Your Source for Fountain Hills News and Real Estate Information: Fountain Hills Home Sales Show Fewer Distressed Properties

Wednesday, September 26, 2012

Fountain Hills Home Sales Show Fewer Distressed Properties

The weather may be cooling off, but home sales in Fountain Hills are heating up! Best of all, we are seeing fewer short sales and foreclosures in the market. Also, the ratio of short sales to foreclosures shows a sharp decline in foreclosures.

Here's how the Fountain Hills and Scottsdale, AZ distressed property ratios looked as of July 31, 2012:

Zip code 85268 - short sales 14% of home sales; foreclosures 5%
Zip code 85259 - short sales 16% of home sales; foreclosures 3%
Zip code 85255 - short sales 18% of home sales; foreclosures 2%
Zip code 85268 - short sales 31% of home sales; foreclosures 5%

When considering the impact of distressed home sales, short sales are the lesser of two evils, because these sales are conducted using current fair market value.This preserves the market value of nearby homes. Foreclosures are often sold at a discount from fair market value, which can pull down values of surrounding homes.

Nationally, we are seeing a brighter picture across the board. HousingWire reports that nearly 2.5 million distressed homes will be removed from the "shadow inventory" during 2012. There is also good news from Lender Processing Services, which reports that mortgage delinquencies are down by 30% since the peak of the housing crisis in 2010.

If you're still uncertain about buying or selling a home in today's market, keep this in mind: short and foreclosures are a part of any housing market, even in the most robust economies. Waiting for these categories to "disappear" before you buy or sell a home isn't a realistic strategy.

For the latest Fountain Hills home sales data and market activity, contact me! I have over 30 years of experience in Fountain Hills real estate which will be your advantage when buying or selling a home!

Whether you are relocating to Arizona or you are already a resident of our sunny state, I can help you make the most of today's opportunities!

Tina Nabers
Nabers Property Management & Real Estate
Check Out My Website
See Homes for Sale in Fountain Hills
Become a Fan on Facebook
Find Out More About Investing on Facebook
Connect With Me on LinkedIn
Contact Me

1 comment:

UnknownOctober 20, 2012 at 2:38 AM
This being said, we can still expect seasonal norms to affect Fountain Hills real estate in upcoming months, though any pullback in sales should be modest. nabers
ReplyDelete
Replies

Add comment

..............................

Hi, my name is Tina Nabers. Selling Real Estate in Fountain Hills is not a job for me, it's a lifestyle. I relocated with my family from Tempe, Arizona in 1973 and began working in what is now the oldest real estate office in Fountain Hills (Nabers Realty) in 1977. I have literally grown up in Fountain Hills since it began.

I am a full time Realtor and believe ongoing education is key to staying on top of the dynamics of the real estate industry. Besides taking the required 24 hours of education every 2 years, I like to take additional real estate classes to further expand my awareness of the changes occurring yearly in this industry. I currently hold the designations of Accredited Buyer Representative, Graduate of the Realtor Institute and have my e-Pro designation which is the National Association of Realtors Technology Certification Program.

With my dedication, knowledge and reliability, I have assisted hundreds of Buyers, Sellers, and Investors realizing their dream of owning real estate in Fountain Hills. I'm sure I can help you too! I know the market and the market trends, after all, I've lived thru a couple of them myself over the years! THIS IS THE BEST PLACE TO LIVE, WORK & PLAY. I know because I do!

View My Complete Profile

..............................

Nabers Property Management & Real Estate is a full service real estate company with over 30 years of experience serving the community of Fountain Hills, Arizona. Conveniently located in the center of town, we invite you to stop by our office and introduce yourself. We are members of the Scottsdale Association of Realtors, Arizona Association of Realtors, National Association of Realtors and the Multiple Listing Service.

Whether you are a first-time buyer, property owner or investor, long term tenant or a visitor looking for a seasonal rental, Nabers Property Management & Real Estate Company can assist you with all your real estate needs.

..............................

Fountain Hills has been well known for its Fountain, its Great Fair, its Fountain Festival, its magnificent mountain views and very friendly people. Back in 1993 it was voted as one of the "50 Fabulous Places to Raise Your Family" and was featured on Oprah. After that review the community quickly became both a vacation Mecca as well as a place for permanent settlement. Accommodations from resort condos, bed & breakfasts and full service hotels have attracted vacationers as well as home hunters and investors. In the May, 2006 issue of the Phoenix Magazine's Annual "Best Places to Live" in the Valley, Fountain Hills was voted #1 out of 22 Valley communities!!

It was based on such issues as property tax rate, population, crime, school test scores and student-teacher ratios, park acreage and miles to Sky Harbor Airport, to name a few. When asked by visitors if Fountain Hills is a nice place to live we suggest they go to any local grocery or retail shop and at random, ask any shopper the same question. Obviously, residents will give the most objective answer and, as we can corroborate, we feel it is "one of the best places to raise a family", live, work and play.... Read more about Fountain Hills!