Scottsdale home listing prices are on the rise in the central areas of the city that include McCormick Ranch, Gainey Ranch, and Scottsdale Ranch. Seems kind of exciting, at first glance. Looking above at the 90-day rolling average, it’s interesting to see that median price for homes listings is now approaching $188/square foot, which [...]
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scottsdale foreclosures
Many buyers start off their housing hunting looking to buy a foreclosure in Scottsdale. Getting information from the media or friends, they think that there are a lot of foreclosures for sale in Scottsdale, and that they are going to get a great deal going that route. However, there are a couple challenges with foreclosures [...]
Last summer, pre-foreclosures and lender-owned properties made up 25% of the active listings in the MLS. However, about 45% of the actual sales were distressed properties. Average price per square for a normal home sale was just over $200 per square foot, $150/sf for a pre-foreclosure, and closer to $140/sf for lender owned properties. Looking [...]
I’ve been taking quite a few real estate classes over the past several months as I complete my requirements for the Arizona MRE (Master of Real Estate) Society. Earlier this week, I attended a class entitled, "Listing Property in Today’s Market". The instructor made a comment that there wasn’t much to comment on regarding the [...]
I haven’t done a market report on Scottsdale 85258, home to the “Ranches”…. McCormick, Gainey, and Scottsdale. In January, I posted this same chart in the post: McCormick Ranch Real Estate – Least Distressed Area of Scottsdale. A few changes have occurred in past ten months, while some metrics stayed the same. What you will [...]
The following two charts show a few of the the changes in the Scottsdale real estate market over the past three months, in particular related to short sales and foreclosures. I’ve put small version of of the charts next to each other here, and then larger views, down below, so you can actually read them. [...]
Mike Orr at the Cromford Report just reported the following update for Phoenix area real estate: Good news for sellers in pre-foreclosure or short sale situations. Their chances of a successful listing have improved from less than 20% in February to over 45% as of July 5. In fact for the first time in history, the success [...]
