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Nextage Realty Professionals

Prescott area foreclosure market update as of 2-20-09

By Jerry Cecil, on February 20th, 2009

Prescott Area Market Report

The distressed real estate market in the Prescott area was busy again this week with 17 new homes coming on the market, about one in every five homes being listed in the Prescott Arizona Area MLS system. From the sales side they represented about one in every three homes being sold, and [...]

Posted by Jerry Cecil February 20, 2009, 8:37 pm

Prescott area foreclosure market update 02-06-09

By Jerry Cecil, on February 7th, 2009

Prescott Market Report

Yesterday I went to Chino Valley with a client and we looked at some distressed sales that were priced at the same levels as 2002 and 50% off of 2006 prices!

My client decided to put in an offer and we are going to compete with 2 other buyers on a short sale [...]

Posted by Jerry Cecil February 7, 2009, 10:48 am

Loan modifications create mortgage slaves

By Jerry Cecil, on February 5th, 2009

Are you a mortgage slave?

Loan modifications create mortgage slaves.  That’s what Ramsey Su, a former REO broker, wrote in the Wall Street Journal last week about the foreclosure mess in the U.S. right now.  This article certainly has appliation in our own local market here in Prescott, AZ. 

He says that the efforts in Congress to [...]

Posted by Jerry Cecil February 5, 2009, 10:19 am
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