Phoenix Foreclosures & Bank Owned Homes Dominate Market

Phoenix AZ – Taking a look at the latest statistics from the Cromford report show that the bank foreclosed homes, also known as REO’s, bank owned or lender owned homes continue to dominate the Phoenix market.

According to the Arizona Regional MLS as of January 15, 2011 there were just over 30,000 single family homes for sale and 6,000 of those listings were lender owned.  Short sales or pre-foreclosure homes made up another 9,321 listings.  Investors who have bought a foreclosed home and fixed it up or “normal sellers” came in at 10,467.  The remaining homes on the market are in the retirement communities, divorce or probate sales.

You can often get a great deal on a home by purchasing a Phoenix bank repo home.  Here is a link where you can get a custom list of Phoenix foreclosures based on the price range and area you desire.  It is updated daily and gives you complete details, addresses, maps and pictures of the homes for sale:

The average home price in the Phoenix area increased 3.71% in 2010 compared to 2009. The average price of a home in 2010 was $183,040 compared to $176,245.  If you look at the charge below you will find the average home price will vary each month.  Taking a look at the number of single family homes sold in 2010 we show a 6% decrease in the number of homes sold.  In 2010 there were 75,473 homes sold versus 80,023 in 2009.  The summer of 2010 saw an unusual decrease in the number of homes sold with the month to month comparison down anywhere from 5.3% to nearly 35%.  This was an unusual as the selling / buying season in the Phoenix area is usually March through October.  Taking a look at ahead at 2011 we are off to a moderate start 8,069 homes pending as of January 15th.

Donald Keys is a professional REALTOR.  If you are thinking about buying, investing or selling a home, give him a call at 602-750-1744 for a free consultation.  Owe more money than your home is worth? Struggling to make payments, Donald is a certified Short Sale and Foreclosure resource that can help call today.  Visit for more Phoenix real estate information.


Average Phoenix Home Prices Rise 3.23% in one month!

Phoenix, AZ – According to the Arizona Regional MLS the average home price in the Phoenix area rose 3.23% comparing May 2010 to June 2010.
Fireworks over Phoenix and home prices were exploding as June saw an increase of 3.23% in the average sales price over the prior month to $188,568. This is 14% higher than our low of $165,298 back in March of 2009.  This is good news for Sellers as the bank owned properties are decreasing in the market.  However Sellers do need to be cautious as more Short Sale properties enter the market and increase competition.  Buyers who are waiting for prices to drop need to be alert as to the trends. For buyers who are waiting for prices to drop, this trend shows that for the past 6 months, average prices have been higher than our 36-month low in 2009. Investors and savvy buyers continue to understand the value the current market offers. Combined with the current interest rates and financing options available to them, they are making decisions that have allowed them to take advantage of the affordability the current market continues to provide.

If you are thinking about buying a home in the Phoenix area
or selling a home in the Phoenix area contact:


Phoenix Average Home Sales Price June 2010 36month Trend


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Phoenix Homes with Pools

Diving Pool Phoenix AZ

Phoenix AZ – The high temperature this time of year is often 110 degrees or more in Phoenix, AZ and the number one request I receive from home buyers is a home with a pool!  The challenge is homes with pools often sell very fast in the Phoenix market and buyers need to be prepared to jump on a great deal when they see it.

In order to make looking for a home for sale with a private pool in Phoenix, I have created a very special website that contains nothing but homes for sale with pools.  It is a “LIVE” website and is updated constantly.  If you or anyone you know is looking to buy a home with a pool have them check out this site:

There are homes for sale with diving pools, play pools, fenced pools, PebbleTec pools, and every other type of pool you can think of.  The homes are located in Phoenix, Peoria, Glendale, Surprise, Goodyear, Avondale, Tolleson, Waddell, Anthem, Carefree, Cave Creek, Scottsdale, Mesa, Tempe, Chandler, Gilbert and all of the other cities in the Phoenix Metro Area.  Enjoy this website and happy home hunting.