Foreclosures are selling rapidly in Phoenix right now. The word is definitely out that Phoenix is a bargain and buyers are coming in strong from California and Canada to pick up the deals. The number of buyers in the west valley is up over 400% since January. Anything under 300k is moving rapidly. Of the last 10 deals that we negotiated under 300k, 8 out of 10 had multiple bidders. When there are multiple bidders on a house the successful buyer is usually the one who puts in an offer just under asking price. If you are putting an offer on a foreclosure you need to be realistic in your purchase price. If you are lucky enough to be the only bidder, it is rare to get more than 10-12% off list price. Usually the banks will negotiate up to 10% off list price. In order to get that 10% they want a cash purchase with a close date as fast as possible (my last foreclosure deal closed in 10 days!).
Let us help you find a great foreclosure and jump on it. We know how to successfully negotiate with the banks to lock in the deal. It is the opportunity of a lifetime.
Marc Brodeur, Realtor
www.ThePhoenixExperts.com
1-800-300-0263
