Today’s Cromford Report on Lender Owned Properties shows a changing scene. Basically, bank-owned properties are selling at a very high rate, and new REO properties are not coming to market fast enough to meet demand. Prices have dropped pretty dramatically over the past two years. Maybe with this decreased inventory (listings), we will begin to [...]
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foreclosures
Michael Orr, creator of the Cromford Report, was featured on the front page of the Arizona Republic yesterday. I’ve been an avid fan of Mike’s statistical reports and use his data often. Today, I asked if I could post his preliminary March report in full, and he gave his permission. As you will see, it’s chock [...]
I get a tremendous number of phone calls from buyer’s agents every day, all with the same two questions, over and over. “Is this property still available?” How many offers?” And the statistics say that we are in a seller’s market, at least when it comes to lender owned properties in Phoenix. We’ve dropped from a 4.7 [...]
I’ve been talking to lots of people lately. Meeting new folks, who are not necessarily in real estate and get their information from the news, mostly. And, once they find out I’m in real estate, they offer condolences and then start pumping me for information. People do love real estate, and they do love a [...]
Last week I was contacted by a bank to prep and list their foreclosed properties. It’s been quite a rush of activity to put our team together, and get all work done that is necessary. For now, it appears that most of the homes I will be listing and selling are located outside of Scottsdale. [...]
credit: Dru Bloomfield – At Home in Scottsdale and Altos Research In looking through the Altos Research charts for Scottsdale real estate today, you can see we have headed into another downturn in the market over the last several weeks. The Altos Market Action Index shows slowing in all Scottsdale markets, across all zip codes. My suspicion is [...]
Image by respres via Flickr Everyone can take a breath. Locally, Aimee Ghimire just reported this news which will hopefully take some of the pressure off home owners, in specific situations, who are behind on their mortgage payments. Take a look at the full article, Foreclosures suspends all foreclosures, for more details on who may benefit from this reprieve. A [...]
