The Brian Petrelli Team Blog

As always, we’ve been showing many of our clients Denver HUD homesand foreclosures this week. As we’ve been searching we’ve come across a few great deals we thought you should know about:

Bow Mar Heights Homes:

4607 s wolff st denver 80236 $257,000.00

Beds: 4      Fin Sq Ft: 3301 Baths: 4     Year: 1978 Acres:0.23 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 945194 Listing Office: re/max professionals

Broker Remarks: great opportunity to own home in bow mar heights with 203k fha renovation loan. 4 bedroom, 3.5 bathrooms, 2266 sq ft + … more… Disclosures

 Harvey Park Denver Homes:

2770 s utica st denver 80236 $168,000.00

Beds: 4      Fin Sq Ft: 1948 Baths: 2     Year: 1955 Acres: # of Photos Avail: 5 V-tour Available:  No MLS #: 948880 Listing Office: metrowest real estate solns.

Broker Remarks: hud-owned property. case 052-407560 hud homes are sold as is, property may qualify for $100 down payment with fha financ… more… Disclosures

The seller says “SELL!”

The seller has dropped the price on this South Capitol Hill Homes by $40,000!

For you buyers looking at Denver Homes, South Capitol Hills is a great area and this is an amazing home! Give us a call at 303-726-1874 to see t before it’s gone.

401 s kearney st denver 80224 $389,500.00

Beds: 3      Fin Sq Ft: 2497 Baths: 3     Year: 2005 Acres: # of Photos Avail: 5 V-tour Available:  Yes MLS #: 943414 Listing Office: mb the brian petrelli team

Broker Remarks: **over $40,000 price reduction**gorgeous cust 2 sty in s capitol hill*hw flrs thru out main lvl* stunning ktch w st stl … more… Disclosures

Our seller in Morningside Condos has just reduced the price of this HUGE 1,300 square foot condo to under $100,000. This home has brand new carpet, and enclosed sunroom, 2 bedrooms and a “bonus” room.

 Give us a call at 303-726-1874 to see this or any of our other Denver Condos today!

6940 e girard ave denver, CO 80224 $98,000.00

Beds: 2      Fin Sq Ft: 1300 Baths: 2     Year: 1973 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 931642 Listing Office: mb the brian petrelli team

Broker Remarks: brand new carpet and paint, enclosed sunroom, underground parking – take the elevator up to your great home. 2 bedrooms … more… Disclosures

I’ve posted on this before, but I’ve received the question again twice this week, so I thought I would repost…

We get calls every week from home buyers asking why a home they are interested in is listed as being located in Littleton, when it should be listed in Highlands Ranch Homes for Sale.

The easy and surprising answer: There is no city of Highlands Ranch.

Yes, you read that correctly: Highlands Ranch is not a city. Rather, it is a Trademarked Name and subdivision located in Douglas County, and a part of unincorporated Littleton, Colorado. Shea Homes owns the trademark on “Highlands Ranch” and any business or club that uses the term “Highlands Ranch” has to have their permission to use it.

To many of you, that may come as a huge shock. Particularly since every addressing program in the United States has Highlands Ranch included as a city (there is even a Highlands Ranch Post office). On every real estate search engine you will see a city listed for Highlands Ranch Homes for Sale. But none of that changes the fact that legally, the city of Highlands Ranch does not exist.

Because of this, when an agents enters a Highlands Ranch Home for sale in the MLS, it automatically populates the city fields as “Littleton.” If the agent does not manually change the city, the Highlands Ranch Home will appear only under Littleton homes and not under Highlands Ranch Homes.

So How Do You Search for Highlands Ranch Homes?

If you want to make sure that your Highlands Ranch Homes search includes every possible home, here is what to do: First, choose both “Littleton” and “Highlands Ranch” in the city area of your search program. Secondly, add a zip code to your search. (Highlands Ranch zip codes are 80126, 80129 and 80130). This will ensure that no matter how the real estate agent listed the property into the MLS, you will find every home in the Highlands Ranch area. Remember that you’ll need to do this for Highlands Ranch Townhomes and Highlands Ranch Condos too.

How Does This Impact Mailing Addresses?

For those of you who live in or are moving to Highlands Ranch, you can still put “Highlands Ranch” as your address. The post office recognizes that most people don’t differentiate between the two areas and your mail will still be delivered.

However, if you are listing your home for sale, and your agent has listed your home as being in Littleton and not in Highlands Ranch, realize that you will be missing out on many potential buyers that don’t know this information or haven’t talked to a knowledgeable real estate agent.

Our newest agent, Jesse Sardakowski, will be listing a great home in the Falcon Ridge Centennial Homes area in the next week. Homes in this area do not come up often, and we’re excited to bring it to you. We’ll have pictures and information up by the end of the week.

In addition, Jesse has been doing quite a bit of work with Oakbrook Centennial Homes. He’s been walking the area and meeting homeowners there. If you live in the area, you’re sure to see Jesse walking around. Stop him and say hi. Jesse loves to talk 😉

Speaking of Centennial homes, we came across this HUD home in the area. Its incredible low price and size ensure it won’t stay on the market long. Check it out an dgive us a call if you’d like to see it for your self:

The end of October of 2010 brought about a change in the way Denver HUD homes are listed and the way bids are accepted. This change will benefit owner occupants and lengthen the time that Denver homes are available as a HUD home before investors can place bids.

In the past, Denver HUD homes were initially listed for a set period of time (usually about 10 days). During this time, bids were only accepted from owner occupants and the bidding was left open during that time period. This allowed buyers 10 days to place bids and several bids could be submitted to HUD during those 10 days by multiple buyers.

After that open period, HUD would make a determination and either accept the highest bid, or, if there were no acceptable bids, HUD would allow investors to bid on the home. Once this initial period was finished, HUD homes were treated much like other Denver Homes and a bid from either an investor or an owner occupant would be looked at individually and either accepted or rejected on its merits. Things are now a bit different.

At the end of October 2010, the management of Denver HUD homes was taken over by another company. Now the timeline for these Denver Homes has been altered. there are two sets of circumstances for Denver HUD Homes: FHA Insurable and FHA Non-Insurable. The definition and determination of insurable versus non-insurable is beyond the scope of this article. here we will only explain how bids are accepted. For more detailed information on these types of statuses, consult your agent.

FHA Insurable Denver HUD Homes

Currently, when HUD places FHA insurable Denver HUD homes on the market, there is a 10 day period where only bids by owner occupants (non-investors) will be accepted. HUD will wait the entire ten days to accept multiple bids and make a determination of acceptance after this 10 day period. If no acceptable bid is made, the home is then opened to only owner occupants for a period of 20 days. However, during this 20 day period, HUD can accept any acceptable bid placed on the home and there is no need to wait the full 30 days for a decision from HUD.

If no accepted bid is made, then the listing will be treating like other Denver homes and the bidding will be opened up to investors as well as owner-occupants. There is no time period for acceptance and all bids will be accepted on a first come basis.

FHA Non-Insurable Denver HUD Homes

For non-insurable HUD homes, the process is much different. These homes will be available to owner-occupants for a period of only 5 days. After that five day period, HUD will determine which, if any, bids to accept.

If after that 5 day period no bid is accepted, then the bidding will be opened to all types of bidders – investors as well as owner occupants. This ensures that a home with non-insurable status is not unnecessarily kept on the market for 30 days.

These are major changes and will impact your bidding strategies for Denver HUD homes, especially for investors. Contact us to make sure you’re receiving daily email alerts and market reports so you are in a position to bid quickly on all of the available Denver homes: 303-726-1874

 If you’re in the market for anything in the area of Centennial Homes, then you’re no doubt familiar with Broadway Estates Homes. This established area in Centennial is just north of Arapahoe rd and East of Broadway.

Currently, HUD has a 3 bedroom, 2 bath brick ranch home with over 1,800 square feet for just $180,000! Check out the pictures below and then give us a call at 303-726-1874 to see this home or any of the other Denver HUD homes available.

6691 s wellington ct centennial 80121 $180,000.00

Beds: 3      Fin Sq Ft: 1801 Baths: 2     Year: 1959 Acres: # of Photos Avail: 5 V-tour Available:  Yes MLS #: 944702 Listing Office: aspen real estate

Broker Remarks: all brick ranch style home in southglenn area. beautiful original hardwood floors through out! needs a little tlc, but g… more… Disclosures

In our regular search of Littleton Homeson the market, we came across a few Littleton HUD homes that are priced very well.

Leawood Homes Littleton

Leawood in Littleton is located just east of Clement park. This is a great area with Southwest Plaza Nearby and plenty of other shopping and restaurants withing walking distance. Right now, HUD has this nearly 2,000 square foot home for only $225,000.

HUD Owned Home 6086 s lamar dr littleton 80123 $225,000.00

Beds: 4      Fin Sq Ft: 1953 Baths: 3     Year: 1969 Acres: # of Photos Avail: 5 V-tour Available:  No MLS #: 945619 Listing Office: re/max alliance dtc

Broker Remarks: great hud home with insured escrow (ie) $1700.00. great location in lakewood.4 bedroom 3 bath home just needs a buyer’s … more… Disclosures

Marina Pointe Littleton

We’ve talked extensively on this blog about Marina Pointe. This is a great neighborhood located just off of Wadsworth north of C-470. The location of this complex is fantastic and the prices are hard to beat for Littleton Condos.

HUD Owned Home 8422 s upham way littleton 80128 $110,000.00

Beds: 2      Fin Sq Ft: 957 Baths: 1     Year: 1997 Acres:0 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 944701 Listing Office: aspen real estate

Broker Remarks: this spacious condo has spectacular mountain views from the walkout balcony. two large bedrooms with plenty of closet sp… more… Disclosures

Dakota Station Homes Littleton

Dakota Stations is an area with both Single Family Homes as well as Townhomes. HUD has a 2,100+ square foot single family home on the market in this area for $210,000! This is a tremendous deal and I don’t anticipate it to last long at this price. 

HUD Owned Home 9483 w elmhurst pl littleton 80128 $210,000.00

Beds: 3      Fin Sq Ft: 2171 Baths: 3     Year: 1983 Acres:0.11 # of Photos Avail: 5 V-tour Available:  Yes MLS #: 945097 Listing Office: aspen real estate

Broker Remarks: spacious home with 3 bedrooms and 3 bathrooms located in great neighborhood. large kitchen with island and breakfast noo… more…  Disclosures

 See all Denver HUD Homes at our website.

A couple of new Westminster HUD Homeslisting popped up for us this morning on our daily search. Recently we’ve seen a reduction in the number of Westminster Homes being listed as foreclosures, so we were excited to see these two houses:

Lakeview Estates

Lakeview Estates is found on the southwest corner of 72nd and Sheridan. This is a great neighborhood in Westminster with no HOA fees. This nearly 1,200 square foot house is a fantastic deal priced at $155,000!

HUD Owned Home 7045 yates st westminster 80030 $155,000.00

Beds: 3      Fin Sq Ft: 1161 Baths: 2     Year: 1978 Acres: # of Photos Avail: 1 V-tour Available:  No MLS #: 944266 Listing Office: mb denver colorado realty

Broker Remarks: lakeview estates ranch with full basement 2 car garage 3 bedroom 2 bath see hudhomestore.com for bidding. bidselect.com … more… Disclosures

Quail Crossing

Quail Crossing is located between 136th and 128th between Zuni and Huron in northern Westminster. There are no HOA fees. This 3 bed, 2 bath home has almost 1,800 square feet and is priced at $165,000.

HUD Owned Home 1441 w 132nd pl westminster 80234 $165,000.00

Beds: 3      Fin Sq Ft: 1749 Baths: 2     Year: 1995 Acres:0.1 # of Photos Avail: 1 V-tour Available:  No MLS #: 944771 Listing Office: mb denver colorado realty

Broker Remarks: tri-level with basement covered patio, kitchen w/ eating space jack & jill mstr bth, vaulted ceilings finished basement … more…  Disclosures

 You can see all Denver HUD homes on our website

In our routine search of Centennial Homes, we came across this deal in the Park View Centennial Homes area.

This 3 bedroom home is nearly 2,000 square feet and is priced under $170,000! Built in 1987, this home is located just north of Smokey Hill rd and East of Himalaya St. That puts this home on the far east side of Centennial and near the Aurora Homes area.

Give our team a call today to check out this home at 303-726-174. Or, as always, see al Denver HUD Homes on our website.

20389 e powers pl centennial, CO 80015 Park view $169,000.00

Beds: 3      Fin Sq Ft: 1965 Baths: 3     Year: 1987 # of Photos Avail: 5 V-tour Available:  No MLS #: 944108 Listing Office: envision it sold, inc

Broker Remarks: great family home. hud owned. case #052-432255. hud homes are sold ‘as is’. property may qualify for $100 down payment w… Disclosures