01/31/2013 03:49 PM
Where did all the Flagstaff Real Estate Listings go?

Holy Cow! There are no listings in mls..... 

Ever increasing demand and the inability for many homeowners to list their homes has created a shortage of listings in the Flagstaff MLS. Buyers are taking advantage of historically low interest rates and sellers are seeing that prices are finally on the climb. The need for an experienced buyers agent is truly showing itself again.

As of 1-31-13 my website showings 1281 total listings in MLS. This may seem like a lot but at this time last year there were at least 2,300 listings in mls. 

 

This 1281 total listings are broken down into all categories of real estate and cities. 

  • Only 465 are Single Family Homes
  • Only 317 are Single Family Homes that are not under contract
  • Only 214 are Single Family Homes, not under contract, and have Flagstaff Addresses
  • Only 39 are Single Family Homes, not under contract, are in Flagstaff, and are between $200,000 and $350,000!!!

Just two years ago we were seeing 70-80 homes on the market in just Ponderosa Trails, now there are only 39 available in the most common price ranges in all of Flagstaff. If you are looking to purchase one of these homes, you need my help! Don't rely on an agent that responds in a day or two, don't rely on yourself to check my website every couple of days. If you do, you will miss out on the prices that we are seeing. Prices are jumping up, and with this little supply, and high demand prices will only continue to increase. 

So why aren't more homeowners listing their homes? 

  • Many sellers are waiting for better prices. If they don't need to sell most are not.
  • There are a lot of home owners that have negative equity (upside-down). If they are not in a financial and verifiable hardship they cannot qualify for a short sale. Their only other option is to make up the difference in cash to the balance of their mortgage, which most people have no interest in doing.
  • Banks are allowing people to stay in their homes longer than they have in the past if they are behind. There are about 1/3 of the number of short sales and foreclosures on the market as their was 1 year ago, many of the mortgage problems are not showing themselves in the same way as before. 

With the limited potential of homeowners selling their homes every home that hits the market is seeing incredible activity. As a buyer you better have some type of an advantage over others. Developing good strategies to get your offer accepted is critical. Most agents will just write up your offer and send it over. I think we need to do more, let's figure out a way to bring your offer to the top of the sellers list!

Without the skills of a good agent many buyers are missing out on homes that are sold within 24 hours of hitting the market. Buyers don't have the time to check my website constantly so by they time they see many listings they are already sold. Call me or email me and we will get to work finding your home in Flagstaff!

Read the rest of this article >>