The REO (real estate owned) foreclosed home market is hot right now in the Prescott area with many homes priced under an already depressed market price. When banks price REOs under the market price, multiple offers are often the response. This means buyers can be up against stiff competition for that bank-owned home.
The home,opened in February 1911, is a retirement home that overlooks downtown Prescott. The home is one of Prescott’s prominent landmarks and dominates the view to the west from downtown.
Arizona Pioneers' Home
Many people think that Realtors are around for a few simple reasons, to look for homes, list homes and advertise homes. This is why many people don’t think that they need a Realtor. Homeowners are quickly finding out that a home can be listed without a Realtor. A buyer can find a home on several [...]
Prescott Area Market Report
36 new foreclosed or short sale homes came on the market during the week of February 20 – February 26. These made up just under 1/2 of the homes listed in the Prescott Arizona Area MLS system last week at 45%.
There were 44 traditional listings that came on the [...]
A total of 248,534 properties in default, scheduled for auction, or repossessed by the bank sold to third parties during the April to June timeframe. RealtyTrac says on average, these homes went for a discount of 26 percent.
The second-quarter share of foreclosure sales is up nearly 5 percent from the previous quarter, [...]
RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for Q1 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 properties in the first quarter, a 7 percent increase from the previous quarter and a 16 percent increase [...]
From DS News: Obama Proposes Bank Bailout Tax to Recoup $90 Billion >http://bit.ly/7RvKRQ #
From DS News Home Loan Payment Trends Continue to Deteriorate: Equifax > Prescott Foreclosures Affected > http://bit.ly/81a8hJ # Moody's Sees Price Declines on Commercial Properties Moderating > Prescott Commercial Values Still Declining > http://bit.ly/78G2BM #
Residential Prices Still Falling, Now at July 2006 levels, Integrted Asset Services Reports, Tax Credits Not Enough > http://bit.ly/5vdmGn #
From the AZ Republic: Owners see success with mortgage modifications > http://bit.ly/7wRjbq # Good News For Prescott AZ Real Estate: Treasury Releases Guidance for Making Home Affordable Short Sales > http://bit.ly/4ScSDI # From DS News: Short Sale Reforms Receive Mixed Reviews > Will this help homeowners in Prescott and Prescott Valley? > http://bit.ly/7k4rOW # [...]