short sales: Scottsdale real estate - Market update August '08
- 09/24/08 01:01 PM
The dog days of summer are behind us and the Scottsdale real estate market is still struggling to keep up with the rest of the value. My assessment of this situation is that most homes in Scottsdale do not fit within the conforming loan limits. Therefore people are having difficulties securing loans for homes in this price range. Most homes in Scottsdale are not prime investment properties (negative cash flow on most) so the investors have not yet made their way to Scottsdale like they have in other areas of the valley. Here are August's numbers for the week ending 8/31/08: Active Listings: 5,608 Homes Pending: … (0 comments)
short sales: Phoenix real estate - Market update August '08
- 09/23/08 02:44 PM
The dog days of summer are behind us and the Phoenix real estate market is really picking up. Here are August's numbers for the week ending 8/31/08: Active Listings: 13,570 Homes Pending: 1,911 Homes sold in last 30 days: 1,300 (down 5% from July '08, up 32% from August '07) Burn rate (Inventory on market/by homes sold last 30 days) = 10 months supply Avg. Sale price (Solds): $207,572 (Down 5% from July '08, Down 33% from August '07) Avg. price per sq. ft. (Solds): $119.19 (Down $7 per Sq. Ft. from June '08, Down 32% from August '07) Avg. Days on Market (Solds): 112 (Same as July '08, Up 14 days, 14% from July '07) To learn more … (0 comments)
short sales: Anthem AZ real estate - Market update August '08
- 09/22/08 12:57 PM
Sorry I got this one out so late. But better late than never. It's also a testament to how busy we've been. The market continues to remain hot in Anthem. According to the lastest statistics we are very near what is deemed a balanced market, 5 months supply of homes, approximately 90 days on market to sell homes. Prices are not yet increasing, but the rate of price decline has backed off considerably. Here are the lastest stats for the week ending 8/31/08: Active Listings: 403 Homes Pending: 98 Homes sold in last 30 days: 78 (Down 4% from July '08, up 214% over August '07) Burn rate (Inventory on … (0 comments)
short sales: Advice to short sale listing agents...
- 06/27/08 11:21 AM
My business partner and I now having much experience from both the listing and purchase side of short sales wish to dispense some advice to our fellow short sale listing agents. OFFER AT LEAST A FULL 3% BUYER BROKER COMMISSION! Now, we know that sometimes the lender cuts the commission to 5%. Well, we at Windermere NEVER cut the buyer's broker commission. We feel it is doing a disservice to our client, even if in essence the bank is now the client. And you're doing yourself a disservice too because you're limiting the number of agents that will show the property. … (4 comments)
short sales: Customer Service in the Banking Industry and how it affects the Real Estate Market
- 03/27/08 03:38 AM
Now that short sales have become this year's black I'm sure that eveyone has experienced the joyful process of dealing with the loss mitigation departments of the various lenders. Which leads me to the title of my blog. And customer service. Or the lack thereof in the lending/bankiing industry. Since the advent of ATM's, voice automated phone services, and online banking, the concept of customer service in our banking industry has become an oxymoron. Ever try getting a hold of someone at your local branch, where YOUR money is deposited. Good luck getting through the maze of the automated voice system. Anyway, I … (3 comments)
short sales: Beware of so called "Short Sale Specialists"
- 03/15/08 01:48 AM
In every market, good or bad, you get the scam artists and scheisters coming out of the woodwork. And in this day of the short sale all of a sudden everyone is a short specialist. Well my business partner and I can tell you first hand, all that glitters is not gold. A "short sale specialist" (who shall remain nameless. He is a lawyer, and somehow I have a feeling that he would sue for defamation and slander if his name was mentioned here) somehow weaseled his way into the good graces of our corporate leadership promising effective and expedient short sale processing. … (4 comments)
short sales: Short sale listing success...
- 02/14/08 01:53 AM
As short sales have become more and more popular the question is, how do I get a short sale listing sold? And will the bank accept and offer at the listed price? In our experience we have found that a lot of listing agents do not understand where to correctly price a short sale listing. They often price it so low as to be fishing for buyers, when in reality the lender will never accept an offer at the list price. There are basically two components to the pricing strategy of short sales. The first, of course, is the comparative market analysis. As … (3 comments)
The dog days of summer are behind us and the Scottsdale real estate market is still struggling to keep up with the rest of the value. My assessment of this situation is that most homes in Scottsdale do not fit within the conforming loan limits. Therefore people are having difficulties securing loans for homes in this price range. Most homes in Scottsdale are not prime investment properties (negative cash flow on most) so the investors have not yet made their way to Scottsdale like they have in other areas of the valley.
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