Happily the downward trend in short sales continues in spite of reports to the contrary...
March 12 - I love getting comments from buyers who are trying to purchase and tell me about something they "read in the paper". It's unfortunate because misinformation can cost people thousands of dollars. This story in the Phoenix Business Journal used data issued by RealtyTrac to show that short sales surged by 43% between the 4th quarter of 2011 and the 4th quarter of 2012. Kristena Hansen is an excellent local journalist who covers real estate, but unfortunately RealtyTrac has had a long history of issuing erroneous information about Phoenix, some of which have been wildly wrong like this one. Across Maricopa and Pinal Counties, our data shows conclusively that short sales declined by 22% between 4Q 2011 and 4Q 2012. There was no surging to be found anywhere. This seems to call into question the entire methodology used by RealtyTrac to classify short sales.
Cromford Daily Observation
No comments:
Post a Comment