JUNE was an unbelievable month in REAL ESTATE here in AZ... We have been consistently hearing and seeing articles on how the Bank Owned homes are not being released to the market. The JUNE 2011 Cromford REPORT reinstated this fact with this headline:
"Foreclosure activity declining and active REO inventory is at the lowest level for several years". WOW and still 400+ foreclsoures daily... WHERE IS THE INVENTORY... ??
What a true statement!! More and More on a daily basis there are BID WARS, like 2010! My partner, Gabriel Ostrovsky and I were calling on homes last week and a Surprise home (Bank Owned) was on the market for 4 days had 12 Offers, yes I said 12 that is NOT a typo! .....
Maricopa County also had the HIGHEST month of closings in JUNE 2011 as well. Our brokerage, Green Street Realty, alone closed 66 transactions and my partner and I closed 14, ending a spectacular month!
It is still a buyers market, between prices being so low and interest rates so low as well still less than 5%!
Between the Mortgage Debt Relief Act expiring in December 2012 and the low inventory, Sellers should be contacting their area short sale specialist, EZSHORTSALEOPTION.com for a FREE Short Sale Consultation to get their home on the Market before the Protection laws VANISH! This way the buyers can buy and the sellers can work on their credit and TEAM up with us to help them get into a NEW home sooner than the later!
DONT HESITATE TO CALL WITH ANY QUESTIONS!!!
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