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Tucson Foreclosures - What's Going On?
Tucson Foreclosures - What's Going On?

I read an article this week about metropolitan Tucson and a jump in the amount of Foreclosures on the market again.  A 38% jump.

It makes me think back to a "financial meeting" I went to with a bunch of agents at a local new-construction site - and we were told that compared to what was now on the market, there was "ten times that in inventory".  That meeting was last winter.

It doesn't take a rocket scientist to drive our neighborhoods and see the white stickers on windows of vacant homes.  You can spot the unweeded yards real quickly (now that it's been raining again) in well-kept HOA heavy neighborhoods.  It isn't pretty in the Tucson housing market.

However, there are bright spots.  This current jump in foreclosures is still down 14% from LAST August.  2011 is a good 1400 down from filed foreclosure notices in 2010, for the same time period.  New construction continues around town.
Analysts say that foreclosure pacing is essential to housing recovery because the longer these properties linger, the longer our overall property value is depressed.
My heart goes out to those in foreclosure situation, ... more

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