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Flagstaff Market Report 08/26/12 Forclosures in Surrounding Areas

By Sylvie Stuart

Real Estate Agent with Realty One Group Mountain Desert 928-600-2765

August 28, 2012 09:09 AM

Forclosures in Surrounding areas of Flagstaff - since last week there were 3 new Foreclosures in the Flagstaff surrounding areas. That's shortsale since the previous week. This search is of foreclosures put on the market since last Sunday. It includes single family, town homes, manufactured homes and condos in the city of Flagstaff.

These numbers may seem like they are going down, but Flagstaff hasn't been hit as hard as other areas, so this has been pretty consistent.

In all of Flagstaff and surrounding areas there are 894 active homes for sale, of those 44 are short sales and 53 are foreclosures, these numbers are higher than last week, but still very low compared to "normal" inventory.

Flagstaff is surrounded by National Forest, which insulates our prices some because there is a limit to the supply of homes here, we are also about a 25% second home market, which helps keep our prices higher than the National average. In 2011, almost 61% of homes sold were regular equity sales (non-foreclosure, non-short sale), so most of our sales are regular equity sales.

Address	City	Map	Bd	Bth	SqFt	LotSz	Year		Date	$/SqFt	DOM	Orig Price	List Price
	4381 N Deer Springs	Bellemont		3	2	1411	8276	2003		08/22/12	148.76	4	209,900	209,900
	11632 W Cove Crest Dr	Bellemont		3	3	2061	0.160	2004		08/24/12	111.60	2	230,000	230,000

	Listing Count	2	Averages	1,736		130.18	3	219,950	219,950
		High	230,000	Low	209,900	Median	219,950
	Property Type Count	2	Property Type Avgs	1,736		130.18	3	219,950	219,950

A snapshot of the current market and of the homes that have sold in the last 6 months:

Most of the homes (47%) have been on the market more than 120 days. There is a lot of competition in the market right now. To sell your home in the quickest amount of time, you need to be competative with the other listings. That means, price your home according to the market, put your best foot forward by having your home show as well as it can, and hire a competative real estate agent who will market your home effectively, so you can get the exposure you need.

This information was pulled from the Northern Arizona Multiple Listing Service 08/26/12.

If you are interested in more information on a Flagstaff foreclosures or interested in other good deals available on themarket right now, I'd be honored to be "your first step into your new home".