Although the Phoenix market is flooded with foreclosures and short sales, the buyers continue to show strong activity, largely due to the first time home buyer tax credit, and low interest rates. We are seeing an increase in investor activity as well, with long-term investment potential very good, as properties are now available at low prices. We're seeing multiple offers in the under $100K price range, and steady activity in the $1-$1.5M price range. Standard resale property moves quickly when it's priced right and in excellent showing condition, with sellers getting at or above list price. Many buyers are looking for move-up homes which are not bank-owned or short sales.
