ARIZONA BANK OWNED PROPERTIESare in abundance. The tough economic conditions have caused numerous Valley residents to short sale and foreclose on their properties. While it has been devasting to the original home owner- it has provided amazing opportunities for investors and those wishing to buy rental properties.
There are numerous ways to purchase bank owned properties- including using existing 401K money. Many people do not realize that in Arizona - you can purchase residential real estate by using a self directed IRA. If you have recently lost your job- or have money in a 401K from a previous employer, this is an amazing option.
Active listings in the Arizona MLS system are shrinking. Many of the homes currently on the market are bank owned properties or homes that are in short sale status. As of today, there is currently 22,285 homes listed. 3,857 homes are bank owned properties. That is 17% of the market.
4,692 homes are either short sale, pre-foreclosure or pre-approved short sales. That is 21% of the market. So, nearly 38% of the homes listed are bank owned propertiesor short sales. There are a lot of deals to be had.
When buying a bank owned propertyjust make sure that you have a nice complete home inspection done, a great realtor who can educate you on the area and perhaps a property manager to help you with finding tenants.
Many bank owned properties are able to secure 8%+ return on investment- and that does not include appreciation of the property.
Now is an amazing time to purchase bank owned property in Arizona. If you have been considering bank owned properties as an investment, please feel free to contact me for a FREE list of available homes with pictures included.
For your free list of available bank owned properties in Arizona- with pictures- contact Jackie Mahaney at jacklynjm@cox.net or 602-373-8469.
Arizona bank owned properties- start building wealth through Arizona real estate!
Arizona bank owned properties!
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