6 Trade Up Mistakes to Avoid when buying your next house

by qmichmack 7. November 2013 08:00


6 Trade Up Mistakes to Avoid

Unlike the experience of buying a first home, when you’re looking to move-up, and already own a home, there are certain factors that can complicate the situation. It’s very important for you to consider these issues before you list your home for sale. Not only is there the issue of financing to consider, but you also have to sell your present home at exactly the right time in order to avoid either the financial burden of owning two homes or, just as bad, the dilemma of having no place to live during the gap between closings.

Six Strategies

In this report, we outline the six most common mistakes homeowners make when moving to a larger home. Knowledge of these six mistakes, and the strategies to overcome them, will help you make informed choices before you put your existing home on the market.

1 Rose-colored glasses - Most of us dream of improving our lifestyle and moving to a larger home. The problem is that there's sometimes a discrepancy between our hearts and our bank accounts. You drive by a home that you fall in love with only to find that it's already sold or that it’s more than what you are willing to pay. Most homeowners get caught in this hit or miss strategy of house hunting when there's a much easier way of going about the process. For exam- ple, find out if your agent offers a Buyer Profile System or “House- hunting Service,” which takes the guesswork away and helps to put you in the home of your dreams. This type of program will cross- match your criteria with ALL avail- able homes on the market and sup- ply you with printed information on an on-going basis. A program like this helps homeowners take off their rose-colored glasses and, affordably, move into the home of their dreams.

2 Not selling first - You should plan to sell before you buy. This way you will not find yourself at a disad- vantage at the negotiating table, feel- ing pressured to accept an offer that is below-market value because you have to meet a purchase deadline. If you've already sold your home, you can buy your next one with no strings attached. If you do get a tempting offer on your home but haven't made significant headway on finding your next home, you might want to put in a contingency clause in the sale con- tract which gives you a reasonable time to find a home to buy. If the market is slow and you find your home is not selling as quickly as you anticipated, another option could be renting your home and putting it up on the market later - particularly if you are selling a smaller, starter home. You'll have to investigate the tax rules if you choose this latter option. Better still, find a way to eliminate this situation altogether by getting your agent to guarantee the sale of your present home (see point number 5 below).

3 Failing to make necessary improvements - If you want to get the best price for the home you're selling, there will certainly be things you can do to enhance it in a prospective buyer's eyes. These fix-ups don't necessarily have to be expensive. But even if you do have to make a minor investment, it will often come back to you ten-fold in the price you are able to get when you sell. It's very important that these improvements be made before you put your home on the market. If cash is tight, investigate an equity loan that you can repay on closing.

Failing to get a pre approved mortgage - Pre-approval is a very simple process that many homeowners fail to take advantage of. While it doesn't cost or obligate you to anything, pre-approval gives you a significant advantage when you put an offer on the home you want to purchase because you know exactly how much house you can afford, and you already have the green light from your lending institution. With a pre-approved mort- gage, your offer will be viewed far more favorably by a seller - some- times even if it's a little lower than another offer that's contingent on financing. Don't fail to take this important step.

Getting caught in the “Real Estate Catch 22” - Your biggest dilemma when buying and selling is deciding which to do first. Point number 3 above advises you to sell first. However there are ways to eliminate this dilemma altogether. Some agents offer a Guaranteed Sale “Trade-Up” Program that actually takes the problem away from you entirely by guaranteeing the sale of your present home before you take possession of your next one. If you find a home you wish to pur- chase and have not sold your current home yet, they will buy your home from you themselves so you can make your move free of stress and worry.

Failing to coordinate closings - With two major transactions to coordinate together with all the people involved such as mortgage experts, appraisers, lawyers, loan officers, title company representatives, home inspectors or pest inspectors the chances of mix-ups and miscommunication go up dramatically. To avoid a logistical nightmare ensure you work closely with your agent.






Are We In Another Bubble?

by qmichmack 6. August 2013 06:52

Just a few years ago, the Phoenix area was pummeled by the mortgage crisis. But now realtors and buyers are frustrated with how fast the market is recovering. The Median Sales price is up nearly 40 percent from the same time last year. 

For an idea of how strange things have gotten, consider the story of area Realtor’s that show properties new to the market and must write up an offer in the house they’re showing just be in competition to have their buyers buy it, But wait, haven't we been through this before? 

"I can think of eight reasons why it's not a bubble," says Michael Orr, a researcher with Arizona State University's W.P. Carey School of Business. First, unlike 2005, people are actually living in the homes they're buying, Orr says. Second, there aren't enough construction workers to build new houses, so oversupply won't be a problem for a while. And third:

"In the last bubble we had the availability of loans to almost anyone who could breathe," Orr says.

So, yeah, finding a house to buy is tough. But Orr says it's not time to go on bubble watch just yet.


Nine Reasons Why the Rise in Phoenix Real Estate Prices is Not a Bubble, according to Michael Orr:

1.       The population is growing much faster than the housing stock in Greater Phoenix.

2.       Prices are being driven up by a chronic lack of supply, not by excess demand.

3.       Prices are still at the same level as 9 years ago. They still have a lot of room to increase yet.

4.       Most buyers are putting their own money in with cash or large deposits, not borrowing it all from foolish lenders.

5.       Lenders are still being ultra cautious.

6.       Investors are mostly buying to rent - if and when they sell it is a neutral event for the market - one extra home becomes available and one extra family needs a home to live in.

7.       There are major long term obstacles to developer trying to increase the supply of new homes.

8.       Phoenix has a low vacancy rate both in homes for rent and for sale. Multiple generations and even multiple families are sharing single homes.

9.       No bubble has ever occurred in the same market twice in the same generation. However after a recent bubble everyone is hyper-sensitive to every price increase and numerous false cries of "bubble" are par for the course.

In our wonderful North Scottsdale market, we have all the benefits that the area offers, gorgeous communities with walking paths, community centers, shopping, restaurants, open area to keep down high density sprawl but with these benefits comes a cost to keep and maintain these specialties. The cost is a welcome trade off for what we get as residents of some of the most beautiful pristine Sonoran Desert the Southwest has to offer. Home prices are rising, for some at an alarming rate but for me as Broker/Owner of RE/MAX Platinum Living in the DC Ranch Shopping center, I see the increase as a well needed and deserved adjustment to what was an dramatic “knee jerk” reaction to an out of control market. Recent comparable home sales are now just a suggestion as opposed to gospel when trying to find the “right” asking price on a client’s home. In a recent sale in La Strada, we priced our clients home at what we thought was “pushing” the market given past comparable's but within 5 days we had 5 offers and ultimately sold the house at $1,650,000…Yes $100,000 over asking price…Yes…106% of asking price. As weird as this sounds, its not all that uncommon in our market but only if your Realtor has the ability to produce, market for and negotiate with strong buyers and buyers agents. With that said, past comparable's are important but a strong Marketing agent will use them as a bar to be raised…


Buyers in waiting list: Does the agent your interviewing have one?

by qmichmack 30. July 2013 09:56

When choosing an agent to take care of your most prized possession, you want to ask them if they have the ability to produce the leads it takes to find the right buyer for your house...

  • Do they have buyers they are currently working with?
  • Do they know how to generate buyer leads on YOUR house?
  • Do they have a team to handle the leads they get?
  • Are they equipped to "Target" market your property with their list?

These are just a few of the questions you need to ask when interviewing your next agent...check out my complete list and report on the 10 Questions You Must Ask Before You Hire a Real Estate Agent


Sellers: Don't make this marketing mistake when selling your home.

by qmichmack 30. July 2013 09:49

Hiring the RIGHT agent or team to help you sell your home should be based on results that are PROVEN!

Dont choose the agent with the "prettiest" marketing piece...choose the agent with the complete marketing and follow up system and that back it up with a guarantee. 

Our 98% approval rating from our past Sellers is a reason why we put so much effort on our 4 unique strategies:

  1. Superior Communication Skills
  2. Un-matched Negotiating techniques
  3. Specialized Knowledge of the North Scottsdale Area
  4. Homes SOLD by Jay & Michelle Macklin are sold for 3.05% higer than the Average MLS agent as well as 36 times faster than the average MLS agent. 

"Your Home SOLD For At Least 100% Of Asking Price Or We'll Pay You The Difference!*



4 Biggest Mistakes Sellers make...

by qmichmack 30. July 2013 09:42


  • Going with the agent who promises you the highest sale price, the most amount of money (even if the price seems unrealistic)
  • Choosing the agent who promises to save you money by discounting the commission rate
  • Choosing the "nicest" agent
  • Choosing an agent who works all by themselves, because you think they'll work a lot harder and give you more personal attention

For More information about what we can offer you when selling you home or for a 24 hour recorded message about how we can GUARANTEE to sell your home at 100% of asking price or we'll pay you the differecne, Call

1-800-801-2960 ID#815


Ten Ways to Virtually Guarantee a Miserable Home-Buying Experience

by qmichmack 28. July 2013 17:22

Ten Ways to Virtually Guarantee a Miserable Home-Buying Experience

(A sensational headline - meant to be "tongue in cheek" - but unfortunately, the scenarios below aren't uncommon.)

After experiencing some pretty shocking, and frustrating situations in our rather hectic Phoenix market lately, here’s my random “Top 10” list of the wrong ways to go about finding a home, and locating a GREAT agent who can assist in the buying process.

  1. Looking at hundreds of homes on sites like Zillow® and sending anonymous and repetitive inquiries to dozens of agents, expecting a “great home-buying experience”
  2. Asking any agent who responds to perform “services” for you, without the intent of at least meeting and “interviewing” them to possibly serve as your buyer’s agent
  3. Boldly asking an agent to do a CMA (comparative market analysis) on a “FSBO” home, or home with an ultra-low commission, without a written compensation agreement in place
  4. Communicating with multiple agents about specific areas without letting each of them know you’re also working other agents (okay in a large geographic area - best to let them know anyway - trust is a two-way street)
  5. Regularly visiting open houses, and leading countless agents to believe you will work with them to find a home, gleaning all sorts of great information in the process, and then never speaking to them again
  6. Providing false contact information to any agent who asks permission to contact you in the future, rather than being “upfront” about your level of interest, timeline and needs
  7. Calling the listing agent on every home you want to see, and getting upset because they don’t immediately return your calls or emails (they work for the seller)
  8. Calling the listing agent on every home you want to see, and not realizing you’re likely weakening your negotiating power
  9. Approaching sellers of homes listed in the MLS to see if they will sell to you directly, and getting upset when the homeowner won’t talk to you, and/or the listing agent finds out about it
  10. Thinking that agents are “hiding” listings from you, and then repeatedly sending them listings found on random websites - all of which are “pre-foreclosures,” already sold, pending, or do not fit the criteria you’ve provided the agent

YES, You DO Need A Buyer’s Agent!

With the exception of those who are just “curious” about the market, and not really ready, too many "serious buyers" also go through the process alone - at least right up until they find a home they're really interested in. Beyond worrying that they're going to be endlessly "touched" by dozens of aggressive agents, what is the reason for this? Answers to some common misconceptions...

  • Will they get a better deal without an agent?  - Highly unlikely.
  • Might they pay too much without an agent?  - Quite possibly, yes.
  • Will they find a home quicker?  - Probably not.
  • Are they aware of the subtle nuances of the market in specific neighborhoods?  - No.
  • Are they well-versed in real estate contracts and associated laws?  - Not usually.
  • Do they manage real estate contracts through to closing regularly?  - No.
  • Do they know there’s usually no direct cost to use a buyers agent?  - Not always.
  • Do they REALLY want to do it all alone?  - I don’t think so.

Whatever the reasons, the result is often the same... scouring the Internet and driving around for countless days, looking for listings and that elusive “good deal” (including wasting time on homes which may not be for sale). Of course, all agents expect this - it’s par for the course.

Regardless of the cause, it’s a simple fact that the majority of homes are listed for sale and marketed exclusively through a real estate brokerage (for very good reasons). Accordingly, most home buyers WILL need the services of a real estate agent at some point - yes, even the few buyers who disklike the entire real estate profession (usually because of a bad experience). Thus, in the majority of states, all home buyers should seek the services of a buyer’s agent sooner than later.

We're Here to Help - It's a Fact

Please don’t go through the home-buying experience thinking that all agents are out to pressure you into buying a home you don’t want, or couldn't care less about your interests as a client - that will likely lead to a miserable home-buying experience. Truly, it doesn't have to be that way! The fact is, the majority of buyer’s agents are well-intentioned real estate professionals who are indeed waiting this very moment to help you find and buy the perfect home.

And... I’m one of them!

Jay Macklin Owner/Broker RE/MAX Platinum Living 480-907-5097


10 Questions you MUST ask before you hire a Real Estate agent

by qmichmack 28. July 2013 15:33


10 Things You Need to Know Before You Hire an Agent

“It’s critical that you make the right decision about who will handle what is probably the single largest financial investment you will ever make.”

Not all real estate agents are the same. If you decide to seek the help of an agent when selling or buying your home, you need some good information before you make any moves.

An agent can cost or save you thousands of dollars.


Picking an agent is one of those critical issues that can cost or save you thousands of dollars. There are very specific questions you should be asking to ensure that you get the best representation for your needs. Some agents may prefer that you don’t ask these questions, because the knowledge you’ll gain from their honest answers will give you a very good idea about what outcome you can expect from using this agent. And let’s face it - in real estate, as in life - not all things are created equal.

Hiring a real estate agent is just like any hiring process - with you on the boss’s side of the desk. It’s critical that you make the right decision about who will handle what is probably the single largest financial investment you will
ever make.


What makes you different? Why should I list my home with you?

It’s a much tougher real estate market than it was a decade ago. What unique marketing plans and programs does this agent have in place to make sure that your home stands out favorably versus other competing homes? What things does this agent offer you that others don’t to help you sell your home in the least amount of time with the least amount of hassle and for the most amount of money?


What is your company’s track record and reputation in the market place?

It may seem like everywhere you look, real estate agents are boasting about being #1 for this or that, or quoting you the number of homes they’ve sold. If you’re like many homeowners, you’ve probably become immune too much of this information. After all, you ask, “Why should I care about how many homes one agent sold over another. The only thing I care about is whether they can sell my home quickly for the most amount of money.”


Well, because you want your home sold fast and for top dollar, you should be asking the agents you interview how many homes they have sold. I’m sure you will agree that success in real estate is selling homes. If one agent is selling a lot of homes where another is selling only a handful, ask yourself why this might be? What things are these two agents doing differently?


You may be surprised to know that many agents sell fewer than 10 homes a year. This volume makes it difficult for them to do full impact marketing on your home, because they can’t raise the money it takes to afford the advertising and special pro- grams to give your home a high profile. Also, at this low level, they probably can’t afford to hire an assistant, which means that they’re running around trying to do all the components of the job themselves, which means service may suffer.



What are your marketing plans for my home?

How much money does this agent spend in advertising the homes s/he lists versus the other agents you are interviewing? In what media (newspaper, magazine, TV etc.) does this agent advertise? What does s/he know about the effectiveness of one medium over the other?


What has your company sold in my area?

Agents should bring you a complete listing of both their own, and other comparable sales in your area.


Does your Broker control your advertising or do you?

If your agent is not in control of their own advertising, then your home will be competing for advertising space not only with this agent’s other listings, but also with the listings of every other agent in the broker- age.


On average, when your listings sell, how close is the selling price to the asking price?

This information is available from the Real Estate Board. Is this agent’s performance higher or lower than the board average? Their performance on this measurement will help you predict how high a price you will get for the sale of your home.


On average, how long does it take for your listings to sell?

This information is also available from the Real Estate Board. Does this agent tend to sell faster or slower than the board aver- age? Their performance on this measurement will help you predict how long your home will be on the market before it sells.


How many Buyers are you currently working with?

Obviously, the more buyers your agent is working with, the better your chances are of selling your home quickly. It will also impact price because an agent with many buyers can set up an auction-like atmosphere where many buyers bid on your home at the same time. Ask them to describe the system they have for attracting buyers.


Do you have a reference list of clients I could contact?

Ask to see this list, and then proceed to spot-check some of the names.


What happens if I’m not happy with the job you are doing to get my home sold? Can I cancel my listing contract?

Be wary of agents that lock you into a lengthy listing contract, which they can get out of (by ceasing to effectively market your home) but you can’t. There are usually penalties and broker protection periods which safeguard the agent’s interests, but not yours. How confident is your agent in the service s/he will provide you? Will s/he allow you to cancel your contract without penalty if you’re not satisfied with the service provided?



Evaluate each agent’s responses to these 10 questions carefully and objectively. Who will do the best job for you? These questions will help you decide.

By Jay Macklin Owner/Broker or RE/MAX Platinum Living  480-907-5097





Scottsdale Reale Estate: 5 Tips for getting more house for your dollar!

by qmichmack 28. July 2013 15:09
 One of the most frequent questions we hear is "How can we get MORE house for our money"?

Here are the top 5 home buying tips:


Home Buying Tip #1: Do not be afraid to ask the seller to contribute towards your closing costs. Most banks will allow up to 6% of non-recurring costs to be contributed by the seller. These dollars can be best applied towards buying down the interest rate on your home loan. The lower the interest rate, the lower the payment, the more house you can afford.

Home Buying Tip #2: Always get a home inspection before buying a home. A home inspection is different from a home appraisal. A home inspection will help you not only undertand the condition of the home's major systems, but will also help in negotiating concessions, repairs or to renegotiate the price if problems are found. It is also very important to get a separate HVAC inspection most general inspectors will be able to tell the condition of the HVAC.

Home Buying Tip #3: Don't just shop for a home loan rate. Ensure that you find a knowledgeable and reputable lender that can discuss various options available to the home buyer. There are still wonderful down payment assistance programs and first time home buyer programs available. Also, there are various conventional loan programs that can be tailored to the home buyer's specific needs. Another consideration in today's real estate market is that banks are much tighter with their money. Once you find a Phoenix/Scottsdale home that you love, a buyer needs to ensure that the lender can follow through on what he or she promised and close the loan. Otherwise, you will be out of pocket for appraisal, home inspections and other fees. Your Phoenix/Scottsdale real estate agent will be able to provide you with references to lenders with proven results.

Home Buying Tip #4: Look for homes that have been on the market for awhile. Real Estate agents, as well as home buyers tend to only look at homes that are newly listed. That is all nice and well, but the home sellers that have possibly overpriced their homes originally and have reduced since or waiting for an offer, any offer, might be willing to negotiate the home price more aggressively than the ones that just put their Phoenix/Scottsdale home for sale. Check my monthly Dusty Deals list for these "stale" homes for sale.

Home Buying Tip #5: Work with an experienced real estate agent. A real estate agent can make or break a home sale. He/She is the resource for reputable lenders, inspectors, contractors and others critical parties to the home buying process. A real estate agent that is knowledgeable will be able to write a home sale contract in a way that will protect the buyer and bring the positive aspect of buyer's offer to the seller. A local real estate expert will be able to provide a home buyer with home selling trends and advise on the appropriate offer price and negotiate like a bulldog to ensure that you get the most home for your dollar.

READ MORE: The 10 Questions you should ask before you hire a real estate agent? This post has a really funny video to entertain you, but underneath is a list of what I would expect from my real estate agent.

Posted by Jay Macklin Scottsdale Real Estate Broker/Owner with RE/MAX Platinum Living - 480-907-5097


9 Stupid things buyers do to mess up their home purchase

by qmichmack 28. July 2013 15:00

Nine Stupid Things Buyers do to Mess Up their Home Purchase

Written on November 15, 2008 by irina in Behind Closed Doors, Buyers


Having sold homes in and around Scottsdale Arizona for many years now, I’ve seen a lot of situations where Scottsdale/Phoenix home buyers find a home of their dreams, but somehow going through the steps of the home purchase they make decisions that jeopardize their transactions.

If you are thinking of buying a home in Scottsdale/Phoenix or are in the middle of a real estate transactions, I am hoping that these home buying tips will help you.  They are not in any particular order, but each of them is critical and important in their own way.

  • Do NOT, and I mean, absolutely do NOT, quit your job in the middle of escrow.  Home buyers, sometimes think that if they have already been approved for a home loan, they will be fine quitting or changing jobs after the fact.  Unfortunately, that’s one sure way to be declined for your home mortgage.  Banks will verify employment and salary just before funding your home loan.  Funding usually takes place 2 days before you close escrow on your new Pasadena home.  No verification, no funds, no sale.
  • Home buyers – honestly – sometimes, you just talk too much.  Some of you have a tendency to talk away with the home seller prior to getting your offer accepted and disclose a ton of material information that should be kept confidential.  If you have any questions, have your real estate agent ask them.  Stop talking.  You think that you’re finding out stuff about the house, but in actuality the home seller is learning more about YOU!  Let the real estate agent do their job and negotiate on your behalf.  After the contract is sealed, you can talk away all you want.  :-)
  • You, the home buyer, didn’t meet with a lender for a complete consultation to get pre~approved and did not set a budget for your home purchase.  It’s important to understand how much you are able to afford before you make an offer on your home.  Once you find your Scottsdale/Phoenix home, you will start incurring costs – for home inspections, sewer line inspections, appraisal, permits, etc.  If you did not do your due diligence and did not take the time to sit down with a lender, complete a full application and provide all the requested paperwork, you don’t really know if you’re qualified for a loan on that home.

Pre-qualifications, where lenders just do a quick analysis over the phone without submission and full underwriting review, mean absolutely nothing.  As we say in the real estate business, prequals are not worth the paper they’re written off.

Ensure that you have been fully approved for your mortgage and you understand what your budget is.

How much money should you borrow from the bank?  The rule of thumb in real estate lending is to make sure that your monthly payment does not exceed 36% of your income before taxes.

Also, ensure that you understand what your closing costs will be and how much money you should set aside to cover these home purchase costs.

  • Do not understand your mortgage choices.  There are so many different types of real estate loans to choose from.  Each one is unique in its own way.  As a home buyer, explore all your options.  A good real estate mortgage lender will ask questions that will help them recommend the appropriate financial product that is right for your individual needs.

Did you know that there are 40 year fixed mortgage loans available now?  Is an FHA loan the best solution for you?  Are you a first time buyer?  If so, did you check to see if there are any down payment assistance programs available to you?  How long do you anticipate living in your home?  Less than 5 years?  Maybe a fixed loan that adjusts after 5 or 7 years is the best way to go for you?  You have many, many options.  Explore them!!!  Buying a home is a huge decision!

  • You are not being represented by a real estate agent.  Or, you are being represented by the seller’s agent, also known as the listing agent.  Now… unless you know this real estate agent very, very well and you have the utmost confidence in him or her being able to objectively look at both sides of the transaction and gear you in the right direction having your best interest in mind, hire your own real estate agent.

The great thing about being a home buyer is that you do not have to pay a real estate agent commission in most cases.  The home seller pays the commission to their real estate brokerage and that real estate broker will share the commission with the buyer’s real estate agent.  Simple, isn’t it?  Get your own buyer broker representation!  Find a real estate “pit bull” that will ensure your interests are protected!

  • You saw the house, wrote the offer and never went back to check on the neighborhood.  Ouch…  escrow is underway and you find out that the neighbor next door has a band that practices in their garage every Sunday morning.  Or, you drive in for a home inspection to see that there’s no parking on the street because there’s some sort of on-going activity taking place a block away from your newly found home.  You see what I mean, right?  If you are not 100% familiar with the neighborhood, take the time to drive by the house and around the neighborhood at different times of day and evening.  Check your commute time to work from the house.  See what it’s like being in that neighborhood or on that street on weekends.
  • You did not get the home inspected by a professional inspector.  Every home should be inspected by an approved home inspector.  Living in Arizona, termite inspections are a must.  And, when buying a home in the Scottsdale or Phoenix areas, consider hiring an HVAC Inspector.
  • You bought the most expensive house on the block.  Shall I say more?  If you have a lot of money and it doesn’t really matter – go for it.  But, if you’re like the rest of us, please do not buy the most expensive home on the block.  THINK RESALE VALUE!!!

Take the time to look at comparable homes prior to writing the initial offer.

Ensure that the home will appraise.

Have a discussion with your real estate agent to see how much this home will be worth 3, 5 or 7 years from now.  When I represent home buyers, I always ask myself – if I had to sell this home today what would its pros and cons be.

  • Review all offer terms carefully.  Crafting an effective offer is a skill.  Strategize on the best way to write an offer with your real estate agent.  Are you asking the seller for concessions?  Is your offer clean?  Is it contingent upon you selling your home?  Present yourself, home buyer, in the best light by being approved by a lender, providing proof of funds, writing an introduction letter to the home seller and having a great and experienced real estate agent effectively packaging all this for you.

Read More:  5 Tips to get more home for your money!

And, just for fun, here’s one of my favorite posts – What can you expect from a great real estate agent!  Watch the video – it’s hillarious!!!

Buying a home in Scottsdale or any other city can be stressful and can have many pitfalls.  Ensure that you are guided by a real estate professional that you trust and respect and who has YOUR best interest at heart.

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Arizona foreclosure inventory down 58 percent from a year ago.

by qmichmack 26. June 2013 10:44

Phoenix was ground zero for the housing crisis only a few years ago, but is now seeing foreclosure activity plunge to some of the lowest levels in the nation.

Arizona’s foreclosure inventory took a 58 percent year-over-year nosedive to a rate of 1.3 percent in April, according to CoreLogic’s latest foreclosure report released Tuesday.

Read More: http://www.bizjournals.com/phoenix/news/2013/06/25/arizona-foreclosure-inventory-down-58.html?iana=ind_rre