Tag Archives: Residential Real Estate

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

45 matches found

$350,000
8541 W CORDES Road, Tolleson, AZ 85353
View Photos (33)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2
Approx Lot SqFt: 6120
Year Built: 2006
Subdivision: Volterra
City/Town Code: Tolleson
Description: Don't miss out on this fantastic opportunity, PRICED EXTREMELY COMPETITIVEL...
Status: Active
Last Updated: November - 28 - 2022
IDX
$44,900
3307 E Leroy Avenue, Kingman, AZ 86409
View Photos (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 1
Approx Lot SqFt: 7405
Year Built: 1995
Subdivision: New Kingman Addition Unit 9
City/Town Code: Kingman
Description: Fix up 1995 single wide - ''attached'' manufactured home. Good bones - just...
Status: Active
Last Updated: November - 27 - 2022
IDX
$52,900
5910 W Macdulla Drive, Willcox, AZ 85643
View Photos (13)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Approx Lot SqFt: 22232
Year Built: 1998
Subdivision: WINCHESTER HEIGHTS
City/Town Code: Willcox
Description: *Seller may carry* Block construction, Large Lot, Fix Up Property, Nice siz...
Status: Active
Last Updated: November - 25 - 2022
IDX
$499,000
1320 W PALO VERDE Drive, Chandler, AZ 85224
View Photos (14)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Approx Lot SqFt: 13565
Year Built: 1981
Subdivision: SARATOGA SQUARE
City/Town Code: Chandler
Description: Come live under the shade of the Ficus tree - this Chandler charmer feature...
Status: Active
Last Updated: November - 25 - 2022
IDX
$276,000
1502 N BRADLEY Drive, Payson, AZ 85541
View Photos (27)Virtual Tours (1)
Property Type: Residential
# of Bedrooms: 5
# of Bathrooms: 2
Approx Lot SqFt: 13624
Year Built: 1974
Subdivision: RANCHO DEL TONTO RESUB UNIT 1
City/Town Code: Payson
Description: This wonderful 5 bedroom 2 bath home has many nice appointments throughout ...
Status: Active
Last Updated: November - 24 - 2022
IDX
$306,000
1319 E JULIUS Street, Casa Grande, AZ 85122
View Photos (1)
Property Type: Residential
# of Bedrooms: 2
# of Bathrooms: 2
Approx Lot SqFt: 6051
Year Built: 2006
Subdivision: ARROYO VISTA UNIT 1
City/Town Code: Casa Grande
Description: Come check out this great 2 bedroom 2 bathroom single story starter or reti...
Status: Active
Last Updated: November - 24 - 2022
IDX
$79,900
225 N Lobb Avenue, Superior, AZ 85173
View Photos (18)Videos (1)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 1
Approx Lot SqFt: 6016
Year Built: 1919
Subdivision: ADDITION TO SUPERIOR TOWNSITE
City/Town Code: Superior
Description: Great investment opportunity! This single family home is situated two block...
Status: Active
Last Updated: November - 23 - 2022
IDX
$700,000
12924 W APODACA Drive, Litchfield Park, AZ 85340
View Photos (32)
Property Type: Residential
# of Bedrooms: 6
# of Bathrooms: 4
Approx Lot SqFt: 16078
Year Built: 2000
Subdivision: BEL FLEUR
City/Town Code: Litchfield Park
Description: Huge home in a beautiful gated community. Tile and wood flooring downstairs...
Status: Active
Last Updated: November - 23 - 2022
IDX
$599,900
40834 N 26TH Street, Cave Creek, AZ 85331
View Photos (20)
Property Type: Residential
# of Bedrooms: 4
# of Bathrooms: 2.5
Approx Lot SqFt: 110425
Year Built: 1996
Subdivision: Metes & Bounds
City/Town Code: Cave Creek
Description: Astounding mountain views await you in this adorable 4 bedroom 2.5 bath hom...
Status: Active
Last Updated: November - 23 - 2022
IDX
$599,000
10836 E SAHUARO Drive, Scottsdale, AZ 85259
View Photos (30)
Property Type: Residential
# of Bedrooms: 3
# of Bathrooms: 2
Approx Lot SqFt: 6955
Year Built: 1983
Subdivision: PARADISE VISTA ESTATES
City/Town Code: Scottsdale
Description: Remodeled home with NO HOA in the heart of Scottsdale! 3 bed, 2 bath, over ...
Status: Active
Last Updated: November - 23 - 2022
IDX

1 2 3 4 5
Copyright 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

Interesting in buying or selling a Phoenix Metro Foreclosure? Contact  Licensed Realtor, Laura B. today.

Phoenix is One of the Fastest-Growing Cities in the Country

Mar 23, 2017

Eleven major metropolitan areas, including Phoenix, are growing at a pace of more than 1,000 persons per week, based on population estimates issued this morning by the U.S. Census Bureau.

phoenix,real,estate,2017,historicThe federal agency released July 2016 estimates for 382 metros and 3,142 counties across the nation.

American City Business Journals, the parent company of the Phoenix Business Journal, used the new federal data to calculate weekly growth rates. Phoenix landed at No. 8 on the list. The Valley’s population rose from an April 2010 total of 4.19 million to a July 2016 estimate of 4.66 million, translating into a net increase of 1,436.2 persons a week.

Topping the list was the Houston metropolitan area, which saw a net increase of 2,612.3 persons per week.

The Dallas-Fort Worth area was second with a weekly net gain of 2,474.6 persons. Rounding out the top five were the New York City, Atlanta and Miami-Fort Lauderdale metros, all with population increases larger than 1,500 persons per week.

The other metros above the weekly threshold of 1,000 were Washington, Los Angeles, Phoenix, Seattle, San Francisco-Oakland and Austin.

The analysis also identified 11 major metros that suffered population declines during the six-year span. The worst weekly loss was posted by the Cleveland area, which slipped by 21,646 persons between April 2010 and July 2016, a net drop of 66.4 per week.

Three other major metros experienced weekly net losses of more than 25 persons: Youngstown, Ohio; Pittsburgh and Scranton/Wilkes-Barre, Pa. The remaining decliners were Syracuse, N.Y.; New Haven, Conn.; Hartford; Toledo; Buffalo; Akron, Ohio; and Rochester, N.Y.

If you’re looking to relocate to the Phoenix area, contact Laura Boyajian today.

Elvis Presley, Johnny Cash music publisher’s estates look to sell prominent Phoenix land

Jan 13, 2017

Land is for sale at the southwest corner of Indian School Road and Central Avenue in midtown Phoenix neighboring Willo Historic District, Encanto-Palmcroft Historic District, FQ Story, Alvarado and Ashland Place districts.

That is one of the busiest intersections in the region and is also on the Metro light rail systems. The land is owned by real estate entities managed by trusts of the Aberbach family.

arizona, commerical,real,estate,elvis presley,president richard nixon,

Richard Nixon and Elvis Presley

Julian J. Aberbach, who died in 2004, was the music publisher for Elvis Presley. Music publishers do deals related to song writing and royalties when compositions are used.

Public records and real estate databases show land at the Indian School/Central land is owned by Aberbach Investments LLC and Vembec LLC.

Those entities are managed by estates for Julian J. Aberbach and his family.

Greg Vogel’s Land Advisors Organization is marketing the land.

The corner was previously home to an AM/PM gas station which is no longer there, parking lots and a Yoshi’s restaurant.

Vogel said the land for sale totals approximately 3 acres with an asking price of $50 per square foot.

Vogel sees the Indian School/Central land as a good spot for a new apartment development.

Julian Aberbach and his late brother Joachim Jean Aberbach were in the music publishing business and forged deals with Elvis Presley, Ray Charles and Johnny Cash.

Julian Aberbach died in 2004 at age 95.

The New York Times outlined in his obituary the business ties to Presley whom he first forged a deal with in 1955. That included telling Presley to hire songwriters to provide him more music.

“I gave Elvis a check for $2,500, an advance against the royalties of his stock ownership,’’ Aberbach said in a 2002 interview with Billboard magazine according to the Times obit. “And he promptly went to the Cadillac dealer and got a pink one.”

Elvis first appeared on the “Ed Sullivan Show” in 1956.

Land Advisors is a leading real estate firm in the state and region. Vogel’s group forged the deal that is bringing Lennar-developed apartments to the northwest corner of McDowell Road and Central Avenue.