“Foreclosures on the Rise Again” is the title of an article by respected CNBC Real Estate Reporter Diana Olick.
Foreclosure activity froze in many states in 2011, due to processing delays after fraud, or so-called “Robo-signing,” were uncovered in the fall of 2010. The thaw is now on.
A lot of people will read all these “foreclosures on the rise” articles and naturally think it applies to Arizona. It doesn’t.
Here’s my take on Arizona foreclosures from November. Read the whole thing.
But that post was 3 months ago.
Has the situation changed since then?
Yes.Phoenix Bank-Owned MLS ListingsPhoenix Bank-Owned Homes Not Listed (yet)Phoenix Homes In Foreclosure
(You can click on the above 3 graphs to see larger versions.)Phoenix Homes Behind on Mortgage PaymentsArizona Foreclosure Pipeline Shrinking
Yes, the entire Arizona foreclosure pipeline has continued to shrink since November.
You tell me how you think this will eventually effect Phoenix home prices.