Arizona Home Talk

Over 78% of sales occur $200k & under!

I was sent this 2010 market data from Active Finance Group, LLC.  Very interesting statistics of what is actually selling these days!  I find this to be true in my experience - all my buyers are buying homes under $200,000 lately!  Click here to see the newsletter in a new window. - Becky Total Jan-10 Closings 5575 Sales price No. sales % [...]

City of Phoenix $15,000 downpayment grant program

UPDATE * (as of Dec. 2011) Hi Becky, Thank you for taking my call this morning; as discussed, I have outlined some of the program improvements and highlights below.  Also feel free to refer to the website for additional information www.phoenix.gov/nsphome. The Homeownership Assistance Program is in close out mode, there are only 4 slots left.  The purchase price [...]

What is a HUD Repo home?

What is a HUD home? If a loan that is insured by the Federal Housing Administration (FHA) goes into default, the lender must take steps to collect on the loan.  This may result in the lender taking possession of the Real Estate Collateral.  If this occurs, the lender may submit a claim against the FHA insurance [...]

Email Reply RE: $10-$30,000 Houses for sale

Hi Becky, I was recently on your website and think you do a nice job with it. I noticed you pay quite a bit of attention to the auction market. I have been hearing stories of folks picking up fairly nice homes with $10,000- $30,000 cash, and find that almost unrealistic. How common is something like [...]

They Took Everything. A Stripped House.

People often ask me if all foreclosures are in horrible condition. The answer is no. I’ve seen perfectly fine bank-owned houses. The former owners are NOT supposed to take ceilings fans, light fixtures and appliances - but those are the 3 items that most commonly disappear with the former-owners. But this house was [...]

Auction Results from Phoenix Convention Center

I attended the REDC auction with homebuying clients on July 13th, 2009.  The day before the auction I let my clients inside each house scheduled to be auctioned with my special REALTOR key.  We saw 8 homes and they decided to bid on 5 and they got 1! REDC was auctioning off 400+ homes/condos/land I arrived at [...]

Seller’s Market under $250,000

The definition of a “buyer’s market” has traditionally meant that the supply is greater than the demand. Specifically, more than 5 months worth of inventory/supply is considered a buyer’s market. Obviously, the seller trying to sell her $900,000 house will be willing to negotiate a lot, make repairs and kiss your feet if [...]

Ugly House Award

I went to see this bank-owned house for sale for one reason - I thought it was a great deal. IF you can get over how ugly it is from the exterior. To see the “bird eye view” map of this house and amazing lot - click here. $369,900 (117 price per square foot) 3,159 square feet [...]

Southeast Valley Foreclosures $100-200,000

Curious what $100,000-$200,000 can buy you in Tempe, Chandler, Mesa or Gilbert? Looking for a real steal? Check out these foreclosures (AKA bank-owned, repo, REO) properties on the map below. Also, while you’re here, you may want to read my post on the pros and cons of buying a foreclosure. - Becky

PROS and cons of buying a foreclosure

  THINKING ABOUT BUYING FORECLOSURE? It’s no secret that foreclosure properties (AKA bank-owned, repos, real estate owned) are making up about 40% of all home sales lately.  It’s also obvious why - these are incredible deals.  Thinking about buying a bank-owned foreclosure? Here are some pros & cons to think about. Let me know if I [...]