How much is your Phoenix Arizona home really worth in December 2012?

I have a client who called me last week and told me they have to sell their home. He said he might have to do a short sale and wanted to know the process of a short sale. I explained to him that prices are on the rise here in Phoenix Arizona and his house might be worth more than what he thinks.
I pulled up homes for sale in his area that were active, pending and recently sold. After reviewing, the data showed in 2010 his home was worth $270K, but at this time in December 2012 the data showed that homes in his area were currently worth much more and that his home was currently worth $490K. What a difference! My client was ecstatic and could not believe that his values in the neighborhood had increased that much. This is great news, because home prices have increased in Phoenix over this past year. If you or someone you know would like to find out what your home is worth, give me a call at 602.363.1720 or email me at Lydia@ArizonaPowerAgent.com

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