The Market has Changed, Again!

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

The Market has Changed, Again! 

During the last two weeks, and especially the last week, it's become apparent that the investors have really ramped up their spending.  The showings I'm scheduling are for "newer" townhomes and condos in Scottsdale and North Phoenix.  It's amazing that all of sudden, more multiple offers are being submitted and quickly.  

Last year, our cash sales in Maricopa County were 47% of the total sold properties.  And because of our foreclosure experiences, most anyone coming here is expecting a bargain price.  Low prices, yes; low rates, yes; but inventory - not so much.  We're seeing record lows in inventory.  

For a city with a population of 3.8 million, the 4th Largest County in the US, and over 400 square miles, we have 14,529 single family homes for sale!! And if I include every type of property from manufactured housing to townhomes and condos, the grand total is 18,542!  That's as of this very second.  

So if you are an investor coming to Arizona to purchase a "fantastic property," put your track shoes on, because I work fast! 

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HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

(602) 620-2699   DIRECT

www.AZGreenRealty.com

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Topic:
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Location:
Arizona Maricopa County Phoenix
Groups:
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Addicted to Active Rain
Realestateandfunding
Legal Aspects of Short Sales, Foreclosures, Loan Mods
Investment Property (USA)
Tags:
foreclosures
phoenix homes for sale
investor properties
cash sales in phoenix

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Rainmaker
4,082,582
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jan. sounds like if you are an investor, NOW is the time before prices start increasing.    I will have to keep my ears open for investors wanting to purchase in Maricopa County, and send them your way!

Jan 15, 2012 10:54 AM #1
Rainer
125,379
Laurie Clark CRB Angel Realty LLC Your Monument Realtor 719-502-6572
CRB-CCSS-ASD-HBS-RSD-Denver Short Sale Agents - Monument, CO
Angel Realty, LLC

Congrats! What excellent news, So glad to hear Phoenix's real estate market is improving so dramatically. Thanks for sharing and have an excellent ( and busy) week.

Jan 15, 2012 03:04 PM #2
Rainmaker
590,581
JM Padron, CCIM, MRICS
INTERNATIONAL COMMERCIAL ASSOCIATES - San Diego, CA
CCIM, MRICS, Serving Mexico-USA Border

Jan,

We are experiencing a similar situation in Weston, FL, very low inventory. I hope Banks start realizing the REO'S soon to have inventory to offer to our investors.

Jan 15, 2012 10:26 PM #3
Rainmaker
978,722
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Joan:  Thanks for commenting.  Yes, let me know.  I specialize in that arena and like you, I understand foreclosures!  Best of luck!

Laurie - Yes, the news is telling everyone that our market is improving, but we've seen it on the horizon for the last year.  Have a great week!

JM - It would be nice if banks released more inventory.  I've heard that we don't have that much here.  Time will tell!   

Jan 16, 2012 02:51 AM #4
Rainmaker
1,402,493
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

We have very very low invenory here as well. I ran a search for aal homes, town homes, codos for sake in Dublin CA Friday and there were only 84 listings.

Jan 16, 2012 02:57 AM #5
Rainmaker
978,722
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Vickie - Wow!  Low, low inventory.  I've been seeing more comments like yours, too.  Have a great week!

Jan 16, 2012 03:23 AM #6
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Rainmaker
978,722

Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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