A Boom When You Least Expect It

How strange is it to find out there are multiple offers on a bank owned property in an area that is loaded with foreclosures?  How about buyers getting surprised that some of the foreclosures are going for higher than the asking prices?

This might be just a bleep on the foreclosure screen in the town of Maricopa, Az.  It was featured on ABC's Nightline about a year ago for being an example of the boom in real estate gone bust in a city about 20 miles southwest of Phoenix.  I have sold real estate here for years and have gone through all the excitement leading up to and out of the boom to the rapid rise of foreclosures. 

I know that March is one of the biggest months in Phoenix for spring training, wonderful golf weather, and now of course the incredible buys on homes with prices even the builders could not even build these homes for, like $50/square foot.   The visitors are in town and they are hearing about these outstanding buys and they are out looking and in many cases buying.  There are a lot of cash buyers back also. 

For many people wondering when is the time to look at foreclosures, you better go now.  There is plenty of activity here in Arizona.