Active listings are outpacing pendings and solds by more than 14 to 1. This market is in the Buyers side because Sellers are willing to negotiate and there are some deals to be made because of the inventory. Pricing is now stabalizing with slight drops because the forclosure and short sale homes values have already been calculated into the base prices. The short sale or preforclosure, and forclosure properties are driving the market in the quantity of them on the market. These are great deals if you are willing to put in a little elbow grease and can stand the waiting on responses from the lenders. Short sales are definitely more difficult to work with and investiagation as to how many loans and how short is needed. Forclosures and Short Sales they are usually sold "AS-IS", I recommend a good Home Inspection before purchasing these properties. Many new home specs are drying up which is helping the prices to stabilize. Be careful of new home builders rebates on prices. Many of the new home builders are offering incentives of $$ off of the price telling the buyer that they are getting instant equity. Once these properties close and the lower price hits comps in the area, all that so called equity vanishes. When looking for incentives look for upgrades to the property (ie landscaping, countertops, flooring, window treatments, apliances...)
ZIP Codes: 85310, 85308, 85306, 85304, 85302, 85301, 85303, 85305, 85053, 85029, 85051 Location Characteristics: Great Area with convient shopping, freeway access, closer to the central corridor while still being on the growing westside. Area has a mixture of new and older homes. Area has some new growth towards the west side of town. But is one of the slowest moving areas in Phoenix.
About Lori P. Crilley:
I am an experienced, dedicated, ethical Realtor, Realty & Mortgage Counselor, who has service, to you, as my top priority. I can helpy you get the best financing or refinancing for your real estate needs. If you buy or sell with me, you receive a one year free home warranty. I am experienced with shortsales.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
