Phoenix, Foreclosure Real Estate Statistics

THE FAT LADY HAS SUNG AND SHE IS HEADED TO THE NEAREST
CHINESE BUFFET

Phoenix, AZ Bank Foreclosures
Phoenix Bank Foreclosures
Bank-owned foreclosure properties accounted for 65.6% of the sales in February 2009! WOW 65%!! Not sure about you, but this HAS to mean these are smoking deals and people do not want to miss out on the opportunity. Many people are under the impression that these homes are being purchased by large investment companies with fat pockets paying cash. This is NOT true!! Banks are lending money to buy bank foreclosures! TAKE ADVANTAGE OF THE FHA/VA Bank foreclosure lending options right now! 30% of the sales were with FHA or VA financing. You have the opportunity to receive a HUGE $8,000 refundable tax credit (or up to 10 percent of the purchase price) for first-time homebuyers


We have seen a huge shift in the numbers of Days on Market for Arizona Foreclosures. Fact being Phoenix Bank Owned homes are selling FAST!!! Average DOM is 80 days!
Pending sales are at the HIGHEST level they have been since 2005!! Now tell me this is not a flippin’ buyer’s market! HAHA IN YOUR FACE I WILL SAY! (In a totally nice way of course!) Arizona Foreclosures are selling at rapid speed escalating what I have been trying to tell you is a buyers market! The pending sales for this year ARE HIGHER than 2008, 2007, and 2006. Phoenix Foreclosures are selling at the speed of 2005 levels, except that prices are MUCH lower. (YOU ARE WAITING FOR WHAT??) Again, TELL ME THIS IS NOT A BUYER’S MARKET! I will send you the graphs to prove otherwise! (And then laugh in your face! This time probably not as nice but more out of pity for those, “Waiting”) As of TODAY! There are 10,750 properties under contract, WOW!


Not only are the number of pending sales, enough to make your grandmother shake her booty like Beyonce’, but the price per square footage averages at $89.00 per square foot!! This is THE LOWEST PRICE PER SQUARE FOOT SINCE 2000!!!!! Now you fear the HAHA in your face!
These numbers make me think only ONE THING! The fat lady has officially sung, and she is headed to the ALL YOU CAN EAT BUFFET! Her job is done!


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