Tuesday, June 23, 2009
Valley Wide- 32,852 12,311 or 37% 4,564 or 37%
Scottsdale- 4,606 955 or 21% 270 or 29%
Paradise Valley- 562 61 or 11% 12 or 20%
We are seeing a dwindling of inventory, and a varying way of how the Lenders/Servicers and Banks are now distributing the property. The reality is, even if 25,000 REO homes below 250K came on the market next week, we would have that inventory absorbed in the next 90 days. We are seeing multiple offers on every decently priced REO property and we are seeing buyers become frustrated, as they are willing, have cash offers and made offers above or at asking price and still can’t get a home. What we need is transparency, this issue CANNOT be solved by Banks or Government working in isolation, but rather Banks and Government in partnership with the community and citizens to make sure we can indeed solve the issues of the increasing delinquencies.
Steve de Laveaga
SVP Sales and Marketing FNT Maricopa
Office Ph. 480-214-4500
Thursday, June 18, 2009
Inventory still at an all time low – multiple offers on properties which our raising values creating neighborhood stabilization.
Read in good health!
Noted Melissa Shapiro, VP of Sales with Fidelity National Title, email@example.com
Phoenix-area Home Prices Have “Reached a Turning Point”ASU Study:
TEMPE, Ariz. (June 15, 2009) — Phoenix-area homeowners can take some comfort from a new Arizona State University study that indicates the Valley housing market is finally starting to turn around.
Source:W. P. CAREY SCHOOL OF BUSINESSThe W. P. Carey School of Business at Arizona State University is one of the top-ranked and largest business schools in the United States. The school is internationally regarded for its research productivity and its distinguished faculty members, including a Nobel Prize winner. Students come from 75 countries and include more than 60 National Merit Scholars. For more information please visit wpcarey.asu.edu andhttp://knowledge.wpcarey.asu.edu/
Monday, June 8, 2009
As you can see, we continue to have over 70% of the properties that close in Distress, the interesting thing about this months numbers is that Short Sales have seen a huge increase, in closings, which means the banks are getting closer to understanding this problem needs to be solved upstream.
I am certain you will see the short sale closings increase, as well as the Homes being sold at the Courthouse steps through Drop Bid, as again, solving this problem upstream will help keep prices, either stable or increasing slightly, as it will limit the large amount of Inventory flooding the market.
· Sold – 9,313
· Short Sale – 1,055
· REO – 5,828
· Around 70% of all properties in the MLS from May 2009 were distressed properties.
Note Provided By:
Steve de Laveaga, VP of Sales and Marketing
Fidelity National Title, Maricopa and Pinal Counties
60 E. Rio Salado Parkway, 11th Floor
Tempe, AZ 85281