Prescott area REO and short sale homes sold 10-1-09 thru 10-31-09
By Patrick Schutte, Certified Foreclosure Specialist, on November 1st, 2009 
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Print This Post Sales volume in the distressed home market in the Prescott AZ area is up with 117 homes closing in October. This compares to 136 homes sold by traditional resales during the same period. This is 46% of all sales!
The average price per square foot for REO and short sales was $98 and the average time to sell was 119 days compared to $134 per square foot and 186 days on market for traditional resales. Traditional home sellers are continuing the trend of reducing their prices to sell against the foreclosures and short sales. In fact, you can see that with over 45% of the sales being REOS and short sales that these comps cannot be ignored.
Short sales about 18% of sales: Of the 117 homes sold, 22 were short sales (highlighted in yellow). Short sales are becoming more mainstream as banks and buyers and especially REALTORS figure them out. So many agents are doing the whole industry a disservice by avoiding these transactions.
34% of the homes sold at or more than asking price (see green highlight). This continues to be amazing in a “weak market.” Also note that most of the ones that sold quickly (list is sorted by Cumulative Days on Market (CDOM) received full price offers.
Some of the buyers I am working with right now are trying to get 20% off of the bank’s price. You can see how futile this exercise is when the average is only about 5% off.
| Single Family REO-Foreclosed-Short Sales Closed 10/1/09 – 10/31/09 | |||||||
| Address | City | List Price | Sale Price | SP/LP | SQFT | $/SQFT | CDOM |
| 901 Yuma Dr | Chino Valley | $90,000 | $96,000 | 106.7% | 1,408 | $68 | 18 |
| 7445 Weaver Way | Prescott Valley | $256,500 | $256,500 | 100.0% | 3,654 | $70 | 18 |
| 5938 Milano Court | Prescott Valley | $128,900 | $130,900 | 101.6% | 1,223 | $107 | 23 |
| 358 Vargas St | Dewey -Humboldt | $140,000 | $140,000 | 100.0% | 1,888 | $74 | 24 |
| 14140 Holly Road | Mayer | $19,900 | $23,000 | 115.6% | 1,088 | $21 | 25 |
| 8076 Yavapai Street | Prescott Valley | $74,500 | $75,500 | 101.3% | 1,315 | $57 | 26 |
| 737 Ruth Street | Prescott | $55,500 | $59,100 | 106.5% | 1,160 | $51 | 28 |
| 575 Porcupine Pass | Chino Valley | $54,900 | $46,634 | 84.9% | 1,440 | $32 | 29 |
| 7935 Hunters Hideaw | Prescott Valley | $282,900 | $290,000 | 102.5% | 2,741 | $106 | 29 |
| 2490 Sandia Dr. | Prescott | $214,900 | $215,000 | 100.0% | 1,800 | $119 | 30 |
| 1029 Cloud Cliff | Prescott Valley | $189,900 | $189,450 | 99.8% | 1,864 | $102 | 34 |
| 2325 Maricopa St | Chino Valley | $56,900 | $56,900 | 100.0% | 2,104 | $27 | 35 |
| 5201 Long Rifle Roa | Prescott Valley | $71,500 | $85,250 | 119.2% | 1,320 | $65 | 36 |
| 715 Ruth St | Prescott | $75,240 | $69,500 | 92.4% | 785 | $89 | 36 |
| 805 Prescott Heigh | Prescott | $125,900 | $147,500 | 117.2% | 1,528 | $97 | 36 |
| 8190 Loos Dr | Prescott Valley | $77,900 | $77,900 | 100.0% | 1,740 | $45 | 37 |
| 9120 Barnwood | Prescott Valley | $299,500 | $289,500 | 96.7% | 2,598 | $111 | 38 |
| 5501 Pawnee | Prescott Valley | $84,150 | $81,000 | 96.3% | 1,920 | $42 | 41 |
| 5305 Bruno Canyon D | Prescott | $434,900 | $434,900 | 100.0% | 3,045 | $143 | 41 |
| 3370 Pawnee Trail | Chino Valley | $155,000 | $165,000 | 106.5% | 1,724 | $96 | 42 |
| 7611 Outlook Lane | Prescott Valley | $183,900 | $210,000 | 114.2% | 1,967 | $107 | 42 |
| 5270 Verde Ln | Prescott Valley | $119,900 | $125,000 | 104.3% | 1,398 | $89 | 47 |
| 2915 Shadow Hawk | Prescott | $599,960 | $586,620 | 97.8% | 3,291 | $178 | 47 |
| 4317 Verde Vista Dr | Prescott Valley | $165,000 | $175,000 | 106.1% | 1,630 | $107 | 49 |
| 7600 Outlook Lane | Prescott Valley | $224,500 | $231,000 | 102.9% | 2,248 | $103 | 51 |
| 493 Coulter Circle | Prescott | $266,400 | $266,000 | 99.8% | 2,448 | $109 | 51 |
| 3131 Prescott East | Prescott Valley | $112,000 | $109,000 | 97.3% | 1,440 | $76 | 53 |
| 821 Delano | Prescott | $184,500 | $184,500 | 100.0% | 2,140 | $86 | 55 |
| 10096 Henderson Rd | Dewey -Humboldt | $9,900 | $23,000 | 232.3% | 1,296 | $18 | 56 |
| 5884 Bronco Lane | Prescott Valley | $149,900 | $149,900 | 100.0% | 1,501 | $100 | 56 |
| 4786 Edgemont | Prescott Valley | $161,900 | $157,000 | 97.0% | 1,609 | $98 | 57 |
| 20990 Cactus Wren | Cordes Lake | $24,500 | $23,000 | 93.9% | 1,725 | $13 | 60 |
| 2575 Covey Ln | Chino Valley | $169,900 | $158,000 | 93.0% | 1,694 | $93 | 60 |
| 4361 Ranger Rd | Prescott Valley | $54,900 | $50,000 | 91.1% | 864 | $58 | 61 |
| 4013 Dale Dr | Prescott Valley | $99,900 | $98,000 | 98.1% | 1,392 | $70 | 63 |
| 4785 Ranger Road | Prescott Valley | $49,900 | $46,000 | 92.2% | 1,056 | $44 | 64 |
| 3003 Prescott East | Prescott Valley | $61,750 | $58,000 | 93.9% | 1,440 | $40 | 65 |
| 9470 Magma Drive | Prescott Valley | $194,086 | $185,200 | 95.4% | 2,224 | $83 | 65 |
| 9829 Juniper Circle | Prescott Valley | $125,000 | $106,500 | 85.2% | 1,796 | $59 | 67 |
| 8026 Prescott Rd | Prescott Valley | $125,000 | $125,500 | 100.4% | 1,384 | $91 | 70 |
| 5110 Creekview Ln | Prescott | $399,900 | $340,000 | 85.0% | 2,777 | $122 | 72 |
| 3480 Victor Rd | Prescott Valley | $69,900 | $69,900 | 100.0% | 1,344 | $52 | 73 |
| 19966 Zaragoza Dr | Cordes Lake | $69,900 | $69,000 | 98.7% | 963 | $72 | 74 |
| 8023 Winding Trail | Prescott Valley | $154,900 | $151,750 | 98.0% | 1,472 | $103 | 74 |
| 2359 Desert Willow | Prescott | $299,900 | $297,500 | 99.2% | 2,069 | $144 | 74 |
| 3155 Date Creek Dr | Prescott Valley | $114,900 | $114,900 | 100.0% | 1,306 | $88 | 75 |
| 295 Aspen Dr | Paulden | $11,500 | $11,500 | 100.0% | 720 | $16 | 77 |
| 5354 Cord | Prescott Valley | $128,500 | $136,000 | 105.8% | 1,392 | $98 | 77 |
| 2461 Lakewood Dr. | Prescott | $249,900 | $234,900 | 94.0% | 2,028 | $116 | 77 |
| 8169 Frank | Prescott Valley | $99,000 | $104,900 | 106.0% | 1,196 | $88 | 80 |
| 11784 Hawk Dr | Mayer | $99,500 | $91,500 | 92.0% | 5,683 | $16 | 85 |
| 155 Harpson Trl | Paulden | $145,000 | $145,000 | 100.0% | 1,648 | $88 | 85 |
| 26455 Bull Snake Rd | Paulden | $143,900 | $143,900 | 100.0% | 1,934 | $74 | 88 |
| 7443 Mountain Dr | Prescott Valley | $139,900 | $139,900 | 100.0% | 1,425 | $98 | 91 |
| 4310 Aqua Fria Driv | Prescott Valley | $149,900 | $149,900 | 100.0% | 1,754 | $85 | 91 |
| 5230 Stetson Dr. | Prescott Valley | $130,900 | $130,700 | 99.8% | 1,408 | $93 | 92 |
| 7801 Las Palmas | Prescott Valley | $78,000 | $80,000 | 102.6% | 1,040 | $77 | 96 |
| 1201 Just Ray Ranch | Chino Valley | $149,900 | $140,000 | 93.4% | 3,040 | $46 | 98 |
| 1255 Brentwood Way | Chino Valley | $164,500 | $155,000 | 94.2% | 1,786 | $87 | 98 |
| 13100 Claybank | Dewey -Humboldt | $29,900 | $26,000 | 87.0% | 1,025 | $25 | 104 |
| 2360 Gambels Ridge | Chino Valley | $133,000 | $130,500 | 98.1% | 1,426 | $92 | 104 |
| 3455 Sparks Trail | Prescott | $595,000 | $590,000 | 99.2% | 4,100 | $144 | 105 |
| 775 Hideaway Ln | Prescott | $299,900 | $282,500 | 94.2% | 3,418 | $83 | 107 |
| 1735 Bottlebrush | Chino Valley | $51,900 | $47,500 | 91.5% | 2,112 | $22 | 108 |
| 522 Grove | Chino Valley | $200,000 | $200,000 | 100.0% | 2,018 | $99 | 109 |
| 6701 Hwy 69 | Mayer | $135,000 | $131,000 | 97.0% | 3,252 | $40 | 112 |
| 11573 Turquoise Cir | Dewey -Humboldt | $164,900 | $158,000 | 95.8% | 2,054 | $77 | 112 |
| 2531 Reed Rd | Chino Valley | $159,900 | $154,000 | 96.3% | 1,863 | $83 | 113 |
| 6201 Rockland | Prescott Valley | $99,900 | $95,000 | 95.1% | 1,441 | $66 | 115 |
| 8131 Tranquil Blvd | Prescott Valley | $149,000 | $149,000 | 100.0% | 1,428 | $104 | 115 |
| 3434 Robert | Prescott Valley | $92,000 | $93,000 | 101.1% | 1,408 | $66 | 116 |
| 453 Cortina St | Dewey -Humboldt | $219,900 | $180,000 | 81.9% | 3,021 | $60 | 120 |
| 3742 Greg Dr | Prescott Valley | $79,800 | $71,900 | 90.1% | 1,296 | $55 | 126 |
| 12914 Delgado St | Prescott Valley | $154,900 | $157,000 | 101.4% | 1,956 | $80 | 128 |
| 4785 Edgemont Rd | Prescott Valley | $169,900 | $167,000 | 98.3% | 1,756 | $95 | 130 |
| 4790 Edgemont Rd | Prescott Valley | $130,000 | $135,000 | 103.8% | 1,338 | $101 | 132 |
| 8486 Posse Cir | Prescott Valley | $82,500 | $78,000 | 94.5% | 1,612 | $48 | 133 |
| 403 Isabelle | Prescott | $295,000 | $281,500 | 95.4% | 2,237 | $126 | 133 |
| 1734 Colton Dr | Prescott Valley | $244,900 | $232,000 | 94.7% | 2,706 | $86 | 136 |
| 17075 Spring Valley | Spring Valley | $94,999 | $97,500 | 102.6% | 1,248 | $78 | 139 |
| 5010 Pinto Dr | Prescott Valley | $164,900 | $149,985 | 91.0% | 1,529 | $98 | 141 |
| 1148 Arden Ct | Chino Valley | $164,900 | $150,000 | 91.0% | 1,830 | $82 | 147 |
| 13065 Ponce | Prescott Valley | $159,900 | $160,400 | 100.3% | 1,809 | $89 | 153 |
| 811 Cochise Drive | Dewey -Humboldt | $180,000 | $179,000 | 99.4% | 3,111 | $58 | 157 |
| 6515 Falon Ln | Prescott Valley | $259,900 | $240,000 | 92.3% | 2,451 | $98 | 160 |
| 4141 Tonto | Prescott Valley | $135,900 | $135,000 | 99.3% | 1,493 | $90 | 163 |
| 24650 Donkey Dr | Paulden | $239,000 | $210,000 | 87.9% | 2,618 | $80 | 165 |
| 1495 Roadrunner N | Prescott | $419,000 | $430,000 | 102.6% | 3,696 | $116 | 171 |
| 6211 Antelope Ln | Prescott Valley | $109,900 | $105,000 | 95.5% | 1,127 | $93 | 178 |
| 2278 Parama Ln | Chino Valley | $199,900 | $186,500 | 93.3% | 1,976 | $94 | 178 |
| 7816 Las Palmas Dr | Prescott Valley | $169,900 | $140,000 | 82.4% | 1,668 | $84 | 184 |
| 5360 Long Rifle | Prescott Valley | $144,900 | $146,700 | 101.2% | 1,328 | $110 | 185 |
| 3412 Dale Drive | Prescott Valley | $125,000 | $115,000 | 92.0% | 1,441 | $80 | 189 |
| 6451 Chatham Dr | Prescott Valley | $199,900 | $195,000 | 97.5% | 2,000 | $98 | 194 |
| 1711 Commonwealth | Prescott | $250,000 | $200,000 | 80.0% | 2,335 | $86 | 195 |
| 600 Old Dog Lane | Paulden | $149,900 | $120,000 | 80.1% | 2,000 | $60 | 196 |
| 7922 Music Mountain | Prescott Valley | $169,900 | $142,000 | 83.6% | 1,991 | $71 | 199 |
| 12782 Moreno | Prescott Valley | $129,900 | $127,500 | 98.2% | 1,470 | $87 | 202 |
| 1226 Timber Point N | Prescott | $199,900 | $192,000 | 96.0% | 1,462 | $131 | 205 |
| 6505 Stratford Dr. | Prescott Valley | $187,000 | $187,000 | 100.0% | 2,041 | $92 | 207 |
| 2126 Lynxwood Dr | Prescott | $224,900 | $175,000 | 77.8% | 2,738 | $64 | 209 |
| 699 Cloudcrossing | Prescott | $599,900 | $520,000 | 86.7% | 3,533 | $147 | 210 |
| 525 Homestead Mesa | Chino Valley | $229,900 | $229,000 | 99.6% | 1,916 | $120 | 214 |
| 3173 Shoshone Drive | Prescott | $69,000 | $75,000 | 108.7% | 863 | $87 | 223 |
| 200 Gina Marie | Paulden | $128,500 | $125,000 | 97.3% | 2,176 | $57 | 224 |
| 868 Lori Ln. | Chino Valley | $215,000 | $215,000 | 100.0% | 1,856 | $116 | 231 |
| 7341 Sunflower | Prescott Valley | $132,000 | $132,500 | 100.4% | 1,478 | $90 | 234 |
| 12713 Tierra Aspera | Dewey -Humboldt | $131,100 | $131,100 | 100.0% | 1,782 | $74 | 252 |
| 1673 Bent Tree Trai | Prescott | $530,000 | $500,000 | 94.3% | 2,783 | $180 | 267 |
| 3513 Etheridge | Prescott Valley | $82,000 | $80,000 | 97.6% | 1,168 | $68 | 273 |
| 2163 Forest Mountai | Prescott | $478,000 | $440,000 | 92.1% | 3,325 | $132 | 273 |
| 10800 Austin Ln. | Mayer | $64,900 | $55,000 | 84.7% | 1,248 | $44 | 276 |
| 2725 Bayberry Drive | Paulden | $117,900 | $117,900 | 100.0% | 1,398 | $84 | 280 |
| 5580 Pawnee | Prescott Valley | $109,900 | $110,100 | 100.2% | 1,609 | $68 | 282 |
| 5866 Murray Circle | Prescott | $279,000 | $250,000 | 89.6% | 2,517 | $99 | 289 |
| 2590 Solar View Dri | Chino Valley | $175,000 | $175,000 | 100.0% | 2,045 | $86 | 380 |
| 425 Isabelle Lane | Prescott | $349,900 | $325,000 | 92.9% | 2,214 | $147 | 441 |
| Number of Homes: | 117 | ||||||
| Average | $171,199 | $165,180 | 98.4% | 1,903 | $84 | 119 | |
| Median | $149,000 | $143,900 | 98.7% | 1,754 | $86 | 98 | |
| MLS Data as of: | 11/1/2009 | *Source: PAAR MLS | |||||
See: Why short sales aren’t always a good deal.
Considering making an offer in today’s distressed home marketplace in Prescott or Prescott Valley? See: Top 10 tips to win the REO multiple offer game.
For more information on any of these listings, please contact me.
Search for Prescott area REO/Foreclosed and Short Sale Listings
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Thanks for your comment, Robert. I think if you read the entirety of my blog you will see that I try to post the current news and views about the market. You are welcome to post your analysis of what the market will do. My readers welcome input from all sides.
Thank you! This is just what I was looking for. Keep up the great work!
[...] How to help speed up a short sale tips [...]
Great blog post. The media will never pick up on this because it is more complicated than a soundbite.
If I may add that with the number of outstanding loans that are scheduled to reset in the next couple of years, decreasing home values and stricter lending guidelines, the rate of foreclosures are on track to peak in 2010. Short sales have become a growing niche for Real Estate Agents to sell homes before they become bank owned.
short sales | short sales education | short sales success
1/3 on the market are foreclosed or short sales – wow. It’s nice that you research this information. The agents who represent home sellers prob don’t share that info with buyers. Take care.
Dear Patrick,
Great article! I agree with you. I also would like to add couple more alternatives to those homeowners who want to stay in their homes.
There are two products those aren’t widely knowing and common in the market place. Trsutee Foreclosure Delays and Loan Re-Write.
Did you know that Homeowners are illegally being foreclosed on especially in Trustee States?
In Judicial Foreclosure states, a judge reviews the legality of the foreclosure proceedings to ensure the homeowner is being protected against greedy lenders and yet still the lenders are not properly following the foreclosure laws correctly (see this article: http://www.nytimes.com/2009/08/31/nyregion/31judge.html?_r=2).
In Trustee States, lenders employ a “third party” trustee company to replace the legal function of a judge and orchestrate the foreclosure process. If banks are not legally foreclosing when they know a judge reviews the case what do you think they are doing when they only have to go through a trustee that they pay? And what is more interesting, the trustee company is liable for the foreclosure proceedings but who is going after the trustee companies to review the legality of these foreclosure packages? You guess it! Yes, No one is..!
Did you know that a loan Re-Write program has the ability to reduce homeowner’s current loan balance down to the current market value at prime + 3%?
Here is an example: You owe $500K on your home but it is only worth $350k. Investors will bulk purchase the note from your current lender and re-write it back to you at $350k, saving you (the homeowner) over $150k!
I hope this helps!
To find out more about our services you may want to visit http://ASNDinc.com/
Yamen Elasadi
yamen@ASNDinc.com
Arizona Unemployment Trends – September 2009
Arizona Unemployment Trends Visualized as a Heat Map:
Arizona Unemployment in September 2009 (BLS data)
http://www.localetrends.com/st/az_arizona_unemployment.php?MAP_TYPE=curr_ue
versus Arizona Unemployment Levels 1 year ago
http://www.localetrends.com/st/az_arizona_unemployment.php?MAP_TYPE=m12_ue
[...] How to help speed up a short sale tips [...]
[...] How to help speed up a short sale tips [...]
This is good news… Foreclosure market needs movement to make more money and start leaving this situation
that’s good to hear. when you are experiencing foreclosure, you need the help of reliable real estate agents. when you are looking for them you may visit this site:
REALTOR
[...] How to help speed up a short sale tips [...]
[...] How to help speed up a short sale tips [...]
Hi!. Thanks for the blog. I
Hello, possibly this posting could be off topic but anyhow, I’ve gone surfing about your site and it looks genuinely great. It’s obvious that you know your topic and you appear passionate about it. I’m constructing a new blog plus I’m attempting to make it look good, and also present the best quality content. I
Considering, finding the right foreclosure home is the most essential step involved while buying a foreclosure some research should be done ahead of time before finding the most affordable home.
[...] See: Why short sales aren’t always a good deal. [...]
[...] Considering making an offer in today’s distressed home marketplace in Prescott or Prescott Valley? See: Top 10 tips to win the REO multiple offer game. [...]
[...] Foreclosures are still cranking in the U.S [...]
[...] 31% of Phoenix area home sales are foreclosures in March down from 51% in Feb [...]
[...] How to help speed up a short sale tips [...]
[...] See: Why short sales aren’t always a good deal. [...]
[...] Considering making an offer in today’s distressed home marketplace in Prescott or Prescott Valley? See: Top 10 tips to win the REO multiple offer game. [...]
[...] See: Why short sales aren’t always a good deal. [...]
[...] Considering making an offer in today’s distressed home marketplace in Prescott or Prescott Valley? See: Top 10 tips to win the REO multiple offer game. [...]
[...] How to help speed up a short sale tips [...]
[...] How to help speed up a short sale tips [...]
[...] How to help speed up a short sale tips [...]
[...] See: Why short sales aren’t always a good deal. [...]