Prescott Arizona area foreclosure market report as of 10-17-09
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Prescott Area Market Report
29 new foreclosed or short sale homes came on the market during the week of October 11-October 17, up slightly from the previous week’s 25. These made up approximately 1/3 of homes being listed in the Prescott Arizona Area MLS system.
There were 52 traditional listings that came on the market last week at an average of $133 per square foot. Compare that to the $90 per square foot average for the homes below.
Short Sales: 9/29 are short sale listings (see yellow highlight). Short sales are priced typically a little higher than most of the REOs, but are still aggressively priced compared to traditional resale homes.
Thinking about a short sale? Read these tips to make it go as quickly as possible:
How to help speed up a short sale tips
| Foreclosed and short sale homes new on market | |||||
| MLS | Address | City | List Price | SQFT | $/SQFT |
| 941643 | 25755 Foothills Drive | Seligman | $49,900 | 1,666 | $30 |
| 941593 | 20542 Stagecoach Trail | Cordes Junction | $44,900 | 1,248 | $36 |
| 941735 | 12290 Montezuma Way | Dewey -Humboldt | $55,900 | 1,296 | $43 |
| 941712 | 25020 Spruce Dr | Paulden | $50,000 | 1,155 | $43 |
| 941630 | 985 Mingus Ave | Cottonwood | $65,900 | 1,015 | $65 |
| 941666 | 1123 Poco Lane | Chino Valley | $145,000 | 2,075 | $70 |
| 941632 | 3418 Prescott East Hw | Prescott Valley | $85,000 | 1,206 | $70 |
| 941629 | 6090 Sunset Ln | Prescott Valley | $75,000 | 1,032 | $73 |
| 941715 | 11501 Wingfoot | Dewey -Humboldt | $106,900 | 1,467 | $73 |
| 941700 | 3184 Constance Dr | Prescott Valley | $80,000 | 995 | $80 |
| 941656 | 8301 Tranquil Blvd | Prescott Valley | $115,000 | 1,428 | $81 |
| 941664 | 925 Madizell | Prescott | $265,000 | 3,281 | $81 |
| 941727 | 4250 Trey Lane | Paulden | $125,000 | 1,532 | $82 |
| 941592 | 5668 Roadrunner Dr | Prescott Valley | $119,900 | 1,315 | $91 |
| 941685 | 9671 Rimrock Circle | Prescott Valley | $143,000 | 1,544 | $93 |
| 941591 | 2520 Road 4 North | Chino Valley | $82,500 | 864 | $95 |
| 941687 | 2330 Grey Fox Circle | Chino Valley | $125,000 | 1,279 | $98 |
| 941627 | 10786 Turquoise Cir | Dewey -Humboldt | $165,000 | 1,675 | $99 |
| 941651 | 3088 Montana Dr | Prescott | $200,000 | 2,029 | $99 |
| 941721 | 5710 Halcyone Cir | Prescott | $379,900 | 3,767 | $101 |
| 941739 | 4930 Treasure | Prescott Valley | $163,300 | 1,617 | $101 |
| 941709 | 4560 Ponderosa | Prescott | $141,000 | 1,300 | $108 |
| 941694 | 1030 Cloud Cliff Pass | Prescott Valley | $258,900 | 2,362 | $110 |
| 941771 | 1034 Cloud Cliff Pass | Prescott Valley | $232,000 | 2,070 | $112 |
| 941659 | 12835 Chancella Circle | Prescott | $439,900 | 3,623 | $121 |
| 941713 | 2630 Love Ln | Prescott | $384,900 | 2,944 | $131 |
| 941708 | 1960 Mulberry | Prescott Valley | $139,000 | 1,025 | $136 |
| 941726 | 1990 Aiken Ranch Road | Paulden | $325,000 | 2,240 | $145 |
| 941602 | 4 Cienega | Prescott | $280,000 | 1,790 | $156 |
| # of Homes Listed: | 29 | ||||
| Average | $166,993 | 1,753 | $90 | ||
| Median | $139,000 | 1,532 | $93 | ||
| MLS Date: | 10/18/2009 | *Source: (PAAR) 110-670 | |||
To get more information about any of these listings or any others in Prescott, Prescott Valley, Chino Valley or Dewey-Humboldt areas, feel free to contact me, or you can search by MLS number, address, or lots of other ways in our Search Prescott MLS section.
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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 [...]
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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. [...]