Anyone who has driven through the Phoenix or Scottsdale area recently could probably see that this is one part of the country that’s been hit hard by the recession. The construction industry has fallen apart completely along with the real estate market. Unemployment is rampant and competition for the few jobs there are is fierce. But it’s not all bad news.
Things are slowly starting to turn around in the Phoenix area and that’s good news for home buyers. When the economy improves, securing a loan is a lot easier and there’s no shortage of foreclosed and distressed homes to choose from. Just Google the terms “Scottsdale AZ short sales” and you’ll see just what we mean.
But purchasing a Scottsdale short sale isn’t always as easy as it sounds. There’s a huge pile of paperwork associated with these sales. Most banks are just too overwhelmed by the volume of foreclosed houses to work through the paperwork efficiently. That means you’ll probably be looking at a long haul before moving into a short sale.
Things are looking up in Arizona and that means housing prices will almost certainly start rising in the next year or two. So act now while there are still deals to be had.
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