1. Active Notices of default for residential properties as of the end of September ’11 were 22,301 units. Down from last month of 22,733. This is the 10th month in a row that we have seen decreases in the number of Active Notices. Down from the all time high of December ’09 of 47,606.
2. Foreclosures were at there all time high in March 2010 at 5,451. Residential foreclosures were 2689 last month. This was down 710 units from August.
3. The residential REO properties are sitting at 13,556 vs. last month of 14,480. Listed properties are approximately 3,053 units and pending pluse AWC sales are 3412. That tells us that there is approximately 7,091 properties that are foreclosed but not yet on the market.
The Scottsdale real estate market is turning into more of a Seller’s market than a buyer’s market. If you are considering purchasing a home in Scottsdale, act fast before the prices reverse.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260