The Brian Petrelli Team Blog

The good news on Denver foreclosures keeps coming. The number of Colorado foreclosures reached the lowest level since 2006. The total number of foreclosures for 2011 show a 25% decline from 2010.

These number continue to correspond with the statistics and housing inventroy we’ve been seeing over the past year. Inventory number continue to decrease and we’re finding the number of Denver HUD homes and foreclosures decreasing at a faster rate than the traditional resales.

From the Denver Business Journal:

Colorado foreclosures in 2011 reached their lowest level since 2006, the state Division of Housing reported Wednesday.

New foreclosure filings in Colorado, which may or may not lead to the auction of a home, last year totaled 31,914, down 25 percent from 2010 levels. Meanwhile, foreclosure sales at auction totaled 19,622 in 2011, down 17 percent.

Both totals were the lowest statewide since 2006, the report said.

While the decrease in foreclosures doesn’t mean that things are going to improve overnight, these numbers serve to strengthen a trend we’ve been seeing for the past year.

As with all real estate, everything is local. If you’d like information on foreclosures in a specific neighborhood or city, give us a call at 303-726-1874. The numbers for Denver foreclosures can vary wildly from neighboring cities and areas.

 I spent yesterday afternoon showing a client several Parker Foreclosures. There are some great deals on the market right now. Many of these foreclosures are in great condition and don’t show like traditional Parker Distressed properties. Some have newer carpet and paint and need very little work to move into.

HUD listed two new Parker foreclosures over the weekend and both are located in Stroh Ranch Parker Homes. Stroh Ranch is one of the more popular areas in Parker and is located just off of Parker rd, roughly 2 miles south of Main Street. This allows easy access to C-470 and the tech center as well as all that Parker has to offer.

Stroh Ranch Parker Homes – Foreclosures: 

HUD Owned Home 19197 e molly ave parker 80134 $203,500.00	Beds: 3      Fin Sq Ft: 1465 Baths: 3     Year: 1992 Acres:0.17 # of Photos Avail: 5 V-tour Available:  No MLS #: 1063200 Listing Office: keller williams dtc	Broker Remarks:  hud home, sold as is w/no warranties. hud case # 052-367667. bid deadline 2/6/12 @ 11:59 pm-daily thereafter. investo… Disclosures
HUD Owned Home 19104 e oak creek way parker 80134 $235,000.00 Beds: 3      Fin Sq Ft: 2133 Baths: 3     Year: 1997 Acres:0.14 # of Photos Avail: 1 V-tour Available:  No MLS #: 1063250 Listing Office: westfall & company marketing Broker Remarks:  hud owned* sold as is*beautiful home in stroh ranch*wood floors*open floor plan*… Disclosures

 If you’re interested in talking with our team about Parker foreclosures, or any of the available Parker homes for sale, give us a call at 303-726-1874 today.

Highlands Ranch patio homes are always in high demand, yet hard to find. Sometimes the reason is that listings in the MLS are not entered correctly. This is the case with the home HUD just listed on Laurenwood.

While located in one of the most affordable neighborhoods for Highlands Ranch patio homes (The Villages Highlands Ranch), the “Patio / Cluster Home” check box was not checked. So, if you’re searching for patio homes in Highlands Ranch, this home would not come up.

This is a great deal ona home this size in this neighborhood. With 3 beds and 3 baths, we expect this PAtio home to sell quickly. If you’d like to see it, give us a call at 303-726-1874.

The Villages Highlands Ranch

HUD Owned Home 1407 laurenwood way highlands ranch 80129 $220,000.00

Beds: 3      Fin Sq Ft: 1619 Baths: 3     Year: 1996 Acres:0.1 # of Photos Avail: 5 V-tour Available:  No MLS #: 1062143 Listing Office: westfall & company marketing

Broker Remarks:  hud owned*sold as is*open floor plan*kitchen has a breakfast bar, oak cabinets, tile counters and hard wood floors*oak h… more… Disclosures

If you’d like to learn more about Highlands Ranch homes for sale or Denver HUD homes, give our team a call at 303-726-1874 today.

We proud to announce that our newest listing in Quail Run Townhomes Aurora CO went under contract in just 7 days. If you’re in the market for Aurora Townhomes, STOP listening to the media and reading the stories of the dismal real estate market. Properties are moving quickly because the market inventory is incredibly low!

We have buyers that are getting outbid on Denver HUD homes every week and we can’t find suitable resale homes for them either. This is GREAT news for Sellers. If you are thinking of putting your home on the market. Last week, we put two homes under contract in less than a week.

Quail Run Townhomes Aurora CO:

1119 s waco st aurora, CO 80017 $64,900.00 est $

Beds: 2      Fin Sq Ft: 784 Baths: 1     Year: 1984 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1060865 Listing Office: mb the brian petrelli team

Broker Remarks:  fantastic end, ranch unit! vaulted ceilings, private, fenced backyard area with patio. with all all appliances included,… more… Disclosures

If you would like more information on this, or any other available Aurora Townhomes, give our team a call at 303-726-1874. We can help you find the right home for your needs. And again, if you’re thinking of selling, call us today to find out how we’re selling our listings so quickly!

We listed this investment property in The Meadows Castle Rock Homes on Tuesday. On Friday, we were under contract. 

We’ve been trying to emphasize that the current inventroy of homes is incredibly low. There is a strong demand for the right homes at the right price. If you are thinking of selling your home, don’t believe the negative news stories. Instead, let us run the market statistics and comparables on your home and show you what your real options are. You might be surprised!

 The Meadows Castle Rock Homes:

This fantastic 3 bedroom, 2 bath house is rented with a long term tenant all the way through of August. Also, this tenant has informed the current owner that they would like to remain for years to come. if you’ve been searching for Castle Rock homes for sale looking for a rental property, this could be it.

Typically, investors looks at Castle Rock distressed properties or Castle Rock foreclosures when they are considering investment purchases. these types of properties can lead to several uncertainties and unplanned costs. This home is ready to go now and is truly a turn-key opportunity for an investor. If you’d like more information, give our team a call at 303-726-1874.

Our team is excited to announce our newest listing in Quail Run Townhomes Aurora CO. If you’re in the market for Aurora Townhomes, make sure you take a look at this great 2 bedroom, 1 bath, ranch style end unit. This home has a fenced in backyard with a deck, vaulted ceilings and all appliances are included!

If you are unfamiliar with Quail Run Townhomes, they are located just off of Mississippi Ave just east of Buckley Rd. Providing easy access to I-225 as well as DIA, this home is in a great location.  Make sure you check out the virtual tours on our website by following the link below.

Quail Run Townhomes Aurora CO:

1119 s waco st aurora, CO 80017 $64,900.00 est $

Beds: 2      Fin Sq Ft: 784 Baths: 1     Year: 1984 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 1060865 Listing Office: mb the brian petrelli team

Broker Remarks:  fantastic end, ranch unit! vaulted ceilings, private, fenced backyard area with patio. with all all appliances included,… more… Disclosures

If you would like more information on this, or any other available Aurora Townhomes, give our team a call at 303-726-1874. We can help you find the right home for your needs.

Our team is thrilled to list this investment property in The Meadows Castle Rock Homes. This great 3 bedroom, 2 bath home is fully rented with a long term tenant through the end of August. In addition, this tenant has indicated that they would like to remain well past that date. if you’ve been looking at Castle Rock homes for sale trying to find a great rental property, this is it.

The Meadows Castle Rock Home:

Many investors looks at Castle Rock distressed properties or Castle Rock foreclosures when they consider investment properties. This can lead to a number of uncertainties and unplanned expenses. This property is ready to go now and is truly a turn-key opportunity for an investor. If you’d like more informatin, give our team a call at 303-726-1874.

It looks like the shrinking inventory we’ve been detailing here is beginning to expand into Denver Luxury homes as well. As we’ve discussed on our blog, the inventory of available homes in the metro Denver area continues to shrink. We’ve seen it in almost all markets and price points, from Denver HUD homes to Denver luxury foreclosures. But now, it appears that the more standard resale luxury homes are experiencing the same problem.

From the Denver Business Journal:

The number of luxury homes available for sale in metro Denver continues to drop, according to a report analyzing multiple listing service data released Tuesday.

There was an inventory of 566 residential homes available for sale in December, down from 650 available in November, according to the report from independent Littleton broker Gary Bauer using Metrolist Inc. Metrolist Inc.Latest from The Business JournalsReal estate brokers predict healthier 2012 residential marketHome inventory continues to tighten in metro DenverDenver-area luxury home sales up in NovemberFollow this company data. That inventory level marked a steep 35 percent drop from the 875 available in December of 2010.

Those numbers, culled from the 11-county Denver area, did not include condos. A luxury home is defined as having a price tag of $1 million or more.

The reasons for the shrinking inventory is complex, but one of the main reasons is that those sellers who don’t have to sell, aren’t.

It will remain interesting to watch what this lack of inventory will do to prices, but in areas where we’ve seen diminished inventory for months (i.e. Denver HUD homes) our clients are being forced to bid above asking price to successfully win bidding wars.

if you’re interested in learning more about the markets for Denver luxury homes, Denver luxury foreclosures or just the market in general, give our team a call at 303-726-1874. We can run a market specific report for you so you have the knowledge to make te right decision.

With the low inventory, now may be the right time to sell!

More good news today on Colorado foreclosures and bank owned homes. Realty Track has a report, summed up nicely in The Denver Business Journal, detailing the 28.6% decline in foreclosure filings from 2010 to 2011.

While some of these numbers are a result of some banks facing legal issues and other process delays, it does square up with the lower foreclosure inventories we’ve been seeing on the market. When you add in some of the incentives that Fannie Mae and Denver HUD homes are offering, the inventory for these foreclosures is only going to diminish further.

From the Denver Business Journal:

Colorado saw a 28.6 percent decline in the number of properties with foreclosure filings in 2011 from the year before, but still had among the 10 highest foreclosure rates in the nation, according to a report Thursday from RealtyTrac Inc. RealtyTrac Inc.Latest from The Business JournalsOregon foreclosures down 40% in 2011Mecklenburg County foreclosure filings rose in December 2011 foreclosures down because of delayed filingsFollow this company

The state had 38,557 properties with filings in 2011, or one out of every 56 housing units statewide, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

As with all real estate statistics, everything is local. The term “Colorado Foreclosures” is a broad term and different areas of the state have been affected in different ways. If you’d like specific stats on an area or neighborhood, give our team a call at 303-726-1874.

Also, these statistics do not include short sales or other Denver distressed properties.

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

Our newest team member, Jan Phillips, has a great new listing in north Littleton. If you’re in the market for Littleton homes for sale, make sure you visit our website and check out the specifics on this great 4 bedroom home. It’s located just south of Southwest Plaza and has easy access to downtown, C-470, the foothills and more.

The home has new windows, a three car garage and is nearly 1,900 square feet. With a big yard and deck, it’s a great deal on a terrific home!

Littleton Homes for Sale:

9032 w lake dr littleton 80123 $272,000.00

Beds: 4 Fin Sq Ft: 1875 Baths: 3 Year: 1998 Acres: # of Photos Avail: 5 V-tour Available: No MLS #: 1053523 Listing Office: mb the brian petrelli team

Broker Remarks: great family home in quiet neighborhood,4 bedrooms up,master bath,laundry on 2nd fl,big yard with deck,family rm with fi… more… Disclosures

If you are interested in Littleton homes, make sure you talk to our team about Littleton foreclosures and Littleton short sales. HUD has great programs right now and is offer a $100 down payment program on all of the metro Denver HUD homes. You can reach us at 303-726-1874.