Unbelievable things happening in the world of real estate!

The Phoenix, Scottsdale, Valley of the Sun real estate market is HOT!

Ever since the Wall street Journal put out the article that says Phoenix Leads the Way in Housing Market Recovery there has been a tremendous rush of buyers coming to our market and buying!

There are 5 cities that closed more homes in March than they have in current active inventory! (Avondale, Chandler, Gilbert, Glendale, and Tempe)

I repeat, there are 5 cities that closed more homes in March than they have in current active inventory! (Avondale, Chandler, Gilbert, Glendale, andTempe)

Phoenix was close closing 2087 homes with a current active inventory of 2181 homes!!

Scottsdale has only 12 fewer listings than Phoenix! Mostly due to the higher price pointsin Scottsdale!

Builders are not able to ramp up construction until the banks loosen their lending guidelines so there will not be enough new inventory coming from them to fix this problem.

If the banks are sitting on foreclosures or potential foreclosures then now is the time to bring them to market in The Greater Phoenix Area!

One more thing also is the Mortgage Debt relief act is over at the end of this year! The bill is up for renewal but current polls show it has only a 9% chance of passing! This will have serious ramifications on short sales and foreclosures! This is not the time to be sitting on the fence. List your properties now!

Maricopa County closed 7,858 properties in March. 1,685 were REO which is 21%, 2034 were Short Sales at 26% and the rest were normal transactions at 4,139 which is 53%.Active listings in Maricopa County are at 11,268 which is made up of only 1,102 REO at 10%, 1023 are Short Sales at 9% and the rest are normal at 9,143 or 81%. The problems still are in the pending numbers. 18,056 are awc orpending. 2,050 are REO at 11% and 5,534 are normal at 31% and the rest are Short Sales at 10,472 or 58%! Come on Banks, Get those closed!