The national home sale numbers arrived this week to a surprising increase of 3.1% which is 5 million for July. This number was much higher than expected.
Due to inflation and looming threat that the US is in a recession, the Fed determined to keep the rate unchanged.
Notice of trustee sale and foreclosure are once again making news. Arizona Republic had an interesting statistic :
SCOTTSDALE - About 800 Northeast Valley property owners lost their homes to foreclosure in the first half of this year, nearly five times as many as the same period a year ago, according to a data analysis by The Arizona Republic. Plus, nearly 2,000 area homeowners have been issued a notice of trustee sale, a precursor to foreclosure. That is nearly three times as many as the first six months of 2007.by The Arizona Republic
I'm recommending my investors invest in property. The rental market is strong and stronger in certain areas. I know the areas if you want to send me an email. My reasoning for this rental surge is simple, if foreclosures are at an all time high, where are these people living? Are they moving back with mom and dad? Or are they renting?
Start by looking at pre-foreclosure and foreclosure property.
Pinnacle Peak area has 14 homes and Scottsdale has over 490 homes where the home owners or banks have entered into a short sale, pre-foreclosure or foreclosure. If you want a list of these properties or other areas, send me an email at AzForecloseList@EmmetAcebedo.com
Top 5 Fastest Growing U.S. Cities The fast-growing areas in the United States are in the Sunbelt, with Texas leading the way, according to data released today by the U.S. Census Bureau.
Average days a Scottsdale home is on the market 117 days
Sales by Zip Code for Q2: 85250 $309,300 85251 $388,100 85253 $1,704,500 85254 $461,600 85255 $737,900 85257 $227,500 85258 $488,600 85259 $594,600 85260 $452,100 85262 $1,281,900
Home Sales Report for Scottsdale 2008 Total Home sales: 1213 from 6/1/2008- 6/30/2008 Average selling price $387,100
Home Sales Report for Scottsdale 2007 Total Home sales: 1366 from 6/1/2007- 6/30/2007 Average selling price $512,700
Sellers: My advice is the same, patients are my best advice. Know your competition in your neighborhood, even if it's a foreclosure. With the added foreclosures entering the market can saturate your bottom line. Sellers need an open mind when pricing and alternative selling techniques. Call me and I can explain what I'm talking about.
Buyers: One word - "Foreclosures" This is where the market is. You can expect to find homes under market value. In some cases these foreclosure have renters ready to move in. If you are interested in my foreclosure list give me a call or send me an email. AzForecloseList@EmmetAcebedo.com
ZIP Codes: 85250, 85251, 85253, 85254, 85255, 85257, 85258, 85259, 85260, 85262 Location Characteristics: Scottsdale, Arizona, world renowned for its luxury and many resorts, favorable economic climate and resplendent lifestyle is the pristine location for the ultimate destination.
About Emmet Acebedo:
I was born and raised in Long Beach, Ca. I moved to Arizona twelve years ago, to flee the overpriced housing market and to get more serious about school. After graduating from DeVry University Phoenix with an Electronic Degree I went to work for a French owned High Frequency Component Company. 5 years later and plenty of frequent flyer miles, I wanted to work at a place with a little less foreign politics. I decided I could focus my energy toward Real Estate. I was raised around parents that bought and sold real estate just about every two years. As I noticed early on in real estate it seemed easy to buy and sell with out representation and contracts were 1 page. As the years went on I noticed the apprehension and continuing uneasiness my parents had through represented buyers and sellers. I felt I needed to do something about it, now my parent have someone that they can count on and trust and that makes me happy. Since moving to Scottsdale, Arizona and missing the surf and sand that is 5 hours away.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
