and point to a future supply coming into balance with the current high demand for Colorado Springs homes and Colorado Springs foreclosures.

As we have continued to post, the number of Colorado Springs foreclosures continues to dwindle as the demand for homes picks up. With inventory falling drastically, here’s hoping we see more new builds – and quickly.

If you would like detailed information on new home builds in a certain area of Colorado Springs or more information on new homes in Denver, give our team a call.

Located off of Centennial Blvd just south of Garden of the Gods Rd, the Holland Park neighborhood offers homes in the high $100’s to the low $200’s. Offering easy access to I-25 and an easy commute for those who need to travel to Denver frequently, homes in this neighborhood can sell quickly.

With the number of Colorado Springs foreclosures and HUD growing smaller by the day, we were excited to see this new listing come up in the Holland Park area. With over 1.500 square feet, 4 bedrooms, 3 baths vaulted ceilings and a fireplace, this home just needs a little TLC to shine.

This home will most likely sell quickly, so if this is an area or home you may be interested in, give us a call today to schedule a personal tour for yourself. With the market for HUD hoes picking up, this home will not last long.

Holland Park Colorado Springs:

1155 valkenburg dr colorado springs 80907 $180,000.00

Beds: 4 Fin Sq Ft: 1524 Baths: 3 Year: 1979 Acres:0.166 # of Photos Avail: 11 V-tour Available: Yes MLS #: 748462 Status: Active Listing Office: home pride realty

Broker Remarks: this 3 bedroom 2 bath home located on the west side just off i-25 is a must see. bright and cheerful with vaulted ceilin… more…

If you would like to learn more about he process for bidding on Colorado Springs HUD homes, call our team today at 719-641-4209. Only registered agents can help you with these special homes, and the value they offer is making them a highly sought after niche in this drastically improving real estate market.

Remember, there are different kinds of Colorado Springs homes: bank owned, HUD, foreclosures and short sale homes. Our team can help you with them all – and more importantly explain the differences to you so you understand the entire process. Call us today!

The demand for Parker foreclosures is HIGH! HUD homes in the Parker area are seeing well over 10 bids per property and homes are selling for tens of thousands of dollars over list price. In an effort to help our clients win more bids, we are posting the most promising Parker HUD releases here the day the homes are released.

The latest offering is a 2 bedroom, 4 bath townhome in the Town and Country Village Parker complex. This great neighborhood is located just north of Main Street and East of Parker Rd. An ideal central location for everything Parker has to offer.

With nearly 1,700 finished square feet, this 2 story townhome has a partially finished basement and is priced at just $122,000!

Town and Country Villages Parker:

HUD Owned Home 10886 bayfield way parker 80138 $122,000.00

Beds: 2 Fin Sq Ft: 1682 Baths: 4 Year: 1985 # of Photos Avail: 5 V-tour Available: No MLS #: 1171439 Status: Active Listing Office: era herman group

Broker Remarks: sold for $142000 in 2004. great location, perfect starter home, partially finished basement, updated bathrooms. hud # … more…

The process for buying Denver HUD homes is different than any other type of resale, bank owned or foreclosed home. Call one of our HUD registered agents and we can explain the process and help you make a winning bid on these highly sought after home.

On most (but not all) HUD homes, bids are open to Owner Occupants for the first 10 days. At the end of the 10 days, the “best” bid is chosen by HUD. If there is no acceptable bid, the home will be offered to non-owner occupants and investors.

There are several Parker Condos and townhomes on the market, but they move quick, so contact us at 303-726-1874 today.

One of the most popular areas for our clients looking at Denver Homes in the Green Valley Ranch neighborhood. This area has been in huge demand over the past few months, and most homes are receiving multiple bids on their first day on the market.

HUD just released a 1,700+ square foot home in the Green Valley Ranch Neighborhood, and it is priced at an incredibly low $140,000! Yes, it needs some TLC, but the upside to this home is enormous! With 4 bedrooms (all on the upper level), 2 baths, formal living and dining area all on a large corner lot, this home has unbelievable potential.

We expect to see multiple bids on this home and would be surprised if it sold at listing price. If youa re interested in seeing this home or would like to learn about the HUD process, call our team today at 303-726-1874. This home will not last long at all!

Green Valley Ranch Homes Denver CO:

HUD Owned Home 5560 flanders st denver 80249 $140,000.00

Beds: 4 Fin Sq Ft: 1741 Baths: 2 Year: 2005 Acres:0.10 # of Photos Avail: 5 V-tour Available: No MLS #: 1171401 Status: Active Listing Office: diamond realty alliance

Broker Remarks: great two story home for a great price in green valley ranch! formal living and dining area, attached two car garage, no… more…

The market for Denver foreclosures is HOT! Especially in the under $200,000 range. If you are serious about finding a great deal on a foreclosure or short sale, call our team today. We are registered with HUD and have experience helping buyers win bids on all types of bank owned homes (Fannie Mae, Freddie Mac, HUD, etc). Let our experience work for you!

It’s the million dollar question: “How many Foreclosures are the banks waiting to list?”

It’s a question we are asked constantly, and the problem is that most answers are anecdotal or sourced from just one asset manager or bank contact at a time. Few actual data studies are done on the subject, so when we see any report detailing the “shadow inventory” of Denver foreclosures or Colorado Springs foreclosures, we pay attention.

Yesterday, The Colorado Springs Business Journal reported on a study done by CoreLogic and the news for Colorado was terrific. According to their data, the amount of shadow inventory in Colorado has dropped by 26% over the past 12 months.

From the Colorado Springs Business Journal:

The amount of shadow inventory in Colorado dropped 26 percent in the 12 months that ended in January, according to a CoreLogic report released today.

The drop was one of the largest declines in shadow inventory in the country and represents a national trend. Shadow inventory includes all delinquent mortgages, those in foreclosure and those homes that have gone through the foreclosure process but aren’t yet listed for sale with a multiple listings service.

The entire article and report is worth a read.

We’ll continue to post any and all reports we find on foreclosures and the shadow inventory that remains had to quantify. In the meantime, all of the data we are seeing is positive and as we have said before, Colorado was one of the first states to enter the foreclosure mess and is consistently showing itself to be one of the first to emerge from it.

The Colorado Springs foreclosures on the market are moving fast – especially the larger homes in the most sought after neighborhoods. The Sunrise Ridge Colorado Springs area is one of those neighborhoods.

HUD just released a large, 2,098 square foot home in the neighborhood and it is priced at just $155,000. While the home does need some work, (flooring, paint etc) the potential for this home is HUGE. In addition to the finished 2,000+ square feet, there is an unfinished walkout basement. Make sure you see this home today as it will not last long.

Sunrise Ridge Colorado Springs:

7695 woody creek dr colorado springs 80911 $155,000.00

Beds: 3 Fin Sq Ft: 2098 Baths: 3 Year: 1989 Acres:0.174 # of Photos Avail: 18 V-tour Available: Yes MLS #: 738624 Status: Active Listing Office: re/max properties, inc.

Broker Remarks: the big question in this charming two story is what will you do with the unfinished walk-out basement? large kitchen has… more…

The market for Colorado Springs foreclosures and HUD homes is competitive. Make sure you are working with an agent registered and approved to make HUD bids. Our team can assist you with all of the foreclosures, HUDs, short sales and more. Just give us a call at 719-641-4209.

In an effort to make sure our clients are seeing the newest listing, we are setting everyone up on daily email alerts for the Colorado Springs homes in the neighborhoods they are interested in. the day a new home is listed, we are

For the 13th straight month, the S&P/Case-Shiller home price index for Denver homes showed an increase in year over year numbers. The latest numbers are for January and show an increase of 9.2% over January of 2012. This is a very significant rise and shows not only the biggest rise since prior to the recession, but also shows the highest overall home prices since October of 2007.

From the Denver Business Journal:

For the 13th straight month, Denver area home sales prices rose in January from a year earlier, reaching their highest level since fall of 2007, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.

Prices were up 9.2 percent in January 2013 from January 2012, the biggest year-over-year rise since before the recession, according to data from the closely followed monthly real estate report series from S&P Dow Jones Indices LLC.

The pace of year-over-year price gains in Denver has been picking up speed for several months. January’s 9.2 percent over-the-year gain for the Denver area followed 12-month increases of 8.5 percent in December, 7.8 percent in November and 6.9 percent in October. (See the table at the end of this report for price trends back to 2010.)

This report compliments every other market report put out this year; the market for Denver homes is on a very strong rebound. The low interest rates in conjunction with many of the home buyer assistance programs (CHFA, Denver and Littleton Home buyer Assistance Program, CHAC, etc), have helped spur many first time buyers into the market.

If you are thinking of buying, now is the time. As this report details, waiting a year can cost you 9% in lost appreciation / buying power. Call one of our agents today to get the ball rolling: 303-726-1874.

Located just off of I-25 and South of Hampden, the Southmoor Park Denver Condo Complex is ideally located for anyone who needs easy access to DTC or downtown Denver. The area itself is in high demand, and few homes are available in the neighborhood.

This unit, recently listed by HUD, is a 3 bedroom, 2 bath home with 2 stories, an attached garage, hardwood floors and the home backs to a greenbelt. At just $160,000 for a home with more than 1,800 square feet, this is a fantastic deal for the area.

Bids are open for owner occupants through March 29th, so if you are interested in seeing this home, make sure you contact us for a showing prior. You can reach our team at 303-726-1874. Remember, not all agents can place bids for you on Denver HUD homes, so call our team of experts today.

 Southmoor Park Denver Condos:

HUD Owned Home 3547 s hillcrest dr denver 80237 $160,000.00

Beds: 3 Fin Sq Ft: 1872 Baths: 3 Year: 1966 # of Photos Avail: 5 V-tour Available: No MLS #: 1169352 Status: Active Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-560950. bid deadline 3/29/13 @ 11:59 pm-daily thereafter. invest… more…

The market for Denver foreclosures is incredibly competitive. Denver condos and townhomes priced under $250,000 are often seeing multiple offers and can sell for more than list price. If youa re interested in learning more about the market, call our team today and we can help you understand HUD homes, foreclosures, short sales and everything in between.

Our team is preparing to list a home in the University Hills Denver Homes neighborhood in the coming weeks. As we prepare our marketing, we ran a recent report detailing the sold homes in the area for the past 6 months. As we have been helping many clients looking in this area, we wanted to make that report available to you here.

While this is a helpful chart, to accurately value a home, you need to look at each homes condition, level of upgrades, etc. This is especially true in a neighborhood such as University Hills. The age of the homes, combined with the vast differences in upgrades and remodels can make valuing a home difficult. If you are considering buying or selling in the area, contact our team at 303-726-1874 so we can run a detailed analysis of the home

University Hills Homes:

Sold

Based on information from Metrolist®, Inc. for the period September 2012 through March 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.

Please remember that these statistics account for all home sales – including short sales and Denver foreclosures in the neighborhood. When valuing a home, appraisers prefer to use an apples-to-apples comparison, so grouping all sales together is not an ideal measurement for value. Contact us today for a detailed report on your home.