Repossessed Housing in Maricopa County
Arizona is an area that has been severely hit by the crisis in the economy and the real estate market. The Maricopa County area is one that has been quite badly impacted. The numbers here are shocking at best. In fact in May of 2009 the foreclosure rate here is double that of the national average. That is absolutely staggering.
Things slowed a bit but in May the rates in Maricopa County again began to climb skyward. In fact numbers in Arizona were up nearly 4 percent from the month prior while the Maricopa County figures were up a full 13.5 percent. And if you check the figures against last year, they were up an astronomical 31 percentage points over 2008.
These figures represent homes and properties in every stage of the foreclosure game and not just one area. That means that people who just got notice that they are being repossessed or foreclosed on are included as well as the people that are only hours away from the house being boarded up. In short it is a fairly complete figure.
Our 10 Most Recent Maricopa County Repo Homes
- List Type
- State
- City
- Zipcode
- Price
- BDR/BTH
- Details
- Auction
- AZ
- Scottsdale
- 85257
- 100,000.00
- 3 / 2
- Details
Click Here to Search All Arizona Repo Homes
As a state, Arizona rates fourth in the United States in the foreclosure or repossession rankings and they have been there pretty much since the crisis began which means that a lot of homes are in a state of distress in Arizona making it one of the foreclosure hot zones in the nation today and the main reason for this is that bank repossessions are being aggressively pursued here in this state, more so than in many of the others.
Maricopa County encompasses a lot of land and a huge amount of properties. With roughly one in every 150 properties in a state of repossession or foreclosure at this point in time it has reached a critical state. Things are worse here than they have been at any time in the history of the state, including the period of the great depression.
Families from all walks of life and of every economic status are finding that they either can’t make the mortgage commitments any longer or that they have lost so much equity in the property that it is no longer feasible for them to continue to pay money on something that loses more value than it gains.
The economic outlook here, even with the presidents stimulus ideas is bleak and getting darker as each day passes and there is no actual sign of improvement in the horizon.
