Tag Archives: 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

18 matches found

$69,000
801 S ST LOUIS Avenue, Gila Bend, AZ 85337
View Photos (1)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 1944
Approx Lot SqFt: 43681
Year Built: 1965
Subdivision: GILA BEND BLKS 5-8, 17-23, 20 1/2
City/Town Code: Gila Bend
Description: Large single family home located in Central Gila Bend. Great starter home o...
Status: Active
Last Updated: April - 09 - 2021
IDX
$447,500
2005 N 110TH Avenue, Avondale, AZ 85392
View Photos (44)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2.5
Square Footage: 2236
Approx Lot SqFt: 7945
Year Built: 1999
Subdivision: CRYSTAL GARDENS PARCEL 3
City/Town Code: Avondale
Description: WATERFRONT PROPERTY!! Beautiful 3 bedroom, 2.5 bath with a loft. This home ...
Status: Active
Last Updated: April - 08 - 2021
IDX
$247,000
189 NAVIO Court, Rio Rico, AZ 85648
View Photos (47)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 3
Square Footage: 2503
Approx Lot SqFt: 52628
Year Built: 2006
Subdivision: RIO RICO ESTATES UNIT 8
City/Town Code: Rio Rico
Description: Over 1 acre in a great location on a cul-de-sac. Marble throughout the hom...
Status: Active
Last Updated: April - 08 - 2021
IDX
$1,475,000
8943 E Palm Lane, Mesa, AZ 85207
View Photos (50)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 7
# of Bathrooms: 7
Square Footage: 7221
Approx Lot SqFt: 83627
Year Built: 2005
Subdivision: Metes & Bounds
City/Town Code: Mesa
Description: Need Space?? Check out this Amazing Opportunity! This exquisite home has al...
Status: Active
Last Updated: April - 07 - 2021
IDX
$38,000
4819 E Cactus Wren Road, Dragoon, AZ 85609
View Photos (13)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1344
Approx Lot SqFt: 16553
Year Built: 1992
Subdivision: Ligiers 2nd Add
City/Town Code: Dragoon
Description: Property Description Fix up affixed mobile in Village of Dragoon - 2 bedro...
Status: Active
Last Updated: April - 07 - 2021
IDX
$29,900
10411 N HIGHWAY 191, Elfrida, AZ 85610
View Photos (14)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 1329
Approx Lot SqFt: 43763
Year Built: 1979
Subdivision: Elfrida
City/Town Code: Elfrida
Description: This property is within walking distance to most of what you would need. Th...
Status: Active
Last Updated: April - 05 - 2021
IDX
$720,000
13327 N BLUE COYOTE Trail, Fort McDowell, AZ 85264
View Photos (31)
Property Type: Residential
# of Bedrooms: 5
# of Bathrooms: 3.5
Square Footage: 4650
Approx Lot SqFt: 193610
Year Built: 2007
Subdivision: GOLDFIELD PHASE 1 (SURVEY)
City/Town Code: Fort McDowell
Description: CUSTOM HOME on a 4.45 acre horse property in Goldfield Ranch. Minutes from ...
Status: Active
Last Updated: April - 05 - 2021
IDX
$915,000
9578 N 132ND Place, Scottsdale, AZ 85259
View Photos (75)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 3.5
Square Footage: 3261
Approx Lot SqFt: 35358
Year Built: 1998
Subdivision: CARINO CANYON BY SHEA HOMES
City/Town Code: Scottsdale
Description: Wow! Amazing city light and mountain views to be enjoyed from the gorgeous ...
Status: Active
Last Updated: April - 05 - 2021
IDX
$37,500
731 W IRVINE Avenue, Pirtleville, AZ 85626
View Photos (16)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Square Footage: 1553
Approx Lot SqFt: 5402
Year Built: 1940
Subdivision: QUEEN ADD
City/Town Code: Pirtleville
Description: Fix up older home - mostly dated - needs upgrades - well laid out 2bd, 1ba ...
Status: Active
Last Updated: April - 02 - 2021
IDX
$310,000
3750 W Medlock Drive, Phoenix, AZ 85019
View Photos (27)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Square Footage: 1253
Approx Lot SqFt: 3900
Year Built: 2005
Subdivision: Alhambra Square Lot 1
City/Town Code: Phoenix
Description: Fully remodeled 3bd/2ba. Open great room feel with tile througout. Fantasti...
Status: Active
Last Updated: April - 02 - 2021
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