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Home : Blogs : Megan Izdebska & Hanna Manoufar Chandler, Scottsdale Real Estate Agent : Megan Izdebska & Hanna Manoufar Chandler, Scottsdale Real Estate Agent's Blog

Report on Greater Phoenix Residential Trends, May 2012

Report on Greater Phoenix Residential Trends

Cash buyers taking over short sales
Noninvestors have tougher time buying short sale
Lender owned properties now more expensive than short sales

1.   With lender-owned listing inventory at low levels and declining, cash investors have moved to short sales.
2. Fifty-percent of short sales in April 2012 were purchased with cash compared to forty-percent in April 2011.
3.   Cash offers make it more difficult for noninvestors to buy when they attempt to buy a short sale with financing.
4.   Short sale lenders often prefer cash offers over offers with financing.

Lender Owned Properties Now More Expensive Than Short Sales
It used to be that a short sale sold for more than a lender owned sale. That has changed. In April 2012
the median sold price per square foot for a short sale was $67.13 compared to $70.73 for a lender owned sale.

	Short Sales April 2012	Lender Owned Sales April 2012
Median sold price	$125,000	$125,900
Median square feet	1,862	1,780
Median sold price per square foot	$67.13	$70.73
Total sales	1,614	1,075

Short Sales: April 2011 compared to April 2012

Short Sales	Apr-11	Apr-12
Median sold price	$125,000	$125,000
Median square feet	1,882	1,862
Median sold price per square foot	$66.42	$67.13
Total sales	1,340	1,614

Lender Owned Sales: April 2011 compared to April 2012

Lender Owned Sales	Apr-11	Apr-12
Median sold price	$94,900	$125,900
Median square feet	1,693	1,780
Median sold price per square foot	$56.05	$70.73
Total sales	2,825	1,075

The information in this report is for single family properties in Greater Phoenix. The information was complied from Arizona Regional Multiple Listing Services, Inc. data.

© 2012 Megan Izdebska & Hanna Manoufar
AzPrimeHomes.com / SoldWithMegan.com / www.ScottsdalePrimeHomes.com

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Posted by Megan Izdebska & Hanna Manoufar Chandler, Scottsdale Real Estate Agent on 05/29/2012 10:17 PM

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Real Estate Market Update through April 18th 2012 - Maricopa County, Arizona