Arizona is Offering a Surfeit of Foreclosed Houses for Sale
A potential purchaser of foreclosed houses – those that have been repossessed by the banks, can take their pick from a surfeit of such units in various cities of Arizona. The state is dotted with nature parks, forests, Indian reservations and of course the Grand Canyon is there with all its awesome majesty. For those who love adventure the wide spaces of Arizona calls out to them with open arms. The climate is congenial – mild winters and hot summers; the northern part of the state being cooler ringed in by mountains and green pine forests.
Phoenix is its largest city having for sale a good number of foreclosed properties. The buyer can have a wide range to choose from. The houses are being sold with heavy discounts so that the inventory of distressed houses can be reduced.
There are other cities with foreclosed houses begging to be sold – Mesa, Scottsdale, Tucson, Chandler, Glendale as well as Yuma. 70% of the entire sale in the last year was from the distressed sector comprising of short sales and foreclosure auctions.
Those who are interested in investing in foreclosed units will find a huge choice awaiting them; while going about this job as an added bonus they can take in the majestic sights. The updated foreclosure listings are available online inclusive of photographs and maps for those who do not have the time to make the trip to the state.
Arizona ranked in foreclosure rates in the previous year according to RealtyTrac. More than 163,000 owners of residential units defaulted on their loans. They were served with foreclosure notices – the proportion being 6.12% of all the homes in the state. The national rate was 2.2%.
In 2010 February foreclosure activity in Arizona had somewhat slowed down but it is still behind Nevada. The latter has a foreclosure rate of 1:163. In February 6,053 houses were auctioned and taken over by the lenders. Another set of 10,657 houses have been notified for trustee sale. Nearly 17,000 homeowners in distress in Arizona are in trouble; many have already been evicted.
Last January more than 21,000 residential houses in Arizona were in some stage of foreclosure or taken over by the lenders. Of these some 9,000 houses have already been repossessed by the banks and listed for sale to third parties. The situation can be rewarding to investors and house hunters.
Real very good real estate blog I have ever seen. Good going, Keep it up
Hello there, just became alert to your blog through Google, and found that it is really informative. I’m gonna watch out for brussels. I’ll appreciate if you continue this in future. A lot of people will be benefited from your writing. Cheers!