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Phoenix Real Estate Market – August 2011
(Video Report: Phoenix Real Estate Market – August 2011) July has 8,377 closed transactions as of 8/1/2011. Of those 3,597 (43%) are Bank Owned and 1,991 (24%) are Short Sales. The percentage of distressed sales continues in the 2 out of 3 range. July 2011 had the 4 highest number of homes sold compared to…
MARS Update – July 2011
Big news on the MARS Short Sale front this week, both from the ADRE and the FTC. We’ll probably hear more from ADRE once the Federal announcement gets digested. Here’s an excerpt from the ADRE bulletin earlier this week. Here’s what the FTC had to say. So what do these announcements mean to the agents negotiating short…
Freddie Mac Short Sale Addendum
Have you seen the changes made to the required Freddie Mac Short Sale Addendum? They’ve recently added three “agents/parties”; seller’s agent, buyer’s agent, and escrow closing agent. All three are required signatories to the addendum. Previously the buyer and seller had to acknowledge and agree to things like; it’s an arm’s length transaction, there are…
Phoenix Foreclosure Market – June 2011
The Information Market released their greater Maricopa County foreclosure statistics for May 2011. Although April’s numbers were probably more newsworthy with a greater number of foreclosures completed than new notices issued, May’s numbers provide newsworthy occurrences also. It’s time to review the current Phoenix foreclosure market and identify some significant changes that have occurred since…
Phoenix Real Estate Market Report – June 2011
Once again when I ran my initial numbers for May, I was pleasantly surprised. Initial closings for the Greater Phoenix real estate market in May 2011 are 9802, which is within 88 sales of the highest May on record (2005). May 2011 is 5% over April 2011 and 7% above May 2010, which continues 2011’s…
MARS Disclosure Update – 5/4/11
Hot off the presses…all the way from MARS!! Here’s the update we’ve all been waiting for…or not? From: K. Michelle Lind, Esq. General Counsel/Asst. CEO ARIZONA ASSOCIATION OF REALTORS® It appears that we made the right call regarding advising our members to continue to comply with the MARS Rules. Below is an email that I…
Phoenix Real Estate Market Report – May 2011
April’s initial numbers show another strong month in the greater Phoenix real estate market. We had 9314 closings, # 2 April of all time, with #1 April/05 possibly in reach. The number of closings was down 7% from March/11, but up 1% from 4/10. Prices moved in a positive direction with the Average Sales Price…
Interesting Phoenix Real Estate Statistics
Recently I sat in on an ARMLS class about the Cromford Report that showed agents where to find useful Phoenix real estate statistics. It was interesting and I learned a few things and found a few reports which I’ve included here. The instructor stated that most users find their ‘favorite’ reports and always go to…
Dazed and Confused about Medical Marijuana and AZ Rental Issues?
I think this is a good article for Property Managers. Medical Marijuana & Fair Housing Update By Andrew M. Hull, Attorney at Law Arizona REALTOR® Magazine » April 2011 As many know, the hot issue of the impact of the new medical marijuana law in Arizona has many confused as to how they should proceed…
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