A little research on Tucson Sold homes

Real Estate Broker/Owner with RE/MAX DWELL

I was looking at November solds in TARMLS, and even though November is not over until tomorrow, it Sunday, I think we will be okay. There may be a couple that got closed in the last couple days and were not entered, so this is not an exact count.

I did go through the Short sale and  REO solds to try to make suret that they were indeed short sales or foreclosures. There is nothing on TV on Saturday nights, and I was bored. I included Central, East, West,  North, Northwest, Northeast, South, Southwest, and Southeast (no extended areas), plus only did the searches for Residential, not residential income or commercial. I found 514 solds in November, of those 109 were foreclosures, and 32 were short sales.  That shows that 27% of the solds were short sales or foreclosures. Some properties are selling, and not even a third of the solds are foreclosures, so there is hope for those that need to sell.

The bad news is that with the same search criteria we have 6,946 active listings in MLS, and those are just actives, not active contigent or active capa of which there are 820 as of today, and 304 pendings.

I have been getting more calls in the last week, but most of my calls are for foreclosures that were priced so well that they are already under contract, and there aren't any other deals as good as those unless I start seriously lowballing some agents. I do tell these callers that I can search out other good deals for them and I am in plans to meet with several so we will see.  Most of them are first time homebuyers which I love, because they get soo excited!

Comments (1)

Kent Simpson
Realty One Group Mountain Desert - Tucson, AZ
Real Estate Is About People

Check out the "Days On Market" for foreclosures in the $80k to $140k price range...then look at the photos.  I'll bet you will be amazed at the trend over the past few months!

Dec 28, 2008 03:05 PM