Non-short sale inventory moving fast in Tempe, Arizona

The final months of seller funded down payment assistance programs is drying up inventory! Non-short sale inventory, that is.

In Tempe, last week, search results for a client gave me 13 available units under $180,000. Yesterday, it was five. This morning, it was four. Are we at a bottom? Not even close.

Since my buyer needs seller funded down payment assistance, we can't be wasting time on a short sale that doesn't have a file in process yet. Too much risk is involved in waiting for the bank to respond. We're not the only ones avoiding short sales so any non-short sale property will have a nice time selling.

What can we look for? A property needing a bit of TLC. Otherwise, we'll be bidding on the "creme puff" properties with 8 or so others.

If you're doing a short sale listing, make sure to get the BPO ball rolling quickly! Have the complete packet worked up and sent in PRIOR to getting any offers. Although buyers won't be comfortable writing on short sales needing DPA, they may be left with no other chance or choice.