The Brian Petrelli Team Blog

Absolutely every agent in the business has their own personal horror story about dealing with one of the many management companies for Colorado HOAs. From the run-around on the phone, to the ridiculous rules, to the just plain rude, there is no doubt that many of the management companies running HOA’s can be a nightmare.

My personal favorite happend several years ago. We absolutley had to have HOA docs that day. So one of my assistants went in person to the HOA office. She patienctly knocked at the door only to find out it was locked. The people inside the office said they could not let anyone in and if she needed docs, she would have to call and it would take 5-7 business days. Good times.

However, with all of the problems and complaints on Colorado HOAs, many people often overlook the necessity and services they do provide. The reason you don’t live next to a bright pink house with 30 wind chimes and a purple fence, is because of HOAs. That may be an extreme example, but HOA’s do serve a purpose – especially in condo and townhome communities where there are many shared common areas and services.

The latest move to help homeowners with Colorado HOAs involves possible government regulation. You can read the details at the Denver Post.

While in almost every instance, more government regulation and “help” in the real estate industry only brings about more problems, this may be one time when a level headed regulation system, similar to the mortgage broker regulations enacted a few years ago, may actually help everyone involved.

We’ll follow the developments on this and keeo you updated on our blog.

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We have several buyers working with us looking at homes in south east Aurora. In preparing a list of homes to see this weekend, one of the available Aurora Foreclosures listed by HUD caught our eye. This large ranch home located in Mission Viejo Aurora, has over 1,800 finished square feet, an attached two car garage and qualifies for HUD’s $100 down payment program. Bids are open and this home is in good shape for a HUD listing.

If you’d like to schedule a time to see it this weekend, give one of our agents a call at 303-726-1874. We’ll be out showing homes all weekend and would be happy to swing by and let you take a look.

Mission Viejo Aurora:

HUD Owned Home 3776 s lewiston st aurora 80013 $118,000.00

Beds: 3      Fin Sq Ft: 1824 Baths: 2     Year: 1979 Acres:0.18 # of Photos Avail: 5 V-tour Available:  No MLS #: 1065218 Listing Office: mb cliff johnson realty

Broker Remarks:  very nice 3 bed 2 bath ranch style home. finished basement. close to park,shopping, schools. hud owned – sold as-is…. more… Disclosures

The inventory for Denver HUD homes has contracted over the past few months. Much of this has to do with the amazing HUD $100 Down Payment program currently being offered for owner occupants using an FHA mortgage to purchase the home. If you’d like to learn more about this special financing, or talk to one of our agents about Aurora foreclosures or homes specifically in Mission Viejo, give us a call at 303-726-1874 or send us an email at properties@petrelliteam.com.

Our team will be showing some clients a number of Lakewood condos this weekend. On the list of homes to see are these two fantastic deals on Lakewood foreclosures. Both of these units are priced at or under $80,000 and are incredible values for their neighborhoods.

The first unit is a tremendous deal in Meadow Creek Townhomes. This is a HUGE, 1,668 square foot townhome with 2 beds, 3 baths with a fenced yard and a 2 car, attached garage – All for just $80,000! Give one of our agents a call at 303-726-1874 if you’re interested in seeing this home. It will not last long at this price.

Meadow Creek Townhomes

HUD Owned Home 6305 w 6th ave lakewood 80214 $80,000.00

Beds: 2      Fin Sq Ft: 1668 Baths: 3     Year: 1975 # of Photos Avail: 5 V-tour Available:  No MLS #: 1033489 Listing Office: elist realty, llc

Broker Remarks:  ***back on the market*** light and bright 2 bedroom 3 bath townhome on fenced lot with lots of potential. property has … more… Disclosures

THe second of the two Lakewood foreclosures, is a one bedroom unit in Snowbird Condos. Unlike many foreclosures, this unit comes with all of the appliances (fridge, washer and dryer). In addition, it has wood floors and a fireplace – all for just $65,000.

Snowbrid Condos Lakewood

HUD Owned Home 335 wright st lakewood 80228 $65,000.00

Beds: 1      Fin Sq Ft: 812 Baths: 1     Year: 1981 # of Photos Avail: 5 V-tour Available:  No MLS #: 1065769 Listing Office: mb cliff johnson realty

Broker Remarks:  great 1 bed 1 bath condo. wood floors.fireplace. washer, dryer, fridge, oven all included. hud home sold as-is. bids due… more… Disclosures

It should be noted that these homes, like all Denver HUD homes, qualify for the HUD $100 down payment program currently being offered to all owner occupants of HUD purchases.

If you are interested in learning more about the available Lakewood condos, Lakewood foreclosures or any of the other options available, give our team a call at 303-726-1874.

The number of sold homes in January were up 14.5 percent from January of 2012 according to a report by Metrolist Inc detailing Denver homes for sale. This upwards trend is consistent with all of the data we’ve seen over the past 6 months.

This is obviously good news, but what is troubling, and what is not being reported by most news outlets, is that the number of “active” Denver Homes for sale in January 2012 dropped by over 41% from January of 2011. This drastically declining inventory has been a real problem both for our clients, and for the market as a whole.

While there ire definitely some Denver foreclosures that have not been listed by banks as they were waiting for the settlement finally announced yesterday, a larger problem is the constant reporting in the news that the housing market is in terrible shape. This negative reporting is causing many sellers to wait on listing their homes, or forgo listing their homes altogether.

While many areas of the country are in terrible shape, this is not the case for most of the metro Denver area. Over the past few weeks, our team has put many, many homes under contract. Two of the homes we listed went under contract in less than 7 days. Much of this is due to the complete lack of inventory in certain markets caused by the media misinformation.

As with all real estate, each market is completely unique, so if you would like a full report for your neighborhood, or a neighborhood you are considering moving into, give our team a call at 303-726-1874.

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Some interesting news today, both nationwide and for Colorado Foreclosures in particular. There have been plenty of news stories and rumbling about the settlement being worked out between all of the states and the five largest mortgage lenders.

Today the settlement was announced, and it appears that Colorado will get $204.6 million in foreclosure releif funds. From The Denver Business Journal:

Under the terms of the settlement, Colorado, which served on the executive committee that oversaw the settlement negotiations, will receive:

· $73.3 million that will be available to grant principal reductions on loans to make a modification possible. Approximately 40 percent of these funds will also be available to ease the effects of foreclosure, including waiving deficiency balances, enhanced cash-for-keys payments and blight prevention;

· $52.5 million in cash to the state;

· $46.3 million worth of refinancing benefits to underwater borrowers; and,

· $32.49 million in payments to homeowners who lost their homes to foreclosure between January 1, 2008 and December 31, 2011.

The past mortgage modification programs have been spectacularly ineffective and it will be interesting to see if this program has any real impact. It may make some Denver short sales easier, but based on all of the past “government help,” I wouldn’t bet on this having a major impact.

We’ll continue to post more information as it becomes available, but in the meantime, if you have questions on Colorado Foreclosures or Denver short sales, give our team 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

More good news today for Denver Homes for sale. Penske Truck Rental compiled it’s annual top ten list of moving Destinations, and Denver hit number 7.

From the Denver Business Journal:

Truck Rental has compiled its annual list of the top 10 destinations for residents relocating within the U.S., and Denver comes in at No. 7 for 2011, up a notch from 2010’s No. 8 ranking.

Penske bases the list on the number of requests it receives through its online reservations system and call centers for one-way moves during the year.

While this is obviously good news for the Denver housing market, we still remained concerned with the shrinking inventory on the market – especially with Denver foreclosures and Denver HUD homes. Our team has seen the demand for homes increase dramatically over the past 6 months, and our biggest challenge has shifted from finding qualified buyers, to finding homes for those buyers.

We’ve highlighted the recent reports and statistics on this blog, but this is just more news showing a upward trend in demand.

If you would like to talk more about Denver homes for sales of the Denver Foreclosures market, give our team a call at 303-726-1874.

Our team listed a gorgeous, five bedroom home in Kentley Hills Highlands Ranch yesterday. This large (nearly 3,300 finished square feet) home has granite counters, custom paint, backs to a greenbelt, and is just stunning. In addition, this home has 4 full bedrooms upstairs (plus one in the basement) – something rare for Highlands Ranch homes in this price range.

With a full finished basement, a private backyard, formal living and dining room and vaulted ceilings, this home has everything you’re looking for!

The number of homes on the market in Kentley Hills Highlands Ranch has been down in recent months – and those that are listed move quickly. Priced at just $354,900, this large home will sell quickly, so if you’re interested in seeing it, give our team a call at 303-726-1874.

Kentley Hills Highlands Ranch:

10082 astorbrook ln highlands ranch 80126 $354,900.00

Beds: 5      Fin Sq Ft: 3227 Baths: 4     Year: 1999 Acres:0.13 # of Photos Avail: 2 V-tour Available:  Yes MLS #: 1065344 Listing Office: mb the brian petrelli team

Broker Remarks:  wow! absolutely gorgeous home with 4 bedrooms upstairs and 1 in the basement! perfect kitchen with granite counters, cen… more… Disclosures

Our team does a great deal of work with Highlands Ranch homes. In fact, our managing broker lives in Kentley Hills, so if you have questions on the area, give us a call and get all the information you need.

One of the best complexes for Littleton Townhomes in the south west Littleton area is the Dakota Station Townhomes neighborhood. Our team has helped numerous buyers and sellers in this complex over the years. Its location is ideal; close to c-470, Chatfield State park and offering a gorgeous view of the foothills.

HUD just released a new listing in the neighborhood for a 2 bedroom, 3 bath home. It has nearly 1,000 square feet and is priced at just $91,000. In addtion, like all other Denver HUD homes, this unit qualifies for the HUD $100 down payment program.

If you’re looking at Littleton townhomes, this is definitely a home you’ll want to put on your list. Give us a call today at 303-726-1874 to schedule a time to see it.

Dakota Station Townhomes:

HUD Owned Home 9641 w chatfield ave littleton 80128 $91,000.00 est $

Beds: 2      Fin Sq Ft: 998 Baths: 3     Year: 1986 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1064811 Listing Office: alpine real estate

Broker Remarks:  this home may qualify for the $100 down payment program, this one is a beauty, great for first time buyer, 2 master bedr… more… Disclosures

If you are interested in Littleton foreclosures or other Littleton homes for sale, give our team of experts a call at 303-726-1874.

We’ve received quite a few calls this week from buyers looking at Castle Rock foreclosures. Unfortunately, the inventory for these foreclosures is down. The good news, is that there a few great deals on some HUD Castle Rock homes for sale right now.

The homes below qualify for the HUD $100 down payment program (as do all Denver HUD homes), but we don’t expect them to remain on the market for very long. We’ve had several buyers get out bid on the small inventory of HUD homes over the past couple of months, so if you are interested, call us today to see the home and if you bid, make sure your bid is strong.

You can reach our team at 303-726-1874.

Castle Rock Foreclosures:

HUD Owned Home 106 ash ave castle rock 80104 $145,000.00	Beds: 4      Fin Sq Ft: 1755 Baths: 2     Year: 1961 Acres:0.23 # of Photos Avail: 5 V-tour Available:  No MLS #: 1062761 Listing Office: elist realty, llc	Broker Remarks:  light and bright 3 bedroom 1 bath home on large fenced lot. property has large, updated eat-in kitchen, family room, and… more… Disclosures
		HUD Owned Home 4951 n silverlace dr castle rock 80109 $188,400.00	Beds: 3      Fin Sq Ft: 2332 Baths: 3     Year: 1994 Acres:0.1 # of Photos Avail: 5 V-tour Available:  No MLS #: 1052798 Listing Office: new & company	Broker Remarks:  spacious 3 bedroom, 3 bath home with finished basement. fireplace in family room. living room, dining room, large deck… more… Disclosures

Our team can help you with any of the available Castle Rock foreclosures, short sales or Castle Rock homes for sale. Just give us a call at 303-726-1874 and let us know what you need.

Our team is excited to announce that Suzanna Von Hurst is bringing her vast expertise on Fix and Flip Denver Homes and investment property to our team. Suzanna has been an agent for several years, but even before she obtained her license, she was successfully buying and “flipping” homes across the metro area.

With her experience and knowledge, as well as her industry connections, were thrilled to have her as a resource for both our clients and the other agents in our company.

As many of you in the industry know, “flipping” homes in the Denver area has become much more difficult over the last few years. In the past, most Denver foreclosures could be purchased, refurbished and flipped for at least a small profit. Now the profit margins are tighter and the margin for error is smaller.

 While Fix and Flip Denver Homes can still be profitable, the entire endeavor must be done with the proper planning and the right knowledge. If you’re interested in learning more about investing in these types of homes, you owe it to yourself to give Suzanna a call.

Suzanna can be reached at 303-263-3581.