Around the end of June the Arizona Republic reported that as many as 45,000 “pending” foreclosure homes are being “held back” from being placed on the market to be sold.
One belief is that the banks are deliberately dragging their feet at putting these homes onto the market in an effort to keep home prices from sliding even farther. But many feel that this may even hinder and prolong the market’s long term recovery.
Another belief is that the banks are dragging their heels on higher ticket properties because the demand is low and selling off so many of these properties at low prices could possibly cause some banks to fail.
Another school of thought is that the banks are simply overwhelmed with the volumes and cannot deal with them any quicker.
Or maybe the reasons are some of all the above. Whatever the reason it seems there will be foreclosures coming onto the market for the foreseeable future making some great buyer opportunities.
If you are a buyer thinking of buying, now may be the time. Give us a call - -480-201-3001.