The Phoenix area real estate is rising from the ashes just like its namesake, the mytical bird.
The lowest priced homes, under $100,000 are selling withind a few days, often with multiple offers.
Bank owned homes, (REO) ar also selling very well. REO new listings have been averaging 4,000 per month. Pending sales in this category are [...]
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An addendum to my last post. As I mentioned, one of the problems with foreclosed property is the poor condition we often see. Sometimes the poor condition is intentional abuse by the former owner/occupant. I guess they blame their financial condition on the lender who loaned them the money to buy the home, and than [...] Expect the property to be in terrible condition. Many foreclosed homes were abused as the former owners realized they were going to lose the home to the bank. Often the home has damaged and missing items. (A friend just sold one with NO KITCHEN. Additionally, the first thing a lender does is turn off the [...] |
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