Phoenix Foreclosure Statistics for August
I thought you would be interested in the latest foreclosure statistics. In August, Arizona ranks 3rd in the country, behind California and Nevada, for the number of recorded foreclosure filings. RealtyTrac states that ”one out of every 182 households or more than 14,000 homes in Arizona” are in some stage of default. It is important to remember that not ALL of the homes that have had foreclosure filings will actually be foreclosed upon. Click on the following link to read the full story: http://www.bizjournals.com/phoenix/stories/2008/09/08/daily77.html?f=et73&ana=e_du
Foreclosed homes account for 44% of the 7,505 August Phoenix Metro Area residential sales. The median sales price for all homes sold conventionally in the valley was $193,500 vs. $161,875 for foreclosed valley homes. Keep in mind, these averages account for valley home sales in ALL areas. Median prices for both traditional and foreclosure sales are much higher in Scottsdale where the median price is upwards of $560,000, compared to Maryvale where the median price is below $130,000. Click on the following link to read the full story: http://www.bizjournals.com/phoenix/stories/2008/09/08/daily77.html?f=et73&ana=e_du
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Comment by Kim on 5 February 2009:
Do you have any statistic that show which mortgage companies / banks / lenders have the most foreclosures in Arizona?
Comment by Michele Guss on 5 February 2009:
Kim-
I do not have access to foreclosure stats for specific banks, mortgage companies or lenders. I checked with my broker and he is not sure how to obtain this information either.
I do have access to recorded re-sale stats. In Nov 2008 there were 6,465 re-sale transactions recorded. 48% or 3,095 of the re-sale transactions were foreclosed homes, while 3,370 were “traditional” sales.
In Oct 2008, the split for re-sale homes was 3,745 foreclosed homes and 4,465 “traditional” home sales.
Comment by Jim Zirbes on 7 July 2009:
Hi Michele-
Some local lenders and several title & escrow companies usually have such lists, usually obtained from paid subscription-based services. I have last month’s - if you want it, let me know & I’ll send it your way. And/or ask a few title rep’s and I’ll one of them may have the ability to give you regular access to it.
All the best,
Jim