The Brian Petrelli Team Blog

We’ve been working with several buyers searching for Parker Condos. There have been very few, HUD homes on the market, so we were excited when HUD listed this townhome in Stroh Ranch Townhomes.

If you are unfamiliar with the complex, it is located roughly 2 miles south of Main Street off of Parker rd. These townhomes were built in the late 90’s and are a great value for anyone looking in the area. With easy access to C-470 and I-25, these homes offer a great location at a terrific price.

If you’d like to tak a look at this home, or learn more about the HUD $100 down payment program (which this unit qualifies for), give our team a call at 303-726-1874

HUD Owned Home 19440 e mann creek dr parker 80134 $143,000.00	Beds: 2 Fin Sq Ft: 1052 Baths: 2 Year: 1998 # of Photos Avail: 5 V-tour Available: No MLS #: 1054809 Listing Office: mb cliff johnson realty	Broker Remarks: beautiful 2 bed 2 bath townhome with attached garage. like new condition. large master with private bath. hud owned sold… more… Disclosures

Our team can help you with all of the available Parker condos and townhomes. Give us a call today to talk about Parker foreclosures, short sales and standard resales. Remember, all of the active Denver HUD homes qualify for the HUD $100 down payment program and we can help you navigate through it. You can reach us at 303-726-1874.

Some more good news for Denver homes for sale. Data from November of 2011 and 2010 show that home prices rose year over year. Even more importantly, these statistics included Denver distressed properties as well as standard resale homes (Distressed properties included Denver foreclosures and short sales).

This is in stark contrast to the nationwide data which showed a 4.3 percent year over year decline. Just one more reason to tak all the of the news articles you read on a nation housing crisis with a grain of salt. Denver is performing much better than average.

From The Denver Business Journal:

Home prices in the Denver metro area rose in November 2011 from the same month a year earlier, according to the latest Home Price Index report, issued Monday by CoreLogic Inc. CoreLogic Inc.Latest from The Business JournalsMilwaukee-area home sale prices dropped in NovemberCoreLogic: Orlando home prices see small dropAtlanta home prices down 8.2% in NovemberFollow this company

The report said home prices, including distressed sales, in the Denver-Aurora-Broomfield area were up 1 percent year-over-year in November.

Excluding distressed sales, CoreLogic reported a 1.5 percent year-over-year rise in November.

This is just one more indication that the Denver market is slowly improving. We’re not seeing big spikes of improvement, but the market for Denver homes for sale has been gradually improving for many months now.

If you’d like to talk about The Denver market, Denver foreclosures or Denver distressed properties, give our team a call at 303-726-1874.

We’ve had some calls from buyers looking at Littleton Condos wondering if the HUD $100 Down Payment program is only available on Denver HUD homes, or if it is available on all listed HUD homes. The good news is that all listed HUD homes are eligible for this program – regardless of the city. However, if you you are interested in this program, please undrstand that this HUD $100 down payment program is only available to owner-occupants, not investors.

While this program is increasing competition for HUD homes, the are still some great deals on Littleton Foreclosures that qualify for this program. We’ve posted some of the best deals below, but if you’d like a complete list of Denver HUD homes or would like to speak with our team more about this program, give us a call at 303-726-1874.

Littleton Condos Eligible for the HUD $100 Down Payment Program:

Fantastic price on this large 1,300 Littleton townhome with open basement and 2 car attached garage.

HUD Owned Home 5990 s jellison st littleton 80123 $158,400.00

Beds: 2 Fin Sq Ft: 1337 Baths: 3 Year: 1997 # of Photos Avail: 5 V-tour Available: No MLS #: 1045903 Listing Office: envision it sold, inc

Broker Remarks: great potential. fixer upper, needs work. vaulted ceilings, skylight. plenty of sunlight. wood floors. open basement. ba… more… Disclosures

Great deal on this Condo located in The Crossings Chatfield Condos. 1,100 square feet. Bids due on te 9th of January.

HUD Owned Home 8314 s everett way littleton 80128 $137,000.00

Beds: 1 Fin Sq Ft: 1108 Baths: 2 Year: 1984 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1054570 Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-493003 bid deadline daily @ 11:59 pm. investor offers after 1/9/2… more… Disclosures

As always, if you have questions on Littleton foreclosures or Littleton Condos, give our team a call at 303-726-1874. We’re here to help.

If you’ve spoken to any of our team’s agents over the past few months, you know that the biggest problem we’re facing isn’t Denver foreclosures, short sales or HUD homes. rather, the biggest issue we’re dealing with is the lack of inventory; There just aren’t enough homes to meet all of our buyer’s needs.

If you’ve been reading the news for the past 3 years, this may come as a shock, but the fact is that many people are holding off selling their homes if they don’t have to. This is causing inventory to plummet. And it seems that our anecdotal evidence is finally being reported.

Here’s a story from today’s Denver business Journal:

The inventory level of metro Denver single-family homes and condominiums continued to fall in December, holding a trend that has grown pronounced in the last couple of months, according to a report Tuesday drawing on Metrolist Inc. data.

The 12,531 homes on the market in December represented a 12 percent drop from November, and a 34 percent drop from December 2010, the report states. That number marked a 24 percent drop from December 2009’s 16,456 homes on the market.

“Prospective home sellers are still sitting on the fence,” said Gary Bauer, an independent, Littleton-based real estate broker and Metrolist analyst.

The continuing decline in inventory started in July and led Bauer to predict last month the level could hit 10,000 soon.

Read the whole article. Here’s what I’ve been saying for months, echoed in the article:

“I do believe that 2012 is going to be better than 2011, but I don’t believe it’s going to be a dramatic rebound,” Bauer said. “There’s going to be steady progress on transactions and prices, but not big increases. Everyone’s going to keep focused on the economy and that’s going to cause several prospective home-buyers to sit on the fence.”

It will be interesting to see how this inventory begins to affect prices. i still maintain our market is rebounding – very slowly.

If you would like to talk about Denver homes for sale, Denver foreclosures or Denver HUD homes, give our team a call at 303-726-1874.

It looks like the trend we’re seeing in Denver Homes for Sale is taking place at a national level as well. As we’ve been reporting here, the number of buyers has been increasing for months. And while prices are only trending upward slightly, it is a very positive sign that the number of Under Contract and Pending homes for sale are increasing.

This article from AOL, gives a good summary of the national picture – cautious optimism:

The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half.

The best reading on pending homes sales since a federal home-buying tax credit expired appeared to encourage traders on Wall Street.

Still, the National Association of Realtors cautioned that a growing number of buyers are canceling their contracts at the last minute, making the gauge less reliable.

The Realtors group said Thursday that its index of sales agreements jumped 7.3 percent last month to a reading of 100.1.

Always remember, that trends – no matter how positive or negative – should never be substituted for local data. Over the past couple of years, prices for Highlands Ranch homes for sale have remained fairly stable while nearby areas like Aurora and Arvada have been hit much harder. If you’re considering a specific area, give us a call and we can run neighborhood specific date for you. You can reach our team at 303-726-1874.

Also, factors like foreclosures and short sales impact numbers dramatically. You can see all of the available Denver HUD homes on our website or for a list of recently sold HUD homes, give us a call.

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This has been a slow week for Littleton foreclosures. With the Christmas and New Year’s holidays, few new listings have hit the market. That’s why we were surprised when this large 3 bedroom HUD home came up in Kipling Villas.

Located in west Littleton, Kipling Villas is just south of Bowls between Kipling and Wadsworth. The neighborhood is close to C-470, the Southwest Plaza shopping area and Lily Gulch Park. Home typically sell in the high $100’s to mid $200’s, but this 2,000+ square foot HUD is listed at just $164,000.

In addition, this home qualifies fr the $100 HUD down payment program currently being offered. If you’d like more information on this home or the program, give our team a call at 303-726-1874.

Kipling Villas

HUD Owned Home 9529 w maplewood pl littleton 80123 $164,000.00

Beds: 3 Fin Sq Ft: 2070 Baths: 3 Year: 1976 Acres:0.14 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1056506 Listing Office: keller williams dtc

Broker Remarks: hud home, sold as is w/no warranties. hud case # 052-265640 bid deadline 12/28/11 @ 11:59 pm-daily thereafter. investo… more… Disclosures

Our team can help you with any of the available Littleton home for sale. Give us a call to discuss Littleton foreclosures, Denver HUD homes and all of you buying options. You can reach us at 303-726-1874.

Our team deals with Denver short sales and foreclosures every single day. Listing a short sales brings with it a myriad of bank policies, procedures and paperwork. We’ve gone out of our way to streamline this process for our sellers and make it as painless as possible. It appears that many of the banks continue to attempt to improve their process as well.

An article this morning from DSNews.com highlights a few of the programs we’ve been made aware of from the banks. It’s an interesting read and while many of these changes should have been made several years ago, it’s nice to see the banks changing:

From DSNews.com:

JPMorgan Chase is also offering a range of incentives to borrowers that agree to a pre-foreclosure sale “because if we can’t work out a modification, a short sale is a better result for the borrower, the servicer, the investor, and the neighborhood than a foreclosure,” the company said in a statement.

The article goes on to outline several of the banks and their new policies on short sales.

If you are interested in talking about Denver short sales, or need more information on potentially listing your home as a short sale, give our team a call at 303-726-1874. We’re experts in the area and have an entire team dedicated to making the process easy.

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So I have to admit that I checked out a little early last week before the Christmas holiday. In doing so, I missed the newer listing by HUD (One of only two Englewood condos they have listed).

This new listing is located in the Southcreek Townhomes complex between Jordon and Parker rd about a mile north of C-470. One of the best values in the area, Southcreek offers townhome from the low to upper $100’s. This HUD listing is an amazing deal. Currently a smaller resale unit in the complex is being listed at $171,000. This HUD offering has 3 beds, 3 baths, an attached garage and over 1,500 square feet. 

Check out the photos at the lin and then give our team a call at 303-726-1874. This home will not last long and you may be lucky enough to catch most people sitting out housing over the holiday week.

Southcreek Townhomes

HUD Owned Home 8062 s kittredge way englewood 80112 $123,000.00

Beds: 3 Fin Sq Ft: 1520 Baths: 3 Year: 2001 # of Photos Avail: 5 V-tour Available: No MLS #: 1056292 Listing Office: re/max momentum

Broker Remarks: three bedroom home in a desirable location near dtc-close to parks, schools, and shopping with easy access to highways-b… more… Disclosures

If you are interested in Englewood foreclosures, one of the most popular Englewood condos complexes in Windmill Creek condos. HUD has a great deal on a large, 2 bedroom unit in Windmill Creek wight now for just $90,000. This complex is just down the road from Southcreek Townhomes. Here are the details:

Windmill Creek Condos

HUD Owned Home 7440 s blackhawk st englewood 80112 $90,000.00

Beds: 2 Fin Sq Ft: 1128 Baths: 2 Year: 2002 # of Photos Avail: 5 V-tour Available: Yes MLS #: 1023038 Listing Office: re/max professionals

Broker Remarks: nice condo with a master bedroom that includes bath, walk-in closet & private patio, cozy corner, gas log fireplace nice… more… Disclosures

If you would like more information on Englewood foreclosures or Denver HUD homes in general, give our team a call at 303-726-1874. Our foreclosure experts can help you find the best deals on the market.

Some more good news came out today on the market for Denver Luxury Homes and Denver Luxury Foreclosures. The Denver Business Journal is reporting that sales of $1 million and up increased by over 20% this November from last November.

The statistics cover the entire Denver metro area and represent both Denver Luxury Homes and condos. The article and the underlying statistics are interesting and worth a look if your considering a higher end home in the Denver area. We’ve seen these trends repeating themselves in all price points and while we’re not seeing a huge uptick in pricing, the market is moving in a positive direction.

From The Denver Business Journal:

Forty-five local homes with a price tag of more than $1 million sold in November, up eight from the 37 sold in October and up one from November 2010, the report shows.

A similar report from independent Littleton broker Gary Bauer using Metrolist data shows an inventory of 650 residential homes listed for more than $1 million in November, and 74 condos.

If you’d like more information on Denver luxury foreclosures or luxury homes, give our team of experts a call at 303-726-1874. We can send you detailed reports for the specific cities or neighborhoods you are considering. The right information can make all of the difference when buying a Luxury home.

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Some more good news for Colorado foreclosures this morning. The Denver business journal is reporting that Colorado foreclosure filings dropped over 20% from the previous month and over 24% from November of the past year.

We’re seeing these numbers play out in a vastly decreased inventory of foreclosures for our buyers. While there are still some good deal available, you need to be able to move quickly and in many cases, outbid other buyers.

In addition, we’re seeing Denver HUD homes moving quickly due to the recent $100 HUD down payment program. This is motivating many buyers who would normally not be in a position to buy.

From the Denver Business Journal:

Colorado saw sharp declines in the number of properties with foreclosure filings in November, both from the previous month and from November 2010, according to a monthly report Thursday from RealtyTrac Inc. RealtyTrac Inc.Latest from The Business JournalsHawaii foreclosures fall 27% in NovemberNortheast Florida foreclosure filings down 9 percentAlabama foreclosures drop 46 percent in NovemberFollow this company

The state had 3,773 properties with filings last month, or one out of every 575 housing units statewide, down 20.22 percent from the October tally of 4,729 properties, or one in 458 properties, according to RealtyTrac, an Irvine, Calif.-based private marketer of foreclosure properties.

If you’d like to talk to our team of experts about the Colorado Foreclosure market of Denver HUD homes, give us a call at 303-726-1874. We can set you up on a daily email alert of all new foreclosures so you don’t miss any of the best deals on the market.

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