Accepted REO Offers in Gilbert and Ahwatukee

The makeup of our RE investment purchases has changed drastically over the past year. Up until the middle to latter part of 2009, we were buying most of our projects from the Maricopa County courthouse steps (public trustee auction).

Since then, the amount of investor activity as increased substantially as a generalized feeling amongst some investors is that housing values (especially in the lower dollar segment of the market) are beginning to show

signs of stabilization. The 30% - 40% yearly slip in housing values appears to be in the rear view mirror.

Due to this change in market activity, we have been finding most of our deals through MLS REO (bank owned) properties and our most recent accepted offers (as of the beginning of September 2010) are in Gilbert, AZ and Phoenix, AZ (Ahwatukee neighborhood).

We will be performing inspections on both properties as there are some issues that need to be addressed before we're comfortable in pushing forward with each deal. In particular, the Gilbert property has some settling issues that may prove to be a benefit to us by scaring away the other investor competition or the issue may not be worth dealing with.

Time will tell on both of these deals!