Metro Phoenix Home Sales for August 2011 by Jeff Cameron Realtor

Metro Phoenix Home Sales for August 2011 by Jeff Cameron Realtor

Here we are in mid August and the market continues to recover.

I currently have 3 offers out for buyers. They are all in situations where there are multiple offers on the homes. These are Short Sales that are brand new on the market. These buyers have lost several homes to other buyers in multiple offer situation.

Our Short Sales are selling quickly, buyers are hanging in and we are getting quick approvals. Now, Short Sales are protecting the homes and selling for higher prices than Foreclosures. Finally! This is better for the home seller, the bank, the neighborhood and the market.

GOOD NEWS: we sold home as a Traditional sale for one of our home sellers. We were very nervous about the appraisal. Not that the home is not worth it, but due to the rules Appraisers have to follow. I was so excited to get the news the appraisal came in at sales Price! YAY! This is Awesome for the market.

I have been saying for several years, the trick to this markets recover is Short Sale approvals. Now, with Short Sales getting approved in as quick as 15 days and averaging closer to 45 days, a Buyer does not have to get a lower price to wait for the approval. Next, we need to get the word out to the Short Sale Listing Agents across the valley.

Let’s get to the numbers!

SINGLE FAMILY HOMES INVENTORY / PENDING / CLOSED / PPSF (price per SF) As of August 1, 2011

METRO PHOENIX 16,092 / 16,581 / 7,222 / $72.79

BANK OWNED 2,955 / 4,250 / 3,075 / $56.53

SHORT SALE 3,417 / 9,418 / 1,722 / $65.94

TRADITIONAL SALE 9,721 / 2,913 / 2,425 / $98.25

SCOTTSDALE 1,640 / 913 / 414 / $151.58

McDOWELL MOUNTAIN RANCH 49 / 51 / 15 / $165.11

TATUM AND BELL 14 / 32 / 10 / $107.01

Compare to last months numbers:

SINGLE FAMILY HOMES INVENTORY / PENDING / CLOSED / PPSF (price per SF) As of July 1, 2011

METRO PHOENIX 17,113 / 17,038 / 9,014 / $74.53

BANK OWNED 3,310 / 4,733 / 3,672 / $57.17

SHORT SALE 3,879 / 9,034 / 2,494 / $67.34

TRADITIONAL SALE 9,922 / 3,274 / 2,850 / $103.20

SCOTTSDALE 1,733 / 953 / 563 / $156.12

McDOWELL MOUNTAIN RANCH 56 / 47 / 31 / $171.47

TATUM AND BELL 17 / 32 / 11 / $100.35

Please call me with questions. If you are thinking of buying a home or an investment home, NOW IS THE TIME!

If you are stuggling and way upside down on your mortgage, Call or Email me. 480-502-7699 or Jeff@TheCameronTeam.com

We can help you find the options, decide what is best for you and if that is Short Sale, we can assist you. Many people are exhausting everything before going to Short Sale. For many, Short Sale helps get their financial life started over.

Metro Phoenix Home Sales for August 2011 by Jeff Cameron Realtor

Metro Phoenix Home Sales for August 2011 by Jeff Cameron Realtor

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Jeff Cameron

Jeff: 480-652-2004