Prescott Arizona area foreclosure market report as of 6-27-09
Print This Post 
Prescott Area Market Report
Thirty nine foreclosed or short sale homes came on the market last week, way up from last week’s 18. They made up about one in every 3 homes being listed in the Prescott Arizona Area MLS system. This is a marked increase and a one week high for distressed listings in the Prescott area. Could some of the phantom inventory being coming on the market?
See this post: Banks to unleash a phantom inventory of foreclosures say some
There were also 87 traditional listings that came on the market last week at an average of $177 per square foot. Compare that to the $104 per square foot average for the homes below. Which ones do you think will sell faster?
Short Sales: 9/39 are short sale listings (see yellow highlight). Short sales are becoming easier to deal with with some banks. I actually got through to a Citibank loan rep on 1 ring yesterday dealing with a short sale and they were very friendly too! If this is indeed a trend it could mean some better news for sellers and buyers alike who have been suffering from pathetic service from banks servicing short sales.
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 |
| 938936 | 25220 Lakeside | Paulden | $19,500 | 644 | $30 |
| 938926 | 20545 Yucca | Cordes Lake | $29,900 | 728 | $41 |
| 938879 | 1735 Bottlebrush | Chino Valley | $99,900 | 2,112 | $47 |
| 938939 | 1201 Just Ray Ranch R | Chino Valley | $149,900 | 3,040 | $49 |
| 938933 | 20954 Cactus Wren | Cordes Lake | $52,900 | 902 | $59 |
| 938856 | 20565 Ash Creek Rd | Mayer | $81,600 | 1,166 | $70 |
| 938952 | 12802 De La Cruz St. | Dewey -Humboldt | $170,900 | 2,175 | $79 |
| 938861 | 12922 Madrid | Dewey -Humboldt | $149,900 | 1,888 | $79 |
| 938957 | 12797 Garcia St | Dewey -Humboldt | $157,800 | 1,969 | $80 |
| 938963 | 8100 Loos | Prescott Valley | $74,900 | 934 | $80 |
| 938868 | 4523 Robin Drive | Prescott | $114,900 | 1,364 | $84 |
| 938913 | 5150 Desert Ln | Prescott Valley | $134,900 | 1,545 | $87 |
| 938965 | 7931 Mesteno | Prescott Valley | $278,500 | 3,171 | $88 |
| 938851 | 12847 Delgado St | Prescott Valley | $130,000 | 1,470 | $88 |
| 938934 | 4278 Kachina Way | Prescott Valley | $139,900 | 1,580 | $89 |
| 939011 | 13095 Tijuana Street | Dewey -Humboldt | $145,000 | 1,637 | $89 |
| 938887 | 937 Green | Prescott | $174,900 | 1,966 | $89 |
| 938863 | 1039 Wagon Wheel Driv | Prescott | $190,900 | 2,106 | $91 |
| 938914 | 4239 Kearny Dr | Prescott Valley | $118,500 | 1,292 | $92 |
| 939072 | 775 Hideaway Ln | Prescott | $319,900 | 3,418 | $94 |
| 939080 | 6145 Colt | Prescott Valley | $103,900 | 1,080 | $96 |
| 938993 | 1875 Hackberry Dr | Prescott | $150,000 | 1,537 | $98 |
| 938981 | 6653 Brombil St | Prescott Valley | $230,900 | 2,359 | $98 |
| 938878 | 7904 Crooked Creek Tr | Prescott Valley | $275,000 | 2,782 | $99 |
| 938985 | 9301 Cholla Lane | Prescott Valley | $147,500 | 1,456 | $101 |
| 938964 | 5349 Bremont Way | Prescott Valley | $159,900 | 1,358 | $118 |
| 938622 | 907 Yavapai Hills Dr | Prescott | $255,000 | 2,120 | $120 |
| 938910 | 9690 Paquette | Prescott Valley | $224,900 | 1,868 | $120 |
| 938977 | 1599 Magnolia Lane | Prescott | $299,900 | 2,477 | $121 |
| 938543 | 7675 Baxter Lane | Prescott Valley | $274,000 | 2,087 | $131 |
| 938567 | 4070 Cedar Heights Ro | Chino Valley | $224,900 | 1,659 | $136 |
| 938880 | 402 Ben J Trail | Chino Valley | $249,900 | 1,817 | $138 |
| 938953 | 2580 Heckthorn | Prescott | $350,000 | 2,506 | $140 |
| 938679 | 7300 Big Bug Mesa | Prescott | $405,000 | 2,848 | $142 |
| 938579 | 1727 Rolling Hills Dr | Prescott | $349,900 | 2,418 | $145 |
| 938643 | 1260 Manzanita Hill R | Prescott | $268,900 | 1,779 | $151 |
| 938975 | 479 Bloomingdale Dr. | Prescott | $394,000 | 2,446 | $161 |
| 938672 | 1515 Split Rail Trail | Prescott Valley | $478,900 | 2,661 | $180 |
| 938869 | 11780 Lost Man Canyon | Prescott | $499,900 | 2,083 | $240 |
| # of Homes Listed: | 39 | ||||
| Average | $207,103 | 1,909 | $104 | ||
| Median | $170,900 | 1,888 | $94 | ||
| MLS Date: | 7/1/2009 | *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
You can get this report sent to you via email. Sign up here.
Featured Listing: SHORT SALE
9301 E Cholla Lane
$147,500
Listing Courtesy of PATRICK SCHUTTE, RE/MAX MOUNTAIN PROPERTIES
Tags: 
Categories: 
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. [...]