Phoenix Arizona Foreclosure Shadow Inventory

By
Real Estate Agent with Sonoran Fine Properties

CAN YOU HEAR ME NOW?????

When you become a real estate agent, you have to have a thick skin because you suddenly become labeled a liar. Why is it that most professions where there is a commission attached are thought of as sleazy liars? Why aren’t servers in restaurants questioned about their ethics? They get tips don’t they? Oh wait, we do hesitate to send food back on second thought…

 

So we have been telling our clients for a long time now that the market in Phoenix is definitely not the sluggish, declining, low ball offer or buy properties at ridiculously low prices everywhere market. Yes there are some areas of town where you can buy a $15,000 house. Check it out at Sonoran Fine Properties and let me know when you want to write it up! I will be glad to write it up for you, sight/unseen at least by me because I am not going to show it without a police escort.

 

So perhaps preaching about the lack of inventory, multiple offers, full price offers and rising prices is finally paying off as we are getting USA Today press about our “shadow inventory” finally exposing the lack thereof!! Thank God!

 

For the thousands of buyers out there who really want or need to buy a home at these ridiculous low prices and let’s face it, unheard of interest rates….you finally have “third party credible testimony” that we are not liars. Get ‘em now while they are hot because there ain’t gonna be any left on Christmas morning!

 The question is; can you hear me now? Now that USA Today is reporting that Arizona is the number one state with lack of foreclosure backlog, the lack of the “so called” shadow inventory….are you listening?

 

You can hear me now or you can talk about it for years to come about how you could’ve, should’ve but didn’t.

 

So let me remind you of a few relatively well know beliefs about Arizona:

 

We typically do not have tornadoes. We have dust devils that might pick up a plastic raft out of your pool and throw in across the yard but we don’t have tornadoes. You might lose a tree or have your garbage tipped over but you usually won’t see much more than that (knock on wood cuz I am not stupid)

 

We typically do have hot weather in the summer but let me remind you that in the dead of winter in the Midwest are you outdoors engaging in activities that don’t require a jacket, boots, gloves, scarves, etc.? Probably not. You are going from your heated house to your heated car and into your heated office at work, right? Well same for us in the summer. We go from our air conditioned house to our air conditioned car to our air conditioned offices, stores, restaurants. But if you do want to golf, run or go for a walk in the heat knock yourself out because people do it here. They like to break a sweat, why I do not know.

 

We typically do not have earthquakes here either. We might feel the initial shock (barely) of a very large quake in the Palm Springs area or Mexico but barely feeling that and not feeling any of the aftershocks is far better than experiencing the whole nine yards of a 6.5 California quake and trust me I know as I lived through two of them, the Sylmar quake in 1971 and Northridge in 1994. Why do you think I live in Arizona now? I moved here February 27, 1994 right after the Northridge quake.

 

We typically do not have hurricanes either. This is actually a little hypocritical for me to say because these past few months when it was a little warm and too sunny, I kept watching the weather wishing some of the Pacific hurricanes would make it up the coast and break into Arizona’s weather pattern. Unfortunately we had a pretty strong ridge of high pressure and didn’t see anything from them.

 

 

 

We also don’t typically experience snow or blizzards. I do have evidence of snow in Cave Creek once. A great photo opp!

Cave Creek Snow

Peoria Snow

 

This photo is from Peoria Illinois inserted simply for contrast.

 

But I live in Cave Creek Arizona which is north of the metropolitan Phoenix area by about 10 miles and its cooler up here by about 5-10 degrees so when the snow level drops we get out our cameras. Not snow chains or winter coats, cameras! Although I did lose two baby fruit trees last year, that really ticked me off. They are coming back nicely now though and I am already stressed out about this “winter”. I guess I can always go to the store and buy oranges and lemons but I hope Florida and California don’t freeze because then we are really screwed!

 

One last thing and then I will quit, we also don’t typically have floods. Not the kind of floods that California or the Midwest has with heavy rains. When you see towns flooded or a whole hillside falling away that is downright scary and life threatening. Yes we have flash floods but that’s why we imitated the “stupid motorist” law because some people thought they could navigate flowing waters because they just had to get somewhere and couldn’t wait. But then I see that every single day when someone goes flying by me on the freeway or passes me on my neighborhood street so they can screech to a halt at the same red light that I have to stop at right behind them. Doesn’t that just make you laugh at how stupid they are? We have flash flood warnings and watches just like other states have tornado watches and warnings but not everyone watches TV or knows they are in effect.

 

I guess what I am really trying to communicate is this: We have the perfect storm brewing here in the Phoenix area right now. Consider this your warning! Buy now; get in now before it’s too late.

 

Blog by: Candice

 

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