Are you looking to take advantage of the low prices in the short sales market in the Prescott area?  A few people are ahead of you already...

Today I went out 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!

We are going to compete with 2 other buyers on a short sale and I hope our offer prevails. 

Luckily the other agent was well versed in short sales and could answer the 10 questions that I try to get the short sale's agent to answer before making an offer.

Are Prices Going Up or Down in Prescott?

You'll be asked for an email address...this is to make sure humans are answering. 

Is it time to buy?  Some people think so and they are not only snapping up bargains on the sales price, they are also taking advantage of low rates the banks are offering, plus smart buyers are getting sellers to pay for loan points, closing costs, inspections and more. 

For more info about the current financing market,
check out my blog.

Search the Prescott MLS for foreclosure and short sale listings

           Market Summary for Last 7 Days*:      

Traditional sellers are asking an average of $152/sqft, and REO/Short Sales are at $121/sqft.

 That's 20% less.

*Source Prescott Area MLS Last 7 Days     

  Featured Listing: REO

Listing Courtesy of KELLER WILLIAMS CHECK REALTY

Last week's low number of new foreclosed, REO, and short sales listings at 6% of new listings wasn't a trend and we're back to 15%.  46% of the pending sales were REO or Short Sales, down by 6% from last week, but still almost half the listings.   The amount of REO/Short Sales that closed last week still represent about a 1/3 of our listings and went from 33% last week to 35% this week.  It's pretty easy to see the level of activity in the distressed sales market in the Prescott area is more than twice as much as the traditional market and given the 20% discount buyers are getting (can you say owner's equity?).

Find Foreclosures Nationwide! Use Nation's #1 Source to Unlock the Data Successful Investors Use!

More more information about the local  market, I recently posted in my blog about the last 60 days foreclosure market activity for Prescott, and the last 6 months of activity in the Prescott Valley foreclosure market.

New Foreclosed/REO/Short Sale Listings This Week:

Average list price per square foot is $121.

To get more information about any of these listings or any others in Prescott, Prescott Valley, Chino Valley or Dewy-Humboldt areas, feel free to
contact me, or you can search by MLS number, address, or lots of other ways in our Search the Prescott MLS section.  

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Patrick Schutte

REALTOR^®, CBR, e-PRO
CERTIFIED FORECLOSURE
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