Tom & Debbie Clancy - White Mountains Real Estate

The following article was published in RealtyTrac's July 2011 Foreclosure Market Trends Report   1.17 Million  Homes Receive Foreclosure Notice During First Six Months of the Year Second  Quarter Numbers Lowest Since Fourth Quarter of 2007 IRVINE, Calif. – July 14,  2011 – RealtyTrac®,  ...

  Although our market isn’t as bad as the Phoenix area, of all the homes sold in Navajo and Apache Counties in 2010, 47% were foreclosed properties or short sales.  These “distressed” sales have had a major impact on property values.Year-to-date there have been 9 condos and townhomes sold and 8 of those have been bank ...

There have been 24 condos and townhomes sold in Pinetop and Lakeside in 2010.  This compares to 23 sales during the same period last year.  The average price of the homes sold in 2010 was $172,775, compared to $203,180 in 2009.  This is a drop of 15% since last year.“Rate of Absorption” is the length of time it will take ...

  So far, in 2010 there have been 179 homes sold in the Pinetop, Lakeside and Show Low areas with a median sales price of 164,500.  During the same period last year there were only 117 homes sold and the median sales price was $164,500.  This is a 14.8% decline in the median price of the homes sold.  In the Pinetop ...

  About one-half of all the homes sole in Pinetop, Lakeside and Show Low over the last six months were either bank owned or short sales.  The large percentage of foreclosures has caused a large drop in property values.  When a bank forecloses on a home they will sell it below market value in order to sell it quickly, and ...

There have been 42 homes sold in Pinetop, Lakeside, and Show Low so far in 2010.  21 of these sales were REO (foreclosed or bank owned) properties and 4 of them were short sales.  The high percentage of distressed sales is driving property values down, which is good for buyers but bad for sellers.  The number of foreclosures and ...

NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures. The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures ...

During the first three quarters of 2009 homes sales in the Pinetop-Lakeside and Show Low areas dropped 23% compared to the same period last year, and the median price of the homes sold was down 27%. Here is a breakdown by area: TOTAL SALES Pinetop Country Club Area - Down 45% (2008 - $34.7M, 2009 - $19.1M) Pinetop (excluding the Country ...

RealtyTrac reports that Mountain's Meadow LLC and Pineview Properties LLC has received Notice of Trustee Sale.  They are the owners of record for Mountain's Meadow in Show Low, which is located behind Walgreens, and is marketed as a gated, Active Adult Community.  The recorded plat map for Mountain's Meadow shows almost ...

Rate of Absorption is one method of analyzing the real estate market, and estimates how long it will take to sell the current inventory of homes on the market based on the rate of recent sales.  All this is, is the number of homes on the market divided by the number of homes recently sold over a given period of time.  This can be ...