Happy Monday!
As this is the first of the month, ARMLS (Arizona Regional Multiple Listing System) has published a report which shows the distressed property supply within our market. In Gilbert (85297) there were 71 short sales (52%) of our marketplace and 11 (8%) foreclosures which leaves (40%) to traditional sales.
For buyers in the market now this represents a great opportunity! Due to a large supply of short sales, we are able to get properties at a discount with the 40% traditional sales quickly raising property vales. This is part of the reason that areas like Power Ranch have risen 14% this last year in value. The other reason for an increase in property values is the decreased supply. In Maricopa & Pinal counties last year we had 36,000 homes for sale and currently we show 10,182 single family homes actively for sale.
Here is a link to the full report for both Maricopa & Pinal:
http://www.armls.com/statistics/distressed-property-report/june-2012-distressed-property-report
Email me to find out what your home is currently worth! Odds are in your favor! I am likely working with a buyer right now who wants your home!
-Chelsea
Keller Williams Realty East Valley
chelseakwaz@gmail.com
chelsea@liveinpowerranch.com
http://www.liveinpowerranch.com
As this is the first of the month, ARMLS (Arizona Regional Multiple Listing System) has published a report which shows the distressed property supply within our market. In Gilbert (85297) there were 71 short sales (52%) of our marketplace and 11 (8%) foreclosures which leaves (40%) to traditional sales.
For buyers in the market now this represents a great opportunity! Due to a large supply of short sales, we are able to get properties at a discount with the 40% traditional sales quickly raising property vales. This is part of the reason that areas like Power Ranch have risen 14% this last year in value. The other reason for an increase in property values is the decreased supply. In Maricopa & Pinal counties last year we had 36,000 homes for sale and currently we show 10,182 single family homes actively for sale.
Here is a link to the full report for both Maricopa & Pinal:
http://www.armls.com/statistics/distressed-property-report/june-2012-distressed-property-report
Email me to find out what your home is currently worth! Odds are in your favor! I am likely working with a buyer right now who wants your home!
-Chelsea
Keller Williams Realty East Valley
chelseakwaz@gmail.com
chelsea@liveinpowerranch.com
http://www.liveinpowerranch.com
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