Tough Times for Phoenix-Area Home Sellers
A report released last week by Arizona State University revealed that property values fell 18% year-over-year from April 2007 to April 2008. Foreclosures are mostly to blame for the decline, as buyers gobble up deals as banks get more and more aggressive with their ever-growing REO holdings. In fact, estimates indicate that 20-30% of April sales were foreclosures.
Now is an awesome time to snap up some amazing investment properties or to consider moving up to a new Phoenix or Scottsdale home. Consult your Realtor for a list of foreclosures and short sale properties, or for deeper analysis of today’s market. A professional with experience in finding and acquiring the ‘right’ properties can be an invaluable asset in maximizing your return on investment.
If you’re a home seller in today’s market, it’s equally important to work with a qualified professional so as to maximize your chances of selling for top dollar in the shortest time possible.