Short sales are all over the Arizona as we all know. Short sales pop up in all neihborhoods in all price ranges. It is no surprise though that we tend to see more short sales in what I like to call the short sale prone areas. These areas in my mind are the Phoenix area and its outskirts (Outside the 101 Loop). I tend to believe we will start seeing more and more short sales in the Scottsdale area. I know you are asking, why, Jeff, will we see more Scottsdale short sales?
- More Scottsdale Short Sales Reason 1: Scottsdale homes tend to be higher priced therefor Scottsdale short sales will have to depreciate through more equity.
- More Scottsdale Short Sales Reason 2: Purchasers of Scottsdale homes tend to have more cash reserves to save their home from becoming a Scottsdale short sale longer.
- More Scottsdale Short Sales Reason 3: Scottsdale homes tend to be be bought with a larger down payment which builds in more equity, once again, prolonging it from becoming a Scottsdale short sale.
One Comment
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