Sedona Real Estate Market Statistics for Tuesday 3-29-11 - What's Happening with Sedona Foreclosures & Verde Valley Forelcosures?

Sedona Real Estate Market Statistics for Tuesday 3-29-11

Lots of new listing activity. Just for grins, I thought I'd see how many are REOs (bank-owned, aka foreclosures); of the 15 properties, 12 are residential, almost half (5) are Sedona Homes for Sale ranging in price from $168,000 to $869,000. 4 are conventional sales, 1 is an REO. The other 7 listings are Verde Valley Homes for Sale, ranging in price from $54,900 to $264,900. Of those only ONE is a regular sale, the other SIX are REO's. In fact, they are all Fannie Mae HomePath properties. Looks like the "Shadow Inventory" is coming into the light. The Verde Valley Foreclosures ranged in area from Cornville AZ to Cottonwood AZ, Rimrock AZ to Camp Verde AZ.

The Sedona Foreclosure Home is a Nepenthe Townhome in West Sedona for $231,900 (no, the least expensive homes are NOT always REOs)! But they often are.

The sole 'regular sale' in the Verde Valley is a delightful custom-built Cottonwood AZ Home for Sale on 1.64 acres with mountain and some distant Red Rock views and delightful privacy for $185,000-which is a good buy, folks.

When working with buyers, they will often say they "only want to see foreclosures and short sales", thinking that's the only way to get a great buy. My point of view is-wouldn't you want to see ALL the best-priced homes that represent the best values-even if some of them ('regular' sales) are EASIER to buy? Even if you don't have to give up a large chunk of your rights as a buyer to get them?

Don't get me wrong-sometimes the best buy IS an REO or Short sale, and as a CDPE* I am qualified and have the experiece to help you navigate the intricacies of these types of sales. All I'm saying is don't be short-sighted and don't short-change yourself by overlooking well priced properties offered by individual sellers who are motivated to compete with the distressed property market.

* (I hold the Certified Distressed Property Expert designation, the most advanced training in the real estate industry for working with short sale and foreclosure properties).

New Listings15
Back on Market3
Price Increases2
Price Reductions24


Presented By: Beth Larsen / RE/MAX Sedona Phone: 928-284-2501
Information is sourced from and based upon data from the Sedona Verde Valley Association of Realtors® (SVVAR) Multiple Listing Service. It is deemed reliable for sales reported to the association, but is not guaranteed, and is subject to change. Does not contain non-MLS sales data. Market area includes Sedona, Oak Creek Canyon, Uptown Sedona, West Sedona, Red Rock Loop, Chapel, Little Horse Park, Village of Oak Creek, Big Park, Cottonwood, Cornville, Verde Santa Fe, Clarkdale, Camp Verde, Lake Montezuma, Rimrock and Jerome Arizona.
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