Archive for the 'Phoenix Real Estate Market Statistics' Category
What does a Bank Foreclosure look like in Phoenix?
March 27th, 2008 categories: Phoenix Real Estate Market Statistics
Well my answer may surprise you. Most probably look like this-
When I think of a foreclosure I think of the Mom and the Dad and their 2 beautiful children that have, for what ever the circumtances had to move from perhaps their dream home.
Mom and Dad have to explain why they have to leave their neighborhood freinds and activities.
I have recently helped those families-they have tried to work it out with the banks, refinance, make arrangements or modify their loans in an effort to keep their homes-to no avail. So now I help them find rentals as they pick up the pieces and start over.
So I hope the banks enjoy their homes overgrown with weeds, green pools and memories of the families they forced to walk away from their dreams.
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Phoenix Real Estate-The Good, The Bad and The Ugly
March 25th, 2008 categories: Phoenix Real Estate Market Statistics, Real Estate News
Local and National media reported today that home sales are up, however prices are dropping.
The Good: From ARMLS Data in Jan. there were 2602 homes that SOLD. In Feb 3339 homes SOLD and increase of 22%.
The Bad: (Depending on your perspective) prices continue to drop: Average Sales Price in Jan: $317,334
Average Sales Price in Feb: $308,137
A decrease of 2.8%
The UGLY: Again depends on your position in the Phoenix Real Estate Market: Current Inventory of homes for sale: 56608 with 4810 REO (Bank Owned) Homes.
Here is a chart for 2008 that illustrates the current trend.
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