So here are some intersting facts. I received some information concerning the percentage of home that are sold as REOs in the Maricopa County in Arizona. REOs are not short sales, they are properties that have taken back by the lender after foreclosure.
- 40% of reported sales for Maricopa County, Arizona in September were Lender Owned.
- 51% of reported sales for Glendale, Arizona in September were Lender Owned.
- 43% of reported sales for Goodyear Arizona in September were Lender Owned.
- 42% of reported sales for Peoria Arizona in September were Lender Owned.
- 44% of reported sales for Surprise Arizona in September were Lender Owned.
- 56% of reported sales for Tolleson Arizona in September were Lender Owned.
- 46% of reported sales for Phoenix Arizona in September were Lender Owned.
- 30% of reported sales for Chandler Arizona in September were Lender Owned.
- 40% of reported sales for Mesa Arizona in September were Lender Owned.
- 46% of reported sales for Queen Creek Arizona in September were Lender Owned.
- Only 20% of reported sales for Scottsdale Arizona in September were Lender Owned.
Thanks for reading.
- Jeff Buettner
Real Estate Wiz Kid
I just can’t make payments on my Scottsdale home anymore !
Recent Posts:
If you enjoyed this article, please consider sharing it!
That 46% is really high, its amazing how things turn like this. The good news is I believe we will see numbers like that start declining, especially now that lenders are a lot more strict.
Great information. I will have to look into just how to gather such info for my area. I did write a blog post about my attempt to purchase a home which was in foreclosure.
You gathered a good piece of information, also interesting statics about Arizona properties.
It is good that the homes are being returned to the marketplace, better than sitting there empty.
1- What is the average cents on the dollar for bank owned R.E., in Phoenix, AZ?
2- What is the best resource to find/buy bank owned property?
3- Any good hard money referrals that wont rip my head off?
David,
1. It hard to tell because market value keeps decreasing but I would say 50-70 cents on the dollar.
2. The best resource is to find a realtor in AZ to search the MLS for you. Or find a realtor that just handles REO’s.
3. Unfortunately I don’t have any good hard money referrals.
David let me know if you need some help with option 2.
Sincerely,
Jeff Buettner
They are amazing statistic. The question is are the lenders selling them and are the sales running stronger now with the price declines. Are new homes getting taken over at the same pace as sales? Simple stated are we cleaning up or still filling up.
Very nice information. Thanks for this.
I found your blog because I wanted more information. The content you have on your blog needs to be discovered so I have added you to my Google News Reader. I really look forward to reading more posts from you.
The question is are the lenders selling them and are the sales running stronger now with the price declines.
I will have to look into just how to gather such info for my area. I did write a blog post about my attempt to purchase a home which was in foreclosure.
I keep listening to the news so I have been looking around for the best sites.
I see this post is a couple years old. How are things comparing today? Lenders need to be careful who they give money to.
D.J.