Scottsdale: Relocate to Tourist Hotspot
A snapshot of the Scottsdale real estate market throws up the following key highlights. There are right now 1,837 foreclosed homes and houses for sale at its property auctions. These bear the median listed price of $337,759. In addition, there are 4,847 other homes for sale, sporting the median price tag of an exorbitant $600,000. So, it is quite evident that the foreclosed properties are being sold at about half the prices of the other FSBO {for sale by owner} properties. It is this discounted pricing that renders the real estate listings auctions so irresistible to all prospective homebuyers. You might hire the professional services of a property broker for grassroots-level advice on your selection of a home in Scottsdale. Johnson Tami, Matt Edwards, Jim Mc Dowell, Jr and Jeff Sidles are a few of the leading agents, among the hundreds operating in Scottsdale, who can help you to get the best return on your real estate investment.
Scottsdale is a picturesque tourist destination in Maricopa County, in Arizona State of the US. The city has been aptly described as the “desert version of South Beach of Miami”. Immediately adjoining the borders of Scottsdale are Tempe, Fountain Hills, Phoenix Valley and Carefree. The other suburban cities and towns of Scottsdale include Mesa, Apache Junction, Peoria, Avondale, Chandler, Goodyear, El Mirage, Surprise, Glendale, Tolleson, Litchfield Park, Guadalupe, Buckeye, Paradise Valley, Cave Creek, Wickenburg, Fountain Hills, Youngtown, Gila Bend, Queen Creek, and Gilbert. Other places in proximity to Scottsdale include Sun Lakes, New River, Aguila, Rio Verde, Anthem, Sun City, Arlington, Sun City West, Circle City, Liberty, Wittman, Mobile, Wintersburg, Morristown, Waddell, Palo Verde, Tortilla Flat and Tonopah.
Latest Government’s Foreclosure-Related Measures
Scottsdale foreclosures are a minuscule fraction of the extensive government foreclosures that are occurring all over the US. Indeed, disconcerted by this, the government has put forward the Foreclosure Prevention Act of 2008. The bill currently stands referred to the House Committee on Appropriations. This new bill aims to set up a Neighborhood Refinance Corporation to alleviate mortgage foreclosures through innovative housing counseling activities.
As an intending investor at the Scottsdale property auctions, you will surely find the following three new items of information relating to the US government’s posture on foreclosures attention-grabbing and constructive. Firstly, the new housing bill has approved the release of an interest-free federal grant of $7,500 to all first-time homebuyers. Secondly, by the next year {2009}, a Nationwide Mortgage Licensing System and Registry is to be put into place. All loan officers and loan originators would henceforth need to compulsorily register themselves with this centralized depository. This move seeks to protect the interests of those availing themselves of mortgage finance, and rein in any existing unfair trade practices. Thirdly, anxious at the plight of the millions of home-owners helplessly succumbing to the government foreclosures, the government has come up with a helpful website that guides investors on how to avoid foreclosures. Therefore, you would be well advised to familiarize yourself with the contents of the website http://www.hud.gov/foreclosure/index.cfm.
