» Arizona Foreclosures : Foreclosure Finder Blog

The 3^rd quarter of 2006 saw the highest increase in Arizona foreclosure rates in 5 years. A recent report shows that Maricopa County, alone, saw 563 properties foreclosed on. That is a 29% increase over Q2. The month of September saw 1,106 new fillings, and was the largest one month increase in pre-foreclosures since 2003. That fact combined with the high the number of homes making it to auction and the increased surplus of properties for sale, leads most to believe that Q4 foreclosure rates in Arizona will remain high. There is tremendous opportunity for 2 groups of people; those who may be looking to buy a home in Arizona to live in for a few years, and the savvy investors who may be looking to profit from the loss of the not so savvy investor. One factor that is heavily influencing the Phoenix metro area to experience such high rates of foreclosures is that nearly 25% of the homes sold were purchased by out of state speculators who were never going to actually live in the house.

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