August left with a bang as Bullhead City Arizona welcomed the biggest storm in 5 years.  Residents in Bullhead City experienced buckets of rain, brilliant lightening and earth shaking thunder even hail was reported along with strong winds opened up Saturday the 28^th.  The storm opened up half way through the annual high school foot ball game.  Although the two local schools play in different divisions River Valley High School, their yearly scrimmage is the most attended game of the season.  The storm was so quick and intense that the game was called.  With street lights out, and waters raging the excited youthful fans took shelter and enjoyed “Mother Nature’s” show.  The fans return to the Mohave High School stands the following night to watch the rest of the game under a gentle sky.  For those interested, the final score was Mohave High 17 River Valley 7.

 Well the Bullhead City, Fort Mohave and Mohave Valley   Arizona real estate market is also weathering  its own storm rather well considering the monsoon of foreclosure that have been blowing into town.  Foreclosure sales increased during August to 65% of the market.  This is the second time this year the percentage has been this high.  August was better than July for homeowners trying to avoid foreclosure as short sales claimed 16% of the sales.  This is the highest amount of short sale closing we have seen this year.  This is directly related to the fact that the banks are now geared up to successfully process the transactions .  

Single family home sales were down slightly with the local MLS reporting 79 closing for August 2010. Traditionally the 3^rd quarter has the most home sales.  Following in line with the news reports, the tax credit is the main reason that the sales are showing short.  With the number of sales winding down,  the first quarter for 2010 will likely be the winner for most home sales.  

Graph Bullhead City City Arizona third quarter Home sales

As always we are focused on your real estate success. 

Michael and Petra Fahey, CLHMS, CDPE  CNE, SFR                              

Country Ranch Realty

1858 Hwy 95
Bullhead City, AZ 86442
928-763-3363
928-758-8811 office
888-511-0218 fax

petra@teamfahey.com
www.teamfahey.com
www.countryranchrealty.com

By the way, do you know anyone worried about foreclosure?  As  a Certified Distressed Property Expert I may be able to help them avoid foreclosure. There is a huge difference between life after foreclosure and life without foreclosure.  Please have your friends contact us.