Do Foreclosures Rule the Market in Desert Mountain?

One of my clients asked me why I blog about the foreclosure properties in Desert Mountain so often. Well the fact of the matter is that the foreclosures “rule the market” right now. Any home for sale is in significant competition with the current foreclosures.  The foreclosure homes are often priced at less than current market. As a result, as each one is sold they are pushing the market pricing lower and lower.

Many Sellers will quickly assert that their lovely home can never be compared to an ugly foreclosure. They assume all foreclosures are abused and distressed properties. There are however many foreclosures that are in perfect move in condition. I have seen several in Desert Mountain just in the last few weeks. Some are brand new spec homes which have never been lived in. Others are homes that have been lived in but require only minor cosmetic repairs. It is difficult for any Seller to compete with foreclosure pricing unless they have owned the home for a long time and still have equity in their homes.

There are many stories in the media about how homeowners will trash their homes during a foreclosure. To be frank, the typical owner in Desert Mountain is not the type of person who punches holes in the walls during the foreclosure process. I suspect that most Desert Mountain foreclosures are due to a dip in the homeowner’s financial portfolio so they let their million dollar vacation home slip away. North Scottsdale foreclosures are in general in much better overall condition than the foreclosures I have seen in other areas of the valley.

If you would like to view any properties for sale in Desert Mountain please contact me. I would be happy to show you any homes for sale in Scottsdale. I specialize in selling properties in the high end communities of Scottsdale including Desert Mountain, Troon, Mirabel, Desert Highlands and others.