Arizona Home Talk

Phoenix Market Snapshot

What is REALLY going on with Phoenix area real estate?  Here are the statistics as of 8/17/2009 - Properties For Sale in Phoenix-Metro area: 31,383 (it had been as high as 58,000 in ‘07/’08!) Lender Owned (foreclosures) for sale: 4,631 Short Sales for sale: 7,364 Properties under contract: 12,602 - 18,641 if you count those still in their inspection period. ACTIVE (for sale) listings [...]

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 [...]