Valley of the Sun Foreclosure Data from March 2011 up to March 2013.
Good news for the Valley of the Sun Residential Real Estate Market. Active Notices of Trustee Sales for residential properties in Maricopa County at of the end of March 2013 were at 9,194 units. This is a decrease from last month of 9,750. It is a significant decrease from the all time high of 47,606 active notices of trustee sales back in December 2009.
Actual Residential Foreclosures were at 901 units last month. This was down by 79 units from February. Residential Foreclosures were at there all time high in March 2010 at 5,451.
Bank Owned (REO) Properties listed for sale in MLS were approximately 933 units and Pending REO Sales were at 1470 units. Short Sales represent approximately 14% of the total sales for Maricopa County reported in MLS in March 2013. Total REO Sales are down to 11%. Normal Sales are at the highest point we have seen in the last 5 years. They represent 75% of total sales! NEW Home Sales are also starting to increase and are again becoming a larger segment of the residential real estate market. Prices have gone up by 46% Valley Wide since the Market Low August of 2011!
If you are a homeowner in Maricopa County and not sure of the current value of your home or if you might be under water on your home, Contact Us. We can help you accurately determine the value of your home and discuss possible options if you are looking to sell your home.