The Scott's Sell Scottsdale

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Phoenix area MLS REO Stats for 2008

The greater Phoenix metro area has had it’s share of Real Estate Owned (REO) properties in 2008. These bank owned properties as selling rapidly as realtors, lenders and title companies are now have been educated and are understanding in this new selling option. This is a market of opportunity!

At the January 6th John Hall & Associates 2009 Real Estate kickoff meeting. our broker, Jim Sexton, shared some of the 2008 REO property statistics. Arizona real estate attorneys, Rick Mack. shared information on the mechanics of trustees sales, the 2007 Debt Relief Act, and deficiency judgments. We are ready for 2009!
 
According to the Phoenix MLS, in 2008 there was a total of 60,205 properties sold. Of this total, 20,535 (34%) were REO sales and 1,157 were short sales. An average of 46% of the sales for the forth quarter of 2008 were REO. In December 2008 there was a totol of 5,611 properties sold and 2,931 (52%) were REO properties. Currently 3,356 (59%) of the listing pending sale are Real Estate Owned (REO) properties.  These properties can be good deals for buyers as banks want to get them sold.

AZ MLS 2008 REO Home Sales Stats

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AZ MLS quarter 4 2008REO Home Sales Stats

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AZ MLS current Jan 2009 and Dec 2008 Pending Sales
  
 
The overall MLS property sales statistics for 2008 wereencouraging as the number of properties sold since June 2008 has increased steadily to date.
 
Review the Scottsdale/Phoenix MLS Properties currently for sale
 
480-948-0550
Toll free 866-464-2140
 

0 comments • Gary and Claudia Scott - Scottsdale, AZ Real Estate • January 07 2009 01:04PM

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