Fountain Hills January 2010 Market Report

The news is good.
Buyers have awakened from their hibernation. They are looking and buying.50 houses in Fountain Hills received offers in the month of January. But the sad reality is that 66% of January’s market was distressed properties. Of the 35 homes that had an accepted contract 18 were distressed. Another 15 are still waiting for short sale approval from lenders.

Here is a breakdown of what has received an accepted contract in Fountain Hills Arizona in Jaunuary, 2010

$100,000 to $200,000 2 contracts
$200,000 to $300,000 10 contracts 2 foreclosures 4 short sales
$300,000 to $400,000 8 contracts 1 foreclosure 3 short sales
$400,000 to $500,000 4 contracts 2 foreclosures 1 short sale
$500,000 to $600,000 3 contracts 0 1 short sale
$600,000 to $700,000 3 contracts 0 1 short sale
$700,000 to $800,000 1 contract 1 foreclosure 0
$800,000 to $900,000 1 contract 1 foreclosure 0
$900,000 to $1M 1 contract 1 foreclosure 0
$1M to $2M 3 contracts 0 0
$2m + 0

The most popular price range were houses listed between $200,00 and $400,000. That makes sense since it incorporates the price range with the first time buyer incentive of $8000 tax credit. It is also the most popular range for move up buyers who can receive a $6500 tax credit for selling their smaller home and moving to a larger one.

Here is what is currently on the market.

$100,000 to $200,000 7 available 1 foreclosure 3 Short sales
$200,000 to $300,000 50 available 10 foreclosures 16 short sales
$300,000 to $400,000 47 available 1 foreclosure 5 short sales
$400,000 to $500,000 59 available 4 foreclosures 4 short sales
$500,000 to $600,000 27 available 5 foreclosures 2 short sales
$600,000 to $700,000 30 available 2 foreclosures 4 short sales
$700,000 to $800,000 13 available 0 2 short sales
$800,000 to $900,000 19 available 0 0
$900,000 to $1M 12 available 0 2 short sales
$1M to $2M 60 available 8 foreclosures 5 short sales
$2M to $3M 24 available 0 0
$3m + 8 available 0 0