Phoenix Foreclosures Witness A Stupendous 500% Rise!

The stupendous rise in the rate of Phoenix foreclosures has left the people of this city sweating. Many have moved out the city in search for better opportunities. While not so long ago, builders had been steadily hiking real estate prices by a few thousand dollars each week, people were busy arranging for loan or credit to earn some quick money.

But as luck would have, new constructions such as Queen Creek are now facing dry times with hardly any buyers. Many, who had made choices in the heat of the moment, are increasingly facing foreclosure properties and not sure what they need to do in order to keep the roof on their heads. Till now, this year 75 homes in Queen Creek located in southeast of Phoenix have been repossessed by banks. So is the American Dream a myth now?

Subprime woes are fast claiming victims and the crisis has now escalated to greater heights. Additionally, the increase in interest rates and the decline in residential real estate prices have added to the pressure on people who own the houses they live in and hadn’t been able to calculate this shift in market scenario.

The year 2008 was the best year recorded so far for Phoenix foreclosures were the lowest that year. With only 5 homes with the Villages ZIP code filed for foreclosure, last year there were 15 victims and all in the last two months of the year. But this year, 2008, has seen an incredible rise with 75 homes filing for foreclosures in Phoenix. And this could just be a start to a bigger crisis as the real estate market in Phoenix remains soft and ARM mortgages on the verge of being reset.

Currently, the rate of Arizona foreclosures is on the rise for the current year. However, the same is also the situation in the Phoenix metropolitan region, which has been witness to over 500% rise this year alone. From January 2008 to October 2008, 7,139 homes were victims to foreclosure as per the Information Market data research firm’s report. There were 1,396 foreclosure filings in October alone, while 3,438 homeowners lack much behind their monthly payments in Maricopa County and took the initial step towards foreclosing. According to Director of Arizona Housing, this situation is only going to get worse!

Phoenix now ranks 15th among cities across the nation for foreclosures. According to RealtyTrac, Phoenix foreclosures were up by 45% from the second quarter of 2007, which is 2.5 times more than this time last year.

Buy Arizona Foreclosures

No feeling can be as real as watching the Arizona sunset over lemon tea on the porch of your Arizona bank foreclosures. Yes, we are talking about your dream and we at MostlyForeclosures.com can help you to make your dream come true. The fact of the matter is that in the recent times, Arizona has seen a rise in the number of foreclosures and in the year 2007, there have been more foreclosures in some of the top counties like Phoenix, Tucson, Mesa, Glendale, and Buckeye. Of course there are some more counties following close behind like Surprise, Queen Creek, Peoria and Lake Havasu City. There is only one way to take advantage of the current spate of foreclosure homes in Arizona: Subscribe to our 7-day membership and browse through thousands of Arizona foreclosure listings. Our guarantee is that you will not be disappointed.

Increasing Number Of Arizona Foreclosures

Whether you are a homebuyer or an investor, you can find different types of homes under Arizona bank foreclosures. You can find HUD homes, VA Homes, Distressed properties, fixer-upper, homes for single family, condos, villas etc. All you have to do is bid on them and the highest bidder will get his/her dream home. We can help you through the entire process from locating the perfect Arizona bank foreclosures to guiding you through the various requirements by the state. We have more than 11,000 Arizona bank foreclosures for sale in different counties and our listings are comprehensive and hence include all important facts and information that will enable you to make a informed decision. You will find the price tag, the neighborhood, the exact location of the Arizona foreclosure homes, the total land area, the total floor area etc.

Arizona is an upcoming housing destination with great homes to offer

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.

Thinking of Investing In Prime Vacation Real Estate, Consider Scottsdale Bank Foreclosures

When you think of investing in real estate you may think of purchasing a home to re-sell later. While this is a great investment opportunity, another one is investing in properties in premier resort locations to rent tourists. One great place to consider purchasing such property is in Arizona and Scottsdale bank foreclosures can make your investment possible while saving you money. Scottsdale, also known as "The West's Most Western Town" is known as a leading exclusive destination for tourists. Owning a property in this area, such as a Scottsdale foreclosed home can give you a way to earn a continuous return on your investment.

Vacation rentals have become increasingly popular in the past few years. These rentals can be booked for days or even weeks at a time, and in areas that have large tourist groups through the year, this can be very lucrative. When searching for a property in Arizona, you will find an abundance of Scottsdale foreclosure listings that would make perfect vacation rentals.

Scottsdale bank home foreclosures can be purchased well below their market value and this means more profit for the investor. This is true whether you are looking for an investment opportunity or your own home. If you are looking to purchase a foreclosure home to resell, than Scottsdale bank foreclosure homes are also ideal. More and more individuals are choosing to move to Scottsdale. The population has grown by over 40,000 people in just the last 7 years, bringing the last totaled Scottsdale population count to 240,410. That is quite a population growth, giving just one more reason why Scottsdale bank foreclosures are a great investment; where there are people; there is a need for homes.

Whether you choose to purchase property in Scottsdale to use as a vacation rental, to resell for a quick profit or as your own home; Scottsdale bank foreclosures are a great value.

Glendale Bank Foreclosures for sale

Glendale, Arizona, home to both Arizona Cardinals and Midwestern University, lies on the outskirts of Phoenix and is home to over 200,000 people. Glendale is a perfect location for firs time buyers, given its regional area and local attractions. Glendale Bank foreclosures can help you find that first new home in this great city.

While you would be able to purchase a home through the regular market, dealing with real estate agents can sometimes be a hassle. Glendale foreclosure listings let you escape the middle man and put your money straight toward your home in Glendale. Bank home foreclosures allow you to work directly with the bank, which has usually made a substantial amount on the home already, from the previous defaulted owner. Because of this, you are able to purchase your Glendale foreclosure home at a much discounted price, sometimes close to 50% off market value.

When you purchase your foreclosed home directly from the bank and not an investor, your Glendale bank foreclosure home comes as is and may need some renovations. For most this is not a problem because of the huge savings they have all ready incurred from buying the property below market value.

First time buyers may find themselves getting more home for their dollar in Glendale. Bank foreclosures for sale can be a huge investment and when your family has outgrown your home, you will stand to turn a profit because of your home's appreciation value. Purchasing a Glendale bank foreclosure can be a win, win situation for all involved.

Because you might not always be aware of what foreclosure homes the bank has or what auctions are ongoing, it may at times be difficult to find foreclosed home in Glendale. Bank foreclosures can also be found on numerous online sites, such as E-Foreclosuresearch.com. Sites such as this one are able to have the most updated listings and can take some of the time consuming work out of finding Glendale bank foreclosures.

Mesa Arizona Foreclosure Listings Can Help You Make the Most of Your Home Buying Dollar

Mesa Arizona is ideally located near Phoenix and utilizing Mesa Foreclosure listings is the perfect vehicle for someone who is looking for the convenience of living near the city but not in the city. Although a wonderful place to live the cost of real estate in Arizona has increased considerably over the last few years. Do not let this discourage you from considering Mesa as a potential home buying location. There is a little known secret called Mesa Foreclosure homes! What is a foreclosure? It is quite simply a home or business that has been repossessed. These homes are ideal for investors, first time home buyers, or even those that are professionals buying homes. So looking into Mesa home foreclosures has many appealing factors.

There is only one small problem with foreclosure listings. Arizona foreclosure listings are difficult to find and it sometimes requires a person to do weeks, if not months, of research. If it takes so much work to find them then why bother? Because Mesa foreclosed homes are sold at greatly reduced prices and must be sold quickly so that the lender can recoup the money they lost on a bad loan. Thanks to ForeclosureConnections.com there is no need to do all the research yourself. Simply log onto the Internet and visit ForeclosureConnections.com and all the Mesa Foreclosure Homes are listed right there for you. Simple and easy to use these Mesa foreclosure listings are placed right at your fingertips. Not only can you find Mesa foreclosure listings but you also get HUD foreclosures and VA properties, which are even more difficult to find than Mesa Foreclosures for sale.

Why Tucson Bank Foreclosures Are Attractive Options for Investors and Home Buyers

How does one derive maximum benefits out of Tucson bank foreclosures? Purchase them of course. At a much lower price, that is. Chances are, the properties are priced more than 20% less than the actual value of the properties. With all the other properties bearing a more hefty price tags, foreclosed homes presents a more affordable housing options. Banks are quite willing to negotiate a more than fair price and some may even throw in flexible financing offers just to get real estate owned properties off the market at the shortest time possible. Most of the home foreclosures offered are in excellent condition and are located in prime spots all throughout the city. Though there are also properties that need some form of renovation or repair, the profits gained from reselling them would more than make up for the investment made on the property. Another big advantage of acquiring Tucson bank foreclosures for sale is the acquisition of a property with a clean title, with no legal burden or encumbrance. For an investor selling more than one property at a time, this is good news.



And just like the benefits are gained by banks when real estate owned properties are taken from their hands, the community also stands to gain from the purchase of Tucson bank foreclosures in terms of taxes. In the part of the buyer, foreclosure homes offer them the chance to live in the city without having to compromise much or all of their financial resources. They get to live the lifestyle unique in Houston, and indulge in the abundance of outdoor recreation and sports. Houston is one of the few places in the United States where one can go off-road driving in the desert one day and go skiing in the next without having to cross state lines. With such a vibrant downtown community and thriving nightlife scene, any out of town buyer won’t regret their decision of purchasing Tucson bank foreclosures and relocating into the city.