Foothills neighborhood at Tatum and Bell in Phoenix – Home Sales Report for September 2010
Inventory up to 34 Homes for sale from 27 or a 26% increase.
Pending homes sales increased to 23 from 20, a 15% increase.
Closing dropped to 5 last month from 11 the prior month, that was a Huge decrease.
The average price per square foot dropped to $94.79 a decrease of 14.8% from the previous month. However, that could be due to the low amount of sales and product mix of sales.
Those are the numbers. But what is happening in in your neighborhood? Honestly prices are all over the board. Short Sales are dominating, which is disappointing because they run prices down. Fundamentally, if I could sell you a book today and you get it today, you most likely would pay more than if I sold you a book today and said you might get it in 3 to 9 months. Oh, and BTW with houses you have all time low interest rates. They really can’t go much lower and have no where but up to go. Think about it. A buyer can get 4.3% today. If rates went up to 5%. Only 5%. That would be a 16% increase on the interest the buyer is paying. That is HUGE and that is why Short Sales are sold below market value.
To see a GOOD Short Sale Approval Letter go to this link!
Are you a buyer looking to purchase a Short Sale Home at a Great Price? If so, you want to be aware of the fact that some listing agents continue to search out other buyers, keep the home on the market for sale, have other offers and when they get a response from the bank they go back to ALL the buyers looking for highest and best. When you buy a Short Sale, you want an agent that knows the ins and outs. What to look for to secure as the only buyer for that home, The Cameron Team and our buyer specialists are experts in Short Sales and Bank Owned Foreclosure homes. We know the tricks and are your best choice. Call 480-502-7699 or email Jeff@TheCameronTeam.com
Are you a Seller Looking to sell your home in a Short Sale? Before you act, know your options. We have videos that walk you through the process in the privacy of your own home at what every time you wish to watch as many times as possible!
the links below will take you there:
Before Foreclosure and Short Sale: What are my Options?
Before Foreclosure and Short Sale: Save my Home!
Before Foreclosure and Short Sale:
Before Foreclosure and Short Sale: Save my Credit Through Short Sale
Before Foreclosure and Short Sale: Last Step – How to Clean up My Credit!
Or for a Free 1 hour consultation and a referral to an Attorney for 5-10 minute Free consultation call me at 480-502-7699 or click here to contact me!
480-652-2004