In this post we we will be exploring a few characteristics of Phoenix Foreclosure Trends in May 2013. Notice of Sales dropped by 20% compared to the same month in 2012! This means that the in the coming months there should be a reduction in inventory of Foreclosures coming to Phoenix. This is in contrast with the Foreclosure Data we are observing in San Jose with substantial reduction of properties in auctions in teen as opposed to Phoenix with more than 700 NODs per month.
Now that we know that volume of Phoenix Short Sales, Phoenix REOs and Phoenix Auctions will in the coming months, let’s find out how competitive the prices are at the Court House for you to acquire rental properties at a discount. The chart blow clearly indicate that the Opening Bids for foreclosure auctions in Phoenix increased slighting by 7% over the same month in 2012! Also the Winning Bid for Phoenix Foreclosure Auction only increased by 8%. This means that Phoenix market could also be on it’s way to recovery since the banks are getting higher prices for their foreclosed properties.
You can start Searching Foreclosures with our FREE search utility and notify us if you need more detail on these foreclosures. We can also email you a FREE eBook on the value of the home you are interested in.
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