Wow lots of things are happening!!!
It’s been a little while since my last post but we have been extremely busy.
As many of you know not only do we provide our clients with great deals we also build rental portfolios for clients and we do our own fix and flips. The retail side of our business has been going crazy. Last week we sold 7 properties in 9 days. We have not had a week like that in years.
I just want to let everyone know what is selling and what we sold. We sold 2 wholesale deals that needed fix-up to a client that is building a rental portfolio. We sold another wholesale deal to a client that will fix & flip it. We sold 3 of our retail properties to end users. And we sold a retail property to an investor that will use it has a rental. What a great week. The great thing about our sales was the verity of types of sales.
We sold properties to both “fix & Flip investors as well as portfolio investors. We also sold properties to end users. The national housing report for the month of April was again very encouraging. Home sale were up pending sales were up. The stock market responded positively to the report with gains again on Monday. Our own Phoenix market has been doing better than the National average based on population growth and affordability. Are these indicators a sign of a strong recovery?
The real advantage for any buyer, investor or end user, is the pricing and inventory. Inventory is feeling the impact of a recovering market. Many bank deals are now receiving multiple offers and overbidding is creeping back in again. Realtors are now suggesting writing offers above the list price to insure a deal. The number of months of inventory has declined again in April. History tells us that as inventory declines pricing will be affected. The good news is it will be a buyers market for some time to come however the best deals are going fast now a days. Don't foreget to visit our website.
Happy investing
Chris Bianco
www.valleywideforeclosures.com
chrsi@valleywideforeclosures.com
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