Distressed Properties...A Quick Note:

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

480-214-4500