Prescott Arizona Area Foreclosure News

The distressed real estate market in the Prescott area was busy again this week with 18 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 over half of the homes sold, and were over half of the sales [...]

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 were over half [...]

REO, foreclosed and short sale new listings remained at a level of about 1 in 6 or 16% of every new listing.  Last week 46% of the pending sales were REO or Short Sales, and this week there 58% of deals in escrow were distressed sales.  The amount of REO/Short Sales that closed last week [...]

According to the Zillow Q4 Real Estate Market (2008) survey released yesterday by Zillow.com, some 70 percent of homeowners surveyed believe their home’s value will either increase or stay the same in the first six months of 2009, while only 30 percent expect a decrease in value.
Fifty-seven percent believe their home lost value last year, [...]

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 and I hope our [...]

Another busy week for me with several buyers making offers on properties, one without even seeing the property.  Some of the deals had multiple offers on them, even after a couple of days. 
If you are planning on making an offer, please read these tips on how to compete in the REO multiple offer game.
I know [...]