April 19, 2024 2:00 pm
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Foreclosures no longer driving force in metro Phoenix market

foreclosures-300x2251By Catherine Reagor |The Arizona Republic

For the past five years, foreclosures have been one of the most important indicators to track metro Phoenix’s housing market. Not anymore.

Both foreclosures and foreclosure starts have fallen back to levels not seen in the region since 2007. In January, lenders took back 1,339 houses, according to the Information Market. During 2009-11, monthly foreclosures regularly topped 4,000 and often climbed above 5,000.

Foreclosure starts, or notice of trustee sales as they are known in Arizona, totaled 2,245 last month. In March 2009, lenders moved to begin foreclosure proceedings on a record 10,105 homeowners.

Continued: 

If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.