The Cromford Report has just released its monthly statistics for Scottsdale and Phoenix foreclosures. This is some of the most accurate data on the state of our current market.
In March 2012 there were 1982 foreclosures. This is down by 123 from February. This is also down significantly from the all time high in March 2010 when there were 5451 foreclosures in a single month. There is a clear trend of less and less foreclosures each month.
At the end of March 2012, there were 16,947 Active Default Residential Properties. Default Properties include all homes where the borrower has not made payments for at least 90 days. The property starts the foreclosure process after the Bank records a Notice of Trustee Sale. Properties remain in this status until there is a recorded Trustee Sale or Cancellation of Trustee Sale.
This is down slightly from the previous month by 384 units when there were 17,331 Active Default Residential Properties. This is a huge decrease from the all time high in December of 2009 when there were 47,606 Active Default Residential Properties.
Call Carmen at (602) 791-0536 to set up your personalized tour of Scottsdale homes for sale including foreclosures.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260