Alta Sonora Homes for Sale List
Alta Sonora Homes for Sale Currently Active
Alta Sonora Homes for Sale are available for showings. Call us at RCP and an Arizona Real Estate Agent can make it happen. Arizona homes for sale can also be searched in a customizable manner by clicking the “Search Homes for Sale” button.
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Arizona Short Sales
What are Arizona short sales and should I consider them?
Arizona short sales are like other transactions in many ways. Let’s focus on the differences between a regular real estate listing and a short sale listing.
A “Short Sale” is when a homeowner and a bank cooperate and agree to sell a piece of real estate for less than what is owed on the lien or mortgage. Usually this takes place when there is a good reason why the current owner can’t continue to make the payments or pay the difference between the mortgage and the selling price. Why would a bank take, as a payoff, anything less than what they are owed? The same reason credit card companies do, some money is better than less money down the road. If a bank were to say no to a Arizona short sale and decide to play hardball, their only other recourse would be foreclosure. This would mean:
1. More time not getting paid.
2. A house that is empty and not being taken care of and possibly vandalized.
3. Lawyer and trustee fees
4. Holding cost to upkeep the property
5. Closing costs, and they still need to pay the Realtors, title agencies, cleanup crews, rehab costs, etc.
Arizona short sales can be a big no-brainier for banks, however, some banks get the concept better than others and try to streamline the process. While other banks bury their head in the sand and foreclose. Obviously, we don’t see the entire picture. I’m sure banks have their reasons for not doing Arizona short sales. Even with streamlining, short sales can take months to get approved as the bank must qualify the seller for the short sales, approve the asking price by getting an appraisal, and dot all the I’s and cross the T’s. Not all Arizona short sale agents are the same. Call us at RCP.
Central Arizona Real Estate
Central Arizona Real Estate Facts
Central Arizona real estate is some of the most desirable real estate in the world. The Phoenix metro area is broken down into two major areas: the West valley and the East valley. The East valley is comprised of Tempe, Mesa, Chandler, Ahwatukee, Apache Junction, Sun Lakes, Apache Junction, Queen Creek, San Tan Valley. The West valley is home to Phoenix, Scottsdale, Paradise Valley, Glendale, Goodyear, Laveen, Avondale, Peoria, Surprise, Sun City, Buckeye, Cave Creek and Carefree and Fountain Hills. All the cities have their own unique features and amenities. Age restricted communities are peppered throughout the valley creating a healthy mix and diversity of central Arizona real estate choices.
The major metropolitan area lies in the West valley, whereas the East valley was predominantly farmland converted to homes by urban sprawl over the years. Values in the Greater Phoenix metro area have a long history of rising and falling real estate values. When to buy in Arizona is a personal decision and watching the trends and cycles can give a good indicator of where we are headed. Arizona real estate is very desirable to non-residents as well, with a steady influx of new people moving from colder and less desirable states in terms of weather. Canadian citizens also seem to flock to Central Arizona real estate in search of summer homes and investment properties.
Scottsdale Real Estate Trends and Factors Effecting Value
Scottsdale Real Estate Trends and Factors Effecting Supply and Demand
Scottsdale real estate trends & factors– this is a big topic, but we would like to touch on a few factors less talked about. Some of the major factors we see effecting Arizona real estate are:
Canadian buyers– when the Canadian dollar is strong in relation to the US dollar, the demand for Arizona homes will increase, supply then goes down, and Scottsdale real estate prices rise.
Snowbirds– the concept is similar as the Canadians, however, as more Baby Boomers retire, they seek out Scottsdale Arizona real estate due to the inviting weather.
Interest Rates– When interest rates fall more people can afford a house. The more people that can afford houses, the more houses are sold and the values go up.
US Dollar Strength in the World Market– this can effect Scottsdale real estate. As inflation goes up, the more people are paying for gas and food and the less money they have to put toward a real estate purchase or a mortgage. This means less buyers and the prices of real estate trends down. On the other hand, you have the devaluing of the dollar. As an alternative to holding stocks, that may be artificially inflated, people turn to gold, silver, or other real commodities like real estate. This can create more buyers and drive the prices down. Looking at these factors can help illustrate how the low income families will be able to afford less and not be able to buy real estate, while at the same time, the more affluent, who aren’t as effected by gas and food prices tend to buy more real estate to protect themselves against a devaluing dollar. In summation, we tend to see more investors and less owner occupants as the dollar loses value. When the dollar is gaining in value the opposite happens.
Here at RCP we watch the trends. We can help you in your next real estate purchase.