November 23, 2017

Where To Get The Best Real Estate Deals

According to the Realtor Magazine Daily News, with the rising foreclosures and the drop in housing prices across the country, investors and buyers can find plenty of deals in real estate. In Phoenix alone, housing prices are down nearly 45% from its 2006 peak (we’re ranked #1 and #2 for best deals!) and up to 70% discount in some areas of metro Phoenix. 

Recent data from Trulia.com’s quarterly Home Offer Report pinpoints where the best housing deals can often be found. Trulia’s report takes into account the average number of days on the market before the first price reduction, average discount during the price-cut period, probability of a second price cut, and the total percentage of for-sale properties that have had prices reduces at least once.

Currently, here are the cities offering the biggest home price discounts.

1. Phoenix, Arizona
Average number of days on market before first reduction: 48
Average discount in first reduction: 8 percent
Percentage of for-sale homes with price cuts: 35 percent

2. Mesa, Arizona
Average number of days on market before first reduction: 55
Average discount in first reduction: 8 percent
Percentage of for-sale homes with price cuts: 38 percent

3. Minneapolis, Minnesota
Average number of days on market before first reduction: 45
Average discount in first reduction: 9 percent
Percentage of for-sale homes with price cuts: 28 percent

4. Long Beach, California
Average number of days on market before first reduction: 58
Average discount in first reduction: 7 percent
Percentage of for-sale homes with price cuts: 33 percent

5. Baltimore, Maryland
Average number of days on market before first reduction: 62
Average discount in first reduction: 10 percent
Percentage of for-sale homes with price cuts: 30 percent

See the rest of the cities that made the cut.

The percentages above do not represent what homes are selling for off of the current list price.  With record sales in February through March 2011, homes in Phoenix are selling on average 96% of the current list price or higher and most listings are receiving multiple offers.

Contact us today to find where to get the best real estate deals for you in Phoenix… we help investors find positive cash flow properties, buy and hold real estate in Phoenix, Phoenix fix and flip houses, Phoenix fixer upper homes and biggest discounts in Phoenix Arizona real estate. 

Professional real estate investor Realtor services are provided by Jason Dawson, contact us todat at 480.442.9809 to get the best real estate deals in Phoenix!

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