April 19, 2024 4:07 pm
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Report: East Valley, Phoenix foreclosure ‘tsunami’ all but over

tsunamiBy Michelle Reese | East Valley Tribune

The “tsunami” of foreclosures Arizona has seen since 2007 is subsiding to normal levels, but the Valley’s housing shortage could keep potential buyers away from their dreams for a while, one housing expert said this week.

A report last week out of the W. P. Carey School of Business at Arizona State University shows foreclosure starts on single family and condo homes in the Valley dropped 15 percent between April and May. Foreclosure starts are down 67 percent from a year ago. The number of completed foreclosures is down 53 percent from May 2012.

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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.