With number of current single family home listings, in the metro Phoenix area at a 5 year low of 14,289, we should see an increase in prices as early as 2nd quarter of 2012.  The Phoenix area had 85,474 closed single family homes in 2011.  This means the current market only has 60 days of inventory,the ideal market is 90 days.  With very little new building permits, the expiration of the short sale/forclosure relief on December 31, 2012 we could see far too few listings in 2013.  That means if you haven’t purchased your investment property, now may be your last chance.  Currently high rents keep long term investments a relative no-brainer in the Phoenix area.  Estimations are that out of all properties purchased in 2011, 60% were by investors.  Currently my clients can expect 12-20% returns on their investments.  Its these numbers that have driven our market the past three years, but things are about to change.  Don’t wait on the sidelines in 2012, you may find yourself wishing you acted.  “Opportunity does not knock, it presents itself when you beat down the door” – Kyle Chandler

See this article on short sales vs foreclosures: short sale vs foreclosure

Prices are estimates and could be higher or lower based upon many variables we do not have control over.  Investing in real estate involves risk and buyers should discuss their options prior to purchasing property.

I wrote this document for my buyers to share with them the “behind the scenes” differences of a foreclosure and short sale.  I also include a “myth” section….I’m just a little tired of hearing people tell me what they read on the internet or what their next door neighbors, cousins, best friend knows about short sales or foreclosures.  The buyers who have read this told me how much they appreciated the information.  I was pleasently surprised, because it’s written like I talk, fast and direct.  Its been their aplications of this knowledge that has helped them search for their dream home much more focused and successful.  I hope you also find it very informative. 

short sale vs foreclosure