The rates of foreclosure in Arizona have increased considerably and in the April of 2005, it recorded the fifth highest rate of foreclosure in the country. It was almost two times that of the national average. Around this time, the total number of homes estimated to be in foreclosure in the country was 64,057 and out of this, 2,625 foreclosures were from Arizona. Most of the Arizona foreclosures for sale were reported to be from Maricopa County.
The Phoenix County also saw an increase in foreclosure activity and shot to 35% in August 2005. The foreclosure rates remained below the national average and the number of foreclosed homes last recorded was 2,717. The filing average was one in 437 homes. This has opened up the real estate market with more and more Arizona home foreclosures available for buying. The inventory of homes created last year in Arizona is quite huge and this is good news for those looking to buy a home.
Cost of Living in Arizona
Arizona has long been considered a great place to have a nice and comfortable home. In the recent years, the cost of living in Arizona dropped and by the last quarter of 2006, it had dropped tremendously. In a way, this means that more and more people can now buy foreclosure homes in Arizona. Different counties in Arizona have different housing rates but they all offer the basics like good housing facilities, utilities, grocery stores, health care, transportation, and other services.
In fact, many people have been considering Phoenix as an ideal place to buy a retirement home. With a long list of bank foreclosures in Arizona especially Phoenix, having a post retirement home here is no longer a dream. The reason why more and more people want to invest in Arizona bank foreclosures in the county of Phoenix is because of several reasons such as being able to enjoy the natural beauty of the Sonoran Desert. Phoenix offers more than just a dream house, it offers spectacular sunsets, many types of recreational opportunities and numerous services and facilities that are tailored for retirees. If you are also looking to join this increasing breed of people then you can find some of the best, stylish, comfortable, and amazing homes in the Phoenix area with the help of Arizona foreclosure listings.
You can find these lists with lenders or alternatively get them from online real estate websites. Each list is updated and comprehensive and gives vital information regarding Arizona foreclosure homes. Whatever type of home you want from a single room to a villa or a condominium, you will find them all under Arizona bank foreclosures. It is an opportunity of a lifetime and you need to be really lucky to find the home of your choice in the county of your choice at your price.
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