Realty Reality Blog

Scottsdale, Arizona is starting to be more affected by the recent trend of bank foreclosures and short sales.  At first, it was the outlying areas that were over-built in 2005 and 2006.  Places like Buckeye, Goodyear, Maricopa, Chandler and Queen Creek.  Slowly but surely though, the trend has reached the more affluent part of town.  Yes, Scottsdale. 

Bad News:  People were buying up Scottsdale Real Estate like there was no tomorrow.  Appraisals were out the window on properties with multiple over-priced offers.  Did it matter that they had little or no down payment?  No.  Did it matter that they were entering into adjustable rate mortgages that were frequently interest only and adjusting in 3 to 5 years? No.  Did it matter what their income was? Many times, the answer was No.  No documentation. Stated income.  Add all of those sceneries up and you now have what has taken a few years to fully develop.  The inevitable down-turn of the Scottsdale Real Estate market.

Good News:  For those who have wanted to buy a home in Scottsdale but couldn't afford it previously, many can now.  Who wouldn't want to live where the crime is statistically lower than Maricopa County or Arizona in general?  Or where the best schools are.  And, of course, the best shopping and restaurants.  Or for the out-of-towners who come to Scottsdale to play golf.  It's a buyers market right now.  If you've got the money, Scottsdale's got the place!  Condo's, townhomes, single family homes.  As of the date of this blog, there are over 700 properties for sale in Scottsdale under $200, 00!  Crazy!

Better News:  Call Colleen Lynch with CLA Realty 1-800-985-3672.  She's an experienced Scottsdale Real Estate Agent who can help you find the perfect home for your budget.  You can also search the MLS for FREE by clicking here: http://www.homeisaz.com/search-mls.html