We Can Help You Understand All Your Options, And How We Can Help.

In today’s real estate market, be it Scottsdale, Phoenix, or any city in the United States, for that matter, you may find yourself owing more on your home than it is worth. If that is the case, we can help.
There are many options that you can take, and each of them, like anything in this life, have an affect on you after you take the action. Some of the solutions that you can take, are short term fixes, and some have a long term negative effect on you.

How Do Foreclosure Listing Vs Sold Foreclosures Change My Home Value?

When it comes to the current market in Scottsdale, Az. or the entire country for that matter, it is getting harder and harder to find a neighborhood, that has not been affected by foreclosures. When it comes to foreclosures, it does make a difference, how many foreclosures there are in your neighborhood, and how many have sold, in your neighborhood. There are also Short Sales, and Bank Owned, properties that have an affect of your homes value, in Scottsdale and the entire valley. In order to understand things better, it helps to understand the terminology first.

First, lets talk about Short Sales, and what they are. A short sale in the most basic sense, is when a seller is selling a property for less money than is owed to the bank for that property. The main part of the sale is basically the same as any sale. The main difference in a short sale, is that the bank is the one to approve the amount and terms for the sale, and not the seller who has been making the payments to the bank. The seller needs to sign all the contracts, as in a normal sale, with the addition of a few extra forms, that have to do with the short sale. The bank will then go through their process, and in the end, they will approve the short sale, or they will respond with the equivalent of a counter offer. If the counter offer is acceptable to all parties, then the sale is completed. If you have any further questions about a short sale, you can visit the following link, Short Sale Info.

Now, let’s talk about Pre-Foreclosure sales. This is basically where the seller has been notified by the bank that they have started foreclosure proceedings. There will be a date set for the foreclosure sale in the tax records. The home owner in this case will be trying to sell the home to satisfy the lender, prior to the lender foreclosing on the property. In the case of a pre-foreclosure sale, the amount that the seller is trying to sell the home for, will need to be a market value price, or the home will never sell, and the bank will foreclose. If the seller owes more on the home than the home is worth, then they should be doing a short sale, and not wasting their time with a pre foreclosure sale listing.

Ok, now we can talk about Bank Owned Property for sale. When you come across a sign, or listing that states that it is bank owned. This is when the bank has already foreclosed on the property, and the property did not sell at the foreclosure sale, and the bank has taken possession of the property. In a bank owned sale, the bank will not fix anything, or give any warranties as to the condition of the property. They will not provide you with any information as to the previous owner, and you are basically getting what you see, and what you don’t see. In the case of a bank owned property, you may be getting more than you can see with the property. If the previous owner was of a mind to, they could have damaged the property in a way that is not ready seen by the buyer, and will not show up until after the new owner has closed and moved in to the home. Always have complete inspections done on the property, before you become the owner of all the problems that come with the home.

Now that we have an understanding of terminology, we can proceed with how all this affect the bottom line of your homes value in today’s Scottsdale real estate market. When we look at the local MLS for the city of Scottsdale, AZ. there are currently 3,102 Active listings. When you look at the active listing number, 1,001 of the 3,102 are homes 1 million or more. The price range for all the listings is from 99K to 26 Million. When we break down the listings into pre-foreclosure, Short Sale, and Bank Owned, we see that there are about 33% of all the listings that fall into those areas.

To be specific, there are 219 Bank Owned active listings. The price range for those listings is from 99K to 6.5 Million. There are 32 of the 219, that are 1 Million dollars or more. There are 48 between 500K and 1 Million. When we talk about Short Sale listings, there are 647 active Short Sale listings. There are 55 that are 1 million or more. The top price short sale listing is 3.550 million. There are 176 listings that are 500K to 1 million. The overall price range for the Short Sale listings is 110K to 3.550 Million. There are 171 active listings that fall in the area of pre-foreclosure. The price range is from 119K to 3.5 Million. There are 17 that are 1 million or more. There are 38 that are 500K to 1 million.

In looking at the overall market, we see that ether are 33% of the active listings that fall into one of the three areas, pre-foreclosure, short sale, or bank owned. If we look at only the 1 million dollar or more market, we see that only 10% of that market is in one of the three areas. One could see by those numbers alone, that the million dollar priced market is not as affected by those areas, as the overall market. So it depends on what price range your home is in, as to how much its price has been affected.

When it comes to your actual property, and how it has been affected by the market, we need to consider many different things. Did you purchase your home within the last couple of years, when the market was peaking? Did you get a deal on the home when you purchased it, or did you pay full market value, at the time? Where your home is located, are there many homes that have fallen into one of the three areas, or has there been no sales in those areas? What is the condition of your home, in comparison to those that have sold in your area? All of these questions and more, are needed to be answered in order to determine how your homes value has been affected by everything that has happened in the Scottsdale real estate market.

When you find yourself wanting to determine what the value of your home is, in today’s Scottsdale real estate market, Contact Us, and we will be glad to give you real numbers, that apply to your home, and the ability for your home to be sold in today’s market. You can get a number from one of many different locations on the web, and most of them will be provided by a computer, or one of many other ways. When you contact us, you will be getting a Scottsdale real estate Brokers opinion, of the value of your Scottsdale home in today’s Scottsdale real estate market.

If you are looking for information to Buy Foreclosures, or Bank Owned properties, Contact Us, and we will be glad to help you understand exactly what you are getting, and how to get the best possible deal for you.

Home Value In Todays Market From Value My Scottsdale Home

There is one main, very important fact that we must get understood right up front. The value that a computer, or real estate agent, places on your home, can be very different from the price that your home will actually sell for. The value that a computer will place on your home, will have nothing to do with anything but the most recent sales. It will have nothing to do with what your home looks like, or the condition, or many other factors that will NOT be considered by the computer. The value that a real estate agent will give your home, will be in direct relation to a few factors. The amount of experience that the agent has, could be a big factor in how they determine your homes value. The agents ability to market your home, will have an impact on the value they place on it. If they plan on placing a sign in the front yard and calling it a day, thinking their job is done, I would not want to depend on their opinion of what my home is worth. We could go on for some time about all the pros and cons with any of the ways that have been mentioned ,so far, to get your homes value.

There is another way to get the value of your home in today’s real estate market, and that is to do what the banks do, to get the value of a property, they hire a real estate Broker. When the banks hire a real estate Broker to give them a an evaluation of the home, and it’s value in today’s real estate market, it is called a BPO, or Broker Price Opinion. When the banks are considering a Short Sale, getting a BPO is one of the main factors they use in determining what to approve the short sale for. In today’s ever changing real estate market, I would rather trust the opinion of a real estate Broker, to determine the value of my home.

When the banks get a BPO, they pay for it. The price they pay, depends on the bank and the Broker doing the BPO. Here, at Value My Scottsdale Home, you can have a professional real estate Broker, give you an evaluation of what your home is worth, and it will cost you nothing but the time it takes for the Broker to visit your home, and take some notes, and a few photos. The value that the Broker places on your home, will be a value that your home will sell for in today’s real estate market. The time it will take depends on you, the home owner. It can take as little as 15 minutes, or can take as long as you wish, depending on the questions that you might have.

There is no cost or obligation for the service, of obtaining a BPO, for your home. We are part of a full service real estate company, Az Realty Results L.L.C. in Scottsdale, AZ., and we would like to have your business, when the time comes to sell your property. We are here to provide the best possible service for all your real estate needs, in Scottsdale, and the surrounding areas, and we feel that it will show, and you will want to have our real estate company, Az Realty Results L.L.C., representing you, and that is why there is never any pressure or obligation for our services.

Visit www.AzRealtyResults.com for information on this or any other property located in the Scottsdale area.  If you are looking for the perfect blend of Custom Luxury Living, and natural desert beauty, then this is the only property for you.  Let us know when we can show this property to you. 

The sold listings were at 4,685 back in Jan of 07.  Jan of 08 they were at the lowest amount sold and that figure was 2,876.  The number of sold units has been on a pretty steady rise since then.  The highest number of sold units for the past two years was last month with a figure of 9,370 units sold for the month of June.

The nuimber of active listings is at the lowest number it has been in two years, and that number is 39,493 units for sale.  What does all these numbers mean?  It means that the market is a lot better than most people in the news would have you believe.  If you look at basic supply and demand.  When supply is down and demand is up that usually means that the price is going to go up.  I think that the prices will remain around current levels for a while just because the news media keeps reporting the news in a bad way.  All you hear is the amount of people loosing their homes, and the amount of bank owned properties on the market.

I can tell you from personal experience, that in today’s market if a house is a bargain, there are multiple offers on the property, and the property usually sells for more than the asking price.  I know that sounds like something that used to happen a couple of years ago and the news is not telling you about those sales.  But I can tell you that it is happening right here, right now. 

If you are in the position to purchase a home in today’s market, I strongly urge you to do so.  The interest rates are still very low, and the home prices are a real bargain.  I am not sure how long the values will stay down, but I do know that all the great deals are going fast.  If you have any questions or comments about this posting,  please take the time to fill out a comment.  I would be glad to hear from you. when the time is right you can reach me HERE. I hope you have a fantastic day and an even better tomorrow.

There are many things that determine your home value.

Value My Scottsdale Home is Live, and we are glad you found us. This site was created to give you a way to get the value of your home, from a licensed Real Estate Broker in Scottsdale, Arizona, and NOT, from a computer in some far away land. The real estate company behind this site is Az Realty Results L.L.C., and we are located in Scottsdale, Arizona.

The real estate market in Scottsdale, Arizona, as well as the rest of the world is always changing, and that is the reason it is always best to have your home value determined by a real estate professional, rather than a computer.

The current real estate market, in my opinion is a sellers market. The last sellers market that we had here in Arizona, was back in 2005-2006. In that market the home prices seem to be rising on an almost minute by minute basis. Buyers and investors were putting contracts on homes with the hope they could acquire a property. The thought behind the purpose for many buying in that period was that they could wait a few months and sell the property for a profit. That was going along great, until the media had said enough times, that there was a bubble, and it was going to break. When people started to believe that it was just like playing musical chairs, only this time when the music stopped, there were a lot of people stuck with homes that they could not afford to pay for.

The end result is what we have been experiencing for the last year or two, depending on how you look at things. Well, the market again is a sellers market, in my opinion. The main difference, and a big one, is that this time the sellers are not home owners and home builders, no this time the sellers are the banks. The banks have taken on a new role, as a seller, and the main difference, and also a big one, is that they are not selling for a profit, they are selling at a big loss.

The banks are controlling the price on short sale home sales, as well as bank owned properties that have been foreclosed on. There are multiple offers on almost every bank owned property that is on the market today. Most of the properties, if not all, are selling for more than list price, with multiple counter offers being the norm, before any of these bank owned homes are sold.

Why am I talking so much about the past real estate market, and the current market, and all the bank owned properties, because a computer telling you what your home is worth can not figure all this out. The banks use a local Real Estate Broker to determine the value of a property. That evaluation is called a BPO, or Broker Price Opinion. The banks will have at least one BPO done before they ever consider negotiating a short sale. So the reason I gave you the market history and current conditions of the market was to explain the importance of a professional Real Estate Broker in today’s market. It is really the Real Estate Broker who is setting the price in today’s real estate market.

When you request a home value report from Value My Scottsdale Home, you are getting the answer to your question of, “How much is my house worth?” answered by a Real Estate Broker, right here in Scottsdale. The banks pay for a BPO, and you are getting one here, completely FREE, and with no further obligation.

Why you are getting this service free? We are providing this service free, because we believe that you base very important decisions on your home value. We believe that by providing this service to you Free, will show you the level of service we are willing to perform to get your business, when the time comes to sell your property. We are here for you to answer any questions that you may have regarding the current market conditions, your home value, or any other question you have about real estate. We want to be your real estate company of choice and we are willing to do what it takes to prove it to you.

We understand that you do have a choice in the real estate company you use to buy, sell, or invest in real estate. At Az Realty Results L.L.C., we know the market and we want to know you and help in any way we can. If you would like to know how much your house is worth, in today’s market, just click on this link, House Value, or on the big box on the side of this site, fill out the information, and we will gladly send you a report on your home value, in today’s market.

We hope that we have been of service to you with this site and this post. If there is anything that you would like to know about today’ s real estate market, or your home value, be sure to get in contact with us today. We trust you will have a fantastic day, and an even better tomorrow, take care.