Phoenix Market Trend - Active Listing Count September 15, 2012
There is a sea of opportunities here in the Metro Phoenix area, as this Cromford Report indicates.
The market in Metro Phoenix is GREAT for people who want to sell their home! It is GREAT for the buyer, as well... with so much that Metro Phoenix has to offer! However, it is especially GREAT for the seller because the sale of homes here in the Valley of the Sun are on the rise. As we can see in this chart, the Real Estate market in Metro Phoenix is beginning to stabilize.
There are still HUD transactions - that means that there are still people qualifying for the homes of their dreams with special and strict financing. But this type of listing is far and few between. When they pop up you need to move on them quickly.
This chart is also an indicator that the banks are doing their best to get the homes that they have in their possession (REO aka. Bank-owned properties) back out to the public for sale. They know that people need to have a place to call their own, so they are working to give those opportunities to more and more potential homeowners. And the condition of this type of home has improved, for the most part this past few years.
As indicated in this report, the short-sale portion of the Real Estate market is a significant piece of the pie! This is because more and more lenders are working with people who are having difficulty with their current properties. Banks understand that there are different factors that come into play when a person has to give up their homes. The benefits of a short-sale are that typically the homes sell for more than they do in an REO (Bank-owned) transaction, the borrowers are able to work with the lender and not do so much damage to their credit, and (in some cases) there maybe a potential for them to purchase another home.
The BIGGEST portion of this chart is the active listing of the regular sales of properties in the Valley of the Sun! The active listing count for regular sales of homes in Metro Phoenix is a the most significant - meaning that more and more people are getting on their feet and able to deal in the sale of their home without any government or lender intervention. This is probably an indicator of the improvement of the economy, as a whole. With more and more sellers able to go through the regular sales process, more and more people are giving back into the system - which means that the industry is getting stronger and stronger with each transaction.
NOW IS A GREAT TIME TO SELL YOUR HOME - whether you are having a difficult time with your current home and are considering a short-sale, your family growth has made your current residence non-functional, or you are considering selling your property to upgrade for whatever reason - give me a call for your FREE property analysis! I will walk you through the process to make sure that you understand all of your options!
Phoenix Market Trend - Active Listing Count September 15, 2012
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