Foreclosure Filings over 300,000 for 8th straight Month – AZ rounds out top 10
Nationally, 332,292 properties received notices of default or were seized by banks in October. Distressed real estate accounted for more than 30 percent of total transactions in the 3rd quarter, while median home prices fell another 10%+ across the U.S.
“The foreclosure problem is still with us and will keep prices down,” Stephen Miller, chairman of the economics department at the University of Nevada at Las Vegas, said in an interview. “The real issue is we don’t know what inventory banks are holding that they have yet to put on the market.”
Now is the time to start pumping money into Phoenix Valley real estate properties. According to several real estate ‘market analysis’, the bottom of barrels may be approaching, with the time-frame of March ‘10 when home values start to recover.
Lower priced homes show a much stronger tendency in restoring value than luxury or higher priced houses in the Phoenix, AZ metro area. (foreclosures gilbert, foreclosures mesa, etc.)
Check out the article on foreclosure filings across the U.S. by clicking on the Bloomberg.com link below.
Foreclosures over 300,000 for 8th straight month
Daily property lists are available… give Don Juvan a call to get fresh real estate investment opportunities, all properties are expected to be auctioned off at trustee’s sales. We meticulously evaluate these lists, determining our top 5 picks for next day bidding. We work a lot with out of state investors, considering we offer a full service at auction bid representation.
Cash buyers only please. We do have access to hard money loans.
Don W. Juvan
mobile: (480) 444-6110
email : don.juvan@alliancebidservices.com