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Minette's Blog

By Minette Goldsmith | Mortgage Broker
or Lender in Tucson, AZ

September Foreclosure activity in Tucson


Realty Trac’s September foreclosure activity report is in. We see foreclosures are down across the country.  Here are their statistics for Pima County. 

In Pima County, 1 out of every 319 homes received a foreclosure notice in Sept.  In Tucson, it is 1 of 330 homes, with an average foreclosure price of $139,637.  It varies considerably throughout the area.  In zip code 85737, most of Oro Valley, it is one of 741 homes.  And the average sales price for a foreclosed home is $180,160. The average sale price for all residential real estate in Oro Valley was estimated at $235,000 in Sept. by Long Realty’s Housing Report.  But in 85653, a Marana zip code,  it is 1 in 120 homes.  No foreclosed sales price was indicated. In 85711, a central zip code, it was 1 in 317 homes with an average foreclosure price of $73,167.  These figures are at a point in time, and may change  month to month.  You can go to  Realty Trac   to look at most specific zip codes.   

In September, Tucson forclosure outcomes were down to 741 from 905 in August. With 337 foreclosures cancelled, 263 went back to the bank, and 141 sold to third parties.  This information is from foreclosureradar.com. 

From discussions with realtors, even if you buy a foreclosure in Pima County or anywhere, you will likely get a good deal, not a steal.  And, all the home prices are affected by the foreclosures and short sales that are occuring, so these days, between the low home prices and the low mortgage rates, it is a great time to buy a home – if you plan to stay for a while and most importantly, if you can afford it.     

http://www.goodmortgageintucson.com

Minette Goldsmith-Fairway Independent Mortgage Corp. 5401 N. Oracle Road Tucson AZ 85704

520 975-3909

L.O. NMLS# 261487 AZ L.O. License #0912618, FIMC # 2289, AZ BK #0904162 Equal Housing Lender 

Comments

By Spirit Messingham,  Mon Oct 29 2012, 12:24
Good informative blog posting.

Spirit
By Minette Goldsmith,  Mon Oct 29 2012, 14:12
Thanks Spirit, from you that is a major compliment. You always have such good comments when people leave questions. I would sure like you to consider me as a source for mortgage inquiries well as the person you consistently recommend. Fairway Independent Mortgage is real reliable, we make purchases a priority.

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