Shadow Inventory - 03/30/11 07:15 PM
According to a recent study by the National Association of Realtors (NAR) Arizona has 9 months of shadow inventory which is 60,285 properties.
The term 'Shadow Inventory' is referring to properties that are in default but haven't received a notice of foreclosure yet.  Officially, these properties are not 'in foreclosure' but they are on their way.  This shadow inventory has made it very difficult to project how big this foreclosure problem really is.  This article does an excellent job calculating what each state's shadow inventory is and how long it will take to get through it.
It particularly surprises me that … (2 comments)

Foreclosure Filings are Down ... - 03/19/11 02:53 AM
As we near the end of the first quarter of 2011, it looks like this market could be getting back to normal in the near future - at least for the short term.  In the Phoenix Metro Area, foreclosure filings have been down significantly, which can only help stabilize the buyers market for the time being.
Although foreclosure filings are down, there is reason to believe that might not last very long.  With looming ARM’s that haven’t adjusted and a hefty shadow inventory, Maricopa County should keep delivering consistent foreclosures.  Not to mention Arizona is a non-recourse state, so the … (1 comments)

Bank regulators are pushing for 20% down loans - 03/02/11 05:29 PM
According to an article in the WSJ today, bank regulators are pushing for the minimum down-payment on home loans to be at least 20% down.  Most of this regulation is to make loans less risky and avoid homeowners having their properties go 'underwater'.  Many are talking about another housing bubble on the horizon with ARM's that haven't adjusted yet and the consistent declines in the housing market.
Three major agencies have already followed suit and have agreed to back the proposal requiring at least 20% down:
Federal Reserve
Federal Deposit Insurance Corp.
Office of the Comptroller
The FHA currently requires a 3.5% … (2 comments)

 
Casey Block (Bid Prestige)

Casey Block

Chandler, AZ

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Bid Prestige

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What is Bid Prestige? We are a 'start to finish' bidding service helping investors acquire properties from the auctions daily. We provide all the necessary information for investors to make a purchasing decision. We assist investors in fixing & flipping and buying & holding properties for monthly cash flow. With years of experience in finding, researching, bidding, and selling properties from trustee sales, we help investors to utilize the necessary tools and market information to purchase properties at auction. Our niche markets include: Phoenix Arizona Foreclosures, Gilbert Arizona Foreclosures, Tempe Az Foreclosures.


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