Chandler Zip Code Highest in the SE Valley Short Sales

December 12, 2011 at 2:50 pm Leave a comment

by: Maria Hass

The Arizona Republic recently reported that the Chandler zip code of 85225 has the highest short sales in the SE Valley with 178 homes. This comes as a surprise since majority of distressed homes usually come from cities in the West side of town where housing development took place during the 2005-2006 real estate hype and most houses were overvalued.

The report explains that the high short sale figures in zip code 85225 was due to its fairly big area and homeowners taking out cash to buy a boat, investment property, pay off credit cards and more. Since home values tanked, many homeowners are upside down on their mortgage and took the short sale route to get rid of the house.

At present, the short sale count surpassed foreclosure homes. Successful short sales are increasing which means that there will be less foreclosures resultling from approved short sales. One can find a great deal at buying short sales if the buyer can wait and the short sale is approved by the seller’s lender.

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Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate, Real Estate Deals. Tags: , , .

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