Sedona, AZ: The Sedona real estate market continues to have its' share of foreclosures and short sales according to Realtor Barbara Baker. Since January, 40% of the sold homes were either a foreclosure or a short sale and, of the homes currently under contract, half are either foreclosures or short sales.
Even more interesting, according to Baker, the fact that out of the current active market only 20% of the listings are either a foreclosure or a short sale. “That tells me the consumer is targeting those properties. We are starting to see even bigger discounts in the foreclosure and short sale pricing,” said Baker.
Baker observes that lenders are starting to dump the foreclosures off their books at a greater speed and sellers in a short sale position are dropping their prices to entice a buyer to hang in there for the long, arduous process of dealing with a short sale.
“With low interest rates, consumer confidence starting to return, and high seller motivation, the current market in Sedona continues to be a great time to buy,” Baker advises.
About Sedona Realtor Barbara Baker:
Barbara Baker specializes in representing clients in the purchase and sale of single-family residences, real estate investments, income property, and commercial ventures in Sedona and the Verde Valley. This includes Sedona, Rimrock, Clarkdale, Camp Verde, Cottonwood, Lake Montezuma, Cornville and Page Springs.
For more information or to request a private preview of Sedona homes for sale, call 800-975-5943, email barbara@barbarabaker.com, or visit www.barbarabaker.com.
Article contributed by Barbara Baker.
Posted May 26, 2009.
