As of October 1st, there are currently 521 homes for sale in Fountain Hills - 317 of those are single family homes and 127 (of the total) are distressed (either Short Sales or Foreclosures). That's about 25% of our active listings and relatively unchanged from last month. The average price is $543,652. There are 52 homes that have gone under Pending Status (under contract) and the average number of days on the market were 189. There were 26 single family homes that sold/closed escrow in September. Of those sales, 85% were distressed and most sales are under 400K. This is the time of year where wetypically see our inventory increase. Hopefully, our sales will increase along with it. It will be interesting to see if there are more foreclosures released to the market. Unfortunately, that's what continues to drive our prices down. On average, sellers are gettting about 95% of their list price. Since our prices have leveled off and are no longer in the death spiral that we saw a couple of years ago, sellers can expect more reasonable offers (unlessthey are overpriced). The prices are already down by an average of 50% from 2005-2006. They ARE a good deal! The time to buy is NOW! You can easily search for homes in Fountain Hills or surrounding communities on my website at www.MyHassleFreeListings.com. Call me today at 602.400.0250 or toll free at 888.311.4833!! If you, or someone you know are behind on their mortgage payments and owe more than the home is worth, please visit http://FountainHillsShortSales.com to find out how I may be able to help.
