North Scottsdale Interesting Real Estate Statistics

North Scottsdale Real Estate Statistics!

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Phoenix/Scottsdale has THE WORST REAL ESTATE MARKET IN THE COUNTRY.....RIGHT?

Careful! We know the media doesn't like to give good news because it doesn't keep you tuned in! There isn't a political agenda in any of the news we read, is there? The perception of Arizona is that ALL Arizona Real Estate is in a free fall downward....Check these North Scottsdale Real Estate Statistics out and see for yourself!

• As of today, we have 708 listings. 2008 we had 906
• AOT (as of today) we have 98 Pending Listings, 2008 we had 40
• AOT we have had 906 sales, 2008 we had 638, 2009 -762 sales
• AOT 289 days of inventory, 2008-551 days of inventory, 2009-362 days of inventory
• Last Month 7% appreciation- 2008 we had -16%

I am also not saying you need to run out and close this week...that would be foolish and not honest! Sometime in the next 6 months might be a good idea though.....just a thought.

It is not uncommon for the lower priced homes in a subdivision to see MULTIPLE OFFERS again! If the home is priced low, it's because they are looking for multiple offers!

FORECLOSURE SEARCHERS- Please understand that there are many, many, many, many people looking for the "great deal" and they should! The problem is that if you are only looking at North Scottsdale Foreclosures and short sales, you might be missing the boat and here's why.....

When we get someone who only wants to look at foreclosures and short sales, we set them up on a Free North Scottsdale Home Search! No problem....If you want me to limit it to only foreclosures and short sales in North Scottsdale, I can do that...You and the other 350 people in my database get the same updates. There are thousands of agents in North Scottsdale with clients looking for the same criteria. That creates a very specific buyer pool of only foreclosure seekers...Limited supply and Lots of buyers=BIDDING WARS. The days of offering $100k less on a property in North Scottsdale (under $750k) is wasting everyone's time unless you are simply doing it as a starting point. Just beware that the banks might (and probably will) reject it outright with no counter. They pay big money for market knowledge so don't think they don't have some idea of what's going on... (Over $750k is a different story) Jumbo Rates in Arizona are loans over $417,000, and not backed by the government....therefore they carry more risk....more risk equates to higher rates...Although they have come down quite a bit since 2008!!!!!

Here's a suggestion if you are looking for real estate in North Scottsdale- Look for value and get a good agent! A deal is a deal regardless if it is bank owned or not! Often, the costs involved with getting a bank owned home back up to speed and the difference of a traditional listing is often not a huge variance! I'm all for getting a deal in North Scottsdale, just don't be handcuffed by the "foreclosure, short-sale and bank-owned homes" headline!

If you have any questions or would like me to set you up on a Foreclosure search only :), rather a home or condo search in North Scottsdale, call or email me! If you are an investor looking to get cash on cash returns and actually cash flow a property, call me!

Thanks for reading!