The Brian Petrelli Team Blog

Again, we’re seeing positive numbers for the entire Colorado housing market. The Number of Denver homes for sale that successfully closed rose 13.5% in February year-over-year from 2011. This increase in sales is consistent with the numbers we’ve been reporting here for the past severl months.

From the Colorado Division of Housing:

The number of single-family home sales closings increased again in February in metro Denver, the Pikes Peak Region, and statewide. According to home sales information released by the Colorado Association of Realtors, the number of single-family closings rose 13.5 percent in metro Denver during February 2012 compared to February 2011. Over the same period, closings rose 17.6 percent statewide, and 14.3 percent in the Pikes Peak region. Statewide in February, there were 3,746 closings. 2,036 of them were in the metro Denver region and 511 occurred in the Pikes Peak region.

Keep in mind, these increased sales are coming at the same time that inventory has declined by over 30% year-over-year. This has resulted in a pretty severe shortage in homes priced under $300,000 in the Denver metro area. Our team has been a perty to many bidding wars for homes over the past few months and we don’t see this trend decreasing anytime soon.

If you are considering buying any of the available Denver homes for sale, especially Denver HUD homes or Denver foreclosures, make sure you get set up on one of our daily email alerts so you don’t miss the more popular homes when they come on the market. You can have our team set you up on these alerts by calling us at 303-726-1874.

Some more great news for Denver Luxury homes was released by Metrolist today. Luxury homes in the metro area (homes priced over $1 million) increased over 60 percent from February and nearly 50% from March of 2011.

This steep rise corresponds to what we’ve been seeing in all price ranges across the Denver area. While the number of sales hasn’t risen quite as dramatically in the non-luxury market, sales have been trending up for many months now.

From The Denver Business Journal:

The number of luxury homes sold in the metro Denver market in March increased dramatically from both the prior month and March 2011, according to a report released Monday.

Forty-nine homes with a price tag of more than $1 million sold in March, up 63 percent from February and 48 percent year-over-year, according to the report analyzing Metrolist Inc. Metrolist Inc.Latest from The Business JournalsFollow this company data by Gary Bauer, an independent Littleton broker, Metrolist analyst and board member.

With banks releasing fewer and fewer Denver luxury foreclosures to the market, we expect to see prices trend upwards as well. There has been a trend of “wait and see” going on in the market, and it seems like this trend is ending.

If you would like to talk to our team about Denver Luxury homes or any of the factors that are contributing to the upswing in sales over the past 9 months, give us a call at 303-726-1874.

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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

Diane Nazminia on our team, just listed a perfect 2 story homes in The Meadows Littleton homes. If you have been searching the shrinking inventory of Littleton homes for sale in the mid to upper $300’s, you won’t find a nicer home for this price!

With four bedrooms plus a main floor study, a three car garage, formal dining area, a master suite and so much more, you’ll have to see this home in person to appreciate all it offers. You can take the virtual tours on our website or give our team a call at 303-726-1874 to see it in person.

Littleton Homes for Sale:

7160 s newcombe st littleton 80127 $369,900.00

Beds: 4 Fin Sq Ft: 2243 Baths: 3 Year: 1994 Acres:0.24 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1083374 Listing Office: mb the brian petrelli team

Broker Remarks: acclaimed richmond design, tasteful contemporary two story, elegant flowing foyer with spiral staircase.this wonderful h… more… Disclosures

The Meadows Littleton homes are located north of Ken Caryl Ave and West of Kipling. Offering easy access to C-470 as well as amazing views of the foothills, this is a highly popular area. Chatfield State Park is only a few miles south of the neighborhood and several parks are within walking distance.

Our team can help you with all of the available Littleton homes for sale, including the declining inventory of Littleton short sales and Littleton foreclosures. You can reach us at 303-726-1874.

Some more great news on Colorado foreclosures this morning. There was a significant decline in year-over-year foreclosure filings between March of 2011 and March of 2012, sending another signal that the market for Denver homes continues to improve.

From The Denver Business Journal:

The number of Colorado properties with foreclosure filings rose 2.38 percent in March from February, but fell 21.9 percent from March 2011, according to a monthly report Thursday from RealtyTrac Inc. RealtyTrac Inc.Latest from The Business JournalsFollow this company

The state had 3,742 properties with filings last month, or one out of every 591 housing units statewide, up from the February tally of 3,655 properties, or one in 605 properties, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

We’ve been reporting for several months that all of the housing statistics continue to point in an upward direction. Year-over-year statistics in every category point to decreasing inventory and increasing prices. A decline in Colorado foreclosures of over 20% in a year is big news and is consistent with the numbers being reported by all of our sources.

We’ll continue to watch the major indicators and report back here. In the meantime, if you’d like to talk with our team about Colorado foreclosures or the market in general, give us a call at 303-726-1874.

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

Some great news today for anyone searching for Cottonwood Parker Homes for Sale. HUD just listed this large (1,800+ square feet0 home with 4 bedrooms and 4 baths for just $160,00! Even for Parker foreclosures, this is a terrific price!

Located just north of E-470 off of Jordan Rd, Cottonwood is a very popular neighborhood for buyers in the sub $250,000 market. This new offering from HUD is one of the larger models in the neighborhood and is one of the lowest priced home in the neighborhood.

Cottonwood Parker Homes for Sale:

HUD Owned Home 8852 clover meadow ln parker 80134 $160,000.00

Beds: 4 Fin Sq Ft: 1858 Baths: 4 Year: 1995 Acres: # of Photos Avail: 5 V-tour Available: Yes MLS #: 1082315 Listing Office: re/max professionals

Broker Remarks: this property may be eligible for the fha $100 down payment program. ask your agent for details. located incottonwood is… more… Disclosures

Because of it’s incredible price, as well as the option of using HUD’s $100 down payment program, we expect multiple bids on this home. If you are interested in seeing this home, or any of the other available Parker homes for sale, give our team a call at 303-726-1874.

While all Denver HUD homes are allowing the $100 down payment program for owner occupants, HUD homes make up only a small portion of the available Parker homes for sale, so don’t let this opportunity pass you up.

Two of our team members live in the Castle Rock area and have been showing several Castle Rock condos over the past few days. yesterday, they were alerted to one of only a few Castle Rock foreclosures that qualify for HUD’s $100 down payment program.

This new listing is in the Plum Creek Castle Rock condos neighborhood and is priced extremely well. At just $93,000, this two bedroom condo is priced tens of thousands of dollars below comparable Castle Rock condos in the same complex. At 1,230 square feet, this home is larger than many of the single family Castle Rock homes for sale.

Castle Rock Foreclosures:

HUD Owned Home 1560 olympia cir castle rock 80104 $93,000.00

Beds: 2 Fin Sq Ft: 1230 Baths: 2 Year: 2005 # of Photos Avail: 1 V-tour Available: No MLS #: 1081995 Listing Office: mb denver colorado realty

Broker Remarks:  this property may be eligible for the fha $100 down payment program. ask your agent for details. beautiful 2 bedroom 2 full bath great castle location easy commute to i-25 right off exit 181 on plum creek parkway close to parks schools and trails walk across street to community pool and hot tub high ceilings throughout rounded corners with arches spacious master with walk in closet and dual sinks in master bath oval shaped tub with shower in master large living room with fireplace and walkout patio good separation between master and 2nd bedroom washer dryer closet full size dining area off kitchen beautiful kitchen with pantry cabinet wow what a beauty. 1231 square feet-information is from the fha appraisal and is deemed reliable but not guaranteed. Disclosures

If you would like to learn more about this home or any of the other available Castle Rock homes for sale, including Castle Rock foreclosures and short sales, give our team a call at 303-726-1874. Again, two of our team members live in the area and can answer all of your questions.

Darcy Truppo on our team has been working a great deal lately showing and selling Aurora condos. Today she listed a fantastic unit in the French Creek Aurora Townhomes complex.

Located just south of Mission Viejo Park and north of Quincy Reservoir, French Creek Townhomes in Aurora is a great community located within a mile of both I-225 and E-470.

This unit has 2 stories, nearly 1,500 square feet, 2 bedrooms and 3 baths. With a 2 car attached garage, this townhome is a great deal. This unit is a short sale, but our team’s short sale negotiator has confirmed with the bank that bank approval on this home will be quick.

French Creek Aurora Townhomes:

4168 s mobile cir aurora, CO 80013 $135,000.00	Beds: 2 Fin Sq Ft: 1488 Baths: 3 Year: 1985 # of Photos Avail: 5 V-tour Available: No MLS #: 1081547 Listing Office: mb the brian petrelli team	Broker Remarks: rare opportunity in french creek! dramatic two-story townhouse with woodburning fireplace, fabulous windows in family ro… more… Disclosures

 If you would like to talk to our team more about Aurora condos or Aurora Short Sales, give us a call at 303-726-1874.

Typically, Highlands Ranch homes listed by HUD tend to be under 2,000 square feet and have under 4 bedrooms. This weekend, HUD listed one of it’s few Highlands Ranch foreclosures – and it’s a tremendous deal on a very large home on the western side of Highlands Ranch.

This listing has 5 bedrooms, 4 baths and over 3,500 finished square feet. In addition, this home sits on a cul-de-sac and backs to open space. This is one of only two Highlands Ranch foreclosures that qualifies for the $100 HUD down payment program and the only HUD home in the area over 2,300 square feet.

Like all Highlands Ranch homes listed by HUD, we expect to see multiple bids on this amazing deal. If you’re interested in seeing it and potentially making a bid yourself, call our team at 303-726-1874.

Highlands Ranch HUD:

HUD Owned Home 9036 edgewood ln highlands ranch 80130 $313,000.00

Beds: 5 Fin Sq Ft: 3587 Baths: 4 Year: 1993 Acres:0.18 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1081514 Listing Office: era herman group

Broker Remarks: hud owned property. sold as is. hud case # 052-606070. marketed by mmrem.com. more properties may be found on www.hudhom… more… Disclosures

Our team’s main office is located in Highlands Ranch and several of our agents live in the area. If you’d like to learn more about Highlands Ranch homes for sale or foreclosures in the area, you can reach us at 303-726-1874. 

All of the major indicators for Denver homes continue to point in a positive direction. The latest report is showing that home sales, including Denver Distressed properties (foreclosures, Denver short sales, etc), are up 1.2% from the same period 1 year ago.

This is great news, and the number get even better when you take out Denver distressed properties. When you remove Denver foreclosures and Denver short sales, the year over year increase raises to 1.6%.

From The Denver Business Journal:

Home prices in metro Denver continued a gradual climb upwards in February as compared to a year earlier, according to the latest home price index (HPI) report from CoreLogic CoreLogicLatest from The Business JournalsNational refinancing activity back on the riseHome prices show signs of stabilizingCoreLogic: Metro Charlotte home prices stay flatFollow this company Wednesday.

The Denver-Broomfield-Aurora area saw the HPI, including distressed sales, increase 1.2 percent from February 2011. Without the distressed numbers, the index increased 1.6 percent year over year.

We’re seeing more and more positive news on the market for Denver homes every month. While there is no steep increase in price, the several months of positive news certainly continue to point in a slow, sustained recovery.

We’ll continue to watch the market and especially keep our eye on the Denver foreclosures that are anticipated to be released in the coming weeks and months now that the nation wide lawsuit against the major lenders has been settled.

If you’d like to talk more about the Denver market, give our team a call at 303-726-1874.

The market for Highlands Ranch homes has been very active over the past few months. Earlier this week, our listing in Kentley Hills Highlands Ranch went under contract in less than 60 days after 49 total showings. That’s a busy two months!

We’ve compiled the statistics for all of the sold Highlands Ranch Homes for Sale below. You’ll notice that the difference between the median List price and Median Sold price is less than 2%. This is a very positive sign for home values in the area and corresponds with some of the bidding wars / multiple bid situations we’ve seen – especially on homes under $300,000.

Highlands ranch Homes for Sale:

Sold

 “Based on information from Metrolist®, Inc. for the period November 2011 through April 2012 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.

These statistics comprise all of the sold Highlands ranch homes. this includes Highlands Ranch foreclosures, Highlands Ranch short sales, and Highlands Ranch condos. If you have specific questions about your neighborhood or an individual home, give our team a call at 303-726-1874.