My New Blog

Foreclosure activty for the state and Maicopa county continues to increase but thankfully buyer activity has also increased realizing the cost of homes in the Valley is back to the affordable levels of 2003 and before.

http://rismedia.com/2009-08-13/us-foreclosure-activity-increases-7-percent-in-july-realtytrac/

Sales in July dipped slightly from June numbers but supply still remains at a doable 3.5 months.  Now if we can just get some of these short sales to close escrow we will shrink this 18k plus pending property number that has been haunting the market for months now.  Speaking from personal experience I have 3 clients waiting on an answer from a bank on a home that they want to purchase via a short sale.  Unfortunately all three have been waiting at least 3 months just for an answer on whether the bank has accepted or rejected their offers.