The Repo Home Market in Pima County
The great western city of Tucson, Arizona is almost right on the extreme eastern edge of Pima County. It is by far the largest city in this particular county and it is located south and a little east of Phoenix and just north of the country of Mexico. The area is not really all that densely populated and there is not a lot of industry. Tucson, like a good portion of the state of Arizona has been being targeted in tears prior by seniors and people looking to retire.
The climate in Arizona is dry and warm so it makes for a great place to spend the golden years of your life after spending winters working in one of the many frozen northern tier of states. Especially when you are this far south in the state you don’t have much change in the weather. It is pretty much warm and dry every day. Not a lot of rain storms to make you ache and even less snow storms. Almost natures perfect place to live, as you get older. And quite literally many people have chosen to do that.
Our 10 Most Recent Pima County Repo Homes
- List Type
- State
- City
- Zipcode
- Price
- BDR/BTH
- Details
- Auction
- AZ
- Green Valley
- 85622
- -
- 2 / 2
- Details
- Auction
- AZ
- Green Valley
- 85614
- -
- 4 / 2
- Details
Click Here to Search All Arizona Repo Homes
That is also one of the top reasons that Arizona is number four from the top in the list of foreclosure and repossession rates in the country. The people that come to retire here are for the most part on fixed incomes. There is little to no wiggle room in the budget and as the property values drop so does the retirement dreams of the many folks that moved here.
The vast majority of folks in the Pima County area sunk a good portion of the money they saved into down payments on these homes. Now that the market has come crashing down around them they find that they have less equity in the house than they need and instead of being able to go around and golf and enjoy life they fond themselves working a job, sometimes two just in order to make ends meet.
Eventually common sense takes over and they realize that it makes more sense to give up the dream and rent and take the hit on losing the money they had invested. A lot of these folks won’t live long enough at this point to even see the house get to the break even line much less get to a point where they again have any type of equity in the property.
