Tag Archives: Arizona Foreclosures For Sale

Arizona, Phoenix foreclosure and delinquency rates are below national averages

Foreclosure Rates in Arizona are down for both the State and its Major Metro areas Remaining Lower than the National Average.

phoenix,arizona,foreclosures,for sale,real estate,distressed,homes,saleThat comes from the latest CoreLogic LPI report looking at foreclosure rates, and serious delinquency rates and 30-day delinquency rates. Arizona, and its major metro areas are below already-declining national averages in all three categories. The report looks at year-to-year rates from January 2017 to January 2018.

Arizona’s delinquency and foreclosure rates are lower than the national average, a pattern that follows from last year even as the rates reduce nationally. The state’s own percentages also dropped marginally from numbers last year in Arizona.

Nationally, the foreclosure rate is 0.6 percent. In Arizona, the foreclosure rate is just 0.2 percent statewide. That’s the same in metro Phoenix, while Tucson’s foreclosure rate is 0.3 percent.

Tina Tamboer, a senior housing analyst for the Cromford Report, said the low rates, especially rates below the national average, are a positive for the local market.

Tamboer said the low rates, especially in a seller’s market, mean prices are meeting the level of demand in the market.

Frank Martell, president and CEO of CoreLogic, said most of the country has seen lower rates for both foreclosures and delinquency.

“Declines in the unemployment rate have supported a rise in income, and home-price growth has built home equity,” Martell said in a statement. “These two economic forces coupled with high-quality underwriting have lowered overall delinquency rates.”

For delinquencies, Arizona saw a decline in 30-day or more delinquent rates to 3.1 percent, and serious delinquent rates are at 0.9 percent. In Phoenix, the delinquency rates are just below the statewide rates at 2.8 percent rate for 30-day and 0.8 percent for serious delinquency. Tucson’s 30-day and serious delinquent rates are 3.7 percent and 1.2 percent, respectively.

All of those are lower than the national averages of 3.9 percent for 30-day delinquencies and 2.1 percent for serious delinquencies.

“It’d be very sad to see someone foreclose in today’s market,” Tamboer said, adding people generally could sell instead to pay off the mortgage.

Because Arizona is a non-judicial foreclosure state where lenders can foreclose without going to court, Tamboer said Arizona was hit particularly hard by foreclosures in the Great Recession. However, because foreclosures are not dragged out in court, the state was able to recover faster after the initial onslaught.

Tamboer also said the lack of foreclosures is forcing investors to look to more traditional avenues to buy up below-market properties.

Metro Phoenix and Arizona Foreclosures For Sale

24 matches found

$434,777
1036 E BUTLER Drive, Phoenix, AZ 85020
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Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2
Approx Lot SqFt: 7941
Year Built: 1963
Subdivision: NEW NORTHTOWN
City/Town Code: Phoenix
Description: Own this Hillside property w/RV parking! Discover a formal living room w/pl...
Status: Active
Last Updated: November - 26 - 2021
IDX
$278,500
5609 W GLENROSA Avenue, Phoenix, AZ 85031
View Photos (1)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2
Approx Lot SqFt: 7126
Year Built: 1957
Subdivision: MARYVALE TERRACE 15
City/Town Code: Phoenix
Description: Great investor opportunity...
UCB or CCBS: No
Status: Active
Last Updated: November - 22 - 2021
IDX
$439,000
22155 E VIA DEL PALO, Queen Creek, AZ 85142
View Photos (18)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2.5
Approx Lot SqFt: 4525
Year Built: 2007
Subdivision: VILLAGES AT QUEEN CREEK PARCEL 17
City/Town Code: Queen Creek
Description: Amazing golf course lot with incredible mountain views! The kitchen feature...
Status: Active
Last Updated: November - 22 - 2021
IDX
$95,000
120 STEFFEN Street, Sierra Vista, AZ 85635
View Photos (15)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 1
Approx Lot SqFt: 6498
Year Built: 1954
Subdivision: GARDEN CANYON
City/Town Code: Sierra Vista
Description: REO - clean bungalow in central Sierra Vista - price to sell quickly - 3 be...
Status: Active
Last Updated: November - 21 - 2021
IDX
$74,900
4564 4th North Avenue, Joseph City, AZ 86032
View Photos (54)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Approx Lot SqFt: 19602
Year Built: 1978
Subdivision: Joseph City Townsite
City/Town Code: Joseph City
Description: This great little home offers more room than you would believe. Home needs ...
Status: Active
Last Updated: November - 21 - 2021
IDX
$135,000
5910 W Macdulla Drive, Willcox, AZ 85643
View Photos (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Approx Lot SqFt: 22232
Year Built: 1998
Subdivision: WINCHESTER HEIGHTS
City/Town Code: Willcox
Description: Nice size lot with 1640 sq ft house from 1998. Come make your home in Will...
Status: Active
Last Updated: November - 21 - 2021
IDX
$100,000
418 W HARTFORD Road, Kearny, AZ 85137
View Photos (1)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2
Approx Lot SqFt: 6706
Year Built: 1967
Subdivision: KEARNY SUBDIVISION NO 4
City/Town Code: Kearny
Description: 4 bedroom 2 bath single family. Great for investment or first time home bu...
Status: Active
Last Updated: November - 21 - 2021
IDX
$400,000
4726 W FAWN Drive, Laveen, AZ 85339
View Photos (2)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2.5
Approx Lot SqFt: 6305
Year Built: 2004
Subdivision: CHEATHAM FARMS UNIT 1 AMD
City/Town Code: Laveen
Description: Fantastic 4 bedroom 2 1/2 bath in Cheatham Farms in Laveen! This home featu...
Status: Active
Last Updated: November - 21 - 2021
IDX
$95,000
511 E Maple Street, Winslow, AZ 86047
View Photos (1)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2
Approx Lot SqFt: 6822
Year Built: 1945
Subdivision: A & P Add
City/Town Code: Winslow
Description: Great big double house across from the school. Gas, Power, Water, parking,...
Status: Active
Last Updated: November - 21 - 2021
IDX
$225,000
1720 N WHITTIER Drive, Phoenix, AZ 85006
View Photos (50)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Approx Lot SqFt: 5998
Year Built: 1943
Subdivision: WHITTIER PLACE
City/Town Code: Phoenix
Description: THIS PROPERTY IS SOLD AS IS. IT IS LISTED AS A SHORT SALE AND IS PENDING L...
Status: Active
Last Updated: November - 21 - 2021
IDX

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