Short Sales, Foreclosures, and Homes for Sale in Glendale, Peoria, Phoenix, Surprise, Arizona

Home values in Phoenix Metro could fall again because of "shadow inventory". Phoenix area home prices could experience another drop in value because of tens of thousands of properties that could flood the market in 2010. This shadow inventory, located across metropolitan Phoenix, is threatening the recovery of the real estate market and overall Arizona economy. It includes an unknown number of pending foreclosures, bank-owned homes bought at foreclosure auctions by investors who might try for a quick sale, thousands of homes foreclosed on by banks that have not yet put them up for resale and homes that will go into foreclosure after their owners abandon them and walk away from their mortgages. Click here for article.