Highland Ranch Bank Owned Property in Chino Valley, AZ

To view this home before it's gone call today
The Stephanie Woods Team
928-237-4455

We also have a list of pre-foreclosures that are not yet on the market.  Call today to find out more.

4 Bedroom in Quailwood

For Sale: 3BR/2BA Single Family House in Prescott Valley, AZ, $143,500

For Sale: 3BR/2BA Single Family House in Prescott Valley, AZ, $143,500

To check out this great home click on the link and give us a call today to view it before it is gone

The Stephanie Woods Team
928-237-4455

Prescott REO Homes and the New Tax Credit

Prescott Arizona REO properties are still a large part of the Prescott housing market currently accounting for about 35% of the sales with only 10% of the listings. Many bank owned properties come with perks such as home warranties or seller paid closing costs which make the deals even more attractive. On top of those, President Obama has signed a bill that extends the existing tax credit for first time homebuyers into the first half of 2010. The extension continues the existing tax credit for 10% of the purchase price up to a maximum of $8,000 for first time homebuyers (anyone who has not owned a home in the last three years).
In addition, the new bill also opens up opportunities for others who are not buying a home for the first time. For buyers who have owned a home for five of the last eight years and are purchasing a new primary residence they will receive a tax credit of 10% of the purchase price up to $6,500. They do not need to sell their existing residence to qualify, but they must move into the new home as a primary residence. This expansion of benefits to non-first time buyers is particularly helpful for a large segment of the Prescott area buyer's market. We all know what a great place Prescott is to live in and we are not alone. Most Prescott agents have an extensive list of prospective buyers who intend to move to Prescott in the future. This $6,500 incentive seems almost tailor made for this traditional Prescott buyer base.
In both cases, buyer income caps apply. There are other details of the bill that may impact individual situations. Ask me to recommend local mortgage brokers who will be happy to consult with the buyer's CPA to determine exactly what their credit is likely to be.
Both tax credits apply to purchases under contract by April 30th 2010 and they must close before June 30th 2010. This give Prescott REO buyers approximately five months to find a home and write a contract. Additionally, Federal Reserve bond purchase programs that have helped keep rates low over the last year are currently winding down. Many forecasts suggest rates in 2010 will average more than half a percentage point above current levels. Local appraisers are telling us values are stable in almost all of Yavapai County and do not show signs of continued decline. Combine the short window on the tax credit, the likely rise in rates and stabilization of prices and its hard to imagine a better opportunity for buyers than right now.

The following links are to REO (bank owned) and short sale listings that have gone on the market since November 1st.

New Prescott Short sales and REOs

New Prescott Valley & Chino Valley short sales and REOs

All other new Yavapai County Short sales and REO's



As always if you have any questions about any of these properties please give us a call.
All the Best,

 

Stephanie Woods Team

Keller Williams Check Realty

Call 928 237-4455

Prescott Valley Foreclosure New on Market

Prescott Valley Foreclosure

1506 square feet, 3 Bedrooms 2 1/2 baths

Only $150,000

Click on the Title for photos and details.

Stephanie Woods Team
Keller Williams Check Realty
928 237-4455