I am an out of town investor and that is why I sold them thru an agent. Even if I were local,I would have still sold thru an agent. I have one left in the 85085 zip code, it is the lowest per sq. ft in the and it is now day 35.

Congrats on the sales Rommel. We've seen the smae thing with trying to sell houses with existing tenants. It's tough...

And you make a great point about balancing the cost of holding vs. selling now. We had a buyer that offered about 2K less than list. The seller didn't even counter and their agent said they would only take a full price offer. 2 months (and 2 mortgage payments) later that house is still sitting empty and unsold... Seller's need to be able to seperate their emotions and not get fixated on getting a specific price.

Do you sell your properties yourself, or do you use a real estate agent?

Update: I had 5 houses for sale and of these, one sold in six days, the other three sold

in 10-14 days. All of this happened in late April and Early May. I still have one that has been on the market for the past 21 days. It seems to be buyers coming back. The main difference now is that

they are asking for closing costs assistance and also asking for less than full price. You have

to balance the cost of holding on to the house for a long time versus selling it now at a lower

price point.

I priced the homes to be one of the lowest if not the lowest in the zipcode. Another thing that I did that turned

out to be a good decision was to get rid of my tenants. I offerd cash incentives and did what

was needed to get them out. It would have been almost impossible to sell these houses since

most of the buyers are homeowners instead of investors.

For Phoenix, typically March - August are roughly equivalent for sales, and significantly higher than Sept - Feb. Generally, across the US home sales are higher in the summer than the winter.

Average Days on Market is tough to say. It varies wildly by price, location and style. 60 days isn't unusual, and in certain areas and price ranges, 2 or 3 times that wouldn't surprise me. But there are still some hot areas where the right home moves very quickly. We just sold a new build $550K listing in Wittmann in six days. Someone in our office had a 165K listing that went in 1 day. Overpriced listings may never sell.

Homes *have* to be priced right to sell (and priced aggressively if a quick sale is desired/needed.)

There is a LOT of inventory out there. Some subdivisions have dozens of similar homes for sale at similar prices. It can take some time to turn this inventory over.

Thanks for your reply. What are the peak selling months in Arizona and what is the average days on market right now?

Rommel -

Yes, it does appear that buyers are moving back into the market, but slowly. We are still in a buyer's market and will be until the inventory of available homes begins to come down.

There are a lot of price reductions, but generally it's from homes being priced to high too begin with.

Had a buyer look at a home listed at $599K. We comped it around $540K. That's rediculously overpriced. Offered 530K, the sellers countered with $545 if we'd waive the appraisal contingency. So they just admitted that THEY don't think it will appraise at $545K yet they list it at 599K??? That's pure unadulterated greed and/or hope for an uneducated buyer/agent.

Do you still see the the trend continuing with more buyers coming in? I am selling my

and one thing that frustrates is me are that sellers seem to be panicking and stampeding

towards the door by reducing their prices to such low levels.

I am an out of town investor and that is why I sold them thru an agent. Even if I were local,I would have still sold thru an agent. I have one left in the 85085 zip code, it is the lowest per sq. ft in the and it is now day 35.

Congrats on the sales Rommel. We've seen the smae thing with trying to sell houses with existing tenants. It's tough...

And you make a great point about balancing the cost of holding vs. selling now. We had a buyer that offered about 2K less than list. The seller didn't even counter and their agent said they would only take a full price offer. 2 months (and 2 mortgage payments) later that house is still sitting empty and unsold... Seller's need to be able to seperate their emotions and not get fixated on getting a specific price.

Do you sell your properties yourself, or do you use a real estate agent?

Update: I had 5 houses for sale and of these, one sold in six days, the other three sold

in 10-14 days. All of this happened in late April and Early May. I still have one that has been on the market for the past 21 days. It seems to be buyers coming back. The main difference now is that

they are asking for closing costs assistance and also asking for less than full price. You have

to balance the cost of holding on to the house for a long time versus selling it now at a lower

price point.

I priced the homes to be one of the lowest if not the lowest in the zipcode. Another thing that I did that turned

out to be a good decision was to get rid of my tenants. I offerd cash incentives and did what

was needed to get them out. It would have been almost impossible to sell these houses since

most of the buyers are homeowners instead of investors.

How is the market for the Hillcrest Arrowhead area in Glendale and the I17 Dynamite of Phoenix, NW Valley?

For Phoenix, typically March - August are roughly equivalent for sales, and significantly higher than Sept - Feb. Generally, across the US home sales are higher in the summer than the winter.

Average Days on Market is tough to say. It varies wildly by price, location and style. 60 days isn't unusual, and in certain areas and price ranges, 2 or 3 times that wouldn't surprise me. But there are still some hot areas where the right home moves very quickly. We just sold a new build $550K listing in Wittmann in six days. Someone in our office had a 165K listing that went in 1 day. Overpriced listings may never sell.

Homes *have* to be priced right to sell (and priced aggressively if a quick sale is desired/needed.)

There is a LOT of inventory out there. Some subdivisions have dozens of similar homes for sale at similar prices. It can take some time to turn this inventory over.

Thanks for your reply. What are the peak selling months in Arizona and what is the average days on market right now?

Rommel -

Yes, it does appear that buyers are moving back into the market, but slowly. We are still in a buyer's market and will be until the inventory of available homes begins to come down.

There are a lot of price reductions, but generally it's from homes being priced to high too begin with.

Had a buyer look at a home listed at $599K. We comped it around $540K. That's rediculously overpriced. Offered 530K, the sellers countered with $545 if we'd waive the appraisal contingency. So they just admitted that THEY don't think it will appraise at $545K yet they list it at 599K??? That's pure unadulterated greed and/or hope for an uneducated buyer/agent.

Do you still see the the trend continuing with more buyers coming in? I am selling my

and one thing that frustrates is me are that sellers seem to be panicking and stampeding

towards the door by reducing their prices to such low levels.