Category — Arizona Real Estate Stats

I received a very nice testimonial email today from one of our happy short sale clients and thought I would share it:

“Sean, thank you so much for helping us short sale our Arizona home. We talked to 10 different agents and you were the only one who could answer every question and you really went out of your way to explain the entire process. We knew right there that we were hiring Arizona’s best short sale agent and you proved it from day one! You sold our home in less than a month, got an approval from our TWO lenders in less than 60 days, and we closed right on time! You walked us through the process and we are so grateful to be able to put this behind us and move forward with our lives. Thank you again.”

We love to get testimonials from our clients and this one was from one of our client’s who really did his homework studying about short sales, foreclosures, and what options were best for him and his family. We’re glad he decided to allow us the opportunity to help another family avoid foreclosure and we’d like to provide a few reasons why we would like to continue to try and be Arizona’s best short sale agent:

1. We don’t charge any fees for our services — we are paid our commission from the lenders but we work and represent YOU!

2. Our team includes a full-time listing agent to list your property, multiple full time processors to process the short sale, a full-time buyers agent to show property, and we do our own professional negotiations of your short sale. We do not outsource our negotiation and we work hard for you to get your short sale approved!

3. We offer full professional resources including: Real estate attorneys, CPAs specializing in preparing taxes for people who have short sold property, credit repair companies for after the short sale is complete, and more! The best thing is all of these resources offer our clients FREE consultations!!

4. We list, sell, & process short sales full time, 7 days a week!! Short sales constitute 90-95% of our listings!

5. We work with ALL banks! We have worked with all of the major lenders and many of the smaller ones as well!! Chances are if you have a loan, we’ve short sold a property with that lender! Lenders change their policies & procedures constantly and with our large bulk of short sale listings we are constantly dealing with each of these banks on a daily & weekly basis so we are always current!

Those are a few reasons why our clients describe us as the “BEST SHORT SALE AGENT IN ARIZONA” but don’t just take their word for it, give us a call at 480-241-4404 or email us at Sean@AzHomeHelp.com and we’ll help you short sell your Arizona home today!

The Arizona State House & Senate have been proactive in helping the local real estate economy. To date 14 bills have been introduced relating to foreclosures, short sales, anti-deficiency laws, and other real estate issues. Here’s a list:

HB 2442, Reverse mortgages; regulations — Approved by House Banking & Insurance (B&I) Committee
HB 2270, Homeowner protection — Referred to House Commerce and B&I Committees
HB 2309, Foreclosure consultants — Awaiting Committee of the Whole (COW) floor action
HB 2479, Foreclosure deeds — Approved by House Government Committee
HB 2511, Municipal taxes — Approved by House Ways & Means Committee
HB 2554, Foreclosure consultants — Referred to House Commerce Committee
HN 2626, Deeds of trust — Approved by House Commerce Committee
HB 2728, Home equity purchasers — Referred to House Commerce and B&I Committees
HB 2739, Foreclosures, mandatory mediation — Referred to House Commerce & Government Committees
HB 2740, Foreclosure, right to sell — Referred to House B&I Committee
HB 2766, Tenant notice, foreclosure — Approved by House Commerce Committee
SB 1130, Foreclosure consultants — Awaiting Senate COW floor action
SB 1302, Real estate transfers — Awaiting Senate COW floor action
SB 1333, Exchange facilitators regulation — Referred to Senate Commerce

I did NOT include SB 1271 in there (The Arizona Anti-Deficiency Law) as it was repealed back in September, 2009. Thanks again, Governor Brewer!!

Phoenix Real Estate Stats

Currently valleywide we are looking at about just under 7 months supply of homes available for sale. A healthy market here in Phoenix would be closer to the 3 month supply mark.

Here are some stats for geographic areas:

Scottsdale — 11 month supply
Camelback Corridor — 10.5 month supply
Cave Creek — 10 month supply
Fountain Hills — 13 month supply
Paradise Valley — 20 month supply

Luxury Homes priced at 1 million and above are showing an over 27 month supply. 92% of Phoenix’s home sales are under the $400,000 price point and we feel this will continue in the future.

Currently there are 41,742 active listings in the Phoenix/Scottsdale MLS. 2,249 of these listings are over $1,000,000.

5,774 of these total active listings are REO or bank owned listings and 15,069 are active short sale listings awaiting offers or approvals. About 50% of the current active listings require bank approval via the REO or short sale departments.

WOW!! These numbers speak for themselves!

In the 3rd quarter of 2009, the greater Phoenix/Scottsdale area has seen over 4,200 APPROVED & CLOSED short sales!

2nd Quarter of 2009 showed just around 2,800 so this is a HUGE increase in approvals!

Lenders are beginning to streamline their processes (most of them anyways) and are more prepared to handle the volume of short sale deals. There are still obstacles to be overcome and saying that you are going to short sale your house is still not a guaranteed closing but by hiring the right short sale experts to help you (like those of us at AzHomeHelp.com for instance….shameless plug!!), having a qualifying hardship (medical, increase in expenses, loss or reduction of income, etc.), and preparing a nice clean package with a solid purchase offer all help increase your chances of a successful transaction.

To talk to someone about short selling your home today, please call us at 480-241-4406. We are available to help 7 days a week from 8am to 8pm or visit our Arizona Short Sale website at http://www.AzHomeHelp.com