Approximately half of the homes for sale in Arizona are “distressed properties”, other wise known as short sales or bank foreclosures.
The average sales price for a distressed home in Arizona is about 20% below market value. The sales price typically ranges between 10% to 40% below market value!
Do not let the distressed part scare you, many of these homes are in excellent condition and are located in very desirable locations.
Most distressed property home buyers are buying due to the great deals right now. Many of these homes are selling way below the cost of replacement, which makes them a great investment.
If you are in the market for a new home or investment property, please do not hestitate to contact me.