Foreclosures and REO properties in Phoenix are making a comeback!

Foreclosures and REO properties in Phoenix and the rest of Phoenix area have attracted an increased number of buyers making great deals in 2008.
Real Estate is in our Valley is finally moving in the right direction.
That means the market is close to a bottom, and sales should increase in volume.

Hello,
My name is Armin,
Safari Home Group Agents specialize in helping you achieve the best results on your home transaction. Today’s Market consists of a few types of homes for sale. 


Different ways to purchase a home:


Regular Listings
Regular listings are not as common any more, but we run into them sometimes. These are the types of transactions we are used too. Hopefully some day we will see more of them.

Bank Owned / REO listings 
As you know, because of the depreciating values in the last few years, many homeowners are walking away from their homes. This adds to the inventory of homes for sale and puts downwards pressure on the prices. Most transactions currently are Bank Owned properties. The process of securing a bank owned property is fairly strait forward and quick.

Short Sales
Short Sales are homes that are headed towards foreclosure, but the owner is attempting to sell, so they can avoid the foreclosure. Unfortunately the banks are more concerned about the homes on their inventory. Due to their limited resources the response time to an offer can take as long as 60 days. Most Buyers tend to stay away from Short Sales.

New Build Homes
New home builders are hurting. The falling prices of foreclosed homes for sale have squeezed the margin out of building homes for profit. Most New home builders are closing out and moving out. You may be able to find some great close out deals, but make sure that you are OK with undeveloped surroundings for some time.

Auction Homes
From a buyer’s perspective, you loose negotiating power when there are many others trying to purchase the same home. Most Auctions charge 5% on top of the negotiated price. Safari Agents do have Auction experience, but usually we can negotiate better deals of the market. Buyers get a lot more respect when they are the only buyer.



The Good News is that for the past few years many moved to phoenix, and decided to rent. Many of the future homebuyers are waiting for the right time to purchase.

The media has been very harsh on the Real Estate for good reasons. Phoenix Market had always attracted migrants for the weather and jobs. Our prices have fallen more than many other regions in the country. Lots of people are tempted with cheap home prices. We are optimistic, having a great time, and looking forward towards a normal Real Estate Market.

For those reasons, we try not to focus on the media, and look at the Phoenix Numbers.

We hold weekly open houses and there are an increased number of buyers on the streets looking. We feel that the general public is anticipating a bottom soon, possibly by mid 2009.

Safari Home Group agents are trained to locate the best deals in any area or price range.

We appreciate the opportunity to serve. Please contact us for your Foreclosure list tailored to your specification.
 

Thanks for visiting our on-line Arizona Real Estate source.