Archive for July, 2008
Listing Agents PLEASE
July 6th, 2008 categories: Real Estate News, Selling a Home
I went today to show a past client some rentals, as they have been a victim of lenders not responding to short sale offers. Their home, with a very fair offer, has not recieved a response on the short sale offer they received, and now they are looking for a home to rent.
They were interested in 3 rentals in Tempe. So I met them at the first rental, new to the market- to our dismay- no lockbox-why?. So we went to the next possibilty, on a “non MLS” lockbox that is jammed and we could not get the key to view the home. As a reminder, it is Sunday and 110 degrees outside- thanks listing agents.
We were able to view the third home, nothing special, and of course no pictures on MLS. We certainly learned why after viewing the home.
Is there not a fiduciary duty when you list a home, for sale or for rent!! Should prospective tenants or buyers be able to view the homes. Do your clients really want to sell or rent the homes? From my experince today- I guess not.
Sorry for the rant- Just very frustrated.
| Discussion: 4 Comments »
Housing Crisis??
July 3rd, 2008 categories: Real Estate News
We are bombarded with negative news about the housing/mortgage crisis- the media makes it sound like we are all doomed- this video, looks at the “big” picture and paints a very different picture. Check out this video
| Discussion: 2 Comments »
Phoenix Real Estate-June 2008 Market Statistics
July 2nd, 2008 categories: Market Statistics
These Phoenix Real Estate Market Statistics are for single family homes. Currently there are 10547 Phoenix homes for sale. Inventory is up slightly- compared to May 2008 where there were 10479 active listings at the time the post was written.
The number of sold homes and pending sales remain flat. The current absorption rate of Phoenix homes for sale is about 10.7 months.
For the month of June there were:
- New Listings: 2821
- Pending Sales: 1251
- Sold Homes: 983
Listing Status Phoenix Real Esate June 2008
The average sales price of Phoenix homes continued in a negative direction, which was not unexpected with the number of Phoenix foreclosures. The average sales price fell 9.2% from May 2008.
Phoenix Real Estate- List Price vs Sold Price June 2008
The list price/sale price for the month of June was 4.42%, which means that, on average, homes for sale in Phoenix sold for 4.42 % under the asking price.
For more information on the Phoenix Market Conditions visit ASU Realty Studies
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