Goods News, Pre-Foreclosure Notices Set Record

In March, Valley pre-foreclosure notices (Notice of Default or NOD) set an all-time record. Through March 30th, 10,635 notices of trustee’s sale were sent out to distressed homeowners, which is a 25% increase over the preceding month of February. This is certainly not a good sign for the Phoenix housing market recovery but it might [...]

Bank Owned Homes Selling Fast

Bank owned homes are selling fast. In real estate we talk about something called the absorption rate which is calculated by dividing the currently available homes, inventory, by the number of sales in the last 30 days (1 month). Think of it as a snap shot of the rate at which housing inventory [...]