foreclosure: The American Dream Run
- 10/04/11 02:50 PM
The American Dream Run
NAHREP AZ is hosting its first annual American Dream Run. It's a 4 mile run in Peoria. I have been asked a number of times why we are organizing the run and where do the proceeds go. We, NAHREP AZ, are an organization that believes in the American Dream of homeownership. We know that statistics show that kids who grow up in homes owned by their family tend to do better in school and stay out of trouble........obviously not all! But the statistics weigh in their favor. I suspect that comes from the stability that owning your home (2 comments)
This is the missing piece I was referring to in an earlier blog about "shadow inventory". According to the data that is available to us, In Arizona there is only about 3 to 4 months of "shadow inventory". As a reminder, those are the properties where the owner has received a Notice of Trustee Sale and the foreclosure process has started. Between the time they receive the notice and the property hits the market - that is the shadow. What has not been readily available is the number of mortgages that are delinquent (1 comments)
Selling your home or investment property today isn't what it was just a few short years ago. Currently in Arizona 57% of property sold are an REO (Real estate Owned or more commonly known as a foreclosure) or a Short Sale. A short sale is when you sell a property for less than what you owe. This requires negotiations with your bank, a meeting with your tax preparer and maybe even an attorney. While Short Sales are becoming more and more common there are some warning signs that you should watch out for. Did (0 comments)
foreclosure: Market Outlook - Just my opinion!
- 07/20/11 03:04 PM
Market Outlook - Just my opinion!
With so much talk about "shadow inventory" and really the GUESS of where the market will go, I thought I would throw in my two cents on the Arizona Market. I am the President of NAHREP AZ and we just wrapped up our first annual state conference. What a huge success! And what a learning experience!
From the data I received during the event, coupled with data from "Tamboer Consulting", and just an overall hands on participation in the market, my conclusion is as follows:
While measurable foreclosures will be around for (2 comments)
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