It’s Almost Like 2005 All Over Again …

avatarthumbnail.jpgBank owned home comes to the market in Mesa yesterday.

Home is off the market this morning with eight offers submitted to the bank, including my client’s offer.

Eight offers in one day? It feels like 2005.

Oh, and Arizona real estate commissioner Sam Wercinski says mortgage fraud – including cash back schemes – are on the rise. Looks like the bottom feeders are emerging from under their rocks to take advantage of folks who haven’t read a headline in two years.

More on Commissioner Wercinski’s talk before the Arizona Real Estate Educators’ Association tomorrow.

[tags]Phoenix real estate, bank owned homes, mortgage fraud[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

0 Comments

  • Tiffany In East Valley 9 years ago

    It’s been bank-owned/short feeding frenzy like this in the Gilbert/Chandler/Mesa area since the beginning of May. On the market in the AM, several offers over asking by the PM. My buyers are understandbly skeptical when I first tell them that a full-price offer probably isn’t going to cut it – after all, they aren’t hearing it in the news at all. After an offer or two, they catch on though. Lenders are having a problem w/appraisals on these bidding wars – just like 2005.

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