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foreclosures: Phoenix Real Estate Foreclosure Filings - 05/13/09 07:33 PM
The new numbers reported by Realty Trac place Arizona in the fourth position for highest foreclosure filings. One in every 164 homeowners in Arizona received a foreclosure notice. These new numbers may seem to be in contrast to my last blog, Phoenix Real Estate on the Upswing, so let me explain. Last week's blog concerned the upswing in home sales, which still remains true. Also my blog ended by letting you know that we were not out of the woods yet. The economy and job loss will certainly take it's toll and contribute to the foreclosure market. When talking about foreclosures and the … (0 comments)
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foreclosures: Phoenix Real Estate on the Upswing - 05/06/09 10:09 AM
I am happy to report that the upswing in the Phoenix area has nothing to do with golf and lots to do with the current the real estate market, which has experienced an upswing of late. This is not to say everything is rosy. But, recent figures are definitely on the upwswing, which means some figures are down.
* DataQuick Information reports that single-family home sales in the Phoenix area has increased 55.1%. * The number of homes for sale has steadily decreased since November of 2008, with 13,297 homes on the market (the highest number of homes in the … (0 comments)
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foreclosures: Things Are Looking Better in the Valley of the Sun - 04/15/09 06:16 PM
As President Obama stated this week, things are looking better...but there are still rough times ahead. That is not an exact quote, but it gives you the idea. That same sentiment is a reflection of the real estate market in the Phoenix, Valley of the Sun area.
The stimulus plan to forestall foreclosures with loan refinancing and modifications will not be very helpful for most distressed homeowners in the Phoenix area. But, to do nothing is worse. If you are facing the possibility of foreclosure or are in the foreclosure process, do not assume that they will not work for you. You can … (0 comments)
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foreclosures: Short Sale Advantages for Buyers and Sellers - 03/05/09 10:53 AM
Before I explain the advantages of a short sale for sellers and buyers, let me give you a simple explanation of what a short sale is. A short sale is when a bank agrees to accept an amount less than the balance owed in repayment for the loan. In the Valley of the Sun area, most sellers do not have enough equity in the property to sell the home at the current market value. Thus, they are short on funds to close the escrow. Unless the seller is going to bring funds from another source, they must appeal to the bank … (0 comments)
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foreclosures: Foreclosures and Short Sales Still Drive Valley of the Sun Market - 02/11/09 01:23 PM
Foreclosures and short sales are still driving the market in the Valley of the Sun area. This trend is expected to continue through 2009. If you are looking for the bottom of the market before making a purchase, you will need a crystal ball because no one knows when that will occur (or has happened) until months after it happens. However, it does appear that the Valley of the Sun real estate market is rebounding to some degree. Sales are up from sales a year ago, according to the latest reports. In Phoenix, 1,290 single-family homes were sold last month compared to 461 … (1 comments)
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foreclosures: Top 10 Real Estate Trends - 10/15/08 11:49 AM
1. Foreclosures are at record highs. Many estimates put the amount of homes in foreclosure by the end of the year at 2 million. What does this mean? If your credit is good and you have some money set aside, now is an excellent time to buy.
2. Home prices keep falling. How fast they are falling depends on your area. In some higher demand markets, prices have continued to climb, albeit at a slower pace. Despite the national decline in prices, however, several markets are actually experiencing a comeback.
3. It's not as easy to get a mortgage loan as … (0 comments)
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Larry Luenser
Phoenix,
AZ
More about me…
Home Smart Real Estate
Office Phone: (602) 526-2514
Cell Phone: (602) 526-2514
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Larry Luenser specializes in real estate, foreclosures and homes for sale in Peoria, Glendale, Phoenix, Paradise Valley, Mesa, Scottsdale, Tempe, Surprise, and Maricopa County. Find buyer/seller tips, community information, foreclosure information and more.
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