Experts in Maricopa AZ Short Sales | Foreclosures and Maricopa AZ Homes

Contact Bill Wasowicz for all listings or to be listed for Maricopa AZ homes and real estate

waz@wizardsofwaz.com

ACTIVE: 143, up from 136 Although this represents a 5% increase over last week, we have seen this happen before over the past month only to return to the “bottom”. I’ll be keeping a very close eye on this number. The amount of homes entering the market on a daily basis appears to be fairly steady and it is still very difficult to find homes for our buyers regardless of ... Read More »]]> The inventory of Maricopa AZ subdivision homes for sale continues to fluctuate between 130 – 145 homes, the lowest levels in years. Although buyer activity remains strong, there has been a weakening in Pending sales as it has held relatively steady for the last two weeks at a number not seen since the first week of February. The next few weeks will be very telling so be sure to check back.

ACTIVE: 143, up from 136 Although this represents a 5% increase over last week, we have seen this happen before over the past month only to return to the “bottom”. I’ll be keeping a very close eye on this number. The amount of homes entering the market on a daily basis appears to be fairly steady and it is still very difficult to find homes for our buyers regardless of style of home or price range.

ACTIVE SHORT SALES: 21, up from 15. This increase accounts for most of the overall increase in inventory but once again we have seen this number flucuate over the past month. That being said, with schools letting out in the next few weeks, I am predicting that a number of distressed homeowners will choose this time to list their homes as short sales.

LENDER OWNED: 13, stable from 13 It still remains a mystery why lenders continue to hold back their “shadow” inventory and continue to postpone homes scheduled to be sold at Trustee Sale. Rumors have it that they will begin a release during the summer months, when nationwide home buying usually undergoes a seasonal increase. The number of vacant homes that have been foreclosed on but not yet listed is apparent in Maricopa and it is just a metter of time before they enter the marketplace. In addition, delinquent mortgages (30,60,90 days late) are also very high.

HUD homes: 3, down from 7 After a brief burst of inventoy of these homes, they have returned to their low number.

AWC (short sales with offers): 219, down from 225 That fact that not as many offers were accepted on short sales is the primary reason for the decline in overall inventory. Although this might suggest that buyers are now turning their attention to other types of sales, this is not supported by the decrease in Pending sales. I take it as an indication that the market is weakening but one week’s data is too small a sample to be sure.

PENDING: 271, up from 268 Although this number increased, it is the second week in a row of below average numbers.

CLOSED: 52, up from 49 Another strong number which was expected due to the high number of Pending sales from a couple of months ago.

ACTIVE RENTALS: Steady at 112 The inventory of rental homes has been rock solid since FEB.

HOMES RENTED: 28, up from 25 This number is always skewed a bit each month as many leases begin on the first of the month. That being said, there is still a strong and steady demand and inventory remains at around a 30 day supply. A great opportunity for investors if only there were more homes to purchase!

View the full spreadsheet Monthly home data

Whether these principal reductions actually happen, and how quickly, remains to be seen. I find it a bit humerous that you have had to have been delinquent for 60 days by January 31, 2012. What about the folks that have been ytrying their best to make payments but have only fell behind recently? It ... Read More »]]> Bank of America began mailing out more than 200,000 letters this week targeting borrowers thought to be eligible for principal-reducing modifications under terms of the recent settlement the company and four other servicers reached with the federal government and 49 state attorneys general. To qualify, the homeowner must owe more on the property than it is worth today (DUH!!) and must have been at least 60 days behind on payments on January 31, 2012. In addition, the monthly housing costs must be greater than 25%.

Whether these principal reductions actually happen, and how quickly, remains to be seen. I find it a bit humerous that you have had to have been delinquent for 60 days by January 31, 2012. What about the folks that have been ytrying their best to make payments but have only fell behind recently? It would appear, given the timelines, that they are targeting the homes that have already been served their Notice of Trustee Sale and were going to be foreclosed on. Depending on the amount of the principal reduction, they will most likely be receiving what they would be getting anyway.

I will have to admit that this is a step in the right direction but it is a far cry from what I would applaud them for!

ACTIVE: 143, up from 136  Although this represents a 5% increase over last week, we have seen this happen before over the past month only to return to the “bottom”. I’ll be keeping a very close eye on this number. The amount of homes entering the market on a daily basis appears to be fairly steady and it is still very difficult to find homes for our buyers regardless of ... Read More »]]> The inventory of Maricopa AZ subdivision homes for sale continues to fluctuate between 130 – 145 homes, the lowest levels in years. Although buyer activity remains strong, there has been a weakening in Pending sales as it has held relatively steady for the last two weeks at a number not seen since the first week of February. The next few weeks will be very telling so be sure to check back.

ACTIVE: 143, up from 136  Although this represents a 5% increase over last week, we have seen this happen before over the past month only to return to the “bottom”. I’ll be keeping a very close eye on this number. The amount of homes entering the market on a daily basis appears to be fairly steady and it is still very difficult to find homes for our buyers regardless of style of home or price range.

ACTIVE SHORT SALES: 21, up from 15.  This increase accounts for most of the overall increase in inventory but once again we have seen this number flucuate over the past month. That being said, with schools letting out in the next few weeks, I am predicting that a number of distressed homeowners will choose this time to list their homes as short sales.

LENDER OWNED: 13, stable from 13  It still remains a mystery why lenders continue to hold back their “shadow” inventory and continue to postpone homes scheduled to be sold at Trustee Sale. Rumors have it that they will begin a release during the summer months, when nationwide home buying usually undergoes a seasonal increase. The number of vacant homes that have been foreclosed on but not yet listed is apparent in Maricopa and it is just a metter of time before they enter the marketplace. In addition, delinquent mortgages (30,60,90 days late) are also very high.

HUD homes: 3, down from 7  After a brief burst of inventoy of these homes, they have returned to their low number.

AWC (short sales with offers): 219, down from 225  That fact that not as many offers were accepted on short sales is the primary reason for the decline in overall inventory. Although this might suggest that buyers are now turning their attention to other types of sales, this is not supported by the decrease in Pending sales. I take it as an indication that the market is weakening but one week’s data is too small a sample to be sure.

PENDING: 271, up from 268  Although this number increased, it is the second week in a row of below average numbers.

CLOSED: 52, up from 49  Another strong number which was expected due to the high number of Pending sales from a couple of months ago.

ACTIVE RENTALS: Steady at 112  The inventory of rental homes has been rock solid since FEB.

HOMES RENTED: 28, up from 25  This number is always skewed a bit each month as many leases begin on the first of the month. That being said, there is still  a strong and steady demand and inventory remains at around a 30 day supply. A great opportunity for investors if only there were more homes to purchase!

View the full spreadsheet  Monthly home data

What can you do in Maricopa?  Well, this time of year, you’ll want to get out and check out the many bike paths and pedestrian trails. You might also want to take the short trip to Phoenix and visit the zoo, the Desert Botanical Gardens or make a stop at MIM, the Musical Instrument Museum.

After dark, you can enjoy a variety of activities from hitting the local hot spots to taking in a movie in the park.  The city of Maricopa Community Services Department presents the series each May and June. The films begin Saturdays at ... Read More »]]> Maricopa, Arizona is a great place to live and you’ll never lack for something to do, whether you like to get out during the day or after dark! Living here provides you with great access to a limitless number of activities, sports and experiences.

What can you do in Maricopa?  Well, this time of year, you’ll want to get out and check out the many bike paths and pedestrian trails. You might also want to take the short trip to Phoenix and visit the zoo, the Desert Botanical Gardens or make a stop at MIM, the Musical Instrument Museum.

After dark, you can enjoy a variety of activities from hitting the local hot spots to taking in a movie in the park.  The city of Maricopa Community Services Department presents the series each May and June. The films begin Saturdays at 7:00pm at Pacana Park.  Imagine a night under the stars with feature family films, concessions and enough childhood energy to power Arizona for a weekend! Be sure to bring a lawn chair and blanket and enjoy a fun-filled night of entertainment.

Need a more reflective nocturnal outing?  The Dorrance Planetarium inside the Arizona Science Center in Phoenix will entertain and educate you with their advanced star projector that merges video imaging to create a one of a kind virtual presentation of the universe!  There are several live shows that depend on audience interaction using unique armrests.  The 60 foot dome, the vastness of the galaxy and the quality of the performances all combine to make a one of a kind experience.

There is always something to do in Maricopa. Want to experience nature outdoors?  Maricopa County has 10 regional parks with more than 120,000 acres of amazing landscapes, trails and outdoor activities.  One great example is Estrella Mountain Regional Park. Boasting  19,840 acres of desert and mountains it was the first regional park in the Maricopa County Park System. Imagine hiking near the meeting of the Gila and Agua Fria Rivers and features a large riparian area.  The park offers visitors many visitors including a unique grass picnic area.

Best of all, you can be a part of the Maricopa community!  Today, home prices are really attractive with the median price of a home here running just $100,000+/-. If you are looking for a great place to live and that has great access to the Phoenix area, Maricopa, Arizona could be the perfect fit for you!

When you’re ready to buy or sell any home or real estate in Maricopa, please give us a call. We know the market, the area, the buyers and the trends and can help get you to your goals quicker.

Thanks to McMillan for the use of the photo: http://commons.wikimedia.org/wiki/File:NRHP_Arizona_Maricopa_Tempe_AdminScienceBuilding.jpg

On another note, Maricopa AZ homes available at the daily Trustee Sale have slowed down quite a bit. The “pickings” are slim and those that are available are selling at a HUGE premium.With the summer season right around the corner, it will be interesting to see if many investors are being a bit too aggressive and are left “holding the bag” ... Read More »]]> Inventory of Maricopa Arizona subdivision homes for sale moved up ever so slightly this week. It is interesting to note that in spite of this small increase, available short sales and foreclosures edged downward which continues to show a movement towards investor owned resales along with a sprinkling of traditional sales. Most pricing remains above appraised values making it very difficult for financed buyers unless they are able to contribute additional cash at close of escrow. Cash is still king!

On another note, Maricopa AZ homes available at the daily Trustee Sale have slowed down quite a bit. The “pickings” are slim and those that are available are selling at a HUGE premium.With the summer season right around the corner, it will be interesting to see if many investors are being a bit too aggressive and are left “holding the bag” if, in fact, inventory increases as expected in the coming months.

ACTIVE: 147, up from 144

ACTIVE SHORT SALES: 15, down from 18 Buyers continue to turn to the few available short sales out there. As a result, prices are being bid up aggressively and this is no longer a place to turn for great deals.

LENDER OWNED: 10, down from 13 “Shadow” inventory, where are you??? Rumor has it that lenders will begin a release soon. Will they?

HUD homes: Primary occupant only at this time. Due to under value pricing, they are going off the market with multiple bids as soon as the 10 day hold period is over.

AWC (short sales with offers): 222, up from 220

PENDING: 282, down from 291 Although not a big change, this is the lowest number since mid-FEB.

CLOSED: 48, up from 44

ACTIVE RENTALS: 112, steady from 113 Rental inventory remains at around a 45 day supply.

RENTALS CLOSED: 20, stable from 22

Read the full report here Monthly home data

On another note, Maricopa AZ homes available at the daily Trustee Sale have slowed down quite a bit. The “pickings” are slim and those that are available are selling at a HUGE premium.With the summer season right around the corner, it will be interesting to see if many investors are being a bit too aggressive and are left “holding the bag” ... Read More »]]> Inventory of Maricopa Arizona subdivision homes for sale moved up ever so slightly this week. It is interesting to note that in spite of this small increase, available short sales and foreclosures edged downward which continues to show a movement towards investor owned resales along with a sprinkling of traditional sales. Most pricing remains above appraised values making it very difficult for financed buyers unless they are able to contribute additional cash at close of escrow. Cash is still king!

On another note, Maricopa AZ homes available at the daily Trustee Sale have slowed down quite a bit. The “pickings” are slim and those that are available are selling at a HUGE premium.With the summer season right around the corner, it will be interesting to see if many investors are being a bit too aggressive and are left “holding the bag” if, in fact, inventory increases as expected in the coming months.

ACTIVE: 147, up from 144

ACTIVE SHORT SALES: 15, down from 18  Buyers continue to turn to the few available short sales out there. As a result, prices are being bid up aggressively and this is no longer a place to turn for great deals.

LENDER OWNED: 10, down from 13   “Shadow” inventory, where are you??? Rumor has it that lenders will begin a release soon. Will they?

HUD homes: Primary occupant only at this time. Due to under value pricing, they are going off the market with multiple bids as soon as the 10 day hold period is over.

AWC (short sales with offers): 222, up from 220

PENDING: 282, down from 291  Although not a big change, this is the lowest number since mid-FEB.

CLOSED: 48, up from 44

ACTIVE RENTALS: 112, steady from 113   Rental inventory remains at around a 45 day supply.

RENTALS CLOSED: 20, stable from 22

Read the full report here Monthly home data

As it stands now, homes are still very difficult to come by especially at a price that will meet appraisal. It is almost impossible to find homes for under $80,000. Although it remains a Sellers Market, this could ... Read More »]]> Inventory of subdivision homes for sale in Maricopa Arizona has increased very slightly but is still hovering around it’s all time lows. All of the key indicators have remained pretty steady but this could change soon as the seasonal buyers are in the process of Migrating back home. I estimate that about half have left already with the other half leaving by mid-May. There are plenty of rumors /news feeds that seem to indicate that the lenders will begin to release their “shadow” inventory of foreclosed homes. If that happens, coupled with the absence of most seasonal buyers, inventory should begin to increase.

As it stands now, homes are still very difficult to come by especially at a price that will meet appraisal. It is almost impossible to find homes for under $80,000. Although it remains a Sellers Market, this could shift a bit in the coming months.

ACTIVE: 144, up from 139

SHORT SALES: 18, up from 18

FORECLOSURES: 13, stable from 12

HUD Homes: 9, up from 4 After a long period of inactivity, here has been a resurgence of HUD homes recently. As a rule, they tend to be priced about 10% below market value and receive multiple offers during the 10 day intial bidding period. For those not familiar with them, they are reserved for owner occupants only for the first 30 days and none are lasting past the intial 10 period. If this continues, it could help the inventory problem as there were over 30 of these homes available around the first of the year.

AWC (short sales with offer): 220, stable from 223

PENDING: 291, down from 306

CLOSED: 44, up from 32 This the the strongest week we have seen for closings in quite some time (except, of course, for the end of the month weeks).

RENTALS: 113, up from 108

RENTALS CLOSED: 22, stable from 22 This number has remained very strong and steady this year.

View the full report Monthly home data

As it stands now, homes are still very difficult to come by especially at a price that will meet appraisal. It is almost impossible to find homes for under $80,000. Although it remains a Sellers Market, this could ... Read More »]]> Inventory of subdivision homes for sale in Maricopa Arizona has increased very slightly but is still hovering around it’s all time lows. All of the key indicators have remained pretty steady but this could change soon as the seasonal buyers are in the process of Migrating back home. I estimate that about half have left already with the other half leaving by mid-May. There are plenty of rumors /news feeds that seem to indicate that the lenders will begin to release their “shadow” inventory of foreclosed homes. If that happens, coupled with the absence of most seasonal buyers, inventory should begin to increase.

As it stands now, homes are still very difficult to come by especially at a price that will meet appraisal. It is almost impossible to find homes for under $80,000. Although it remains a Sellers Market, this could shift a bit in the coming months.

ACTIVE: 144, up from 139

SHORT SALES: 18, up from 18

FORECLOSURES: 13, stable from 12

HUD Homes: 9, up from 4 After a long period of inactivity, here has been a resurgence of HUD homes recently. As a rule, they tend to be priced about 10% below market value and receive multiple offers during the 10 day intial bidding period. For those not familiar with them, they are reserved for owner occupants only for the first 30 days and none are lasting past the intial 10 period. If this continues, it could help the inventory problem as there were over 30 of these homes available around the first of the year.

AWC (short sales with offer): 220, stable from 223

PENDING: 291, down from 306

CLOSED: 44, up from 32 This the the strongest week we have seen for closings in quite some time (except, of course, for the end of the month weeks).

RENTALS: 113, up from 108

RENTALS CLOSED: 22, stable from 22 This number has remained very strong and steady this year.

View the full report Monthly home data

I have reported in the past that there are still a large number of delinquent mortgages in Maricopa Arizona and that there is little chance that these distressed homeowners will decide to become current on their “underwater” homes. Since short sales can take 60 – 90 days or more to be successfully completed, many homeowners may be looking ahead and trying to time their sales when their children are out of school for the summer break.

Unless the lenders begin a release of their ... Read More »]]> Realty Trac just released information showing that there has been a recent resurgence in distressed homeowners turning to short sales. Although short sales have declined on a long term basis, this could signal a turning point. Short sales even outpaced bank-owned REO sales in 12 states, including Utah, California, Arizona, Florida, Indiana, Colorado, New York and New Jersey.

I have reported in the past that there are still a large number of delinquent mortgages in Maricopa Arizona and that there is little chance that these distressed homeowners will decide to become current on their “underwater” homes. Since short sales can take 60 – 90 days or more to be successfully completed, many homeowners may be looking ahead and trying to time their sales when their children are out of school for the summer break.

Unless the lenders begin a release of their “shadow” inventory, I would expect to see short sales once again become the best alternative for buyers that are looking for value but are not in a big hurry. Patience has it’s rewards!

Read the full article here: http://bit.ly/Ja6PqW