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Flagstaff Market Report 10/29/12 Short Sales in the Surrounding Areas

By Sylvie Stuart

Real Estate Agent with Realty One Group Mountain Desert 928-600-2765

November 01, 2012 04:07 AM

Flagstaff Forclosures in Town - since last week there were 2 new short sales in the surrounding areas. This search is of forclosures put on the market since last Sunday. It includes single family, town homes, manufactured homes and condos in the surrounding area of Flagstaff.

These numbers may seem like they are going down, but Flagstaff hasn't been hit as hard as other areas, so this has been pretty consistent. In all of Flagstaff and surrounding areas there are 752 active homes for sale, of those 35 are short sales and 62 are foreclosures, these numbers are higher than last week, but still very low compared to "normal" inventory.

Flagstaff is surrounded by National Forest, which insulates our prices some because there is a limit to the supply of homes here, we are also about a 25% second home market, which helps keep our prices higher than the National average. In 2011, almost 61% of homes sold were regular equity sales (non-foreclosure, non-short sale), so most of our sales are regular equity sales.

Active
	Address	City	Map	Bd	Bth	SqFt	LotSz	Year		Date	$/SqFt	DOM	Orig Price	List Price
	6975 N Bader Rd	Flagstaff		4	3	2083	2.000	ac	1996			10/27/12	132.02	1	275,000	275,000
	17770 Longbow Rd	Munds Par		4	3	2204	12804	sf	1998			10/21/12	147.46	7	325,000	325,000

	Listing Count	2	Averages	2,144		139.74	4	300,000	300,000
		High	325,000	Low	275,000	Median	300,000
	Property Type Count	2	Property Type Avgs	2,144		139.74	4	300,000	300,000

A snapshot of the current market and of the homes that have sold in the last 6 months:

Most of the homes (47%) have been on the market more than 120 days. There is a lot of competition in the market right now. To sell your home in the quickest amount of time, you need to be competitive with the other listings. That means, price your home according to the market, put your best foot forward by having your home show as well as it can, and hire a competitive real estate agent who will market your home effectively, so you can get the exposure you need.

This information was pulled from the Northern Arizona Multiple Listing Service 10/29/12.

If you are interested in more information on a Flagstaff foreclosures or interested in other good deals available on themarket right now, I'd be honored to be "your first step into your new home".