Scottsdale Real Estate Is Affordable Contrary To Popular Opinion
Scottsdale Real Estate in Arizona has become affordable especially when the buyer turns their REALTOR® in search of foreclosed properties or other distressed homes. In North Scottsdale, in the zip codes 85255, 85262, and 85266, there are foreclosures ranging from $64,900 to $6,995,000. Of the current 119 listings of North Scottsdale homes for sale all of these listed properties are North Scottsdale lender owned foreclosed properties.
The lender owned property is easier to purchase than the pre-foreclosure or short sale property. It's analogous to a homeowner selling their own property except you're now dealing with an institution and normally institutional addendums that will be attached as part of any purchase contract. Many of these banks do business in many states and they use these addendums so they can work with each states purchase contracts and streamline their administration process.
There is a misconception that when you see a bank offer that taking another 20 or 30 percent off that price is the way to go to get the " incredible deal". This is typically not true as the bank has already discounted the property. Make sure that you have your REALTOR® perform a comprehensive market analysis so you know what you're getting for your investment. Many a property has been lost by the would be buyer trying to purchase a property and is they are not fully informed. Mean while, someone else makes an offer that the bank could consider that culminated into a sale, making for a happy buyer. Snooze and you'll lose.
Scottsdale real estate has indeed, become affordable.