transcription of video:
Wow, that wasn’t good but I’m a Marketer, and i got so much positive response from you all from my couple of other guitar videos that I would do it again.
It’s Jeff Cameron here with MRW Homes and bringing you the Real Estate Market Report for Metro Phoenix area for the month of August and it’s here in the first week of September. So let’s get to the numbers real quick. And I’m not gonna bore you with specifics as much as saying. Inventory levels are down another 5%, 50% year to date, and they’re down of nearly 70% from the worst part of the market.
Pending home sales are up 1%, closed home sales were up 1%, but there are four months this year that were actually better than last month and that’s too little, a lack of inventory. Sold homes last month climbed by 10% from July, but we also had an increase in the listings by 10% and what that’s telling us is a good home comes on the market is just being gobbled up like that by buyers.
If you’re a buyer and you’re out there, I know my buyers are suffering through it, either they can’t find anything they like because they’re trashed or destroyed or just nothing on the market, or when something comes up, there are multiple offers. The Real Estate Market, it’s kind of crazy. Whenever a hard time going up, yet there is bidding worst all over the place. So what’s going on with sellers? Well, if you list the home at the proper price, you market properly; those homes are selling right away. If you were someone you know, is not getting their homes sold, there are only three reasons that homes don’t sell. Call me, we’ll go over it and hopefully help you with getting your homes sold.
I wanna talk a little bit about the larger market of the whole United States. These are the numbers that we are going over and this part why the market is continuing kind of in without going up. We’re having this problem with the stock market of Europe. Really, there’s a ton of money in corporate America’s hand, they’re just afraid to spend it, so we’re not putting people to work.
The reason they’re afraid to spend it is there is 10 million homeowners out there that are expected to foreclose in the near future. Of that, 7 million of them would be better served by Short Sale, and the projections are about 5 million of those will go to foreclosure because they did not meet with the real estate professional and get the right advice in order to do what works out better for them financially towards the future. I know a lot of people, they don’t like Short Sale, and they feel that people are walking away from their obligations. The reality is, Short Sale is better than foreclosure. Banks have realized their studies show that they’re netting 30% more from a short sale than they would from a foreclosure. And that’s why from a year ago, they were a nightmare to today, we’re getting short sales approved in as low as two weeks, but more on average of 30-45 days. And what that’s doing is it’s keeping the buyer in the transaction willing to wait because it’s no longer taking 6 or 9 months for a no and almost all of them are yeses now.
Anyway, if you are a person out there that needs help or a little guidance, are you one of those 7 million or one of the 5 million? Give me a call, I’d be happy to give you a free consultation, help you get the right advice. You make the right decision.
My name is Jeff Cameron with the MRW Homes. 480-502-7699. Make it a great day!
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