Real Estate values up the most in over 6 years

Not only have home values in the US gone up the most in 6 years, Arizona real estate increased the most. 

Home prices when up 8.3% from Dec 2012 over Dec 2011 which was the largest increase since May '06.  Values improved last year in 46 of the 50 states.  Arizona increased an average of 20.2%.

Arizona does not have many properties on the market and many are selling in just days.  Many seller's are trying to take advantage of the increase in values as well as the low inventory and asking higher prices.  You need a Realtor specializing in many neighborhoods and able to help you determine the real market value before you make an offer.

Many economists expect values to continue to rise this year for previously owned homes.  New home builders are getting more confidence in breaking ground and started more homes in 2012 than in the last 4 years.

Assisting the housing markets improvement are the low interest rates and job growth throughout the country. 

RooPho Realty covers the entire Metro Phoenix real estate market.  Contact Chris@RooPhoRealty.com for more information on the market and the area you want to live.

Madison Place Townhomes

Madison Place started building again.  I don't have current prices but this community was started in 2008 just when the market started to crash.  The developer stopped building and reccently started up again. 

They have a great location just north of Camelback on 16th Street. 

They have 1 bedrooms + den and a 2 bedroom townhomes.  They have very nice standard features such as upgarded cabinets and granite counters, upgrade carpet and some wood floors.  Check out Madison Place on my website for some pictures and call me for more information.

Short Sales are selling more than Bank Owned Properties

If you're in a distressed situation with your mortgage, meaning you own more than it's worth and your payments have gone up, you may benefit from short selling your home instead of letting the bank foreclose.

Banks have finally realized approving a short sale is better for both them and the home owner.  In the past year, banks have been approving short sales much faster and willing to negotiate a little better than previously. 

Approved short sales have gone up 65% over the past year nation wide and is expected to continue. 

If your property is in the foreclosure process and you're not sure what to do, Contact me and we can discuss your options.

Chris@RooPhoRealty.com or www.AZNativeProperties.com
602-224-0554