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Arizona Homes In Foreclosure

By Logan Oulman

This is still a great time to invest in Phoenix Foreclosure homes. In many Valley communities house prices are down, there is an oversupply of affordable homes coming onto the market due to foreclosure, yet job prospects lure many driving a keen demand for rental property.

A dramatic population shift over the last century means that many of the largest cities in the nation are emerging in states bordering Mexico. In fact, in 2006 Phoenix became our nation’s fifth biggest city, as it’s population topped 1.5 million. The cities continues to grow. Between 2005 and 2006, the population grew by 43,000 people. The state is a desert state, and most people choose to settle near the largest city. The area around Phoenix actually accounts for more than 75% of All of Arizona’s residential homes. Phoenix is located in Maricopa County, which saw an increase of 70% in foreclosure filings this last August.

Areas across the Valley are known for having affordable homes, and these areas are now facing heavy foreclosures. In Maryvale, West Phoenix, and Mesa, East Valley, home owners with adjustable rates mortgages have been especially vulnerable. In the upcoming 6 months, housing professionals expect that home prices in other areas will begin to go down also, as foreclosures start to crop up in these areas.

So is this the right time to invest? It is common for potential home buyers to wait for reassurances that home prices are headed back in the right direction, before they will make a move to jump into a market that has been cold. However, the low unemployment in Phoenix means that there is still a very strong demand for rental homes. The forecasted job growth moving into the future means that the demand will continue for some time. Another thing to consider are the families that have lost their homes to foreclosure who will be looking to stay in the area and rent a home in the same community.

So if you are wondering if you really want to invest, you should keep in mind that you don’t have to buy the foreclosure to live in yourself; you can buy it as a rental property and a source of additional income. This fall is likely to be the best time to negotiate a great deal on a foreclosure property in Phoenix.

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Article Citation
MLA Style Citation:
Oulman, Logan "Arizona Homes In Foreclosure." Arizona Homes In Foreclosure. 5 Jul. 2010. 29 Nov 2014 <>.

APA Style Citation:
Oulman, L (2010, July 5). Arizona Homes In Foreclosure. Retrieved November 29, 2014, from

Chicago Style Citation:
Oulman, Logan "Arizona Homes In Foreclosure"

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