Tuesday, December 30, 2008
Although Rim country real estate is suffering, recent data shows that there is an increase in the number of home foreclosures in the valley every month. Central Arizona Board of Realtors (CABR) has to keep track of the foreclosure number in the area which it has never done before. President of CABR, Annette Bashaw said, there are around 2.5 percent of land and homes for sale in central Arizona. Compared to valley's 20.5 percent of bank owned properties, central Arizona is doing well, though home prices have dropped nearly 10 percent. According to a survey, there are nearly 56,000 homes for sale in the valley, of which 11,400 are in foreclosure and another 16 percent are in short sale. The number of foreclosures may not go above 3 percent in the Rim country, but foreclosure numbers may rise gradually for another year and then level off.
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Monday, December 15, 2008
Property foreclosures in Riverside County continued to decline last month. There have been a total of 6,833 mortgage default notices, auction sale notices and bank repossessions in riverside country in November. Riverside County has moved to sixth position in the foreclosure activity this month. San Bernardino County is having the fifth highest foreclosure activity in the state. California is placed under 4th position in foreclosure activity. It had nearly 60,491 filings last month - a 51 percent increase from a year ago. The top foreclosure volume leader is Nevada followed by Florida and Arizona. Saccacio pointed to a 7 percent jump in pre-foreclosure delinquencies in the third quarter. Half of the homeowners granted reduced mortgage payment terms in the first half of the year had slipped back into delinquency. Nearly 1 in 107 households in Riverside county slipped into some stage of foreclosure last month, compared to 1 in 160 in November 2007, according to a survey.
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