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From the category archives:

Foreclosures

Buyers find some great real estate deals in Phoenix

August 24, 2010

While experts predict that the rate of foreclosures in 2010 will exceed those in 2009 – and 2010 is being dubbed the Year of the Short Sale – there was some good news reported recently. RealtyTrac, an Irvine, Calif.-based data company, reported that the foreclosure rate dropped by about 5 percent during the first half of 2010.

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Majority of Phoenix homeowners are underwater

August 16, 2010

According to new research from the real estate Web site Zillow.com, nearly 67 percent of all homeowners with mortgages in the Phoenix area are underwater on their homes.

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Foreclosures stabilizing in the Phoenix market – but what are the types of foreclosures in Arizona?

August 11, 2010

I’ve mentioned that I’m taking the month of August to discuss foreclosures and short sales. Well, today I’d like to quickly mention some recent statistics that came out from ASU’s W. P. Carey School of Business regarding foreclosures in the Phoenix real estate market and then take a look at the different types of foreclosures in Arizona.

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Freddie reports a loss – but a smaller one

August 9, 2010

Freddie Mac reported today a second-quarter net loss of $4.7 billion (down from $6.8 billion in the first quarter) and asked the U.S. Treasury to provide another $1.8 billion infusion into their company, raising their government-financed loan to $63.1 billion.

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Thinking of foreclosing on a Phoenix home? You have new protections

August 5, 2010

A new law – Senate Bill 1130 – is putting a stop to foreclosure consultants or mortgage rescue companies charging fees in advance of their services rendered. It’s been a big problem for thousands of people who paid up-front fees and then got nothing in return.

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Do foreclosures reduce home values?

August 4, 2010

Yes, verifiably, according to researchers in a recent working paper, “Forced Sales and House Prices”.
An MIT economist and two Harvard researchers analyzed 1.8 million home sales in Massachusetts (1987 to 2009), finding that “foreclosure reduces the value of a house by 27 percent, on average.”
Combine this with with their statistic that foreclosed homes make up [...]

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When homeownership is down nationwide, it could be a good time to buy a Phoenix home

August 3, 2010

In the Arizona Republic yesterday, an article went into the national trend of homeownership declining. It reported that the rate of homeownership could get as low as 62 percent as early as 2012, with the current rates not having been this low cine they hit 61.9 percent in 1960.

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Just out today – foreclosures up in 75 percent of metros. What?!

July 29, 2010

RealtyTrac® the leading online marketplace for foreclosure properties, released today its Midyear 2010 Metropolitan Foreclosure Market Report. The news was grim. It showed 154 of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity – that is an astounding 75 percent.

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Sales up in the Phoenix housing market . . . and foreclosures too

July 8, 2010

The latest Realty Studies report from Arizona State University’s W. P. Carey School of Business came out this week. As in my blog post on Tuesday, news is mixed.

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Fountain Hills – Gated – Cul-de-Sac – 2200sf

July 2, 2010

Check out the view and the sunsets every night from the Fountain Hills oasis. What does your dream look like? If it includes great, mature landscaping, a pool with water features, a place to install that outdoor b-b-q, then this could be it!

This 3 bed, 3 bath home features a large family [...]

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