That also means that all of the listing numbers and sales numbers in this blog will be compiled from ARMLS (Phoenix Metro area) and tell the general marketing in this area unless otherwise specified!
Talking to buyers on a weekly basis and they usually ask about foreclosures since the media has been hyper focusing on distressed properties for years.
In 2010 foreclosures and short sales were approximately 70% of the market. In 2014 the numbers have completely switched and regular or "resales" are 70% of the market.
The few distressed properties that pop on the MLS have been priced in the neighborhood of the resale prices. Those "smoking deals" are few and far between!
Check out the numbers from the MLS vs last year!
What is the temperature of the market this year? Very cold to sellers! Buyers have multiple properties to look at and they can be picky. Inventory is high and demand is low.
That's ok though. This could be one heck of a snowbird season. It may be extremely cold up north and for the stars to align and let that Northerner buy an Arizona home! 300+ days of sun per year!
