Purchase Arizona Real Estate with Oggy Karchev of Realty ONE Group

Attention Phoenix home buyers and Investors:

New results conclude that Arizona may perhaps be on the verge of a real estate recovery. According the new numbers from RealtyTrac, Arizona Foreclosures have dropped a couple notches on the ranking scale. Arizona has been #2 in foreclosure rate in the nation, but now the new numbers show that Arizona Foreclosure rate has dropped bringing the state to #4 in foreclosure rate for the nation. The state incurred a 10 percent July to August decrease in foreclosure activity with only 1 of 150 Arizona homes in a distressed state.

The leader board is as follows: Nevada topped the charts with 1 of every 62 homes impacted by foreclosure proceedings, Florida came in a close second and of course our neighboring state of California is a close third in home foreclosure rate.

Foreclosure rates for the nation have dropped 1% since last month, but is up 10% from this time last year. Approximatly 1 in every 357 US homes has filed for foreclosure in August. This includes default notices, scheduled home auctions and bank repos.

Although the foreclosure rate in Phoenix has dropped, we are still seeing lots of inventory to Arizona MLS. Phoenix investors can still get a great positive cash-flow producing investment property, Phoenix homebuyers can still benefit from incentives such as the $8000 first time homebuyer tax credit in Phoenix. Contact Real Vision group or register for our Greater Phoenix Bank Owned Homes hot list to stay in tune with todays hot investment opportunities.