Surprise, Surprise! Resale home sales have picked up in Buckeye AZ's Sun City Festival this year. Last year there were only five resales for the entire year showing in the Arizona Regional MLS system. This year we had five closings in just the 1st quarter.
Most of these homes are being sold at a considerable financial loss to the sellers. Unfortunately that's what happens if you purchase in a new home community where you are competing against the builder and all their incentives AND you don't have the luxury of sitting on the property for 5 to 7 years.
Add to that the dropping home values in the valley and you have a tough market for sellers in Sun City Festival. BUT it creates an outstanding opportunity for buyers looking for a great deal in Phase I of the community.
I just posted the 2008 resale homes sold in Sun City Festival as well as the Sun City Festival 2009 1st quarter resale home sales.
You will be able to access the Sun City Festival Resale Sales Archive page from the Sun City Festival Resale Homes for Sale page of my website.
I also have pages set up on my website to monitor Sun City Festival Short Sales and Sun City Festival Foreclosures. As of this writing there was only one home listed as a short sale and no foreclosures. There are four homes scheduled to go into foreclosure but it's tough to say when (or if) they will show up in the MLS.
All you can do is monitor them either on my website or via a custom search I can set up. The custom search will put the foreclosure listings in your email box as soon as they come on the market. This gives you an advantage over others that opt not to as many of these foreclosures have multiple offers within hours of hitting the market.
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