The Brian Petrelli Team Blog

We receive calls every week from buyers looking to Rent to Own Homes in Denver. Many of the buyers have had a Denver foreclosure or a short sale and need to clean up their credit. Others aren’t sure if they will be in the Denver area for a long period of time, but want to lock in the possibility of today’s prices in case they do stay long term.

The challenge with these properties is that they are difficult to find and most agents are not familiar with the process or procedures for helping these buyers. In an effort to make the search easier, we have a page on our website that lists all of the Rent to own homes in Denver and the surrounding areas. All of these homes are listed in the MOS with the option for a buyer to purchase the home with a lease option.

Again, there are many extra steps to a transaction of this type, but for the right buyer, in the right situation, it may make sense. Give our team of experts a call today to see what the right choice is for you. With all of the deals on Denevr foreclosures and the $100 down program on Denver HUD homes, rent to own may not be smartest way to go. But if it is, we can help you every step of the way. Give us a call at 303-726-1874 today and we can educate you on all of the options for rent to own homes in Denver.

Yesterday, CoreLogic released a report on prices for Denver homes through June 2012. Their report (detailed here in the Denver Business Journal), shows that June’s home prices in the Denver area grew 7.2% over June of last year. Even more encouraging, is that when the figures for Denver Distressed homes (foreclosures, HUD, etc) are factored in, the home price index still increased by 6.3%.

The entire article and report is worth a read, but here are some of the highlights:

For the fifth month in a row, metro Denver’s home sale prices saw a year-over-year increase, according to a CoreLogic home price index (HPI) report released Tuesday.

The Denver-Aurora-Broomfield area HPI grew 7.2 percent in June over June 2011’s HPI. That was also a larger gain than was seen with May’s

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Those numbers included distressed sales, which are foreclosed or real-estate owned (REO) homes.

This continuing positive news for Denver homes is just one more in a long list of reports that have been coming out over the past year showing a very strong and improving market. This is one of the reasons that many investors have been contacting us interested in Denver Investment Properties. While the number of foreclosures are decreasing, there are still some good deals to be found for the right investor if you are able to move quickly.

If you would like to talk about this report, Denver distressed properties or how we can help you find the best investments, give our team a call at 303-726-1874.

The inventory for Arvada homes has been incredibly low over the last few months. This deflated inventory has been even stronger in the market for Arvada foreclosures. Our northern agents have been watching for any and all new foreclosure listings to come up, and we excited when HUD released a 3 bedroom ranch this week.

This home is located about a mile north of I-70 just south of Creekside Park. The home is nearly 1,400 square feet, has 3 bedrooms, 2 baths a covered patio and a brick gazebo. With a little updating, this could be a fantastic value!

Arvada Foreclosures:

HUD Owned Home 5835 pierce st arvada 80003 $138,000.00

Beds: 3 Fin Sq Ft: 1382 Baths: 2 Year: 1941 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1117716 Listing Office: coldwell banker residential 24

Broker Remarks: ranch located on huge lot with 2 car detached garage/shop. walking distance to old town arvada and historic district. ea… more… Disclosures

As with all Denver HUD homes, this home qualifies for the $100 HUD down payment program for all owner occupants using an FHA mortgage. This program is a fantastic opportunity for buyers with limited funds to buy a home at today’s incredible rates!

If you would like to speak with our team about Arvada homes for sale or the market for Arvada foreclosures, give us a cll at 303-726-1874.

Metrolist released some very positive numbers for the Denver Luxury Homes market today. Again, the numbers show a big improvement over 2011 sales for this market (homes over$1 million or more). We are currently out performing last year by 12.7 %.

The figures for Denver luxury homes include all sales above $1 million. This includes standard sales as well as Denver Luxury foreclosures and short sales.

This article in the Denver Business Journal is worth a read. Some of the highlights:

There were 46 homes and condos with a price tag of $1 million or more sold in the seven-county Denver metro area in July, down one from the 47 sold in July 2011. But year-to-date, there were 276 sales, up from the 245 sold through July in 2011 – a 12.7 percent increase.

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The most startling statistic from the report was the plunge in average days on the market, which went from 111 days in July 2011 to 56 days in July — an almost 50 percent drop.

This second point is simply incredible and mirrors what we have been saying for the entire Denver homes market. Inventory has plunged! We are seeing buyers in all price ranges struggling to find homes that meet their needs, and when they do, the best homes are igniting bidding wars between several buyers.

If you are in the market for Denver luxury homes, make sure you talk with one of our experts and have us set you up on a daily alerts so you don’t miss the best homes the day they hit the market. you can reach us at 303-726-1874.

Last month, our team brought on a great addition to our team and we wanted to highlight her here. Jacy Bowers is an expert in the real estate market for North Denver Homes. She has been an active agent for over a decade and her knowledge of the North metro area is second to none.

Recently, Jacy started a North Denver Homes blog focusing on the area and the amazing opportunities for both North Denver foreclosures and North Denver short sales. When you have a minute, make sure you check it out. It’s filled with up to date market stats and information on the entire North area.

Jacy and her family live in the area and she is a fantastic resource for any questions you may have about living, working and playing in the area. With two kids of her own, she can help you with the schools in the area and provide you all of the detailed reports to make the right choice for your family.

In addition, Jacyalways knows where the best deals are on North Denver homes and North Denver foreclosures, so giver he a call or send her an email. You can reach her at: 303-961-1538

Some more great news for Denver homes came out today. According to the latest report from S&P/Case-Schiller, Denver posted it’s 5th straight month of year over year increased home prices.

This parallels all of the reports we’ve been seeing for the past 6 months and is what we have predicted to happen due to the decreased home inventory on the market.

This report details only Single Family Denver homes and does not include Denver condos. It is also not mentioned in the article how the sales of Denver foreclosures or Denver HUD homes was factored in. You can read the entire article at The Denver Business Journal’s site:

For the fifth straight month, metro Denver posted a year-over-year increase in home prices in May, at a pace that eclipsed all but three of the nation’s 20 largest markets, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.

Denver’s five consecutive months of year-over-year price gains followed 18 months of declines, according to the closely-followed monthly report on average home-resale prices from Standard & Poor’s.

Denver prices were up 3.7 percent in May from the same month of 2011, the Case-Shiller report said. That followed year-over-year gains of 2.8 percent in April, 2.6 percent in March, 0.5 percent in February and 0.2 percent in January.

The market has been incredibly hot for buyers looking in the sub $500,000 market all year. If you are considering a specific area, make sure you contact us to receive a detailed report for the area as well as have us set you up on a daily alert for active listings in the neighborhood. the best homes are staying on the market only a day or two, so it is important you know about the home as soon as it hits the market.

This urgency is even more apparent in the market for Denver foreclosures. Certain areas can see several bidders for each home and sales prices tens of thousands of dollars over list price. These foreclosures are targeted by both potential owner occupants as well as bueyrs looking for Denver Investment Properties. Call us today at 303-726-1874 to get set up in our system so you don’t miss the best deals!

Some more good news today for Denver homes and the greater Colorado market. According to a report released from the Colorado Division of Housing, the number of mortgages paid off in 2012 is up 10.2% compared to last year.

Typically, a mortgage is paid off when a home is sold or refinanced, and these number correspond with the positive increase in sales we’ve been seeing reported elsewhere.

From The Colorado Division of Housing:

The number of mortgage loans paid off in Colorado was up 10.2 percent during the first half of 2012 compared to the same period of last year, but activity was down from the first quarter of this year to the second quarter. According to a new report released today by the Colorado Division of Housing, public trustees in Colorado released a total of 139,859 deeds of trust during the first half of 2012, and there were 126,903 releases during the same period last year.

Typically, a release of a deed of trust occurs when a real estate loan is paid off whether through refinance, sale of property, or because the owner has made the final payment on the loan. Release activity rises as refinance and home-sale activity increases.

For the second quarter alone, releases of deeds of trust increased 20.7 percent to 65,051 from the 53,878 deeds released during the second quarter of last year. Releases were down 13 percent from the first quarter of this year when there were 74,808 deeds released. The second quarter’s total was the highest total recorded for any second quarter since 2009.

Little was said in this report regarding Denver foreclosures or Denver HUD homes and their affect on these numbers. When a foreclosure is sold, there is no release of a mortgage as the bank own the home outright, so sales of Denver foreclosures are not factored into this report.

If you would like a detailed report for sold Denver Homes in your area or would like to talk to one of our agents in depth about these number, please give us a call at 303-726-1874.

We spent all weekend showing several clients all of the available Littleton homes for sale. Under $200,000 the choices are slim, but HUD just released one of only two Littleton Foreclosures eligible for the $100 HUD down payment rogram, and we wanted to highlight it here.

This is a large (2,200+ square foot) homes in the Columbine West neighborhood. The home has 5 bedrooms, hardwood floors, a partially fiished basement and a mainfloor laundry. With a little updating, this home has incredible potential!

Again, single family homes in Littleton under $200,000 are moving quickly, so if you would like to see this home before it’s gone, give us a call at 303-726-1874.

Littleton Foreclosures in Columbine West:

HUD Owned Home 8080 w fremont ave littleton 80128 $182,000.00

Beds: 5 Fin Sq Ft: 2216 Baths: 4 Year: 1978 Acres:0.16 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1115181 Listing Office: house2home llc

Broker Remarks: great property in columbine west. nice open floor plan. large master suite with double closets. main floor laundry. nice… more… Disclosures

Like all Denver HUD homes, this listing is eligible for the 4100 HUD down payment program. This is an amazing program for owner occupants using FHA financing. Give us a call and we can explain how easy this program is to use.

If you would like more information on all of the available Littleton homes for sale or Littleton foreclosures, just give us a call. We can prepare a complete list or s specific list for the areas you are interested in.

Our team is always keeping our eyes on the market for Denver Luxury Homes. We’ve helped many clients in that market over the years, and while it is much different than helping a traditional buyer of Denver homes for sale, it’s a a whole lot of fun to see the amazing homes in this price range.

Today, The Denver Business Journal released its slide show of the top selling Denver Luxury Homes for the 2nd quarter. These homes are simply stunning and even if you’re only in the $200,000 price range, it’s fun to look through the photos and see just how gorgeous some of these homes are.

Here is the link to the slide show on their website:

If you are lucky enough to be looking for a home in this market, please give our team a call. Buying a luxury home requires a much different skill set than a traditional purchase, and our team has the expertise and experience to help you through the process. You can reach us at 303-726-1874.

We have recently added a new member of our team, Donna Jarock, who specializes in Luxury Colorado Homes. Take a look at her website which details all of the active Denver luxury homes. Donna has years of experience in this market!

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Denver Area Luxury Homes Searches:
Denver Area Luxury Homes, Aurora Luxury Homes, Arvada Luxury Homes, Brighton Luxury Homes, Broomfield Luxury Homes, Castle Rock Luxury Homes, Centennial Luxury Homes, Commerce City Luxury Homes, Denver Luxury Homes, Englewood Luxury Homes, Golden Luxury Homes, Highlands Ranch Luxury Homes, Lakewood Luxury Homes, Littleton Luxury Homes, Northglenn Luxury Homes, Parker Luxury Homes, Thornton Luxury Homes, Westminster Luxury Homes

Several of our agents live and work in Parker. Currently we have over a dozen clients looking at Parker homes for sale and we are constantly watching the market for the newest Parker foreclosures. Late yesterday, HUD released a new listing for a single family home in the Pinery Parker homes.

This new listing is one of only a few Parker foreclosures that are eligible for the $100 HUD down payment program being offered for owner occupants. The home has 3 beds (plus a loft), 4 baths and over 1,800 square feet. It sits in a private cul-de-sac, has hardood floors, vaulted ceilings and is not your typical foreclosure!

A foreclosure in the Pinery at this price, in this condition will move incredibly fast. if you are in the market for Parker homes for sale, you need to see this one today! Give our team a call at 303-726-1874.

The Pinery Parker Homes:

HUD Owned Home 6708 cherry creek dr parker 80134 $195,000.00

Beds: 3 Fin Sq Ft: 1837 Baths: 4 Year: 2003 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1114805 Listing Office: re/max professionals

Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. beautiful,dramatic entr… more…

The housing market in Parker and the entire south Metro area is very hot. Homes are moving quickly and Parker homes for sale priced under $300,000 are generating multiple offers. If you would like to be set up on a daily email alert for the area, give us a call at 303-726-1874.

We can educate you on the $100 down program being offered on all Denver HUD homes as well as explain the difference in bidding processes on Fannie Mae, Freddie Mac, HUD and other foreclosures on the market.