Waterfront bank owned and short sale properties in the Phoenix area

Waterfront Bank Owned Homes and Short Sales in Phoenix

Distressed Sales as a percentage of total sales by city – June 2009june-2009-distressed-sales-as-a-percentage-of-sales-by-city

In the current environment, if you talk about Phoenix real estate,  bank owned and short sale properties must be part of the conversation, and this has obviously impacted waterfront homes and lake community properties throughout the valley.  The differences between these two types of distressed properties are significant, but both represent opportunities for those looking for homes at below market prices.  In the majority of cities in the valley, bank owned (REO) and short sales represent the majority of the sales.   The chart to the left shows the bank owned homes and short sales as a percentage of total sales for the month of June 2009 by city. Continue reading “Waterfront bank owned and short sale properties in the Phoenix area”