Prescott Area Foreclosure and Short Sale Activity As of 06-27-09

Real Estate Agent with Flex Realty

Foreclosure activity booming this week

Thirty nine foreclosed or short sale homes came on the market last week, way up from last week's 18.  They made up about one in every 3 homes being listed in the Prescott Arizona Area MLS system.  This is a marked increase and a one week high for distressed listings in the Prescott area.  Could some of the phantom inventory being coming on the market?

See this post:  Banks to unleash a phantom inventory of foreclosures say some

There were also 87 traditional listings that came on the market last week at an average of $177 per square foot.  Compare that to the $104 per square foot average for the homes below.  Which ones do you think will sell faster?

Short Sales:  9/39 are short sale listings (see yellow highlight).   Short sales are becoming easier to deal with with some banks.  I actually got through to a Citibank loan rep on 1 ring yesterday dealing with a short sale and they were very friendly too!  If this is indeed a trend it could mean some better news for sellers and buyers alike who have been suffering from pathetic service from banks servicing short sales.

Thinking about a short sale?  Read these tips to make it go as quickly as possible:

 How to help speed up a short sale tips  

Foreclosure/REO/bank-owned or short sale?

To get more information about any of these listings or any others in Prescott, Prescott Valley,
 Chino Valley or Dewey-Humboldt areas, feel free to contact me, or you can search by MLS
number, address, or lots of other ways in our Search the Prescott MLS section.  

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Featured Listing: SHORT SALE

9301 E Cholla Lane



Posted by

Patrick Schutte

Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Hi there. I agree that short sales (in most cases) are getting easier to close. Some of the banks, I've observed, are also getting a little bit more serious about foreclosing.

Jul 03, 2009 05:59 AM