The Brian Petrelli Team Blog

We’ve been working with several clients searching for Parker homes for sale this month. Over the last few weeks, there have been very few Parker foreclosures to look at, and this week, there is only one single family HUD home available in the Parker area.

We wanted to highlight that HUD home here, as it is eligible for the HUD $100 down payment program currently being offered to owner occupants of all Denver HUD homes. This is a remarkable deal on a 3 bedroom, 1,400+ square foot home in Cottonwood Parker homes. It has a hot tub and sits on a cul-de-sac. At just $133,000, this home is not going to last very long.

Cottonwood Parker homes:

HUD Owned Home 8353 tumblegrass pl parker 80134 $133,000.00

Beds: 3      Fin Sq Ft: 1499 Baths: 2     Year: 1983 Acres: # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1076439 Listing Office: re/max professionals

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

If you would like to learn more about Parker foreclosures or any of the available Parker homes for sale, give our team a call at 303-726-1874. Several of our team members live in Parker, and we can help you find the best deals available.

There are still good deals available on certain Parker short sales, foreclosures and several Parker resales. Ask us to put you on our daily email property alerts so you don’t miss the hottest deals before they disappear.

Summing up the dramatic shift in inventory we’ve seen over the last few months, today we present the entire inventory of Littleton Foreclosures listed by HUD: 1.That’s correct, while in recent months a search of Littleton homes for sale would turn up roughly 5-7 HUD listings, we are now down to just one HUD home active on the market.

Much of this has to do with the drastically declining inventory of all homes on the market (down over 35% since last year). This diminished supply has had it’s predicted impact on demand with our agents routinely seeing several bids, well above askking price, on almost all available Denver HUD homes.

Adding to this demand for Denver HUD homes is the HUD $100 down payment program being offered on all HUD homes. This program allows purchasers who buy HUD homes with an FHA mortgage and plan to live in it as their primary residence, the ability to put just $100 down.

If you would like to be added to our daily email alert for Little foreclosures, give our team a call at 303-726-1874. Our experts can help you find the best deals on the market – even with the diminished inventory.

Littleton Foreclosures Listed by HUD:

HUD Owned Home 6015 s routt st littleton 80127 $172,000.00

Beds: 3      Fin Sq Ft: 1710 Baths: 2     Year: 1993 Acres: # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1075305 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 inflintlock and… more… Disclosures

Our team has just listed an amazing Littleton Horse property located in the middle of south west Littleton. This gorgeous home has spectacular mountain views, and is one of few available Littleton acreage properties on the market right now.

This amazing home is near the corner of Coal Mine and Kipling, so you feel like you’re in the country but have easy access to all Littleton has to offer: shopping, parks, C-470 and more. if you’re looking for a home to keep horses, or just want some acreage, but don’t want a daily 30+ minute drive, this is the home for you! 

 Littleton Horse Property: 

9830 old coal mine ave littleton 80128 $725,000.00

Beds: 3      Fin Sq Ft: 2544 Baths: 3     Year: 1971 Acres:3 # of Photos Avail: 5 V-tour Available:  No MLS #: 1072954 Listing Office: mb the brian petrelli team

Broker Remarks:  **amazing mountain views!** solid all-brick home situated on 3 acres – horses ok! easy access to shopping and c-470 mak… more… Disclosures

 Our team can help you with all of the available Littleton homes for sale. Give us a call at 303-726-1874 today and let us start working for you. We have access to all available Littleton foreclosures and short sales on the market and can help you negotiate the best deal.

If you’ve been searching for Highlands Ranch homes, then you know that Highlands Ranch foreclosures are rare and when they are listed, they sell quickly. Because of the available HUD $100 down program available on HUD listings, HUD homes in Highlands ranch move even quicker.

HUD has just released a new listing in Westridge Highlands Ranch. With 3 bedrooms, 3 baths, a loft area and 2,500 finished square feet, we expect to see multiple offers on this home. Located just east of Sante Fe, this is an ideal location in Highlands Ranch for those commuting to Downtown Denver or Castle Rock.

Westridge Highlands Ranch:

HUD Owned Home 9989 deer creek st highlands ranch 80129 $237,000.00

Beds: 3      Fin Sq Ft: 2500 Baths: 3     Year: 1994 Acres:0.25 # of Photos Avail: 5 V-tour Available:  No MLS #: 1074437 Listing Office: westfall & company marketing

Broker Remarks:  hud owned*sold as is*open & inviting floorplan*large kitchen*spacious living room*large bedrooms*loft area*huge family r… more… Disclosures

Again, as with all Denver HUD homes, this home qualifies for the HUD $100 down payment program that allows owner occupants to use an FHA mortgage to purchase a HUD home with only a $100 down payment. If you would like more information on this, give our team a call at 303-726-1874.

As we continue to mention, Highlands Ranch homes, especially Highlands Ranch foreclosures, sell quickly. If you are interested in the area, make sure you are set up on our daily email alerts so you receive listings the day they hit the market. our agents can get you set up at 303-726-1874.

Ridgepoint at Bear Creek homes is one of the most sought after communities by buyers searching for Denver foothills homes. This community sits on the foothills and the mountain and city views of this neighborhood are unparalleled.

Our team is thrilled to announce our newest in Ridgepointe. This homes has all of the upgrades you could ask for (slab granite, hardwood floorsm loft and more). Downstairs is a finished walkout basement with a wetbar and plenty of room for entertaining.

Step outside on the back deck, and you won’t believe the views. You can see from the foothills to Denver and more. Make sure you check out the virtual tours on our website and then give our team a call to schedule your own private showing at 303-726-1874.

Ridgepoint at Bear Creek homes:

2448 s newcombe st lakewood 80227 $569,900.00 est $

Beds: 4      Fin Sq Ft: 4676 Baths: 5     Year: 1999 Acres:0.19 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1074748 Listing Office: mb the brian petrelli team

Broker Remarks:  absolutely stunning home with unbelievable views! home sits high on hill, backing to open space with views of the mounta… more… Disclosures

 If you’re searching for Denver foothills homes, you owe it to yourself to check out this amazing home. Ridgepoint at Bear Creek homes offers some of the best views of any neighborhood in the city.

The Brian Petrelli team can help you with all of the available Lakewood homes for sale. Give our team of experts a call today at 303-726-1874 to get started. 

More and more buyers are searching for Denver horse property with plenty of room for horse and livestock. It’s becoming harder and harder to find any type of Denver homes with acreage, but there are several areas just outside the city limits that allow for horses.

We’re proud to announce that we have just listed one of these homes and this one is grogeous! Located south of Parker in Franktown, CO, this home has 10 acres of land and a large, 1,740 square foot, 3 bedroom, 3 bath home.

Offering panoramic views of Cherry Creek Valley and backing to Castlewood Canyon State Park, there are few Denver horse properties that can match these view.

Denver Horse Property:

1195 castlewood pl franktown 80116 $469,900.00

Beds: 3      Fin Sq Ft: 1740 Baths: 3     Year: 1978 Acres:10.22 # of Photos Avail: 1 V-tour Available:  No MLS #: 1074102 Listing Office: mb the brian petrelli team

Broker Remarks:  10 acre*hores property located in castlewood north*great location country life-style with easy commute to denver or colo… more… Disclosures

If you’d like to learn more about this home or other Denver Homes with acreage, give our team a call at 303-726-1874. We have several agents on our team who can use their experience in rural and Denver horse property to help you find the perfect home.

More news today on Denver Foreclosures confirming what we’ve been reporting regarding inventory of Denver homes for sale. While filings were up slightly, the actual sale of these filing fell to a five year low.

Some of this has to do with banks allowing homeowners to sell homes as short sales or renegotiate their mortgages. But quite a bit has to do with the improving housing market and the plummeting (down 39% year over year) inventory of Denver homes for sale.

From the Denver Business Journal:

Foreclosure filings in Colorado’s urban counties were up slightly in February from a year earlier, but foreclosure auction sales fell to a five-year low, according to a report Wednesday from the Colorado Division of Housing.

New foreclosure filings in the state’s metropolitan counties rose 3.5 percent year-over-year in February, to 2,056 filings from 1,986 in February 2011.

Yet foreclosure sales were down 6.7 percent in February from a year earlier, dropping to 1,248 sales from 1,338.

Again, we’re seeing fewer and fewer Denver foreclosures on the market and a resulting drop in sales. there are still several good deals on the market, but the number of Denver short sales and foreclosures are falling quickly.

If you would like to learn more about foreclosures, short sales or the market for Denver distressed properties, give our team a call at 303-726-1874 today. With the $100 down program being offered on Denver HUD homes, in conjunction with the record low interest rates, this is an unbelievable time to buy a home.

More big news for Denver foreclosures: In the largest industry settlement since the US settled with the tobacco industry, 49 state attorneys, including John Suthers of Colorado, filed the $25 billion agreement in court on Monday agreed to last month.

We’re still waiting to see exactally how this plays out and if it will impact the number for foreclosures and Denevr short sales on the market. the deal is supposed to help roughly a million borrowers to see a reduction in the mortgage debt, but only time will tell.

From the Denver Business Journal:

The complaint alleged the five mortgage servicers’ misconduct “resulted in the issuance of improper mortgages, premature and unauthorized foreclosures, violation of service members’ and other homeowners’ rights and protections, the use of false and deceptive affidavits and other documents, and the waste and abuse of taxpayer funds.”

Colorado had the nation’s ninth highest state foreclosure rate in 2011 among the states and 12th highest in December 2011, according to RealtyTrac.

Most of the settlement amount, about $20 billion, is slated for home refinancing and principal reductions for struggling borrowers. About 1 million borrowers can expect their mortgage debt to be reduced by lenders or to refinance their homes at lower rates.

If you’d like to learn more about Denver foreclosures or Denver HUD homes, give our team of foreclosure experts a call at 303-726-1874.

Inventory is still way below average levels and is nearly 40% below where we were at this time last year.

More news on the declining housing inventory; this time for Denver luxury homes. The numbers today for luxury homes is nearly identical to the number earlier this week for all of the Denver homes for sale. Earlier this week, we reported that year-over-year inventory is down 33%. Today, we’re finding out that inventory for Denver luxury homes is down year-over-year by 40%.

The number of sold homes in that time frame remained about the same, suggesting that the market may be finding an equilibrium.

From The Denver Business Journal:

There were 40 percent fewer luxury homes on the market in metro Denver in February than in the same month of 2011, according to a report released Friday.

Brokers listed 604 homes with a price tag of more than $1 million in February, compared to 644 in January and 1,005 in February 2011, according to the report analyzing Metrolist Inc. data by Gary Bauer, an independent Littleton broker, Metrolist analyst and board member.

Thirty homes in that market sold in February, down slightly from 33 sold in January but up from 27 in February 2011.

These numbers include the statistics for Denver luxury foreclosures as well.

If you are interested in more detailed statistics or information on Denver luxury homes in specific neighborhoods, give our team a call at 303-726-1874. Each neighborhood can have it’s own unique markets, so let us send you a detailed report.

We’ll continue to monitor the market and post the stats here, but as we’ve been reporting since last fall, the inventory continues to fall while the demand for homes, spurred largely by the low interest rates, continues to climb.

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When reporting market trends on Denver homes for sale, many companies will compute numbers by excluding all Denver distressed properties from their figures. This can lead to an overoptimistic picture of the true home market. Today, however, CoreLogic’s numbers show a year-over-year increase and factor in all of the Denver distressed properties on the market (Denver foreclosures, Denver short sales, Denver HUD homes, etc).

This is big news and reflects the severely diminishing supply we’ve seen over the past 6 months. (See our post from yesterday on the housing inventory in Denver being down 33%.)

From the Denver Business Journal:

While home sale prices continue to slide nationally, Denver is bucking the trend with a year-over-year increase, according to the most recent CoreLogic home price index report.

Home prices in the Denver-Aurora-Broomfield metro area, including distressed sales, grew 1.1 percent in January from a year earlier, CoreLogic reported.

And in a revised December 2011 home price index, CoreLogic is now reporting a rise of 0.1 percent over December 2010, which makes for two months’ worth of year-over-year growth.

With the number of Denver foreclosures and short sales diminishing, the traditional resale market is picking up steam. While it used to be Denver HUD homes and that would occasionally see multiple bidders, we’re seeing it happen much more frequently on traditional sales in certain areas of town and it is almost a given that a HUD home or foreclosure will have several bidders.

If you are serious about buying a home in the near future, give our team a call at 303-726-1874. We can set you up on the daily email alerts for your area so you don’t miss anything.

There are still some great deals available on Denver distressed properties, but with prices heading up and inventory heading down, you need to move quick.